Q2 2025 began turbulently with equity markets plunging after the US announced sweeping global tariffs on April 2. This, coupled with a brief but intense Israel-Iran conflict which saw the USA bomb Iran’s nuclear sites, drove market volatility to extreme levels. Gold reached record highs in June while oil prices, after a brief spike, finished the quarter below their starting point. Despite these challenges, markets staged a remarkable recovery, with major indexes reaching record highs by quarter-end, buoyed by resilient corporate earnings and improved US-China trade relations.
SECOND QUARTER HIGHLIGHTS
- • S&P/TSX Composite hits a new all-time high of 26,857.10 on June 30th
- • S&P 500 hits a new all-time high of 6,173.12 on June 30th
- • Canadian dollar strengthened to a 9-month high $0.7385 on June 16th
- • WTI Oil was range bound end the quarter at $67.61 USD per barrel
- • Bank of Canada maintained overnight rate at 2.75%
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