The survey shows a split in investor opinion on whether the US and Canadian economies can avoid a recession over the next six months. According to the findings, 53 percent of respondents believe the US economy will avoid a downturn, while only 49 percent think Canada can do the same.
Additionally, 47 percent of participants expect a recession in the US, and 51 percent foresee one in Canada. When it comes to stock market sentiment for the remainder of 2024, 35 percent of investors are bullish, while 47 percent maintain a neutral stance.
The data also indicates that 71 percent of those surveyed are buying more US stocks than Canadian ones, reflecting a strong preference for the US market.
Meanwhile, 63 percent express some confidence in meeting their investment goals, with retirement being the primary objective for 40 percent, followed by general savings.
Justin Zacks, vice president of Strategy at Moomoo Technologies Inc., commented on the survey’s timing, noting that “at the time the survey closed on August 21, the S&P/TSX Composite Index had risen over 10 percent since the start of the year, while the S&P 500 Index was up more than 17 percent, led by the technology sector.”