Markets had a down day on Wednesday with the S&P 500 down 0.8% and Toronto down 0.6%
U.S inflation was reported this morning at 6.2% year-over-year. That was the highest level since 1990. This would be very serious if it continues. The market finally took a bit of notice today.
AutoCanada was down almost 16% on its earnings report. It continues to be very volatile.
Going the other way, Linamar was up 5.6% on its earnings report and WSP was up 3.55% also after reporting earnings.
I’m working on an update of my analysis of the valuation of the S&P 500. I expect to complete it tomorrow.
TD Direct this afternoon had an offering of a U.S. dollar 6% convertible debenture for American Hotel Income Properties. I put in for some. Again, these IPOs have to be bought mostly on faith as there is no time for analysis typically.
After the close, RIWI reported a 23% increase in revenue. But they did not mention earnings in their press release which is not a good sign.