The Bank of Canada raised its interest rate this morning by 0.25% to 4.5% and apparently signaled that it’s likely done raising rates. Directionally, that is good news for stock prices and longer term rates are coming down in reaction to the news.
But U.S. news drives the market and stocks are down modestly today apparently based on MicroSoft’s “dismal outlook”.
CN rail is down 4.5%. Possibly an opportunity to nibble. CN may fall temporarily but its a good long-term bet.