August 15, 2019

On Thursday, the S&P 500 was up 0.25% while Toronto was down 0.2%.

Canadian Tire was down 2.4% to $131.47. I plan to update the report shortly. My initial impression was that its Q2 earnings report was good, but the market obviously found something not to like.

Walmart is not currently on our list. It jumped an impressive 6.1% today after posting strong earnings.

Toll Brothers will report earnings on August 20. Expectations are for 83 cents per share down from $1.26 last year. I’d like to think it will be above 83 cents. For one thing the share count is down by 3% which should help. The U.S. new home builder market has been weak but Toll Brothers is in a strong position with an excellent land position.

Also, later this month the banks including CWB will report. They should do well but if they report that net interest margins are about to be squeezed down again by low interest rates then that would be a negative for them. Higher loan losses are also a possibility. So far, those predicting higher loan losses have mostly been wrong.

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