October 11, 2016

On Tuesday, the S&P 500 was down 1.2% while Toronto was down only 0.1%.

There were no particularly large moves in the stocks on our list.

CMHC reported that housing starts were up strongly in September. In Alberta, single family starts were marginally higher than September last year. As always, we should not read too much into a single month’s report. The impact of last week’s changes to mortgage rules is far from clear but seems likely to be negative for housing starts to some degree.

Oil declined somewhat but remains near U.S. $51.