On Monday the S&P 500 was up 0.4% while Toronto was down 0.1%.
Costco was up another 2.1%. I have long said it’s a powerhouse. But I have been surprised at the recent gains. It’s expensive at 43 times trailing earnings and 39 times analyst forecast earnings. It’s same-store sales have softened somewhat as I have mentioned. But analysts remain enthusiastic. It reports earnings on Thursday.
Canadian Tire was down 2.7% and Canadian Western Bank was also down 2.7%.
The U.S. economy has been growing at a rapid pace while the Canadian economy is quite stagnant.