Investors hoping for rally to continue
Markets Economists have been calling for the North American stockmarket rally to lose steam for weeks, and yet it still persists, asinvestors keep their adrenaline high and their optimism even higher.
Markets Economists have been calling for the North American stock market rally to lose steam for weeks, and yet it still persists, as investors keep their adrenaline high and their optimism even higher.
And so the question remains on the minds of traders for another week — will this rally lose its momentum? For now, the answer appears to be “No.”
“In the U.S., if neither hundreds of thousands of job losses, nor tens of billions in capital requirements for banks can’t scare away the optimists, nothing in the coming week ought to,” wrote CIBC World Markets chief economist Avery Shenfeld.
The economic data on the schedule this week isn’t expected to encourage any drastic sell-off by investors, who have found their optimism with signs that U.S. job losses are slowing, and more Canadian jobs added in April.
On the calendar this week is the Canadian new housing price index for March today and Canadian international trade numbers for March, which could show a surplus.