On Monday, the S&P 500 was unchanged on the day while Toronto was down 1.9%.
Oil has retreated to $88 U.S.
Cameco (uranium company) was down 4.7% which comes after very significant gains in recent weeks and months.
The CEO as well as the chair of the Board at Laurentian bank have abruptly left the company after a computer outage adn after a strategic review that went no place. I have no idea what the future holds for that small bank but it’s not such a bad thing to see a change of leadership after stumbles and poor performance.
It’s not clear where markets will head next. Higher interest rates are a definite headwind.
But it may also be an opportune time to accumulate shares in strong companies that are well down from their highs. I think this includes Canadian Tire and CN Rail And Enbridge and RioCan.
I also like the idea of having cash on hand and not being too eager to invest it all. When you can get close to 5% on cash or a short-term GIC, there is no rush.