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The main TSX benchmark staged a sharp recovery of 7.3% in the fourth quarter of 2023, delivering its best performance in 10 quarters. This Canadian stock market rally started due mainly to investors’ hopes that central banks in the United States and Canada are ready to slash interest rates. However, the hotter-than-expected latest consumer inflation data from the United States has once again reignited the possibility that the Federal Reserve will keep interest rates elevated for an extended period. This is one of the key reasons why the TSX’s index is continuing to witness a roller-coaster ride in January 2024.
Despite the ongoing economic uncertainties, the strong fundamental outlook of many growth companies makes them stand out in 2024. That’s why any short-term declines in their share prices could be an opportunity for long-term investors to buy them at a big bargain. In this article, I’ll…
