June 3, 2019

On Monday, the S&P 500 was down 0.3% while Toronto was down 0.1%.

Shopify was down 4.3%. Amazon was down 4.6%.

Toll Brothers was up 2.4%.

May auto sales were down 5.9% versus 2018 but it was still the third best May on record. Fiat Chrysler sales were once again abysmal as they were down 25%. AutoCanada unfortunately has a heavy concentration of Fiat Chrysler stores although they have many other brands as well.

There was more bad news for Alberta as an Appeals court has reversed the approval of Enbridge’s “Line 3” pending more study of the risks of an oil spill into the Lake Superior watershed. Perhaps it is a very good thing indeed that the fomer NDP government in Alberta had contracted for a large amount of oil by rail. That was supposed to get started slowly starting as soon as July.

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