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TSX forecasts reduced as downside risks lurk

News Snapshot:

Canada’s commodity-linked main stock index is expected to rise less than previously expected over coming months and could see a correction as investors grapple with a slowdown in China and higher borrowing costs, a Reuters poll found. The median prediction of 24 portfolio managers and strategists in the August 9-21 poll was for the S&P/TSX Composite Index to advance 3.5% to 20,479 by year-end, compared with 21,000 expected in a previous poll in May. It was then expected to climb to 21,800 by end-2024, stopping short of the record closing high it set in March last year of 22,087.22. “Our…

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