On Thursday, we rightfully paused to remember. But the stock markets carried on. The S&P 500 was up 0.1% and Toronto was up 0.6%.
WSP Global was up 5.0% after reporting earnings. It never seems to put a foot wrong.
BHP was up 5.2%
Penny stock Ceapro was up 8.0% after providing a bit of an update on some of its efforts. There was no indication that these research efforts were going to turn into cashflow anytime soon or even be commercialized in any way. Ceapro’s efforts always seem to be a few years away from that at least and it keeps rolling forward. But one day they may announce a licensing deal that will create cashflow. Meanwhile they have a base business that already justifies the current stock price so we are not paying much if anything for the potential of the research to pay off.
AutoCananda was down 5.2%.
Canadian Tire was down 2.95% after releasing earnings. They had growth but not the rapid growth of recent quarters. To me, that seems understandable. They are “lapping” strong quarters where they did well selling sports equipment which was a big seller during the pandemic.
Taking a look at the valuation of the S&P 500, it is a bit shocking to see how far above the trend line earnings currently are. Yet the market seems to assume they can keep growing fairly rapidly. I expect to send an updated article about this tomorrow.