Wednesday’s action saw the S&P 500 end the day up 3.9% in partial a rebound from recent losses. Toronto was up 1.7%.
Almost everything was up. Apparently some very nice bargains were picked up in the past few days.
Meanwhile my road trip continues as I was in Peterborough yesterday with a stop-over with relatives (where my computer refused to connect to the internet. Quebec City tonight.
As I traveled the highways I see that both Canada and the U.S are sparsely populated in many stretches and I also seemed to see a lot of prosperity. Most of the businesses certainly seem to be in newer buildings. The housing stock is mostly newer and there are very few junky looking cars on the highways.
I don’t understand all the reasons why but it is apparent that the Cities are more prosperous than the rural areas. Certainly there are some poor areas but really the two countries look in good shape to me as far as the installed bases on commercial buildings, houses and highways.
I don’t expect the increase in average living standards to end any time soon nor do I expect the markets to stop trending up over the longer term.