December 27, 2018

On Thursday, the U.S. markets appeared set to take back most of Wednesday’s big gain. But the market rallied into the close with the S&P 500 up 0.9%. With the markets swinging up and down for no particular reason, the next move(s) are not something I can guess. The turmoil in Washington certainly looks set to continue.

Toronto was up 2.8%.

The Canadian dollar is down to 73.4 U.S. cents. That is good news for Canadian exporters including notably energy producers. It is not good news for importers and should show up as inflation in imported groceries and consumer goods of all sorts.

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