So, the surprise BREXIT result pushed the S&P 500 down 3.6% and Toronto down 1.7%. And it pushed oil down to $47.09 and the Canadian dollar down to 76.6 U.S. cents.
Notable decliners included Bank of America down 7.4%, Wells Fargo down 4.6%. Many stocks were down 2, 3 or 4%.
Some higher yielding stocks managed to rise including Boston Pizza and RioCan.
I don’t think Brexit will have a long-lasting impact on North American stocks. There are many other factors to drive stock prices including Q2 earnings, economic data and the presidential race. It is ALWAYS the case that stock market directions are uncertain in the short term.
You can be just about guaranteed that Warren Buffett was buying stocks on Friday and that he slept well over the weekend.
Stock futures at the moment are suggesting stocks will open lower on Monday. That does not mean they will or that they won’t close higher.