Article source: ConstructConnect
The three main U.S. stock market indices turned positive again during March, after dipping and diving through January and February.
The DJI from beginning to end of March was +2.3% after being -3.5% in February and -3.3% in January.
The S&P 500 was +3.6% in March after being -3.1% in February and -5.2% in January.
NASDAQ was +3.4% in the latest month after being -3.4% in February and -9.0% in January. (It should be noted that NASDAQ was in ‘bear’ territory not so long ago. From November 22, 2021, to March 14, 2022, NASDAQ’s high-to-low index level descent was -22.6%.)
Toronto’s stock exchange has performed better than the American indices, +3.6% in March, after being flat in February, at +0.1%, and down only a little in January, -0.6%. The TSE, or TSX as it is alternatively known, is heavily weighted with resource sector firms. Most commodity prices were firming up before Russia’s invasion of Ukraine, and the new geopolitical uncertainty has magnified the tendency for investors to want to hold physical assets, such as gold.
By the way, surges in commodity prices have historically been positive for the development and construction of mega-sized resource projects.
