The Canadian stock market is forecast to improve next year to at least match the performance of the U.S. for the first time since 2010, led by companies raising their dividends such as Rogers Communications Inc. and Brookfield Asset Management Inc.
Cheap is converging with expensive in the American equity market, narrowing options for investors looking for bargains after the broadest rally on record lifted almost 90 percent of the Standard & Poor’s 500 Index this year.
Oppenheimer & Co. Chief Investment Strategist Brian Belski cut his 2010 and 2011 estimates for the Standard & Poor’s 500 Index, becoming at least the third strategist in two weeks to reduce his outlook on U.S. stocks.
Stocks would suffer after an initial jump should the Federal Reserve decide to extend economic stimulus beyond the June expiration of its current quantitative easing program, Oppenheimer & Co.’s Brian Belski said.
Mutual fund investors are on pace to sell Canadian stocks for the 10th straight quarter as slumps in shares from Detour Gold Corp. to BlackBerry Ltd. weigh on the developed world’s third-worst performing equity market.
U.S. stocks fell, after the Standard & Poor’s 500 Index rose the most in almost two weeks yesterday, as investors watched for progress on ending an impasse over federal spending that shut down the government a second day.