January 24, 2024

On Wednesday the S&P 500 edged up 0.1% while Toronto was about unchanged.

CN Rail was down 1.8% despite reportedly beating expectations with its earnings release.

The Bank of Canada left its key policy rate (the overnight inter-bank target lending rate) at 5.0% and seemed to indicate that no one should hold their breath waiting for an interest rate cut. It will happen only when inflation is under better control.

The Trans Mountain pipeline is finally inching towards completion with line fill to take place mostly in March and the first shipments around the start of April. This is good news for Alberta.

A report indicates that light vehicle sales in December rose 14% year-over-year in Alberta, the strongest of any province. This is good news for AutoCanada which has a relatively heavy concentration of dealers in Alberta.

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