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The U.S. Is Banning Canadian Booze on Sept. 29 — Here's What It Means for Ontario's $1-Billion Industry

  LCBO shelves have been missing American bourbon and Napa wine since March 2025. In three weeks, the trade war flips direction — and this time it's Canadian producers, and the roughly 20,000 Ontarians who work for them, absorbing the hit. What's actually changing on Sept. 29 On Sept. 8, President Trump signed proclamations that ban a wide range of Canadian alcohol from entering the United States, effective 12:01 a.m. Eastern on Sept. 29. It's a different kind of measure than the tariffs Canadians have gotten used to reading about this year — this isn't a price increase, it's a door closed. Packaged beer, wine, cider, and spirits (including whisky, vodka, gin, rum, tequila and mezcal) are covered, alongside whey products, molasses, non-alcoholic beer, and larger motorcycles. Canadian alcohol previously imported but not yet cleared for consumption before Sept. 29 stays under the existing 50% duty instead of the outright ban. The White House's proclamation points ...
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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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