September 6, 2022

Stocks moved lower once again on Tuesday with the S&P 500 down 0.4% and Toronto down 0.95%.

lululemon bucked the trend and was up 4.3%. And Starbucks was up 1.9%.

The outlook for stock prices may continue to be negative due to higher interest rates and fears of recession.

But some stocks appear to be very cheap and those with cash can take advantage of that. For example, it’s my opinion that Canadian Tire and Canadian Western Bank represent very good value.

The Bank of Canada will announce its interest rate increase tomorrow morning. The market may not react much unless the increase is different from the expected 50 to 75 basis points.

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