USA may be place to invest suggests survey

Published:  27 Jun at 3 PM

According to a recent survey, advisers have expressed more optimism about stock markets in the US than in Canada , while showing and more concerned over a major downturn in the Chinese market than in the eurozone.

The insurer and wealth management firm, which is based in Toronto, found that 78% of nearly 500 advisers surveyed expressed optimism over US markets, including the S&P 500 index and the Dow Jones industrial average. However, only 60% expressed optimism about Canada's S&P/TSX composite index.

While the Canadian economy seems a bit stagnant, advisers see more financial opportunities in the United Staes, where there seems to be a slow recovery taking place, says Sadiq Adatia, who is chief investment officer with Sun Life Global Investments (TSX:SLF).

The US and Canada are travelling in two different directions, with the US showing signs of optimism, despite not being overwhelmingly strong, said Adatia.

The American economy seems to have improved, with recent figures indicating a drop in unemployment levels, more confidence in the national economy, consumers reducing their debt loads and a housing market is coming out of despair, added Adatia.