Market analysts have detected a stumble in the step of recent US stock rallies and noted that Canadian equities seem to be gaining ground.
Media reports indicated that the Canadian stock market achieved a record high in July 2024 and has increased by 8% so far this year. Despite this uptrend, it could not keep pace with the S&P 500, which has gained almost 15% since the start of 2024.
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In the US, mega-cap equities with a market value of more than $200bn were behind the spike in rallies, while Canada’s performance relied on a wider spread across the canvas of listed stocks. It seems that Canada is catching up with its southern neighbour as rallies in US markets are reined in. In an interview, the chief investment strategist at BMO Capital Markets, Brian Belski, said:
This…
