February 3, 2023

On Friday, the S&P 500 was down 1.0% because the huge January job gains at 517,000 net new jobs stoked fears that the end of the interest rate hikes is no so nigh after all.

Toronto managed a gain of 0.1%.

Starbucks was down 4.4% as its China sales were weak. 

American Express was up another 3.3%.

I did trim my AutoCanada position today. I had added to it at $22 and $24 in recent months so I am just selling some shares and still have a good exposure to the company. 

Selling in a (potentially still) rising market tends to look like a mistake and it may be. But in my case it seems prudent to raise some cash both for portfolio stability and to possibly purchase other names.

 

 

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