May 17, 2022

Markets had a bounce upwards on Tuesday as the S&P 500 was up 2.0% and Toronto was up 1.4%.

Notable gainers included FedEx, up 5.6%.

Toll Brothers was up 3.4%. This stock has been pushed down by fears of what higher interest rates will do to their home sales. Meanwhile they continue to announce new multi-family projects. They will release earnings next week and then we will learn something about the impact of higher borrowing rates on their sales. Inflation could also be a significant concern.

With Costco down 0.8% to $490, I bought a few shares. I am buying back some of what I sold at higher prices a few months ago. Costco remains very expensive in relation to earnings. I’ll add a bit more if it happens to come down to $450.

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