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

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Midday Edition. Wednesday, April 8, 2026

Market context for passive investors.

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$41.58
+2.43%

Headline

Iran ceasefire lifts global equities; XEQT gains 2.43% at midday

A U.S.-Iran ceasefire agreement announced by President Trump lifted global equities broadly on Wednesday, with the Dow surging roughly 1,200 points, European shares posting their largest daily gain in a year, and emerging-market stocks heading for their best session since 2022. The deal, which includes a two-week pause in U.S. attacks and Iran's agreement to reopen the Strait of Hormuz, sent oil prices sharply lower and pushed risk assets higher across every sleeve of XEQT. As of midday, XEQT is up 2.43%, with international developed markets and emerging markets contributing the most in absolute terms.

The Regions

  • Canada

    26.34% of XEQT

    • XIC.TO
    +1.13% +0.30 pts to XEQT

    XIC.TO gained 1.13% so far today, a positive session but one that lagged global peers, likely reflecting the offsetting effect of oil's sharp intraday decline on the TSX's large energy sector, even as broader risk sentiment improved; no fresh session-specific Canadian market reporting was available at report time.

    Canada market region icon

  • United States

    43.24% of XEQT

    • XTOT.TO
    • ITOT
    +2.19% +0.95 pts to XEQT

    U.S. equities rose sharply in morning trading after President Trump announced a two-week suspension of attacks on Iran, with the S&P 500 up approximately 2.4% and the Dow gaining around 1,200 points as oil prices dropped more than 17% and risk appetite returned across sectors, with travel and airline stocks among the standout movers.

    United States market region icon

  • Intl Developed

    25.16% of XEQT

    • XEF.TO
    +3.60% +0.91 pts to XEQT

    European markets drove the international developed sleeve higher, with the Stoxx 600 up roughly 4% as of midday in London, its largest intraday gain since April 2025, led by travel stocks including EasyJet and TUI which each gained more than 10% as oil prices fell sharply following the U.S.-Iran ceasefire announcement.

    Intl Developed market region icon

  • Emerging Mrkts

    5.13% of XEQT

    • XEC.TO
    +5.17% +0.27 pts to XEQT

    Emerging market equities rose as much as 5.3% on Wednesday, heading for their best session since 2022, with oil-importing nations South Korea and Taiwan leading gains as lower energy prices and reduced geopolitical risk lifted both stocks and currencies across the developing world.

    Emerging Markets market region icon

The Hold Line

XEQT is up 2.43% in today's session, with every sleeve contributing positively. A two-week ceasefire between the U.S. and Iran is not a permanent resolution, but it has meaningfully reduced near-term risk across global markets. Long-term investors need not act on a single day's relief; XEQT's broad diversification means today's gains are spread across the entire world economy, exactly as intended.

Signals

  • 01

    Oil prices drop sharply on ceasefire

    WTI crude fell more than 17% intraday to around $93 a barrel after Iran agreed to reopen the Strait of Hormuz as part of the ceasefire terms; lower oil is a tailwind for energy-importing economies that make up much of XEQT's international and emerging market exposure, though the energy sector within XIC.TO faces near-term earnings pressure. No action required.

  • 02

    Global bond yields fall sharply

    Benchmark UK gilt yields fell 22 basis points and bond markets rallied broadly as geopolitical risk eased; lower yields can support equity valuations over time, which is broadly constructive for XEQT holders. No action required.

  • 03

    Ceasefire described as fragile

    Vice President Vance described the Iran truce as 'fragile' on Wednesday, noting divisions within Iran's leadership over the agreement; the two-week window leaves uncertainty about whether a lasting deal will follow, and a breakdown could reverse some of today's gains. XEQT's diversification across geographies and sectors is precisely the structure suited to absorbing this kind of uncertainty. No action required.

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