TORONTO — Canada’s main stock index finished up more than 300 points on Monday, helped by strength in the materials sector, while U.S. stock markets also surged higher amid a focus on fundamentals.
“You’re seeing this continued momentum, I think people are shrugging off potential noise and sticking to the fundamentals, which I think is a really good thing on that front,” said Sadiq Adatia, chief investment officer at BMO Global Asset Management.
“When you look at underlying fundamentals, things are still looking good. And you’ve got rate cuts continuing on, that should help fuel things.”
He added that despite the ongoing tariff situation, trade tensions between the U.S. and China appear to have “calmed down a little bit.”
Last week, Adatia noted investors saw strong earnings reports from major U.S. banks, including Citigroup, JPMorgan Chase and Wells Fargo.
This week features a raft of big names reporting their…
