Markets were very strong on Tuesday as the S&P 500 rose 1.45% and Toronto rose 1.3%.
Shopify was up 4.1%. TFI International was up 3.1%.
My next update will be for CN Rail. What I see so far is that rail car loadings are down for the industry in Canada and have been running below last year’s level since early this year. In the U.S. the industry decline is even worse with rail car loadings running noticeably below both 2022 and 2021 levels all year. Intermodal (consumer goods) are down noticeably in both Canada and the U.S. This is not something I have heard much about in the financial press and certainly looks like a recession indicator to me. CN is great long-term hold but it is facing some rare headwinds at this time.