Monthly market snapshot

Monthly Overview. Canada’s main stock index and all the major U.S. indices declined in February as risk-off sentiment dominated the market due to several bearish narratives. Concerns about growth and stagflation arose from softer economic readings, while uncertainty around U.S. President Donald Trump’s trade, immigration, tax and Ukraine policies added to the market’s unease. February consumer confidence saw its biggest decline since August 2021. 

Monthly Overview.  Stocks started the year off strongly, after mostly declining last month. Canada’s main stock index rose to a record high in January, after safe-haven demand fostered by the threat of U.S. trade tariffs lifted the price of gold. The S&P 500 also reached new record highs during the month, as investors digested a stack of key earnings reports, including some from high-flying technology companies. 

Monthly Overview. Equity markets were generally weaker in December, although the limp into the end of the year was not enough to tarnish what was a stellar year for stocks. The rally in 2024 was driven by a positive backdrop of resilient economic activity, robust corporate earnings growth, and easing monetary policy by global central banks. 

Monthly Overview.  Equities staged a broad-based post-election rally in November. The S&P/TSX Composite Index closed out the month at an all-time high as it recorded its fifth consecutive monthly gain. The S&P 500 also ended November at an all-time high and posted its best monthly performance of 2024.