Canada’s main stock market gained another near 60 points on Monday, adding to the near 90 points gained Friday and taking the Toronto Stock Exchange further above the 21,000 level, back to within 200 points of recent 52 week highs.
Today’s gains on the resources heavy index were achieved despite a mixed performance from commodity prices, and amid market talk that the rate cut cycle across North American won’t now get underway until June at the earliest. Most sectors were higher Monday, with Base Metals and Energy leading the way, both up more than 1% despite the mixed prices. Info Tech was the biggest mover and loser, down near 1.5%.
For their part, Macquarie strategists in bidding to put a finger on the ‘market pulse’ have found there is an “implicit link” between stock market multiples and monetary policy, or more specifically Fed policy. In a note dated February 12, 2024, Thierry Wizman, Global FX & Rates Strategist at…
