This is the midday brief for Thu, Aug 13, 2026. View latest

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Midday Edition. Thursday, August 13, 2026

Curated market context for passive investors.

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$46.30
+0.24%

Headline

U.S. technology and record S&P 500 keep XEQT positive as Canada's sleeve slips into the red

XEQT is up 0.24% through midday Thursday, a gain that has moderated from the +0.39% reading at the open as Canada's sleeve has drifted into negative territory. The U.S. sleeve remains the session's main driver, contributing roughly 0.19 percentage points, supported by strength in technology and communication services as the S&P 500 reached a new record intraday high amid softer U.S. producer price data and easing rate-hike expectations. Three sleeves remain positive, with emerging markets and international developed adding modest support. Canada is the lone drag.

How large is this afternoon's move?

Typical day · This afternoon's +0.24% move is 0.4× 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

    25.59% of XEQT

    • XIC.TO
    -0.14% -0.03 pts from XEQT

    The Canadian sleeve is down 0.14%, subtracting about 0.04 percentage points from XEQT. Materials are the source of the drag, falling 2.53% among the sectors tracked, while information technology has risen 2.50% and partially offset that weakness. Financials and energy posted modest gains, leaving the sleeve just below flat.

    Canada market region icon

  • United States

    45.06% of XEQT

    • XTOT.TO
    • ITOT
    +0.43% +0.19 pts to XEQT

    The U.S. sleeve is up 0.43%, supplying roughly 69% of XEQT's total gain so far. Technology is up 1.12% and communication services 1.35% among the sectors tracked, with softer producer price data and retreating rate-hike expectations providing the backdrop. Industrials and energy edged lower, but their weight was not enough to offset growth sector strength.

    United States market region icon

  • Intl Developed

    24.43% of XEQT

    • XEF.TO
    +0.15% +0.04 pts to XEQT

    International developed markets are contributing a modest +0.037 percentage points to XEQT, with Japan up 0.67% providing the clearest positive force within the tracked exposures. The Netherlands added incremental support, while the UK, Australia, France, and Singapore are lower on the session, leaving the sleeve's net gain narrow.

    Intl Developed market region icon

  • Emerging Mrkts

    4.70% of XEQT

    • XEC.TO
    +0.34% +0.02 pts to XEQT

    Emerging markets are up 0.34%, a result shaped by a sharp divergence beneath the surface. South Korean equities rose 2.14% and Taiwan-related equities gained 1.59% among the areas tracked, with South Korea's Kospi entering bull-market territory. China fell 1.13% and South Africa 1.54%, absorbing a significant portion of those gains and leaving the sleeve's net contribution to XEQT at roughly 0.02 percentage points.

    Emerging Markets market region icon

Colored bars represent biggest contributors to XEQT's move this afternoon (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

The gap between the U.S. sleeve's +0.43% gain and Canada's -0.14% slip illustrates that single-day geographic divergence is part of how a globally diversified fund functions, not a signal to act on. Materials weakness in Canada was significant within that sleeve, yet it was absorbed cleanly at the fund level. The session so far reflects a fund running close to its recent average pace, with the dominant contribution coming from a sector with clear positive momentum rather than from a broad risk-on sweep.

Signals

  • 01

    Growth sectors anchor U.S. sleeve

    U.S. technology is up 1.12% and communication services 1.35% among tracked sectors, together accounting for most of the U.S. sleeve's 0.43% advance and the majority of XEQT's midday gain. For a long-term holder, concentration of a session's return in two adjacent growth sectors is normal in the current market environment and does not alter the fund's underlying geographic diversification.

  • 02

    Oil decline pressures commodity sectors

    WTI crude oil, which tracks the spot price of North American benchmark oil and is a key input for energy-sector earnings, is down 1.60% on the session. Canadian energy is only slightly positive and U.S. energy is the weakest tracked U.S. sector, consistent with that price move, while Canadian materials are down 2.53%, widening the drag on the Canada sleeve.

  • 03

    EM split: Korea surges, China retreats

    South Korea's equity market has entered bull-market territory according to cited coverage, with South Korean equities rising 2.14% among the areas tracked, while China fell 1.13% and South Africa dropped 1.54% in the same sleeve. The emerging markets sleeve is net positive at 0.34%, but the divergence is wide enough that the composition of EM exposure matters more than the headline sleeve return on a session like this.

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