On Friday the S&P 500 was down 0.9% and Toronto was down 0.5%.
CN Rail was up 2.4% after announcing some new plans to boost profits. They also indicated that they will actually come out ahead by about 600 million dollars in deal0break fees when the dust settled. I believe they may be booking that now but I wonder if some of that depends on the CP deal to buy Kansas City actually getting approved. It’s been quite a saga. I’m glad I bought back about half of the CN shares I sold. I’m too stubborn to buy the other half back unless the price drops to about the $147.50 which I sold at. In the meantime I bought Enbridge shares and it is another high quality company.
Couche-Tard was down 3.0%. I mentioned some risks in my recent update but overall this still seems like a good long term holding.
AutoCanada bounced up 4.0%.
Markets appear set to open moderately lower on Monday.
It’s election day in Canada and the outcome could affect markets on Tuesday.