Wednesday’s session saw the S&P 500 up 0.85% and Toronto up 0.7%.
Starbucks was down 3.55%.
Oil was higher and is at U.S $72.45 this evening.
Alberta is introducing a Vaccine Passport and a partial lockdown. Not good news for the restaurant and bar industry which for the last few weeks have had to stop selling Alcohol at 10 pm and now face indoor dining closures unless they accept vaccine passports to get an exemption.
Not great news for commercial REITs including Melcor REIT – but I think the Melcor REIT is cheap enough that it should not be pushed down on this news.
Alcanna the Alberta liquor store chain should benefit. I had soured on it due to its expected lower sales as they divested a lot of stores outside of Alberta and due to losses in Cannabis. But this latest news is directionally good for them.
Yesterday I said that August housing starts would be out today. They come out on the 11th working day of the month. Actually that is tomorrow.