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…
Last Month in the Markets: June 2025 What happened in the first half of 2025 The turmoil and steep decline in April caused by Trump’s global trade war now feels like a distant memory following a solid recovery. Overall, the TSX is leading North American equity indexes, with a gain of over 8.5% so far…
Last Month in the Markets: May 2025 What happened in May? The month began positively, and somewhat quietly. Entering the month, Canada was performing relatively well as the new government was preparing for the upcoming legislative session. In the days leading up to mid-May, news broke that the U.S. and China had swiftly reached a…
Last Month in the Markets: April 2025 What happened in April? The difficult month for equities began with the announcement of tariffs by Donald Trump on April 2nd. Economic theory and history, should the tariff scheme be implemented as proposed, predicts that the U.S., Canadian and the global economy will likely fall into recession. The…
Last Month in the Markets: March 2025 What happened in March? Equities experienced a very difficult month with the Dow losing 4.2%, the S&P 500 dropped 5.8%, and the NASDAQ plummeted 8.2%. Canada’s TSX fell by only 1.9%, making it the top performer among major indexes. A 1.9% drop typically is not regarded as a…
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