Strong first week for TS X sets up year ahead: analyst

Canada’s main stock index concluded a strong first week of 2021 by setting another record intraday high — and that could be good news for investors in the year ahead. The S&P/TSX composite index climbed 3.5 per cent last week, potentially signalling a strong year to come. “Historically, when you do have a strong week or strong month in January that does tend to lead to a strong year,” said Philip Petursson, chief strategist at Manulife Investment Management. He said the week was packed with “perhaps a year’s worth of excitement” with the Georgia election run-off, OPEC’S move to cut crude production, a riot in D.C., U. S. President Donald Trump conceding defeat, higher 10-year bond yields and weaker jobs reports. Democrats winning control of the Senate encouraged investors to anticipate fiscal stimulus.