USA & CANADA DAILY PULSE REPORT, JANUARY 2, 2026

INSTAT Signal: The Great Rotation is On – Dow & TSX Lead, NASDAQ Lags as Capital Flows to Quality and Commodities. However, the INSTAT scores are not as strong as Asia and Europe’s.

Executive Summary: North American Equities at Year-Start 2026 – A Rotation Toward Quality and Resources.

Key Takeaways:

• Broad Sentiment: Neutral-to-Bullish with clear rotational dynamics. Leadership is concentrated in high-quality, cyclical large-cap stocks, particularly in the Dow Jones Industrials (Strongly Bullish) and S&P/TSX Composite (Strongly Bull…