Monday was yet another strong day in the markets as the S&P 500 was up another 0.7% and Toronto was up 0.3%.
The S&P 500 has risen steeply and steadily for over 12 months now. It can’t keep that up indefinitely of course.
lululemon was up 4.4% after upping its guidance for the current quarter that will end on February 2nd. It’s products are popular and can’t be purchased anywhere else. That’s been a recipe for profitability.
Apple was up another 2.2% and Shopify was up another 2.5%.
There seems to be a pattern of the strongest companies getting ever stronger even as weaker companies go broke.
Stantec was up 2.2% to $38.58. Stantec has had a very good recovery in the past ten weeks from the $28 range. This came after it released Q3 numbers and after it apparently but much of its troubles of the past two years behind it.
The U.S. is set to sign a Phase I trade deal with China on Wednesday. I suspect most of the upside from that has already occurred.
The Q4 earnings reports start to roll in this week as the big banks there start reporting. The banks should do well. Banks rarely fail to make money.