Portfolio Stewards says S&P/TSX, S&P 500 gain over 10% YTD through June 30 amid AI spending boom
SPY•Outlook and investment stance
The outlook calls for modest growth, with trade policy shifts, tariffs, geopolitics, and energy markets seen as key volatility catalysts.
Portfolio Stewards emphasized maintaining a long-term investment stance and said timing markets around headlines is a poor decision framework.
Markets up more than 10% year to date
Portfolio Stewards said the S&P/TSX Composite Index and S&P 500 Index were each up more than 10% year to date as of June 30, despite Middle East conflict-driven energy supply concerns and lingering geopolitical risk.
Strong corporate earnings supported risk assets, while large technology and cloud firms reiterated heavy AI data-center infrastructure spending plans.
