On Tuesday, the S&P 500 fell 1.1%. Despite the headlines, this is minor decline in the context of recent gains.
Toronto was down 0.9%.
Canadian Western Bank was down 2.7%.
Stantec was up 1.3% which was a nice gain on this negative day.
Boston Pizza Royalties Income Fund was down 2.0% to $21.52 and seems tempting for its 6.4% yield.
Linamar was down 2.7% to $70.84. It appears to offer good value but could certainly fall on concerns about NAFTA.
Shaw Communications is offering buyouts to some 6500 employees and apparently expects some 650 to accept the offer. This is bad news for the company and for the economy. I understand the severance offered is 6 months plus one month per year employed to a maximum of 30 months severance. It would be unfortunate to be offered say 18 months pay to leave and not be in a position to take the offer for fear of not getting another job or not being in a position to retire early.
It appears that British Columbia is refusing to accept the jurisdiction of the federal government when it comes to oil pipelines and oil exports. In my view, the Federal government should exert its authority forcefully.
Meanwhile, the oils sands industry in Alberta appears to have recklessly over-invested in advance of securing pipeline capacity and the result is the low Canadian heavy oil price resulting in low profits and therefore low income taxes and and also resulting in low royalties collected.