The year 2024 proved to be remarkably strong for equity markets, with US and Canadian markets showing significant gains. US equities achieved back-to-back double-digit returns in 2023 and 2024, driven largely by AI-related technology stocks and a broadening rally across sectors. The S&P/TSX Composite Index posted its best performance since 2021, demonstrating the resilience of Canadian markets despite economic headwinds.
FOURTH QUARTER HIGHLIGHTS
- • S&P/TSX Composite hits a new all-time high of 25,843.20 on Dec 9th
- • S&P 500 hits a new all-time high of 6,099.97 on Dec 6th
- • Canadian dollar hit a post-covid low of $0.6915 USD on Dec 18th
- • WTI Oil was range bound ending year at $72.38 USD
- • Bank of Canada lowered overnight rate by 1.00% to 3.25%
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