As you are aware (if you opened your March 31st statements – I know some of you didn’t bother), we had poor performing markets in February and March this year. Markets dropped quickly due to two factors: COVID 19 and Oil Prices. The markets reacted negatively, as the markets do not like uncertainty. COVID especially presented a considerable amount of uncertainty. At that time, it was not clear how COVID would impact world economies.
Since March 23rd the US and Canadian Markets are up significantly.
Global stocks continue to head higher, on optimism about the reopening of economies.
The Canadian market is up 36% since its floor March 23rd. The US market is up 37% since its floor of March 23rd.
Both markets continue to trend in a positive direction. Last week, the US market was up about 3.2%, and the Canadian market increased almost 2 percent, and they seem to be headed higher again this week.