The Prospector News

The Week of January 23rd to January 29th, 2017 “A Brief Look Back into Tomorrow”

You have opened a direct link to the current edition PDF

Open PDF Close
Industry Analysts

Share this news article

The Week of January 23rd to January 29th, 2017 “A Brief Look Back into Tomorrow”






The first trading week of the Trump era began in Monday, January 23rd with the major North American markets still hovering below their recent highs while leaving investors with a multitude of reasons why they could go either way from here.




Cordoba Minerals (CDB-V) share price soared up by almost 38% to $1.29 after the explorer reported encouraging drill hole gold/copper/silver & zinc assays from its San Matias project in Colombia.




The price of Resverlogix Corp. (RVX-T) surged up by over 28% to $2.18 after the company released positive phase I results for patients being treated for severe kidney impairment.




McDonald’s Corp. (MCD-N) not only has a feature movie about its origins (The Founder) currently playing in theaters but the original fast food restaurant chain reported 4th-quarter financials that were in line with analysts’ expectations.




With one stroke of a pen on Tuesday, January 24th, Donald Trump wiped out 8-years of Obama led negativism towards the petroleum & pipeline industries as the U.S President signed an executive order to begin construction of the cross border Keystone XL pipeline and U.S. based Dakota Access pipeline.




Meanwhile FedEx Corp. (FDX-N) CEO Fred Smith reminded the new protectionist U.S. administration that – “About 40-million Americans, or 27% of their economy, make their living in trade. Ninety-five percent of the world’s consumers aren’t in the United States – they’re elsewhere around the world.”




First Global Data (FGD-V) shares’ surged up by over 19% to $0.31 on word that many Indian cinema and food courts were going to be using the company’s VPayQwik mobile payment app.




Milestones come in many forms and Wednesday, January 15th had the iconic Dow Jones Industrial Average rise above 20,000 for the first time in its history.




And further to that note, Dow component Boeing Co. (BA-N) reported 4th-quarter financials that were ahead of the streets’ expectations.




WGL Holdings (WGL-N) shares rose by 2.59% to US$80.82 after the Washington based utility agreed to a US$6.4-billion takeover by Alberta’s AltaGas Ltd. (ALA-T).




Electronic shopping continues to grow as EBay Inc. (EBAY-Q) reported a 3.1% increase in quarterly revenue during this recent holiday season.




Buoyant markets suddenly paused on Thursday, January 26th after U.S. President Donald Trump made good on his most contentious election promise and ordered construction to begin on ‘The Great Wall’ along their Mexican border.




Methanex Corp. (MX-T) shares’ rose by almost 10% to $67.44 after the methanol producer reported better than expected 4th-quarter financials.




IKEA Canada moved further into the clean energy space after the giant home supply retailer bought the Wintering Hills wind farm in Alberta from operators Teck Resources (TECK.B-T) and TransAlta Corp. (TA-T).




The price of Mattel Inc. (MAT-N) stock fell by almost 18% to US$25.95 after the giant toy maker’s 4th-quarter financials failed to live up to analysts’ expectations.




Brick & mortar retailing took another knife on Friday, January 27th when HMV Canada announced they were closing all 102 of their music stores across the country.




Canada’s Finance Department reported that the Liberal government’s federal deficit was $12.7-billion for the first 8-months of the current fiscal year – compared to a $1-billion surplus for the same period with the Conservatives just one year earlier.




Petroleum industry analyst Baker Hughes (BHI-N) report that the American active oil & gas drilling rig count rose by another 18-rigs last week to bring their total number of active rigs up to 712 active drilling rigs.




Power Metals (PWM-V) shares’ surged up by 22% to $0.36 on word the company had acquired an oilfield lithium brine project in Alberta.




During the WeekThe TSX Venture Exchange rose to a new 4-month high of 810, while the TSX Composite Index reached a new 21/2-year high of 15,644. Across the line, the NASDAQ, S&P 500 and the Dow Industrials climbed to new respective record highs of 5,661, 2,298 and 20,101. Meanwhile, the VIX dropped to a new 21/2-year low of 10.58.




Bank of Montreal (BMO-T) at $101.15, Cogeco Communications (CCA-T) at $72.88 and Potash Corp. of Saskatchewan (POT-T) at $26.62 all reached new TSX 52-week trading highs while Aritzia Inc. (ATZ-T) at $16.22, Oryx Petroleum (OXC-T) at $0.39 and TeraGo Inc. (TGO-T) at $4.15 all slumped to new 52-week trading lows.




For the Week – the Dow Industrials rose by 1.35% to 20,094, with the S&P 500 Up by 1.06% to 2,295 and the NASDAQ ahead by 0.11% to 5,661. In Canada, the TSX Composite Index advanced by 0.18% to 15,576 and the TSX Venture Exchange improved by 1.50% to 810.




With CommoditiesGold bullion fell by 1.24% to US$1,193, with copper up by 0.23% to US$2.69, while crude oil eased by 0.17% to US$53.17 as natural gas gained 4.98% to US$3.37. Overall, the CRB Spot Commodity Index remained unchanged for the week at 433.




The Canadian dollar rose by 1.31% against its southern neighbour to end the week at US$0.7605.




And the closely watched CBOE Volatility Index or VIX dropped by another 0.96-point to finish the week at a very calm level of 10.58.




And Finally – As the United States seems to be moving to further restrict immigration – Statistics Canada estimates that fully half of this country’s population will be made up of immigrants by only……now wait for it….. 2036.

Posted January 30, 2017

Share this news article


Mickey Fulp - Mercenary Alert: Is Zinc Still a Four-Letter Word?

Read the Report Here Mercenary Alert: Is Zinc Still a Four-Letter Word? ... READ MORE

June 15, 2017

Top 10 Financings of May 2017

May saw 125 financings close in the Canadian financial markets for C$366.5 million including 64 fina... READ MORE

June 15, 2017

ORENINC INDEX jumps as gold gets political again

ORENINC INDEX – Monday, June 12, 2017 North America’s leading junior mining finance data provide... READ MORE

June 13, 2017

The Week of June 5th to June 11th, 2017 "A Brief Look Back Into Tomorrow"

The new North American trading week began on Monday June 5th with... READ MORE

June 12, 2017

The Week of May 29th to June 4th, 2017 "A Brief Look Back Into Tomorrow"

The new North American trading week began on Monday, May 29th wit... READ MORE

June 6, 2017

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions