While closin TSX down but gold sector is glittered

While close TSX down but gold sector is glittered: Today The Toronto Stock Exchange(TSX) show down while closing the Market but Gold sector is shined here is details. Some disappointing earnings in the U.S., the North American markets lower Tuesday as investors sold taken the materials and energy stocks. The S & P / TSX composite index lost 11.46 points 12516.89, tightly closing previous trading sessions comments from the Bank of Canada and the U.S. Federal Reserve on Wednesday.
The Canadian dollar rose 0.45 percent to 96.47 U.S. cents at the Bank gives his first policy decision of Canada's new Governor Stephen Poloz, scheduled for 10 am ET on Wednesday.

On the TSX, materials stocks fell 2.2 percent and Agrium fell $ 2.42 to $ 93.16.  The energy sector closed 0.3 percent lower, with the August contract for crude oil on the NYMEX easing 32 cents to $ 106 per barrel.  Gold stocks were the biggest winners in August bullion rose $ 6.90 to $ 1,290.40 an ounce, while the TSX gold sector was up 3.1 percent. The September copper contract on the NYMEX gained 4.2 cents to $ 3.187 per pound.

In the U.S., investors still have a lot to digest and Coca-Cola, the largest beverage company in the world, and retail brokerage firm Charles Schwab, who in the second quarter results that disappointed analysts.
Coca-Cola announced lower profits and slow growth in the quarter. Charles Schwab said its profit fell seven percent to $ 256 million, or 18 cents per share in the second quarter, compared with $ 275 million, or 20 cents per share, a year earlier.

On Wall Street, the Dow Jones and the S & P back after closing at a record high during the three sessions. Dow slips back 32.41 15,451.85 points, the Nasdaq Composite 8.99 points lower, while 3598.50 S & P 500 slipped 6.24 points to 1,676.26.  North American markets are no major changes for the testimony of Fed Chairman Ben Bernanke on Wednesday that the tone can put on the market before the end of summer.

"It's a bit of a wait and see attitude. Nobody wants to somehow to position itself" said Norman Raschkowan, North American strategist at Mackenzie Financial Corporation.  In particular, investors will look for further clues about when the Fed will begin to reduce. Monetary stimulus

The Fed is now spending 85000000000 $ per month on the purchase of financial assets in the hope of keeping long-term lending rates low and stimulate the U.S. economy. The new money is created by the various monetary stimulus adopted in recent years, is a major factor in the development of the market.

Disappointing retail sales increased expectations Monday that the "narrowing" place may occur in the year than previously thought later.  "The markets have recovered since (the Fed) has eased their views, so people are a bit confused about what the Fed sees the current environment," added Raschkowan.

The shares of Loblaw Cos. Ltd. went back the next day after the company announced that it intends to Shoppers Drug Mart Corporation buys for $ 12400000000 in cash and stock - a transaction that caused the examination of the two rating agencies.  S & P puts companies under the supervision negative outlook, which means it can reduce or confirm the ratings in the next three months.

DBRS also Shoppers Drug Mart revised to negative consequences as a result Loblaw "possible assumption of approximately $ 1 billion in debt buyers."  Loblaw fell $ 1.53 to $ 48.60, while buyers fell 43 cents to $ 59.69.  Barrick Gold rose by nearly six percent after the Chilean Court of Appeals ruled against the largest gold mining company in the world on Monday. The judge ruled in favor of the Indians of Chile, Barrick accused of polluting their water downstream and doubt about the future of higher gold mine in the world. Shares of the company gained 93 cents to $ 16.62.

Sun Media Corporation on Tuesday announced plans to cut 360 jobs and close 11 publications across the country, including 24-hour free in Ottawa, Calgary and Edmonton newspapers. The parent company of the media, Montreal, Quebecor Inc., saw its shares fall by 23 cents to $ 47.50.  Under economic news, the U.S. Labor Department reported tame inflation, the consumer price index rose 0.5 percent in June-May. Two-thirds of the increase is 6.3 percent increase in gas prices, the biggest since February.

The day after Citigroup easily surpassed Wall Street expectations, Goldman Sachs did the same on Tuesday. Investment and Securities Corporation said it doubled its quarterly results for the second quarter, and a turnover of 8.61 billion.  Johnson & Johnson also said that second-quarter profit more than doubled as a result of higher sales of medicines and medical equipment.

After the market close, Yahoo Inc. said its sales rose 46 percent, thanks to a surge of investment in the Chinese Internet company Alibaba. But sales fell 7 percent from last year. The company earned $ 331 million, or 30 cents per share for the three months ending in June This compares with a net profit of $ 227 million, or 18 cents per share, in the same period last year. Revenue was $ 1.14 billion.