Tuesday was a negative day as the S&P 500 was down 0.2% and Toronto was down 0.8%.
American Express got spanked down 4.2%.
CN rail notes that inter-modal shipping container movement across North America is down about 7% and suggests this indicates weaker consumer spending. Warren Buffett has said that he considered rail car shipping numbers to be a key economic indicator. (He also has always said that he buys companies for the long term and does not base investments on short-term economic conditions).
Today’s market mover will likely be the FED announcement on interest rates.
I will have some updates to the reports in the next few days.