On Monday the S&P 500 was about unchanged and Toronto was up 0.2%.
Shopify gained another 3.7%.
This week a number of Canadian companies on our list report Q1 earnings. This includeds Melcor Developments, Canadian Tire and Stantec.
U.S. stocks are set to open slightly down this morning.
Interest rates are a huge driver for both real estate and stocks. Government bond rates have been relatively stable recently. The Canadian 5 year government bond is at 3.1% and in the past two months has been relatively close to 3.0% after declining from 3.6% when Silicon Valley Bank failed. This decline to 3% has been positive for stocks and residential real estate.
I notice you can get about 4.6% on a 1 year GIC and 4.3% on a 5 year. That’s worth considering for a portion of a portfolio especially for people looking for simplicity as well as safety. I’m thinking of a senior for example with a modest portfolio where safety of principal is paramount.