Monthly market snapshot

Monthly Overview. Equity markets remained volatile in July as investors weighed concerns around AI-related spending, higher oil prices, and ongoing geopolitical tensions in the Middle East. Rising oil prices supported energy stocks and improved sentiment toward Canadian resource companies, particularly after the U.S. exempted energy and critical minerals from its proposed tariffs on Canadian imports.

Monthly Overview. In June, worldwide enthusiasm about artificial intelligence (AI) remained strong, leading to broader participation across global equity markets. Canadian equities posted modest gains during the month, although returns varied significantly by sector. In the U.S., market participation widened as small-cap and equal-weight equity benchmarks outperformed their largecap counterparts, with investors rotating away from AI hyperscalers and toward more defensive sectors and small-cap equities.

Monthly Overview. Overall, Canadian and U.S. equities were strong in May, helped by solid corporate earnings and improved investor sentiment as geopolitical tensions began to ease. First-quarter earnings came in well above expectations, helping to reinforce confidence in future growth. This strength was driven by continued investment in artificial intelligence and digital infrastructure, which remain key themes across the information technology and communication services sectors.

Monthly Overview.  April marked a sharp reversal from March’s risk-off environment, with equity markets posting a strong rebound despite a challenging geopolitical and macroeconomic backdrop. Oil prices remained volatile amid ongoing Middle East uncertainty, but did not derail the market rally.