This morning the good news was that U.S. GDP was strong. But the market decided that was maybe bad news since it might point to an earlier end to quantitative easing. S&P 500 was down 1.3% and Toronto was down 0.6%.
Toll Brothers managed only a 0.5% increase on its strong earnings. Canadian Tire came out with strong earnings and a dividend increase but the stock did nothing. (Maybe not so bad on a negative day, and basically a lot of good news was already baked into the price of Canadian Tire.) Melcor fell 2.3% on its earnings, but that is on thin trading so may not mean much. Liquor Stores N.A. was also out with earnings which were I guess a bit on the weak side, although not terrible. It’s shares fell 2.7%.
I hope to update the reports for two or three of these by Sunday. Toll Brothers has not yet released it full financial results but I may be able to at least update the P/E ratio.
U.S. jobs report will come out tomorrow (Friday) morning. Perhaps it will be bad given teh government shutdown that happened in October. Never a dull moment it seems.