AI Investing Craze Bypasses Canadian Stock Indexes, for Now

 Here's a quote from the source site...

  • Toronto Composite Index has underperformed tech-heavy S&P 500
  • Tech companies account for just 7.7% of the S&P/TSX Composite

The craze in artificial intelligence investing has bypassed Canadian equities markets and left its key index to chase higher-flying stocks in New York. Strategists in both countries think that will reverse in the second half of 2023.

The S&P/TSX Composite Index has eked out a 2.2% gain so far this year, directly in line with the Dow Jones Industrial Average. But it has vastly underperformed the S&P 500, which is up 15%, thanks to a surge in its biggest market sector — information technology — that’s been fueled by an AI investing bonanza.

For more information, go to https://www.bloomberg.com/news/articles/2023-07-10/ai-investing-craze-bypasses-canadian-stock-indexes-for-now#xj4y7vzkg

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