US Market News January 8, 2013

New York, Jan 8, 2013 AEST (ABN Newswire) - North American stock markets ended lower Monday as traders were nervous ahead of the upcoming earnings season and possible U.S. debt ceiling stalemate. The TSX fell 41 points to 12,499, while the Venture exchange was off four points at 1,223.
Gold stocks led the TSX lower as gold prices eased $2.60 to US$1,646.30, while the price of silver climbed 23 cents to $30.18.

Barrick Gold (TSE:ABX) shares slipped 1.7% to $33.57 after the Supreme Court of Pakistan cancelled a lease agreement for a copper-and-gold project being developed by a joint venture between the gold mining giant and a Chilean company.

Among the most-actively traded issues in Toronto included shares of Labrador Iron Mines Holdings (TSE:LIM), which jumped 12% to $1.65 on volume of more than 5.7 million shares. LIM stock has soared about 50% since ArcelorMittal, the world's largest steelmaker, last week said will sell a 15% stake in ArcelorMittal Mines Canada for $1.1 billion.

The Dow was down 51 points to 13,384, and the Nasdaq gave back three points at 3,098.

Fourth-quarter earnings season is set to kick off with aluminum company Alcoa reporting its results after Tuesday's market close.

For news about small stocks that made big moves Monday's trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report on www.stockhouse.com

SOURCE: www.Stockhouse.com