August 16, 2016

On Tuesday, the S&P 500 was down 0.6% and Toronto was down 0.5%.

Alimentation Couche-Tard was up 3.1% on rumors that it will announce a major acquisition.

Statistics Canada reported June auto sales. In Alberta the June sales were up slightly versus last year though still down 17% versus 2014.

For Canada overall, the June sales were up 7% versus 2015 which in turn had been up 1% versus 2014.

While AutoCanada is concentrated in Alberta, these numbers don’t look bad at all. Alberta auto sales are down 17% versus 2014 but that would seem to be more than fully reflected in the share price decline.

Statistics Canada also reported that manufacturing sales in Canada rose moderately in June following a similar sized decline in May.

Oil is trading above $46.

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