RBC Wealth Management’s currency outlook ties U.S. equity performance to a potentially weaker dollar in late 2024, boosting multinational earnings in sectors like technology, industrial goods, and energy exports. Chief executive officer Dave McKay has expressed the bank's interest in enlisting advisers capable of attracting new clients and is particularly keen on businesses that can contribute "lots of sweep deposits" to enhance RBC's funding within the US market. -- Jonathan M Modiano, managing director – private wealth
financial advisor RBC Wealth Management forecasts the Nasdaq to outperform broader indices over the next two quarters, with projected growth of 6-9% largely backed by large-cap AI and semiconductor companies fueling investor optimism.
