TSX records biggest annual gain since 2021
Live Mint* TSX gains 18.5% in 2024 * Records best year since 2021 By Nivedita Balu Dec 31 - Canada's main stock index recorded its best year since 2021 on Tuesday, the last trading day of the year historically considered as favorable for equities, navigating a number of macroeconomic and global uncertainties in 2024. In the United States, the bellwether S&P 500 notched more than a 23% gain, marking the index's best two-year run since 1997-1998, while the Nasdaq surged nearly 30%. Looking ahead to 2025, market participants have scaled back their expectations for significant rate cuts by the Fed in 2025 and are preparing for potential policy shifts with Donald Trump's return to the White House. The TSX index, however, fell 3.4% in December, its first in six months and its worst since May 2023, as the U.S. Federal Reserve's hawkish policy announcement and domestic political uncertainty made investors cautious.