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Wall Street Pauses as Fed Meeting Looms: Futures Hold Steady

U.S. stock futures were little changed on Tuesday as investors awaited the start of the Federal Reserve’s final policy meeting of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all hovered near flat, reflecting a cautious mood across Wall Street. The Fed is widely expected to keep interest rates unchanged, but traders are focused on Chair Jerome Powell’s comments and the central bank’s updated economic projections. Markets are looking for clues on when rate cuts might begin in 2024, with inflation cooling but still above the Fed’s long-term target. Recent gains in equities have been fueled by optimism that the Fed’s tightening cycle is over, yet uncertainty remains about how quickly monetary policy will shift toward easing. Until then, investors appear content to hold their positions, waiting for clearer signals from the Fed before making bold moves.
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Grocery prices to rise by up to 4.5% in 2024, report predicts

 

The annual Canada’s Food Price Report forecasts that the average Canadian family of four will spend $700 more on food in 2024, reaching a total of $16,297.20. The report, which is produced by four Canadian universities, projects that bakery, meat and vegetables will see the highest price increases, up to 7 per cent.

The report attributes the rising food costs to several factors, including interest rates, energy costs, climate change, transportation expenses and geopolitical risk. However, it also notes that the rate of increase is slowing compared to the previous two years, when the COVID-19 pandemic disrupted the food supply chain and caused inflation to spike.

Some essential items, such as dried pasta, sauces and canned goods, could become cheaper in 2024, as grocery chains compete for customers and benefit from lower commodity prices. The report also suggests that families spent less on groceries in 2023 than in 2022, possibly due to higher housing costs and debt levels.

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