November 22, 2023

On Wednesday the S&P 500 was up 0.4% while Toronto was about unchanged.

Most stocks on our list were up on the day.

Canadian Tire was down 2.7% and it was also down yesterday. The worry is that much of what it stocks is discretionary in nature. It also faces risks from credit card delinquencies. The stock is down substantially and so it seems cheap but it may continue to be out of favor. But it has been a long-term winner and well managed company and I expect that to continue.

Thursday and Friday will likely be quieter times for the markets given the Thanksgiving holiday. U.S. markets will be closed on Thursday.

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