Canada Stock Market’s Sharp Rally Can Run Longer Than S&P 500’s
- S&P 500 is seen in a downtrend by January, Rosenberg says
- S&P/TSX has more attractive valuations, higher dividend yield
The S&P/TSX set dozens of record highs this year aided by Bank of Canada rate cuts, surging commodity prices and tech sector growth.
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The rally in Canadian stocks this year could run longer than the one going on in US equities, offering encouragement for American investors to look North, according to Toronto’s Rosenberg Research.
“US-based investors should strongly consider moving from New York to Toronto,” Rosenberg Research founder and president David Rosenberg wrote in a note to clients Tuesday, citing Canada’s favorable long-term stock market momentum outlook.