Monday saw the S&P 500 down 0.2% while Toronto was down 1.2%.
AutoCanda was down 4.9% and Melcor was down 3.7%.
TransForce was up 3.8%.
Valeant was down 4.8% as it failed to convince investors that all is well. With its debt and all its troubles, this is a stock I am steering clear of.
Bombardier issued a “media advisory” indicating that it will host a conference calls for investors and analyst ONLY on Thursday, morning and that they will no longer be taking questions from the media at the end of their calls.
Hmm, seems like they don’t like taking questions. Maybe they should go a few steps further and not take any questions from anyone. The earnings release should speak for itself. They could consider getting rid of their investor relations people to save money. Some companies don’t conduct conference calls or bother having an investors relations group.
Markets this week are expecting the FED to announce on Wednesday that it will, once again, not raise interest rates. Markets are perhaps a bit jittery waiting for that confirmation.
In terms of the economy, rail car loading figures are often considered to be a good gauge.
In the U.S. rail car loading are down somewhat versus last year but ahead of 2013 and 2012. In part this is due to low natural gas prices which has led to less coal being shipped to power plants as they switch to natural gas.
In Canada rail car loadings are down noticeably from last year. And also down versus 2013.
The link here has options to show which types of carloads are up or down. (grain, coal, crude, automobile’s,…) It seems that metallic ores and minerals have really plummeted…
CN Rail will report earnings after the close on Tuesday.