Markets powered ahead some more on Tuesday with the S&P 500 up 0.6% and Toronto up 1.05%.
West Fraser Timber surged 10.2% but I did not see any new to explain that. Possibly an analyst upgrade.
TFI International was up 3.0%.
Statistics Canada reported that Canada’s population surged by 431,000 in Q3, the largest increase ever in a single quarter. The population is now 40.5 million. Non-permanents residents are a huge part of the growth and that’s after deducting those that left during the quarter. As far as corporations go I would say this positive for grocery stores and for Apartment REITS.
Alberta was the only provide that gained in terms of net inter-provincial migration (I’ll call New Brunswick unchanged as a reported net gain of 21 people from other provinces), Alberta seems to have the fastest growing economy in Canada at this time. Hopefully Melcor can finally parlay that into something good. I continue to try to light a fire under their management. I don’t think I’m their favorite person at all.
The Feds introduced aggressive targets for Electric Vehicle sales and Alberta said get lost. It’s not clear yet what impact this might have on AutoCanada.