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Banks Add Almost $300B in Cash 

The cash position of Canada's domestic banks, which typically grows at a few percent a year as the carefully tuned balance sheets of banks keep up with economic growth, almost doubled in the first few months of 2020, growing from $310 billion at the end of 2019 to $604 billion at the end of April.

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S&P 500 Opens Above 3,000

Today's trading was positive, with the Dow Jones Industrial Average gaining almost 2% from its previous close, and the S&P TSX Composite gaining 0.5%. The big news, however, was the S&P 500 opening above 3000 and closing at 3036.25.

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Oil Rallies Above $30/Barrel

Today's trading continued the broadly unspectacular but positive gains we've seen over the past couple weeks. The S&P/TSX Composite Index closed up 0.5%, the Dow Jones Industrial Average closed up 0.6%, and the S&P 500 closed up 0.9%.

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Oil Down 20%; DOW Over 24,000

Today's trading continued last weeks light gains, with the Dow Jones Industrial Average closing above 24,000 for the second time since March 10th. Volatility in WTI oil continued apace, as the price of June WTI contracts declined more than 20%, but Brent Crude closed down 6.3%.

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Who Does Well in a Recovery?

Today's trading lacked the sizzling action of previous weeks, although that's likely a welcome change. The Dow Jones Industrial Average closed up 1.1%, the S&P/TSX Composite gained 1.2%, and the price of oil (Brent crude, to be precise) added 2.4% after a wild week, closing down 22% from last Friday.

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