Canada's main stock index achieved another record high close Friday, after also hitting an all-time intraday record thanks to growing investor optimism about future interest rate cuts. The S&P/TSX composite index closed up 129.
Canada's main stock index achieved another record high close Friday, after also hitting an all-time intraday record thanks to growing investor optimism about future interest rate cuts.
"It was a very good day for the markets. It was a continuation of the optimism that was built yesterday," said Macan Nia, co-chief investment strategist with Manulife Investment Management. All three U.S. indexes had been on track to set all-time highs in afternoon trading but finished shy of them. "If Jerome Powell comes out of the blue and becomes more hawkish and the markets start pricing out Fed cuts this year, that will definitely lead to near-term negativity ," Nia said.
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