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Stocks, gold down in early trading

9/18/2012 7:58:52 AM | Stockhouse Editorial

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FedEx delivers a gloomy global economic forecast

Stock markets opened lower on both sides of the border Tuesday as weakness in commodities influenced trading in Toronto.

The TSX composite index slipped 44.69 points to 12,402.17, while the TSX Venture Exchange inched 0.23 of a point lower to 1,316.93.

Early movers on Bay Street include a 12% climb for shares of Denison Mines and a 23% pop in St. Augustine Gold and Copper stock.

The Dow was off 29.89 points to 13,523.21, and the Nasdaq was down 8.12 points to 3,170.55.

Weighing on Wall Street was a nearly 2% decline in the share price of FedEx after the delivery giant slashed its full-year forecast, saying that it believes the global economy is worsening.

The gold price fell $6.10 to US$1,764.50 an ounce, while copper lost 2.7 cents at US$3.77 a pound. October crude eased 70 cents to US$95.92 a barrel.

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