This is the close brief for Thu, Sep 24, 2026. View latest

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Close Edition. Thursday, September 24, 2026

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$45.71
+0.07%

Headline

U.S. communication services rescue XEQT from a broadly weak session as Wall Street swings on Hormuz news

XEQT closed at $45.71, up 0.07%, as U.S. communication services and health care offset broad weakness across technology, industrials, and most international markets. The U.S. sleeve contributed roughly 0.13 percentage points to the fund's gain, carrying the session despite a whipsaw day on Wall Street where stocks recovered earlier losses after reports of U.S.-Iran discussions over the Strait of Hormuz pulled oil back from its peak. Canada's sleeve slipped 0.20%, as a sharp decline in materials and weakness in industrials outweighed a solid day for energy and information technology. International developed and emerging markets each detracted modestly.

How large is today's move?

Typical day · Today's +0.07% move is 0.1× 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

    25.24% of XEQT

    • XIC.TO
    -0.20% -0.05 pts from XEQT

    Canada's sleeve fell 0.20%, contributing roughly minus 0.05 percentage points to XEQT. Materials were the sharpest drag among the sectors tracked, declining 1.17%, while industrials and rate-sensitive utilities and real estate also lost ground. Canadian energy rose nearly 1.0%, consistent with WTI crude climbing above $94, and information technology advanced 2.12%, but neither was large enough to offset the broader weakness.

    Canada market region icon

  • United States

    45.62% of XEQT

    • XTOT.TO
    • ITOT
    +0.29% +0.13 pts to XEQT

    The U.S. sleeve rose 0.29%, the only sleeve to add meaningfully to the fund. Communication services gained 1.27% and health care rose 0.63% among tracked sectors, more than offsetting declines in technology, industrials, and consumer staples. The recovery was uneven: the Nasdaq ended roughly flat while the Dow fell 0.3%, reflecting the rotation toward communication services and health care rather than a broad advance.

    United States market region icon

  • Intl Developed

    24.13% of XEQT

    • XEF.TO
    -0.02% -0.00 pts from XEQT

    XEF.TO was essentially flat, down just 0.02%. Within the tracked markets, Japan was the notable weak point, falling 1.28% and subtracting meaningfully within the sleeve, while Spain, France, the Netherlands, and the UK each posted modest gains that nearly balanced the drag. An ECB leadership development, the announced departure of board member Isabel Schnabel ahead of schedule, added a layer of uncertainty to the European rate outlook.

    Intl Developed market region icon

  • Emerging Mrkts

    4.88% of XEQT

    • XEC.TO
    -0.27% -0.01 pts from XEQT

    XEC.TO slipped 0.27%, subtracting about 0.01 percentage points from XEQT. South Korean equities declined 1.68% among the markets tracked, and Indian and Chinese equities also fell. Taiwan-listed equities rose 0.52%, providing a partial offset within the sleeve, though it was not sufficient to lift the aggregate. Fund managers have been cutting South Korean index targets as investor preference has shifted toward U.S. markets.

    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

The session's net outcome, a gain of just 0.07%, obscures the real story: U.S. communication services and health care absorbed the drag from technology and industrials, while WTI crude at nearly $95 rewarded Canadian energy yet could not lift the broader TSX. A fund holding four geographies simultaneously will routinely see internal offsets like these, where no single region dominates the outcome. The 10-year Treasury yield at 5.16% remains the most consequential macro backdrop for rate-sensitive assets inside this portfolio, a pressure that has been building across much of September's rolling-month return.

Signals

  • 01

    Communication services offset U.S. tech weakness

    U.S. communication services rose 1.27% among tracked sectors, providing the primary lift that kept the U.S. sleeve positive on a day when technology, industrials, and consumer staples all declined. For a long-term XEQT holder, this kind of intra-sleeve rotation illustrates that the fund's U.S. exposure is not purely a technology bet; other sectors can carry when the largest names pull back.

  • 02

    10-year yield hits fresh multi-year high

    The 10-year U.S. Treasury yield, a benchmark for the cost of long-term borrowing that influences valuations across equity markets, closed at 5.16%, rising nearly 1% on the day and reaching a fresh multi-year high. Rate-sensitive Canadian sectors including utilities, real estate, and consumer staples were all negative, a pattern consistent with this yield level making defensive income assets less attractive relative to bonds.

  • 03

    Oil surge splits Canadian commodity sectors

    WTI crude oil, the North American benchmark for oil prices, rose 3.01% to nearly $95 before pulling back from its session peak following the Hormuz news; Canadian energy gained 0.99% among tracked sectors while Canadian materials fell 1.17%, the sharpest split within the sleeve on the day. This divergence within Canada confirms that the TSX's commodity exposure is not monolithic: oil strength and materials weakness can run in opposite directions within the same session.

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Key events from the last 20 days

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Aug 27 to Sep 24 · $46.00 → $45.71

-0.63%