This is the close brief for Wed, Apr 8, 2026. View latest

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Close Edition. Wednesday, April 8, 2026

Market context for passive investors.

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$41.55
+2.37%

Headline

US-Iran ceasefire drives broad global equity rally at Wednesday's close

A surprise two-week ceasefire between the United States and Iran sent a wave of optimism through global financial markets on Wednesday, lifting equities from Tokyo to Toronto and pushing XEQT up 2.37% by the close. The S&P 500 gained 2.5%, the Stoxx 600 rose 3.7%, and emerging markets led all sleeves with a 5.25% advance, as oil settled below $95 and investors revised rate-cut expectations upward. All four XEQT sleeves finished in positive territory, with international developed markets and the U.S. contributing the most to the day's gain.

The Regions

  • Canada

    26.34% of XEQT

    • XIC.TO
    +1.24% +0.33 pts to XEQT

    The TSX gained 1.24% as the US-Iran ceasefire lifted broader sentiment, though the energy sector faced a mixed session with oil settling below $95, partially offsetting gains in metals and other growth-oriented areas.

    Canada market region icon

  • United States

    43.24% of XEQT

    • XTOT.TO
    • ITOT
    +2.28% +0.98 pts to XEQT

    U.S. equities rose 2.28% as the ceasefire agreement between the U.S. and Iran eased energy crisis fears, with the S&P 500 climbing 2.5%, the Nasdaq gaining 2.8%, and the Dow surging over 1,300 points, while lower oil prices revived expectations for Federal Reserve rate cuts in 2026.

    United States market region icon

  • Intl Developed

    25.16% of XEQT

    • XEF.TO
    +3.48% +0.88 pts to XEQT

    International developed markets led XEQT's session in absolute terms, rising 3.48%, as Europe's Stoxx 600 closed 3.7% higher, Germany's DAX climbed as much as 4.9%, and the FTSE 100 gained nearly 3%, with travel stocks among the session's strongest performers following news of free tanker passage through the Strait of Hormuz.

    Intl Developed market region icon

  • Emerging Mrkts

    5.13% of XEQT

    • XEC.TO
    +5.25% +0.27 pts to XEQT

    XEC.TO gained 5.25% on the day, the strongest performance across all XEQT sleeves. Specific drivers were not identified in available sources, though the broad relief rally tied to the US-Iran ceasefire likely added to the move.

    Emerging Markets market region icon

The Hold Line

XEQT gained 2.37% on Wednesday, with all four sleeves finishing in positive territory. Markets moved decisively on a single catalyst, and XEQT holders benefited from the breadth of that move across 43 countries. Days like this are the return on staying the course.

Signals

  • 01

    Oil falls on ceasefire news

    Oil settling below $95 eased fears of an energy-driven inflation spike and revived investor bets on Federal Reserve rate cuts in 2026. Lower energy costs, if sustained, would be a broadly constructive backdrop for equities. No action required for XEQT holders.

  • 02

    US-Iran ceasefire, two-week window

    The two-week US-Iran ceasefire, which includes free tanker traffic through the Strait of Hormuz, removed a significant geopolitical risk premium from global markets for now. The deal is temporary and subject to extension, so this signal bears watching but warrants no portfolio change today.

  • 03

    CAD/USD steady at 0.7223

    The CAD/USD rate sits at 0.7223, meaning Canadian holders of XEQT benefit when foreign-denominated assets rise and the loonie is relatively softer. Today's global rally amplified those gains modestly in CAD terms. No action required.

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