The U.S. markets finished the week at all time highs. Nothing surprising there, stock markets don’t reach new all time highs every week or every year, but over time all previous highs do tend to eventually get eclipsed. The major reason for taht is taht companies on the stock market are generally profitable and they generally retain a portion of earnings to fund growth each year. Economies and stock markets do tend to grow in the long term. But do remember that stock markets don’t move higher every year.
On Friday our biggest gainer was Liquor Stores N.A. up 3.2%.
This week will bring more earnings reports and who knows what other news. Seldom a dull moment.
The Canadian Tire REIT may also start trading this week. I believe the IPO closes on Wednesday. (Meaning, the money changes hands that day). If the REIT trades up then the Canadian Tire Shares may go up a little as well. I don’t really expect much further impact from the REIT on the Canadian Tire shares at this point. The Q3 earnings report will be important. Also any indications of further financial engineering such as a partial sale of the financial services operation (which has been alluded to) could be positive.