Canadians not feeling ‘wealth effect’ as stock market nears high – Yahoo Finance

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Stock market gains usually add to financial security and boost people’s spending. But economists expect the “wealth effect” to disappoint as Canadians grapple with a sluggish domestic economy and uncertainty over the implications of Donald Trump’s election as U.S. president. A rising domestic stock market will barely lift the confidence of ordinary Canadians, who are more concerned about job prospects in an economy threatened by a more protectionist United States, economists say.

Key Takeaways:

  • A rising domestic stock market will barely lift the confidence of ordinary Canadians, who are more concerned about job prospects in an economy threatened by a more protectionist United States, economists say.
  • Stock market gains usually add to financial security and boost people’s spending. But economists expect the “wealth effect” to disappoint as Canadians grapple with a sluggish domestic economy and uncertainty over the implications of Donald Trump’s election as U.S. president.
  • Canadian consumer confidence fell in January to its lowest since October, a survey conducted by the Conference Board of Canada showed recently.

“Stock market gains usually add to financial security and boost people’s spending. But economists expect the “wealth effect” to disappoint as Canadians grapple with a sluggish domestic economy and uncertainty over the implications of Donald Trump’s election as U.S. president.”

http://finance.yahoo.com/news/canadians-not-feeling-wealth-effect-180146976.html

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