RESULTS at a glance – 2Q24
Stocks saw mixed results in the first half, with indices surging in the US on the back of a handful of AI-focused heavy weights while only rising modestly elsewhere. 10-year yields meanwhile rose marginally despite Canada carrying out its first rate cut in June and more expected to come, with Canada’s lower rate contributing to the Loonie’s depreciation against the US dollar. Commodities (including gold) benefitted from rate cut expectations and ongoing economic and political uncertainty, with the turbulent 2024 US election just around the corner.
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| MARKETS | QTR-END 28-Jun-24 | YR-END 29-Dec-23 | CHANGE THIS YEAR |
| S&P/TSX Composite | 21,876 | 20,958 | 4.4% |
| S&P 500 | 5,460 | 4,770 | 14.5% |
| EAFE | 2,315 | 2,236 | 3.5% |
| GoC 10-Year | 3.51% | 3.11% | 40bps |
| US Gov 10-Year | 4.37% | 3.87% | 50bps |
| CAD$ / US$ | 0.731 | 0.756 | -3.4% |
| WTIC Oil | $81.54 | $71.65 | 13.8% |
| Gold | $2,327.60 | $2,062.40 | 12.9% |
Returns are based on price change only, and exclude dividends. Foreign indices are in USD.
Source: National Bank Financial, Monthly Market Performance as of June 28, 2024