March 25, 2018

On Friday, the S&P 500 was down a hefty 2.1% and Toronto was down 1.1%.

Most stocks were down…

Canadian Western Bank was down 2.8% to $33.22. I grabbed a few more shares on Friday.

Couche-Tard was down another 1.7% and I added modestly to my position in this company.

Stantec was down 2.3% to $31.72

AutoCanada however was up 4.0% as the market digested news of the acquisition of eight dealers around Chicago which it announced on Thursday morning.

Futures markets on Sunday evening are suggesting stocks will open modestly higher on Monday morning.

Statistics Canada reported on Friday that the consumer price index in February was 2.2% above that of February 2017. This apparently increases the betting that the Bank of Canada will raise interest rates at its next meeting in may. The lower Canadian dollar should contribute something to inflation in Canada.

In the U.S. I wonder if the lower corporate taxes will lead to price decreases in some highly competitive sectors such as groceries.