A Little Less Tension on the Trade Front
Global trade tensions eased a bit this week after US President Trump and China’s President Xi Jinping met face-to-face in Busan ahead of the Asia-Pacific Economic Cooperation (APEC) summit. Trump did not attend the full leaders’ summit, but the bilateral meeting between the two leaders was the main focus for markets anyway. Going in, Trump described it as a “G2” meeting – a nod to the reality that these are the world’s two largest economies and when they talk, everyone else feels the impact.
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Weekly Update for the week ending October 24, 2025
Rare Earths: Tiny Metals, Massive Impact, Major Contention
Last week [link to oct 17], we talked about trade tensions between China and the US – the world’s two largest economies. One key flashpoint in those talks is rare earth elements. Rare earths might sound like something from a sci-fi movie, but they’re actually critical to everything from your smartphone to fighter jets – and they’re at the centre of the China- US trade debate.
Weekly Update for the week ending October 17, 2025
Trade Tensions Flare, Again
Since President Trump returned to office in January, his administration has been trying to reshape global trade in America’s favour. One of his earliest targets was China, the world’s second largest economy, trailing only the US. Since both sides have recently began ratcheting up the trade tension again, with new tariffs, export controls, and tit-for-tat sanctions making headlines, I thought it would be a good time to review the situation and what it could mean for investors everywhere – including here in Canada.
Monthly Portfolio Update September 2025
September flipped the script on its usual reputation as a tough month for stocks. North American markets finished strong, capping a solid third quarter and extending impressive streaks of gains. The Toronto Stock Exchange Composite Index surged 5.1%, while the S&P 500 climbed 3.5%, the Dow Jones Industrial Average added 1.9%, and the Nasdaq Composite jumped 5.6%. Record highs were the theme of the month: the Nasdaq and S&P hit multiple peaks, delivering their best September since 2010 and strongest third quarter since 2020, while the Dow notched its fifth straight monthly gain. Up north, the TSX also marked its fifth consecutive monthly advance.
Let’s take a quick look at what moved the markets and how my three portfolios performed in September…
Monthly Portfolio Update August 2025
August is usually a sleepy month for markets, with many professional investors off on holiday and trading volumes thin. But this year, the supposedly quiet stretch turned into another winning month. All four major indexes extended their streaks, with the Nasdaq Composite Index (Nasdaq) chalking up its fifth consecutive monthly gain – up 1.6%, its longest run in nearly a year and a half. The S&P 500 (S&P) added 1.9%, the Dow Jones Industrial Average (DJIA) climbed 3.2%, and the Toronto Stock Exchange Composite Index (TSX) led the pack with a surge of 4.8%, its strongest showing of the summer. For the S&P and DJIA, it marked their longest streak since fall 2024.
The rally was less about confiden
Weekly Update for the week ending September 5, 2025
September Slump: Will This Year Be Different?
September has a bit of a bad reputation on Wall Street. Historically, it’s the weakest month for stocks – a pattern often called the “September Effect.” Unlike other market drops tied to clear events, this is more of a seasonal trend. Some say investors pull back after the summer rally to lock in profits. Others point to mutual funds and big institutions rebalancing portfolios ahead of year-end, which adds selling pressure. Add in traders returning from summer holidays with a cautious outlook, and September has often leaned negative.
History has delivered some painful reminders. In 2008, during the financial crisis, the S&P 500 plunged nearly 9% in a single September. In 2001, the 9/11 attacks triggered a steep selloff. More recently, in 2022, the index slid almost 10% as rising interest rates rattled investors.
So, what could make this September another challenging month?