Canada’s main stock market gained 95 points on Friday, and this added to the 145 points gained a day before helped take the Toronto Stock Exchange to as high as the 21,440 level, its highest level since April 2022, during today’s session. This is the second Friday in a row that the TSX has hit at least 52 week highs.
Indeed, Douglas Porter over at BMO Economics in his weekly ‘Talking Points’ note noted a “furious rally in equities” this week, perhaps best highlighted by Japan’s Nikkei “finally surpassing its end-1989 peak”. He noted that in the United States the S&P was now up a “cool” 27% from a year ago, while the Nasdaq’s yearly rise was fast approaching 40%, and the Nikkei had even topped that “mighty gain”.
Porter said: “The stock market sprint may revive broader consumer confidence, and could further support growth, in part through the wealth effect. Business capital spending may also be revved up by the equity rally, with M&E…
