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Last Month in the Markets: December 2025 Last Year in the Markets: January 1st – December 31st, 2025 What happened in 2025?  Last year was again productive for equity investors, with Canadian and U.S. indexes delivering strong returns for the third consecutive year. However, the year was not smooth throughout. The first quarter struggled until President…

Last Month in the Markets: November 3rd – 28th, 2025  What happened in November? The final—and Thanksgiving-shortened—week of the month salvaged what had otherwise been a disappointing stretch for North American equity markets. The S&P 500 and Dow posted small but positive gains after rising more than 3% during the last week of November. The…

Last Month in the Markets: October 1st – 31st, 2025  What happened in October? North American equity investors experienced strong performance in October, particularly those focused on U.S. indexes. While the TSX rose nearly one percent, American indexes advanced substantially more, with the NASDAQ gaining almost five percent. This performance occurred alongside heightened uncertainty and…

Last Month in the Markets: September 2nd – 30th, 2025  Last Quarter in the Markets: July 1st – September 30th, 2025  What Happened in Q3 and September? Equity investors enjoyed strong performance over the past three months, including September. From an economic perspective, the month was relatively calm. Most conditions remained steady: employment stayed soft,…

Last Month in the Markets: August 2025  What Happened in August? The TSX was the standout performer among North American equity indexes last month, rising nearly 5% above its July close. Not only did it outperform the S&P 500, Dow, and NASDAQ in August, but it also leads all of them in year-to-date and one-year…

Last Month in the Markets: July 1st – 31st, 2025 What happened in July? Equity indexes had a strong month. New all-time highs were achieved several times by the TSX, S&P 500, and NASDAQ, while the Dow came close. President Trump’s global trade war has yet to show widespread economic consequences. For now, tariffs either haven’t…