October 20, 2020

On Tuesday, the S&P 500 was up 0.5% while Toronto was unchanged.

CRH Medical bounced up 5.6%. Linamar was up 3.2%.

AutoCanada was down 3.7%.

CN Rail reported earnings after the close which were apparently a little below analyst expectations. Transport stocks have dome very well in recent months. CN is now expensive in relations to its earnings.

Q3 earnings will be coming in from many companies and we see how they did as the pandemic settled in over the summer.

The latest Teranet index of the price changes on existing (as opposed to new) homes was out today and shows year-over-year gains as of September in most of Canada -There were double digit year-over-year price gains in Halifax, Ottawa, Montreal and Hamilton. Edmonton was down 0.8% and Calgary was down 2.8%. September saw increases versus August in all the major cities in Canada although Calgary was only up 0.1%. The bottom line is that the prices for existing houses were strong in September. Low interest rates are supporting demand for existing and for new houses.

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