Marvin: stock highs a sign of confidence
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The latest numbers are in for the Canadian economy.
With stock values hitting record highs some observers were surprised to see growth in April of only 0.1 per cent. Marvin Ryder from the DeGroote School of Business stopped by with his take on the numbers and the volatility of the market.
“The stock market represents the feeling today. Not in April, not in March, the way it is today. And absolutely there’s been a lovely chain of events. We’ve had a number of large corporations back to back to back to back report record profits that’s driving the market.”
“There’s also this feeling of buoyancy on the market. But I want to caution people that the market can turn on a dime, and you just covered these stories in your newscast, what’s going on in Iraq and Syria, What’s going on in the Ukraine with Russia. If something blows up, if war is declared then these things would change again.”
After six years the TSX is back to where it was sitting before the recession of 2008.
