Canada's main stock index climbed on Monday, driven by gains in sectors like mining and energy, while the US market also saw upward momentum. Despite light pre-Christmas trading, experts advise close monitoring due to shifting macroeconomic factors and political conversations in both Canada and the US. Burkett Asset Management's Kevin Burkett highlights potential implications from fiscal policy shifts, noting a disconnect between fiscal and monetary policies post-pandemic. The telecom sector saw significant losses attributed to tax-loss selling at year-end. Rogers Communications faced a lawsuit from the Competition Bureau Canada for alleged misleading claims about its wireless plans, further impacting its stock price.
TORONTO — Canada 's main stock index pushed higher to end Monday up almost 150 points on light trading action, while U.S. stock market s also gained ahead of the Christmas break.
"We're continuing to watch markets very closely here because you've got some tectonic plate shifting in terms of the macroeconomic backdrop," he said."It's all the political conversations both in Canada and in the U.S." Competition Bureau Canada announced on Monday it was suing Rogers Communications Inc. for allegedly making misleading claims about its infinite wireless plans.
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