On Wednesday the S&P 500 was down 0.7% and Toronto was down 0.9%.
Enbridge was down 5.9% to $45.31. That was to be expected when they were selling shares at $44.70. The offering appears to have been over-subscribed and sold out easily. I put in for 300 shares at TD Direct and got allocated only 100. Possibly, TD left the offer open too long?
The Bank of Canada left interest rates unchanged which was expected. Also to no surprise they signaled that they might still raise again this year before they are done. I think the market reaction was fairly muted. The latest thinking seems to be that the FED will raise one or two more times which if true would put pressure on the Bank of Canada to also raise somewhat.
My next update will be for lululemon. It’s expensive but is a real powerhouse. It’s nice to look at a company that is doing so well. Their earnings press releases are quite short. But you don’t have to say a lot when the numbers are stellar and speak for themselves.