November 3, 2021

Wednesday was another strong day in the markets after the FED chair announced that the FED would be tapering its bond buying starting this month but left interest rates unchanged and after the market found his words to be soothing.

The S&P 500 was up 0.65% and Toronto was up 0.45%.

TFI International was up 4.5%.

West Fraser Timber was up 3.65%.

After the close, Costco reported that October same-store sales were up 11.8% (after adjusting for currency and gasoline prices fluctuations). The gain was actually 17.5% before the adjustment. The adjusted number is considered to be the better measure.

Looking back, last October saw an increase of 16.5% in adjusted same-store sales. So the increase this year is on top of the big increase last year. It’s remarkable. 


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