On Monday, the S&P 500 was down 0.2% while Toronto was closed for the holiday.
VISA was down 2.7%.
Markets appear set to open moderately higher on Tuesday.
The Melcor REIT announced good results for Q2 on July 27 and will increase the distribution by 17%. It’s still 29% below the 2019 level but this is good progress. They do note that the long-term impacts on its office properties remains to be seen. The market basically yawned at this news.
Melcor Developments will report after the close on Thursday. I expect strong lot sales but the market may not react much to the whatever the news is.
Traveling this past week in Nova Scotia. The economy is surprisingly strong. Halifax is bussing with activity with reportedly more jobs than people available to fill them. A lot of residential buildings going up and some larger commercial projects as well. Traffic was heavy on the highways over the weekend. People are eager to resume a more normal life. This bodes well for the economy.