🚀 US ends trade talks with Canada

In partnership with

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. President Donald Trump abruptly terminated all U.S. trade negotiations with Canada, accusing the country of airing a “fake” advertisement featuring former President Ronald Reagan criticizing tariffs. The ad, funded by Ontario Premier Doug Ford’s government at a cost of $75 million, used edited clips from a 1987 Reagan radio address to warn that tariffs hurt American workers—drawing a rebuke from the Reagan Foundation, which said the ad misrepresented Reagan’s words. Trump claimed the ad was an attempt to influence a pending U.S. Supreme Court case on his tariffs and declared that all talks with Canada were “hereby terminated.” This marks the second time in 2025 that Trump has cut off trade discussions with Ottawa, after briefly doing so in June over a proposed digital services tax.

2. Procter & Gamble beat Wall Street expectations for both earnings and revenue in its fiscal first quarter, reporting adjusted earnings of $1.99 per share on $22.39 billion in sales, but revealed flat product volumes as consumer demand softened in some categories. CEO Jon Moeller called the current environment “challenging” as inflation, tariffs, and shifting shopping behaviours created what the company described as a “K-shaped” economy — with wealthier shoppers buying in bulk while lower-income consumers stretched every purchase. Beauty and grooming brands like Olay and Gillette saw modest growth, while fabric, home, and healthcare divisions lagged. P&G lowered its expected tariff-related costs for fiscal 2026 after Canada’s retaliatory tariffs were rescinded, but new tensions following President Trump’s abrupt halt to U.S.-Canada trade talks could raise future expenses. Despite these risks, P&G reaffirmed its full-year sales and profit forecast, signalling confidence in its pricing power and cost management strategy.

3. 100+ ChatGPT Prompts to Revolutionize Your Day. Supercharge your productivity with HubSpot's comprehensive guide. This free resource is your fast track to AI mastery. Find your guide here.*

4. Global hedge fund assets surged to a record $5 trillion in the third quarter of 2025, buoyed by $238 billion in new capital and trading gains as investors piled into funds benefiting from the AI boom, rising M&A activity, and expectations of lower interest rates. According to Hedge Fund Research, net inflows of $33.7 billion marked the strongest quarterly capital movement since before the 2008 financial crisis. Long/short equity funds were the standout performers, gaining 7.2% and growing to $1.5 trillion in assets, while macro hedge funds also rebounded with $33.5 billion in new capital and 4.7% returns. Industry-wide, hedge funds posted a 5.4% gain for the quarter and are up 9.5% year-to-date, signalling strong investor confidence despite ongoing geopolitical and market volatility. Analysts expect continued inflows through year-end as institutions seek both upside exposure and downside protection in a shifting global economy.

   Headlines

   1. Disney content and channels may be dropped from YouTube TV at the end of October.

   2. Target will cut 1,800 corporate jobs to streamline the business. This is the first mass layoff at Target in over 10 years.

* This is sponsored content