Mid-morning report: stocks fall ahead of earnings

Stockhouse Editorial
0 Comments| July 29, 2013


The TSX composite lost 14.94 points to 12,632.96 in mid-morning trading on Monday. The Dow fell 59.06 to 15,499.77, while NASDAQ slipped 14.03 to 3,599.14.

Traders looked ahead to quarterly earnings during this week from mining and energy companies. Expectations are low due to falling commodities.

Reporting this week include Cameco Corp. (TSX: T.CCO, Stock Forum), down 2.8% to $21.27 in mid-morning trading, and Canadian Oil Sands Ltd. (TSX: T.COS, Stock Forum), down 0.2% to $20.29 a share.

U.S. stocks fell as fewer Americans signed contracts in June to buy previously owned homes, showing rising mortgage rates are beginning to restrain the housing market.

The price of gold dropped US$3.00 to US$1,329.90 an ounce, while silver lost US$0.06 to US$19.89 an ounce.

Tags: INDUSTRIAL METALS & MINERALS OIL & GAS INTEGRATED

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