Markets rose once again on Monday with the S&P 500 edging up 0.1% and Toronto rising 0.5%.
FedEx was up 2.4%.
BHP Group was up 2.4% after announcing it has a deal to divest a metallurgical cola operation.
I’m starting some work on the valuation of the market. Based on valuation and the the strong market gains in recent years, my sense is that we may be at or near a market peak. That does not necessary lean its time to get out. But it’s probably time to have more modest expectations and to be cautious.
Perhaps the market will start to pay more attention to inflation. Apparently the next inflation number to be reported for the U.S. is expected to be 5.9%!
Meanwhile Amazon is investing some $4.3 billion dollars to build a cloud computing hub in Calgary. To my mind that is BIG news. It’s hard to have a feel for numbers in the billions, but that is a big investment. I would not have guessed that it was possible to invest that much in a computing hub. Or maybe the story is misleading because the $4.3 billion will not be fully invested until 2037! Well, if it is not really BIG news it is at least good news for Calgary.