November 7, 2018

Wednesday, in response to the results of the mid-term elections, the S&P 500 was up 2.2% while Toronto rose 0.5%.

Among the many gainers were:
CRH Medical up 8.4% 
Amazon, up 6.9%
Starbucks up another 3.3%
Visa, up 2.8%

And Canadian Western Bank was up 3.2% despite West Texas oil being down to $61.60. This may have been in response to an announcement by Imperial Oil that it will do yet another Bitumen extraction project. The $2.6 billion project would begin production in 2022. Presumably, Imperial Oil believes pipeline expansions will be in place by then. 

Linamar was one of the few stocks declining ans was down 2.0%. After hours it released Q3 results which included sales up 18.6% and earnings per share up 5.6%. The stock certainly seems under-valued. We shall see how the analyst community digests the latest results.

Also after the close, Costco released strong same-store sales growth figures.

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