On Thursday, the S&P 500 was unchanged and Toronto was up 0.6%.
Oil has fallen 2.9% to $43.41 this evening and so Friday will likely be a down day on Toronto.
Dollarama was up 4.4% today to $101.19. This was after it reported a strong earnings report.
Costco was down 3.6% to $156.21. This was after reporting August same-store sales figures as well as its Q4 revenues – its fiscal year ends in August.
Canadian Western Bank reported results that were lower than last year but apparently about as expected. So far it does not appear that there is anything really bad on the horizon in terms of loan losses. There is probably still some risk of higher loan losses in loans to condo projects. But overall, even if the bank suffered a period of negative overall earnings – which it does not expect – it would still survive and continue to grow over the years. With a price to book ratio of 1.12, I believe the risk reward ratio here remains favorable.
The big market mover on Friday will likely be how the jobs report turns out.