Global equities climbed led by growth stocks as stronger economic data outweighed concerns over rising bond yields and inflation. Market sentiment received a further boost from U.S. President Biden's new fiscal proposal. Energy prices climbed while gold prices declined.
The S&P/TSX Composite Index strengthened led by strong gains in technology. Staples, materials, and industrials also advanced. Canadian Real GDP gained 0.7% in January marking nine consecutive monthly gains and preliminary data points to another 0.5% increase for February.
The S&P 500 Index (C$) advanced led by communications, discretionary, and technology. Staples, health-care, and commodity sectors declined. U.S. consumer confidence jumped in March, but remains well below pre-pandemic levels, while U.S. manufacturing activity expanded at the fastest rate since 1983.
The MSCI EAFE Index (C$) edged higher amid gains in technology, discretionary, and industrials. Energy, financials, and health care declined. Regionally, European equities outperformed buoyed by stronger employment and manufacturing data in Germany.
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