March 31, 2020

On Tuesday, the S&P 500 ended the day down 1.6% while Toronto was up 2.6% boosted by announcements that the Keystone XL pipeline would be financially supported by the Alberta government and that TCE intended to go ahead with it.

Later Tuesday,President Trump indicated (or admitted) that the Corona virus situation was going to get far worse in the next two weeks. Perhaps partly as a result of that the futures are down somewhat this evening.

Costco will likely announce, in the next few days, blow-out sales figures for March. It’s a high quality company and one of the very few that is apparently benefiting from the virus situation. I bought a few shares today adn would like to add more.

The President at CIBC indicated that they were quite committed to maintaining their dividend. Hopefully, that will be the case for all the big banks and that they have the strength and resources to do that and also the support of regulators.

 

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