S&P/TSX composite edges slightly lower as markets watch Trump-Putin meeting

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This article was published 15/08/2025 (223 days ago), so information in it may no longer be current.

TORONTO – Canada’s main stock index edged lower to cap off Friday’s trading session, weighed down by losses in technology stocks, while U.S. markets were mixed amid a high-profile international meeting. 

“Within the day, I think everyone’s just waiting and watching for Trump … and what’s going to come out of this meeting, so it’s going to be interesting to see how that plays out,” said Jillian Bryan, senior investment adviser and portfolio manager at TD Wealth.

U.S. President Donald Trump’s face-to-face, high-stakes summit with Russian President Vladimir Putin in Alaska on Friday could determine the fate of European security as well as the trajectory of the war in Ukraine. European stock indexes finished mixed before Trump began his meeting with Russian President Vladimir Putin. 

“But with Trump and Putin meeting today, the direction of Russian sanctions and relations have major implications. So I think everyone is just sort of holding their breath at this point to see what’s going to happen today,” she said. 

The U.S. stock market set records this past week as expectations built that the U.S. Federal Reserve will deliver a cut to interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation.

A disappointing report about inflation at the U.S. wholesale level on Thursday made traders pare back bets, but they’re still overwhelmingly expecting cuts. 

The S&P/TSX composite index was down 10.50 points at 27,905.49. 

In New York, the Dow Jones industrial average was up 34.86 points at 44,946.12. The S&P 500 index was down 18.74 points at 6,449.80, while the Nasdaq composite was down 87.69 points at 21,622.98.

Regarding the slight decline for the TSX on Friday, Bryan said the market may be taking a pause.

“I definitely think the market’s had a huge run this year, and it’s very quiet in August. Everyone’s on summer holiday. The TSX is up 12.78 per cent this year, and occasionally the market just needs to take a pause. It can’t go up every single day,” she said.  

Going forward, Bryan said Canada’s benchmark index could benefit from an upcoming rebalancing on the U.K.’s benchmark FTSE 100 index. 

She said the index comprises many different countries, and its allocation to Canadian stocks has been relatively lower. When the rebalancing happens, she said this will result in the purchasing of more Canadian stocks, creating more buying demand. 

“This is going to make Canada relatively more important to international investors going forward,” Bryan said.  

“A lot of people aren’t aware of that. And I really think that’s part of the reason the Canadian market has done so well this year and probably will continue to do so.” 

The Canadian dollar traded for 72.43 cents US, unchanged from Thursday. 

The October crude oil contract was down US$1.05 at US$61.98 per barrel. The December gold contract was down 60 cents US at US$3,382.60 an ounce.

This report by The Canadian Press was first published Aug. 15, 2025.

— With files from The Associated Press 

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)