Thursday was yet another positive and record day in the markets. The S&P 500 was up 0.3% and Toronto was up 0.5%.
The Energy ETF, XEG was up 3.5% as oil touched $70. This likely has room to keep going up. The opening of Enbridge’s line 3 capacity addition could be a spark there. Speaking of Enbridge, I have not analyzed it but I like its prospects and I may buy some tomorrow.
Aecon was notable with a 3.3% gain.
Canadian auto sales numbers for August were released by Desrosiers today (man they are fast). They were disappointing with an 11% decline versus August 2020. In part this was blamed on microchip shortages which they say could persist through the end of this year. If there is a shortage of vehicles for sale and if demand is stronger than supply, that could be good for profitability at AutoCanada and other car dealers.