This is the close brief for Mon, Apr 13, 2026. View latest

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Close Edition. Monday, April 13, 2026

Market context for passive investors.

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$41.90
+0.46%

Headline

S&P 500 erases Iran war losses as deal hopes lift all XEQT sleeves

The S&P 500 climbed 1.02% to close at 6,886.24, erasing all of its losses since the start of the Iran war, as President Trump signalled that Iran still wanted to reach a deal despite a breakdown in peace talks and a U.S. blockade of the Strait of Hormuz. Software stocks led the Nasdaq up 1.23%, with Q1 earnings season also beginning to provide a positive backdrop. That U.S. recovery was the dominant force in XEQT's 0.46% advance on Monday, with Canada adding further support and international developed markets providing only a modest lift as European equities closed lower earlier in the day.

The Regions

  • Canada

    26.05% of XEQT

    • XIC.TO
    +0.54% +0.14 pts to XEQT

    XIC.TO rose 0.54%, tracking the broader North American recovery tied to easing Iran war fears, though the session had pockets of weakness including Cogeco Communications falling nearly 8% after reporting weaker quarterly results and cutting its full-year outlook.

    Canada market region icon

  • United States

    43.22% of XEQT

    • XTOT.TO
    • ITOT
    +0.72% +0.31 pts to XEQT

    The U.S. sleeve gained 0.72%, its strongest day in recent weeks, as the S&P 500 rose 1.02% to its highest close since before the Iran conflict began, lifted by Trump's signal that Iran still wanted a deal and a software-led Nasdaq rally of 1.23%.

    United States market region icon

  • Intl Developed

    25.40% of XEQT

    • XEF.TO
    +0.14% +0.04 pts to XEQT

    XEF.TO edged up just 0.14%, held back by European markets that closed lower on the day as a breakdown in U.S.-Iran peace talks rattled travel and energy-sensitive sectors, with airlines including Wizz Air and Lufthansa among the hardest hit before U.S. markets recovered.

    Intl Developed market region icon

  • Emerging Mrkts

    5.27% of XEQT

    • XEC.TO
    +0.57% +0.03 pts to XEQT

    XEC.TO gained 0.57% on the day. Specific drivers for emerging market equities were not identified in available sources for this session.

    Emerging Markets market region icon

The Hold Line

XEQT gained 0.46% on Monday, closing at $41.90 as the U.S. sleeve delivered the strongest contribution of the day. All four sleeves finished in positive territory, a clean result given the geopolitical noise surrounding Iran. Diversification worked as intended, and there is nothing here that calls for a change in course.

Signals

  • 01

    S&P 500 back in green for 2026

    The S&P 500 closed above 6,878, the level it traded at just before the Iran war began, marking a full recovery of conflict-driven losses. For XEQT holders, this is a reminder that markets can recover geopolitical shocks faster than headlines suggest, and no action is warranted.

  • 02

    Iran-Hormuz tensions ongoing

    A U.S. blockade of the Strait of Hormuz and stalled peace talks drove oil higher and rattled European markets early in the session, though U.S. equities finished strongly on deal optimism. This geopolitical backdrop remains fluid, but XEQT's broad diversification means no single conflict drives the portfolio.

  • 03

    U.S. Q1 earnings season opens

    Q1 earnings season began this week with U.S. banks and major companies set to report. Early results and tone will influence markets in the days ahead, but for a passive XEQT holder, short-term earnings volatility is already priced into the diversified structure of the fund.

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