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Making sense of the markets this week: November 17, 2024Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.

The Trump effect

A few things have changed in the world since the last time I wrote a Making Sense of the Markets column a couple of weeks ago. Republican control of all three levels of the American federal government (assuming current vote-counting patterns hold) have sent stocks soaring. This week, the S&P 500 zoomed past 6,000 for the first time, the Dow Jones Industrial Average hit 44,000, and even our very own TSX hit an all-time high of 25,000. It turns out that investors really like the idea of uncontested elections, a lack of insurrections at the White House, and the promise of massive tax reductions.

There are many theories about how president-elect Donald J. Trump’s policy promises will affect the markets around the world. With the massive caveat that many of these campaign promises are unlikely to be fully realized, here’s a brief look at the more prominent market news stories to come out of the election:

With Trump as president, Bitcoin could continue to go through the roof due to manic trading behaviour…

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The best gas credit cards in Canada for 2024We break down the top credit cards in the country that’ll help you save at the pump—with either cash back or rewards points.

Top 3 gas credit cards

featured

Best for cash back

CIBC Dividend Visa Infinite Card

Earn 4% cash back on gas and EV charging.

GO TO SITE

Annual Fee:
$120

Interest Rates:
$20…

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