{"id":54450,"date":"2024-12-27T17:19:29","date_gmt":"2024-12-27T17:19:29","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/12\/27\/strategists-predict-the-tsx-will-hit-28000-next-year\/"},"modified":"2024-12-27T17:19:29","modified_gmt":"2024-12-27T17:19:29","slug":"strategists-predict-the-tsx-will-hit-28000-next-year","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/12\/27\/strategists-predict-the-tsx-will-hit-28000-next-year\/","title":{"rendered":"Strategists predict the TSX will hit 28,000 next year"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Rising corporate earnings and lower interest rates will help drive the equity benchmark<\/p>\n<div class=\"article-meta\">\n<div class=\"wire-published-by\">\n<p class=\"visually-hidden\">Author of the article:<\/p>\n<p><\/p>\n<div class=\"wire-published-by__author-container\">\n<p>Bloomberg News<\/p>\n<p>Stephanie Hughes<\/p>\n<\/div>\n<\/div>\n<p><span class=\"published-date__since\">Published Dec 27, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 36\u00a0minutes ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"fa802bb4-25ca-425d-8393-31e7294890a1\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The TSX ticker on the outside of the TMX Group headquarters in the financial district of Toronto, Ontario, Canada, on Tuesday, Aug. 6. 2024.\" class=\"featured-image__image type:primaryImage\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=288&h=216&sig=EUznIza1xU8jNpWhCvv3BA,\n                    https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1228-bc-tsx.jpg?quality=90&strip=all&w=576&h=432&sig=aZ-1i1PV_wECrSIOE1Jgpg 2x\" height=\"750\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">The TSX ticker on the outside of the TMX Group headquarters in the financial district of Toronto, Ontario, Canada, on Tuesday, Aug. 6. 2024.<\/span> <span class=\"credit\">Photo by Cole Burston\/Bloomberg<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Canadian investment strategists expect the country\u2019s main stock index to keep up its momentum next year, even with possible tariffs from Donald Trump\u2019s incoming administration hanging over the economy.<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Trump\u2019s threats have disrupted Canadian politics and led economists to worry about a recession. Yet the S&amp;P\/TSX Composite Index is higher today than it was on U.S. election day, and the benchmark has jumped about 18 per cent this year, its best showing since 2021.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment540734390322117296729871685255168\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div 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id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Rising corporate earnings and lower interest rates will help drive the equity benchmark toward a record 28,000 points in 2025, according to some market watchers, which would mean another year of double-digit returns in 2025.<\/p>\n<p>Among those making that call is Philip Petursson, chief investment strategist at IG Wealth Management, who said Canadian stocks have more reasonable valuations than U.S. equities, which gives them room to catch up.<\/p>\n<p>\u201cI think Canada has quite the edge over the S&amp;P 500,\u201d Petursson, who set his TSX target at 28,000 points, said. \u201cIf we are in an environment where U.S. inflation and interest rates are going to be a little bit higher, Canada looks quite attractive.\u201d<\/p>\n<p>The TSX got off to a slow start this year before gaining speed after the Bank of Canada began its rate-cutting cycle in June. The central bank has delivered five successive rate cuts, bringing the overnight rate down to 3.25 per cent. That\u2019s a full 125 basis points below the upper bound of the Federal Reserve\u2019s policy rate.<\/p>\n<p>Policymakers in Canada will keep cutting, bringing the overnight rate to 2.5 per cent by the middle of next year, according to economists surveyed by Bloomberg.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot16 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories5774418867077303305953603116597248\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 1600w\" alt=\"Top Stories\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.6.4\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment7879321984463858360145763142467584\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Easier central-bank policy helped give a tailwind to technology and financial shares, making them the best performers of the TSX\u2019s 11 major subgroups. Shopify Inc., the biggest tech heavyweight in Canada, is up 50 per cent. Gold rallied, as it sometimes does when borrowing costs decline, boosting precious metals companies.<\/p>\n<p><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"\" class=\"noscript-image\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/canadian-stocks-lift-off-in-back-half-of-2024-the-sp-tsx-co.jpg?ssl=1\"\/><\/p>\n<p>BMO Capital Markets strategist Brian Belski has a TSX target of 28,500 by the end of next year, and expects valuations to expand thanks to rate cuts and a rebound in flows into Canadian stocks.<\/p>\n<p>\u201cOverall, we believe that the Canadian recovery trade remains in its early stages,\u201d Belski told clients last month.<\/p>\n<p>Economists surveyed by Bloomberg are forecasting a pickup in growth next year to 1.8 per cent, from an expected rate of 1.2 per cent this year \u2014 though Trump\u2019s trade policy is a big source of uncertainty.<\/p>\n<p>The Canadian dollar has been weak \u2014 slower growth, lower rates and Trump are the key factors. But the TSX benefits \u201cquite strongly\u201d from that, Petursson said, because it has so many companies with a sizable percentage of U.S.