On Thursday, the S&P 500 was up 0.9% and Toronto was up 0.8%.
Shopify surged another 5.5%.
CN Rail was up 2.2%. In the latest week reported, Canadian rail car loads were equal to the 2018 figure. Forest products, grain and chemicals were lower. The past six weeks had seen increases versus 2018. Interestingly, in the U.S. rail car loads have been running consistently below the 2018 levels since the end of January – this despite the strong U.S. economy.
Canadian Western Bank was down 1.5% to $29.18. I expect it to report another quarter of earnings growth when it reports on May 29. There are never any guarantees but this stock seems cheap relative to its earnings. The stock price no doubt suffers from negative sentiment regarding Alberta. This could start to change with the new Alberta government including the promised corporate tax reductions.