I would expect them to be relatively muted so ... Canadian equities, domestic equities, still underperform international markets." This saw the more defensive U.S. equity markets, which are heavily weighted towards technological growth, thrive last year. Meanwhile, the cyclically-based Canadian equity markets made up primarily of financial, energy and materials sectors were largely underappreciated. "The TSX has benefited in recent months because of the strong rally in oil prices. ... To the extent that higher oil prices since September have supported gains in the TSX, a risk factor in 2018 is that oil prices could run into resistance if U.S. shale producers increase production at today's higher price levels."

Source: CBC News January 01, 2018 17:37 UTC