Markets were initially higher on Monday but went lower late in the trading day and the S&P 500 ended the day down 0.9% while Toronto ended the day down 0.5%. The late-day decline was blamed on the virus situation and the reversal of some of the economic openings.
Among the decliners: Shopify was down 6.2%, Toll Brothers was down 5.1%, and AutoCananda was down 5.4%.
Moving the other way, TFI International was up 3.2%. Stantec was up 2.5% and the Melcor REIT was up 4.8%.
U.S. companies will begin reporting Q2 earnings this week. Canadian companies tend to report somewhat later with many four to six weeks or more after the end of each quarter. However, when the Canadian companies report they do so with a full management discussion and analysis as well as financial statements along with a press release. In the U.S. we usually see a presss release quite early but the full financials statments and report comes later. I prefer the Canadian system. A few Canadian companies including CN Rail manage to get a full report out very early within about three weeks from the end of each quarter.