This is the close brief for Fri, Aug 7, 2026. View latest

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Close Edition. Friday, August 7, 2026

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$46.10
+0.44%

Headline

Jobs miss eases rate-hike pressure as all four XEQT sleeves advance and gains build through the close

XEQT closed at $46.10, up 0.44% on the day, with gains that widened appreciably through the afternoon after an already positive midday reading. The catalyst was a July U.S. payroll report showing an unexpected loss of 23,000 jobs, well short of the 83,000 gains expected, which pushed Treasury yields lower and reduced the probability of a September rate hike. All four regional sleeves finished in positive territory, the broadest participation of the week. Gold's 2.35% advance drove Canadian materials to a 4.60% gain, the session's most dramatic single-sector move.

How large is today's move?

Typical day · Today's +0.44% move is 0.7× the 20-day average move.

This scale measures size, not what to do. Larger moves are a normal part of holding a global all-equity fund.

The Regions

  • Canada

    25.38% of XEQT

    • XIC.TO
    +0.68% +0.17 pts to XEQT

    Canada contributed the largest share of XEQT's gain at +0.171 pp, with XIC.TO rising 0.68%. The story was almost entirely materials: among the sectors tracked, the materials segment surged 4.60%, driven by gold's climb to $4,400.80, adding roughly 0.78 pp within the sleeve. Energy fell 0.99% and financials slipped 0.35%, which offset some of that strength, yet materials' weight was more than sufficient to carry the sleeve positive.

    Canada market region icon

  • United States

    45.43% of XEQT

    • XTOT.TO
    • ITOT
    +0.24% +0.11 pts to XEQT

    The U.S. sleeve returned +0.24%, contributing +0.111 pp, with technology rising 1.42% and consumer discretionary up 1.49% among the sectors tracked. The CAD strengthened 0.49% against the USD, which trimmed the raw USD return before translation into XEQT's Canadian-dollar accounting. Energy fell 1.13% and financials slipped 0.36%, but neither was large enough to override the technology-led advance.

    United States market region icon

  • Intl Developed

    24.47% of XEQT

    • XEF.TO
    +0.53% +0.13 pts to XEQT

    XEF.TO gained 0.53%, contributing +0.130 pp, the second-largest sleeve contribution. Among the markets tracked, Japan was the standout, rising 1.84%; the Nikkei itself ended marginally lower on AI and chip weakness, but the broader MSCI EAFE slice of Japanese equities outperformed the narrow index. Switzerland added 1.22% and Germany 1.15%, with rate-hike relief from the U.S. jobs data reinforcing sentiment in European markets.

    Intl Developed market region icon

  • Emerging Mrkts

    4.65% of XEQT

    • XEC.TO
    +0.35% +0.02 pts to XEQT

    XEC.TO rose 0.35%, contributing a modest +0.016 pp given the sleeve's 4.65% XEQT weight. Within the tracked exposures, Taiwan, China, and South Korea each gained more than 1%, while South Africa rose 4.14%. Brazil fell 1.31%, acting as the main offset. The sleeve's small weight meant its strong underlying performance had limited headline impact on XEQT's total return.

    Emerging Markets market region icon

Colored bars represent biggest contributors to XEQT's move today (threshold = ±0.1 percentage points). Returns are daily ETF price moves for tracked regional or sector categories and may differ slightly from raw index movements.

The Hold Line

All four sleeves finishing positive on the same session is not a daily occurrence; the breadth here carries more signal than the magnitude. What stands out is that the gain built through the afternoon, with U.S. technology and international developed markets adding meaningfully after midday. A jobs report this far from consensus tends to redirect rate expectations sharply, and the VIX's move below 15 reflects a market reassessing near-term risk rather than fleeing it.

Signals

  • 01

    Gold surge splits Canada sleeve

    Gold rose 2.35% to $4,400.80, a level that directly pulled Canadian materials up 4.60% while energy fell 0.99%, producing a sharp divergence within the Canada sleeve. For XEQT holders, this pattern illustrates how commodity composition within a single sleeve can dominate the sleeve's return even when broader sector breadth is mixed.

  • 02

    Yield falls on payroll miss

    The 10-year U.S. Treasury yield, a benchmark rate that influences equity valuations and borrowing costs across the economy, fell to 4.66% after July payrolls missed by more than 100,000 jobs. Lower rate-hike expectations lifted technology and rate-sensitive growth names among the tracked U.S. sectors, and the effect rippled into European markets as well.

  • 03

    CAD strength mutes U.S. returns

    The Canadian dollar strengthened 0.49% against the U.S. dollar, meaning U.S. equity gains translated into meaningfully smaller CAD-denominated returns inside XEQT's largest sleeve. On a day when the U.S. sleeve's underlying USD performance was considerably stronger, currency translation absorbed a significant portion of that gain before it reached the fund level.

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Event Window

Key events from the last 20 days

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Jul 10 to Aug 7 · $45.35 → $46.10

+1.65%