The Week of October 30th to November 5th, 2017 “A Brief Look Back Into Tomorrow”






The new North American trading week began on Monday, October 30th with the surprise announcement that liquor giant Constellation Brands (STZ-N) had purchased a 9.9% interest in Canada’s largest marijuana grower Canopy Growth (WEED-T for a cash disposition of some $245-million.




Mogo Finance (MOGO-T) shares’ soared up by 31% to $5.15 after the company announced it was adding blockchain capabilities to help integrate Bitcoin and other cryptocurrencies into its digital world.


The price of CalAtlantic Group (CAA-N) surged up by over 21% to US$49.07 on word that Lennar Corp. (LEN-N) was buying its counterpart in a cash & stock deal of some US$5.7-billion that will create America’s largest homebuilding company.




Tuesday, October 31st had Statistics Canada report that he country’s gross domestic product or GDP fell in August by a unexpected 0.1%.


Market technical analysts David Tippin & Ron Meisels commented – “…the markets…are increasingly overbought and the prospects for a pullback are getting stronger.” (For a complete copy of this report please contact Rod.Blake@canaccord.com.)




Alterra Power (AXY-T) shares’ soared up by 55% to $7.84 on word that the alternative power company had accepted a $8.25 cash & stock buyout from fellow company Innergex Renewable Energy (INE-T).




The price of Puma Explorations (PUM-V) stock rocketed up by almost 47% to $0.11 after the junior explorer released encouraging drill hole copper/gold/lead/silver & zinc assays from its Murray Brook project in New Brunswick.




Kellogg Co. (K-N) shares’ rose by over 6% to US$62.53 after the giant foods company reported its first quarterly sales increase in the past 2-years.




DesRosiers Automotive Consultants reported on Wednesday, November 1st that Canada’s auto sales rose by 6.3% in October from one year ago to 164,200 units and were up by 5.6% for the year to date to 1.76-million vehicles.




Centerra Gold (CG-T) shares’ fell by 9% to $7.97 after the miner lowered its 2017 production guidance for its Mt. Milligan mine in central British Columbia.




The price of Estee Lauder (EL-N) stock rose by over 9% to US$122.11 after the world’s second largest cosmetics company forecast improved sales for the holiday season ahead.




Thursday, November 2nd had Tesla Motors (TSLA-Q) report a 3-month delay in target production for its new Model 3 sedan due to production bottlenecks.




The price of Blue Apron Holdings (APRN-Q) shares’ plunged by over 18.5% to US$3.80 after the meal delivery company reported an unexpected drop in subscriptions.




L Brands (LB-N) stock gained 8% to US$47.15 after the women’s apparel retailer beat the streets expectations with its October sales.




Friday, November 3rd saw Statistics Canada report that the economy created a better than expected 35,300 new jobs in October while the unemployment rate held steady at 6.3%.




Meanwhile – the U.S. Labor Department reported they created a less than expected 261,000 new jobs in October and their unemployment rate fell by another 0.1% to 4.3%.




Statistics Canada also reported that the country had a trade deficit in October of some   $3.2-billion.




Petroleum industry analyst Baker Hughes (BHGE-N) reported that the number of active American drilling rigs fell by 11-rigs last week to 898 active rigs – while to the north – the number of active Canadian drilling rigs rose by 1-rig to 192-active drilling rigs.




After two appearances in bankruptcy court Stelco Holdings (STLC-T) began trading once again and the 107-year-old Hamilton, Ontario based steelmaker saw its shares’ rise by 13% on its first day of trading to $19.20.




Apple Inc. (AAPL-Q) shares’ rose by almost 3% to US$172.45 after the giant electronics company not only handily beat analysts’ expectations with its 4th-quarter financials – but better yet – raised its sales forecast for its new iPhoneX cell phone.




During the Weekcrude oil rose to a new 2-year high of US$55.68-a-barrel as the TSX Composite Index reached a new all-time closing high of 16,029, while the American Dow Industrials and NASDAQ Exchange climbed to respective new record highs of 23,539 and 6,764, and the VIX fell to new all-time low of 9.14.




Bombardier Inc (BBD.B-T) at 3.13, North American Palladium (PDL-T) at $9.35 and Yangarra Resources (YGR-T) at $4.12 all rose to new TSX 52-week trading highs while Alexco Resources (AXR-T) at $1.41, Celestica Inc. (CLS-T) at $12.62 and Mountain Province Diamonds (MPVD-T) at $3.50 all fell to new 52-week trading lows.




For the Week – the Dow Industrials rose by 0.45% to 23,539, with the S&P 500 up by 0.27% to 2,588 and the NASDAQ ahead by 0.94% to 6,764. In the winter is here north – the TSX composite gained 0.41% to 16,020 and the TSX Venture Exchange improved by 0.64% to 792.




With Commoditiesgold bullion eased lower by 0.08% to US$1,271, while copper gained 0.65% to US$3.13, with crude oil up by 3.30% to US$55.68 and natural gas up by 1.01% to US$2.99. Overall, the CRB Spot Commodity Index improved by 0.23% to finish the week at 429.




The Canadian dollar rose by 0.35% against its southern neighbour to end the week at US$0.7833.




And the closely watched CBOE Volatility Index or VIX dropped by 0.66-point to finish the week at a very calm level of 9.14.




And Finally – As the baseball season has ended and hockey, football and basketball carry on, it was of interest that according to a recent Washington Post UMass Lowell poll56% of men and 62% to women will yell at their televisions at some point during a sports broadcast.


Posted November 7, 2017


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