On Wednesday, the S&P 500 was down 0.7% and Toronto was down 0.8%. Today, the market took notice of Trump’s trade was threats and his insults to NATO and Germany. It’s hard to argue with his economic success so far. Time will tell if that continues. But if there was ever a man who seems drunk on power it has to be Trump.
BHP Billiton was down 5.0% in New York. The prices of the commodities it sells including iron ore and copper have fallen.
Linamar was down 2.6%, presumably on trade war concerns.
AutoCanada was down 2.0% presumably for the same reason.
The next update will be for Couche-Tard and it will likely be rated (higher) Buy at $60.30.
The Bank of Canada increased its benchmark interest rate by 0.25% to 1.5%. With the ten year government of Canada bond yield at 2.16%, higher interest rates are not yet at a level where they pose any real threat to equity valuations.