The market is still recovering from the October shock, and stocks have rallied again after a six-week slide.
The market index of the S&P 500 has recovered the most since early October, with its benchmark index up more than 3 per cent since then.
In a statement, the Conference Board of Canada said the recovery is a “long-term, steady process.”
“The rebound in the S & P 500, however, remains somewhat weak.
The recovery in the Canadian stock market remains quite modest.
The Canadian economy has been doing well, the job market remains robust and the unemployment rate remains low,” the statement read.
The stock market index closed down nearly 5 per cent on Tuesday as investors rushed to buy and sell stock.
It is down about 6 per cent this year, though it is still above its pre-recession peak of 9 per cent.
On Wednesday, the S.& ;P 500 finished the day at a record high.
It had closed above that mark in a number of recent trading sessions.
A strong performance in the stock market has come as the world economy continues to slow, and the United States is experiencing its own economic slowdown.
“The stock markets continue to rally and have continued to climb as they continue to strengthen,” said David Kocieniewski, an economist with CIBC World Markets.
“It’s certainly not good news for the U.S. economy.”
Canada has seen an overall rebound in GDP and unemployment, with the unemployment-to-population ratio dropping to 3.1 per cent from 3.5 per cent before the crash.
The economy is growing again, but the jobless rate is still around 10 per cent, according to Statistics Canada.
The government says the rate is now 4.1 percentage points higher than it was at the end of November.