April 19, 2023

Both the S&P 500 and the Toronto exchange closed about unchanged on Wednesday.

After the close, Costco increased its dividend by 13%. This is a better kind of inflation. Costco however is not much of a dividend stock as the yield remains under 1%. Costco is bought for capital gains which it has delivered for many years.

Many of the U.S. companies have already reported Q1 earnings. The Canadian company Q1 reports will start to come in next week.

CMHC today reported housing starts for March and they were down. The annualized trend was down to 241,000  versus 256,000 as of February. 

Single family homes in particular were down sharply in most places including Alberta. Hopefully this was an anomaly and it will pick up in the next report. 


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