The Globe and Mail reports in its Wednesday edition that Canada's main stock index is set to edge higher in 2025, helped by lower borrowing costs as well as a cheaper valuation than the U.S. market, but returns could slow after investors potentially front-loaded much of the positive news. A Reuters dispatch to The Globe says that clouding the outlook, forecasts were collected before U.S. president-elect Donald Trump vowed to impose a 25-per-cent tariff on imports from Canada. The median prediction of 21 portfolio managers and strategists in the Reuters poll conducted from Nov. 15 to Nov. 25 was for the S&P/TSX Composite Index to rise 4.5 per cent to 26,550 next year, far eclipsing the 24,350 level expected in an August poll. The index was then expected to reach 27,500 by mid-2026, a gain of 8.2 per cent from Monday's close of 25,410. "The positive market momentum heading into 2025 is underpinned by a resilient consumer, rising corporate profits and a global rate-cutting cycle, conditions that will likely persist in the quarters ahead," said Angelo Kourkafas, strategist at Edward Jones. The Bank of Canada has cut its benchmark interest rate by 125 basis points since the start of an easing campaign in June.