Although U.S. stocks rallied this afternoon, stocks trading on the Toronto Stock Exchange weren’t quite as fortunate.

The TSE 300 was ahead for a short time during today’s session, but it couldn’t hold on to advance and closed off 21 points at 7,603.

Only five of the TSE’s 14 sub-indices were ahead on the day. Among individual issues, market trend was also negative with decliners outpacing advancers 531 to 476. Today’s volume was low with only 110 million shares changing hands.

Look for the TSE 300 to open low tomorrow as well. JDS is being slaughtered in after hours markets following a dreadful earnings report at the closing bell. The company lost a massive $5.99 a share this quarter and announced more job cuts.

Among financial stocks, CIBC was under considerable selling pressure, finishing down 4.44% at $50.60 on the heels a rate cut by an analyst concerned about the bank’s exposure to weak capital markets. Scotiabank also ran into heavy selling, dropping $1.35 to close at $45.05.

Other earnings horror stories today include, Corus which was off a massive 12.13% after analysts downgraded it in the wake of a negative earnings report.

Shares in Rogers, although off for much of the day after reporting earnings this morning, recovered by the end of the day and actually advanced, rising to close at $25.69, a gain of 79¢. Rogers reported bigger than expected losses. Rogers Wireless stock was off 15¢ at $28.44.

Venture capital plays didn’t fare much better today. The CDNX was off five points at 3,075 on volume of 30 million shares. Market trend was neutral with advancers barely edging out decliners 178 to 177.

The Canadian dollar continued to strengthen today, climbing 0.31% to close at US65.27.

On Wall Street markets overcame earlier losses and rallied this afternoon. All the major indices closed with slight gains on the day.

The Nasdaq composite index was especially vigorous, ending the day up 39 points at 2023, a gain of almost 2%. The Dow Jones industrial average added 50 points to close at 10,456, while the and the S&P 500 advanced 12 points to close at 1,203.