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Premiers Split on Using Potash as a Trade Weapon — What It Means for Your Grocery Bill

  Published August 31, 2026 Canada's premiers can't agree on how far to take the trade war with the United States — and this week, the fight is over a grey mineral mined almost 2,000 kilometres from Ottawa: potash. The disagreement matters well beyond provincial politics. Potash is the "P" and "K" of fertilizer economics — a key ingredient in the blends that grow the wheat, canola, and corn that eventually show up as bread, canola oil, and everything fed to livestock. Canada supplies about 85% of the potash the U.S. uses, which is exactly why some premiers see it as leverage — and why others are warning that pulling that lever could backfire on the very provinces pushing for it. Ford wants to pull the lever. Moe and Smith are warning not to. Ontario Premier Doug Ford is pushing for the toughest response available, including resource-based leverage. Saskatchewan's Scott Moe and Alberta's Danielle Smith are pumping the brakes, warning that squeezing po...
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S&P 500 Inches Closer to Record High Amid Optimism About Fed’s Policy and Year-End Effect

 

The S&P 500 index closed just shy of a new record high on Thursday, with the broad index gaining 0.04%. The tech-heavy Nasdaq Composite fell 0.03%, while the Dow Jones Industrial Average rose 0.1%. Markets are ending 2023 on a hot streak, with all three indexes on pace for a ninth consecutive weekly gain. For the S&P 500, that would mark the longest streak since January 2004. The index is now within 0.3% of its all-time high, set in January 2022. With one trading session remaining in 2023, the S&P 500 is up 25%.

Investors are optimistic that the Federal Reserve can successfully cool inflation without inducing a major economic slowdown, which has powered the market’s recent advance. Now, some investors say the looming end of the calendar year is giving markets an extra boost. “Nobody who has caught this rally wants to incur a taxable event,” said Michael Green, chief strategist at Simplify Asset Management. “If nobody wants to sell, prices will push higher on low volume”.

The jobless claims data released by the Labor Department on Thursday indicated a gradual cooling of the economy. Initial jobless claims, considered a proxy for layoffs, were 218,000 in the week ending Dec. 23, slightly more than the 215,000 that economists expected.

Bond yields rose as prices fell, reflecting expectations of higher inflation and interest rates. The yield on the benchmark 10-year Treasury note rose to 3.849%, up from 3.7%.

Some investors are increasing their exposure to energy and industrial stocks, which could benefit from a strong economic recovery. Matt Dmytryszyn, chief investment officer at Telemus Capital, said his fund is boosting its position in shares of energy and industrial firms.


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