Pension Pulse

Amalya Dubrovsky and Karen Friar of Yahoo Finance report the Dow, S&P 500, Nasdaq fall as Trump tariff threats roar back, US deficit anxiety deepens: US stocks fell on Friday to register weekly losses as investors assessed President Trump's latest tariff threats and the potential impact of his massive tax bill on the deficit and the economy. The Dow Jones Industrial Average ( ^DJI ) sank 0.6%. The S&P 500 ( ^GSPC ) also fell roughly 0.7%. The tech-heavy Nasdaq Composite ( ^IXIC ) backed off about 1%. All three major averages fell more than 2% for the week. The three indexes trimmed steeper losses that took off after Trump said on Friday that Apple ( AAPL ) must pay a 25% tariff on iPhones sold but not made in the US. The tech giant has begun shifting some manufacturing to India, with China, home to its key suppliers, locked in a trade war with the US. Apple shares fell about 3%. On Friday afternoon, Trump implied the tariffs would apply to other cell phone man...

Barbara Shecter of the National Post reports CPP Investments' CEO says the Fund not planning to cut US exposure despite ‘wild ride’ in markets: The chief executive of CPP Investments says he has no plans to reduce the portfolio’s allocation to the United States despite volatility sparked by U.S. President Donald Trump’s protectionist policies and trade threats. “The U.S. continued, through the fiscal year at least, to be … the highest performing region,” John Graham said in an interview after the fund posted a 9.3 per cent return for the fiscal year ended in March. The CPP fund’s U.S. exposure grew to 47 per cent in fiscal 2025, up from 42 per cent a year earlier.  “A lot of that is just appreciation,” he said, noting that the U.S. dollar also rose against the Canadian currency for much of the year. The CPP fund’s net assets now total $714.4 billion, up from $632.3 billion at fiscal 2024. “One of the challenges we all have is, if you take your hands off the stee...