July 31, 2019
On Wednesday, the S&P 500 fell 1.1% after the FED gave the markets a 25 basis point interet rate cut but apparently did no promise firmly enough to do more of the same in future. Toronto was down 0.4%.
Canadian Western bank was up 3.9% after lenders Equitable Bank and Home Capital reported strong earnings in Q2. CWB has an alternative mortgage division which is presumably also doing well. CWB and the large banks reached the end of their Q3s today and will report probably toward the end of August.
AutoCanada rebounded 4.1%.
Penny stock Ceapro was up 8.5% to 44.5 cents.
After the close, CRH Medical reported Q2 earnings. The report looked good with higher revenues and profits. However the EBITDA margin was down somewhat so the market may focus on that rather than the good aspects of the report.