On Tuesday, stocks were down after President Trump announced that he would end negotiations (with the Democrats) on a hoped for stimulus package until after the election.
It’s rather sad and ironic that the private sector and stock markets, the supporters of which so often criticize government spending, has become so very extremely dependent on government stimulus.
The S&P 500 was down 1.4% and Toronto was down 1.1%.
The number of home sales in Toronto surged 42% in September versus 2019 and most of the increase came from single-family homes and prices hit a new record high. As a holder of shares in Melcor Developments, I am hopeful that home sales figures (and home starts) in Alberta will also be higher than the market appears to expect.