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Diamond & Specialty Minerals Summary for March 18, 2025

2025-03-18 17:55 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a mediocre 73-78-159 as the TSX Venture Exchange rose fractionally to 631. The market has been tough of late for investors in the major markets, which are having second thoughts about the benefits of the second coming of Donald Trump. The Dow Jones Index shot 3,000 points higher last November amid expectations President Trump would be good for the economy.

Unfortunately, the current infatuation with tariffs and the huge budget cuts being directed by Elon Musk and his Department of Government Efficiency group have peeled 4,000 points off the index over the past month. On the other hand, while the TSX-V stumbled late in February, it has since found its legs, tacking on over 40 points since early March despite the tariffs and countertariffs being imposed -- or at least threatened. Perhaps Howe Streeters are more adaptable -- or just more ingenious.

Take the burgeoning hydrogen promotion, for instance. Mr. Musk, major shareholder of Tesla Motors Inc., may have zigged when he should have zagged by getting heavily involved in the various brouhahas surrounding the Trump administration and its policies -- to the point that Canada and Europe are looking at cutting incentives, if not imposing sanctions, against Tesla's electric vehicles. One side effect of that serves to put more hot air into the already lighter-than-air hydrogen promotion.

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