“Pause and remember – slow and steady will get you where you want to go. If you put too much pressure on yourself for results too quickly, you will quickly give up” – Jennifer Young

 North American Markets Continue to Rebound

We are now seven weeks into 2019. Canadian markets, notably the Toronto S&P/TSX Composite, and US markets, notably the Dow Jones Industrial Average, NASDAQ and S&P 500, have all put together strong rallies to begin the calendar year.

In 2019 alone, the TSX is up about 1,500 points, or about 10 percent. In 34 trading sessions thus far in 2019, Canada’s main index has closed higher 25 times. TSX valuations are also promising, with the average price-to-earnings (P/E) ratio sitting around 14 times earnings, versus the five-year historical average of 17 times earnings.

Earnings reports have helped drive equity markets higher, with 70% of Canadian companies to report so far boasting better-than-expected earnings. In the US, 66% of S&P 500 companies to report have reported better-than-expected earnings.

The market rebound is certainly welcome after a difficult 2018.

RRSP Deadline is March 1, 2019

We are now exactly two weeks away from the 2018 RRSP Deadline. As we approach the March 1st deadline, we encourage you to contact us with any questions about your RRSP. We can work with you to determine your estimated tax saving on a last-minute contribution.

Contact our office if you have any questions about your portfolio, or to contribute to your RRSP prior to the deadline.

Sources: The Globe and Mail

This information is provided for general information purposes only. It does not constitute professional advice. Please contact a professional about your specific needs before taking any action.