The last thing you want is another year of volatility, challenges and mediocre industry performance.
Luckily, according to the IIAC’s 2016 CEO survey, there may be better times ahead. The survey, which was conducted in November, polled 132 investment dealer member firms, and those execs were positive about market performance in the near term.
In a speech given at Empire Club of Canada’s annual outlook event, the IIAC’s Ian Russell said, “By early December, the U.S. stock market indices had moved to record levels and the TSX was approaching an all-time high.”
But, he concedes, “stock market performance, of course, is no guarantee of reality.” However, he adds, there’s “reasonable expectation that economic momentum will strengthen” in the U.S. due to tax cuts, infrastructure spending and regulation.
Overall, Russell says the CEO survey reveals respondents are more optimistic about economic drivers and less worried about external, global shocks. That said, industry changes remain a frontline concern: CEOs expect their revenues to rise faster in 2017, but are watching for more regulatory pressure, increased competition from technology disruptors like robos, and demographics challenges.
Joining Russell as speakers at today’s event were David Rosenberg, chief economist and strategist at Gluskin Sheff + Associates in Toronto, and Jonathan Lewis, chief investment officer at Fiera Capital in New York. Both focused on the U.S. market and offered investment tips.