-dollar earnings, which are worth more when converted back into loonies. For exporters, a lower Canadian dollar would be a partial offset to tariffs.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment8226102508273842729059963702870016\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">To be sure, the TSX is still exposed to exogenous shocks. If trade war breaks out with the U.S., it would damage a Canadian economy that\u2019s already close to stalling. Statistics Canada estimates that gross domestic product shrank by 0.1 per cent in November, contracting for the first time this year.<\/p>\n<p>\u201cA knock \u2019em down, drag them out, all-out trade war is kind of mutually assured destruction both for Canada and the U.S.,\u201d Brian Madden, chief investment officer at First Avenue Investment Counsel, said. \u201cThe U.S. is bigger than us, so they probably can make that bluff more credibly than we can, but nobody really wants that.\u201d<\/p>\n<p>Meanwhile, population growth is expected to slow as the government tightens the rules for immigration.<\/p>\n<p>\u201cLonger term, it may be positive for GDP-per-capita growth because our infrastructure \u2014 now we\u2019ve come to realize \u2014 couldn\u2019t support all this population immigration coming into the country,\u201d Christine Poole, chief executive officer at GlobeInvest Capital Management Inc., said in an interview. \u201cBut in the near term, it would probably have a negative impact on the economy because people coming into the country is a source of demand for goods and services.\u201d Sectors where earnings are tied to domestic population growth, such as telecom, may suffer.<\/p>\n<section aria-labelledby=\"moreTopicLabel6488493469635732892133931148640256\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" to=\"\" watch=\"\" for=\"\" in=\"\" canadian=\"\" business=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1216mgtrudeautrump.jpg?h=96&strip=all&quality=5&sig=4fx_qocgcIoMsxeKAYjjNw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1216mgtrudeautrump.jpg?h=96&strip=all&quality=5&sig=4fx_qocgcIoMsxeKAYjjNw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1216mgtrudeautrump.jpg?h=96&strip=all&quality=5&sig=4fx_qocgcIoMsxeKAYjjNw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1216mgtrudeautrump.jpg?h=96&strip=all&quality=5&sig=4fx_qocgcIoMsxeKAYjjNw&ssl=1&w=240&resize=240&ssl=1 240w, 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fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1216mgtrudeautrump.jpg?h=96&strip=all&quality=5&sig=4fx_qocgcIoMsxeKAYjjNw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1216mgtrudeautrump.jpg?h=96&strip=all&quality=80&sig=PqbbX3rmru4i8V0sKR_f2g, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1216mgtrudeautrump.jpg?h=192&strip=all&quality=80&sig=Br8kZ_U8WNLFdK2bYVMOww 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1216mgtrudeautrump.jpg?h=288&strip=all&quality=80&sig=5NNlyLjZL1l8YBSQs5EaJg 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">What to watch for in Canadian business in 2025<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" transition=\"\" drives=\"\" tsx=\"\" best=\"\" performers=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/9018-bc-transition.jpg?h=96&strip=all&quality=5&sig=1kYEPQ0fTY8qNj5Qi-g_Qg&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/9018-bc-transition.jpg?h=96&strip=all&quality=5&sig=1kYEPQ0fTY8qNj5Qi-g_Qg&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/9018-bc-transition.jpg?h=96&strip=all&quality=5&sig=1kYEPQ0fTY8qNj5Qi-g_Qg&ssl=1&w=150&resize=150&ssl=1 150w, 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data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/9018-bc-transition.jpg?h=96&strip=all&quality=80&sig=C3bwlFvX58G9RmYKmVad-Q\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/9018-bc-transition.jpg?h=96&strip=all&quality=5&sig=1kYEPQ0fTY8qNj5Qi-g_Qg&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/9018-bc-transition.jpg?h=96&strip=all&quality=80&sig=C3bwlFvX58G9RmYKmVad-Q, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/9018-bc-transition.jpg?h=192&strip=all&quality=80&sig=9FpLBezBNb1kUHd3Gqz11w 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/9018-bc-transition.jpg?h=288&strip=all&quality=80&sig=QpnZsCK5b59wsG8pooVuGQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Energy transition drives TSX best performers<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Not everyone is bullish on the broader index. Colin Cieszynski, chief market strategist at SIA Wealth Management, called tariffs a big risk to the market outlook. He said the TSX is more likely to produce small gains, reaching around 26,000 points by the end of the upcoming year.<\/p>\n<p data-async=\"\">Bloomberg.com<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Strategists predict the TSX will hit 28,000 next year<\/a><br \/>\n<br \/>2024-12-27 17:19:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Rising corporate earnings and lower interest rates will help drive the equity benchmark Author of the article: Bloomberg News Stephanie Hughes Published Dec 27, 2024&#8230;<\/p>\n","protected":false},"author":2,"featured_media":54451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/secure.gravatar.com\/avatar\/2c61c569c35df1bfebdf8601ae03b90f?s=70&d=mp","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-54450","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/54450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=54450"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/54450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/54451"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=54450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=54450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=54450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}