Canada’s main stock index is limping behind the S&P 500’s blistering performance so far in 2024. BMO Capital Markets chief investment strategist Brian Belski says that could change in the second half of the year.) hit all-time highs in May as investors anticipated more dovish policy moves from central banks. Now, Belski says the TSX is “poised to reverse course and begin to overtake its neighbour to the south for the remainder of 2024.
BMO Capital Markets expects the TSX Composite to deliver a 9.5 per cent return into the end of the year. The bank sees the S&P 500 booking a 5.5 per cent return.For the TSX, Belski says it’s a good sign that two out of three of its largest sectors are outperforming the rest of the index, those being energy and materials.
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