Podcast
Inflation Cools, Tech and AI Rebound
Will Simpson and Greg Wise
December 20, 2025
Inflation numbers came in lower than expected, fuelling a bounce back in tech, AI and the market. Greg and I discuss what it means for investors going forward.
This week was a bit of a mixed bag for markets. The TSX led the way, up about 1% on the week, while the S&P 500 and Nasdaq posted more modest gains around 0.2% and 0.4% respectively. Europe quietly did fine, up roughly half a percent, but international markets were more uneven. Japan pulled back sharply after another rate hike and emerging markets struggled.
Stepping back from the week, one of the more interesting themes as we head into year-end is just how resilient markets have been in 2025 despite nonstop policy noise. Even with trade headlines, tariff concerns, and late-year weakness in parts of tech and AI, global equities delivered another strong year, and the rally clearly broadened beyond the U.S. Canada is a great example, with the TSX sitting on one of its best annual gains this century, driven by strength across financials, materials, and consumer names.
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Enjoy the holiday season and all the best to you and your family!
Will