Bailout Vote Will Help Determine Trajectory of Commodity Stocks

Yet another rebound on the Toronto exchange was in progress Friday morning and leading the charge was - you guessed it - commodity stocks.

Shares in gold giants Barrick Gold Corp. (ABX) and Goldcorp. Inc. (GG) are up 7% and 10%, respectively, despite another drop in gold prices, while oil stocks Canadian Natural Resources Ltd. (CNQ) and Suncor Energy (SU) were 5% and 7% on slightly rising crude prices.

Whether the upward swing can continue will depend massively on the decision by the U.S. House of Representatives, expected Friday afternoon, to vote yah or nah to the $700-billion bailout package for the financial services industry.