📈 New All-Time High!

June 27, 2025

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Hello, my Friends!

Markets were buzzing today as a wave of explosive headlines hit the tape - this time stemming from rising trade tensions between Canada and the U.S.

📈 Despite the noise, Wall Street found early relief as fresh inflation data showed signs of remaining subdued - fueling renewed optimism that the Fed may cut rates in the months ahead.

🌊 That sentiment helped push the S&P 500 to break its previous all-time high from February, even as tariff fears loomed. But let’s not mistake it for smooth sailing. This was your classic short-seller liquidity sweep, followed by a textbook trap-and-reversal setup.

🔍 With both Nasdaq and S&P 500 charging into fresh record territory, traders are now asking: “Is this the start of a new leg higher into Q3 - or will the market consolidate and search for balance before its next move?”

Trade War 2.0?

Here’s what ignited the intraday volatility and renewed sell-side pressure:

  • Trump: “We're ending all trade talks with Canada.”

  • “We will inform Canada of its new tariff level within the next seven days.” (Truth Social)

  • “Canada, a very difficult country to trade with… is now placing a Digital Services Tax on our U.S. tech companies—this is a direct and blatant attack.”

Trump compared Canada’s move to the EU’s digital tax and declared the immediate termination of all ongoing trade negotiations, promising retaliatory tariffs within the week.

Nasdaq100

Within minutes, we saw intra-day sell pressure spike, particularly in tech and industrials, as algo desks reacted to the escalation in rhetoric. Traders should remain cautious - headline volatility remains a key driver.

What to watch next?

  • Will dip buyers defend the new highs?

  • Will macro news override technical setups?

  • And how will Canada respond?

The U.S - Canada Trade Connection

Before we dive into the charts, let’s step back and explore one of the most underrated powerhouses in global trade: the economic alliance between Canada and the United States.

This isn’t just about cross-border shopping and maple syrup - it’s a deeply integrated economic lifeline that fuels both nations' GDP.

📦1. $2 Billion+ a Day
Over $2 billion worth of goods and services move across the border daily - roughly $1.4 million every minute. That’s trade velocity on steroids.

🛻 2. The Longest, Busiest Border on Earth
The Canada-U.S. border is the world’s longest international boundary, mostly unfenced - yet 5,000+ trucks cross daily at just one point.

🛢️ 3. The U.S. Energy Plug Is North
Forget OPEC - Canada is America’s #1 supplier of oil, natural gas, and electricity. Over 60% of U.S. crude imports come from north of the border.

🧀 4. From Cheese Wars to Ketchup Tariffs
Yes, this friendship has seen quirky trade wars: 400% tariffs on dairy, endless softwood lumber disputes, and even a spat over ketchup and maple syrup.

🌽 5. Agriculture Flows Both Ways
Canada ships out beef, canola, and wheat, while importing Florida tomatoes, Midwest corn, and soybeans - filling each other’s grocery shelves year-round.

💻 6. Services Trade is Quietly Exploding
It’s not just goods. Canada is a major buyer of U.S. software, while exporting services from Shopify, CGI, and other tech giants back to the States. Digital trade is booming.

🚘 7. One Car, Two Countries
Auto parts cross the border up to 7 times before a single vehicle is fully assembled. The supply chain is North American, not national.

📈 8. 75%+ of Canadian Exports Go to the U.S.
Over three-quarters of Canada’s exports head south - to power U.S. homes, build planes, and even support hospitals. That’s deep dependency..

U.S. and Canadian economies are tightly woven together. Disruption here isn’t just a blip - it’s a macro event with real supply chain and GDP implications. That’s why price reacts swiftly - because the market knows: these two countries need each other to thrive.

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Outsmart college costs

Ready for next semester? June is a key time to assess how you’ll cover college costs. And considering federal aid often isn’t enough, you might have to consider private student loans.

You’re just in time, though—most schools recommend applying about two months before tuition is due. By now, colleges start sending final cost-of-attendance letters, revealing how much you’ll need to bridge the gap.

Understanding your options now can help ensure you’re prepared and avoid last-minute stress. View Money’s best student loans list to find lenders with low rates and easy online application.

Spotlight your startup saga - tell me how your entrepreneurial adventure unfolded! Simply hit “reply” to this email and join the conversation on X.

Until next time,
Steve B
Founder, The Daily Impulse

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