[theme music] Shares of Lennar are down about nine points or four points, just over 4 1/2%.
And that’s your market update.
Canadian retail spending came in stronger-than-expected in July, even as Canadians continue to wrestle was still elevated interest rates and a softening job market.
Retail sales rose 0.9% month over month in July, reversing the two-month downward trend and beating stats Canada’s estimate of a 0.6% gain. Today’s rebound in retail sales was led by stronger auto sales which recovered from a pullback in June.
The rest of the categories also told an encouraging story as growth in food and beverage stores as well as health and personal care and some of the clothing retailers saw strength in the month likely driven by strong population growth in Canada. The biggest rags were building material and garden equipment and supplies dealers and gasoline. Despite a good start to the quarter, TD Economics is the …