Podcast
Trump’s ‘Big Beautiful Bill’
Will Simpson and Greg Wise
June 6, 2025
Canadian investors are concerned about the impact on their portfolios.
Strong performance continued this week, with markets extending their run higher. The S&P 500 climbed 1.2% (CAD) and crossed 6,000 for the first time since February, now up nearly 24% from the April lows. In Canada, the TSX gained 1%, powered by strength in Materials and Energy. Meanwhile, international equities saw mixed results, with Japan slipping and emerging markets inching higher.
While a high-profile feud captured most headlines, the more meaningful news for markets was a thaw in a few key relationships. Xi and Trump spoke this week, and there are reports that Carney and Trump are also holding talks on trade and security. Carney also announced plans to fast-track major infrastructure projects, which could have longer-term implications for the Canadian economy. Meanwhile, the Bank of Canada held rates steady as expected, with markets pricing in cuts later this year as signs of economic cooling persist.
Economic data was mixed but didn’t cause much market reaction. U.S. payrolls rose 139,000 in May, better than the 126,000 expected, and the unemployment rate held at 4.2%. ISM readings for both manufacturing and services slipped further below 50, pointing to slower growth. Still, bond yields moved higher and the Canadian dollar climbed to an eight-month high. Inflation data will be the key focus in the week ahead.
Please reach out if you have any questions or would like to discuss your investment portfolio, wealth plan or financial future.
If you have any family or friends that we may be able to help, we are here as a resource. We are here working for you.
We want you to be wealthy. We want you to feel wealthy.
We want you to Realize your Wealth™.
Best,