December 21, 2021

Tuesday was the shortest and therefore on average the darkest day of the year but on the markets it was a bright day as the S&P 500 roared up 1.8% and Toronto outdid itself with a 1.9% gain.

One reason may have been that some life was apparently breathed back into President Biden’s hoped for Infrastructure spending Bill as the hold-out Democratic Senator Joe Manchin is apparently open to negotiation. (It must take a HUGE ego to single-handedly hold up a 2 trillion dollar spending bill that is important to the U.S. economy.)

Shopify gained 6.5%. That may be because it would be set to benefit from brick and mortar store closures. 

Couche-Tard was up 5.5%. It announced a small acquisition but not big enough to explain such a gain.

I suspect we will see more volatility ahead as the market tried to predict the future.

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