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Carney Government Faces First Budget Confidence Test in Commons

                 Prime Minister Mark Carney's budget needs two opposition MPs to either support or abstain it to pass. The House of Commons is set to hold its first confidence vote tied to Prime Minister Mark Carney’s inaugural federal budget on Thursday evening. The vote will focus on a Conservative sub-amendment to a Bloc Québécois amendment, both of which challenge key elements of the government’s fiscal plan. The Liberal government has declared the votes to be matters of confidence , meaning defeat could trigger a federal election. While the stakes are high, the government is expected to survive this initial test thanks to support from the New Democratic Party (NDP) and the Bloc Québécois , who have both signaled they will vote against the Conservative motion. Interim NDP Leader Don Davies confirmed that his caucus of seven MPs will side with the Liberals, ensuring the defeat of the Conservative sub-amendment. However, Davies ...
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US Stock Futures Retreat as Tech Stocks Lose Steam


US stock futures inched lower on Tuesday as the previous day’s tech rally lost steam after a Samsung profit warning took the shine off the sector. The S&P 500 and Nasdaq 100 futures fell 0.4% and roughly 0.6%, respectively, after both indexes closed with their best single-day gains since November. Dow Jones Industrial Average futures were down 0.4%.

Samsung’s update weighed on hopes for a rebound in the PC and mobile sector, a key market for its memory chips. The Korean company said it expects a 35% drop in fourth-quarter operating income, far short of estimates, as demand continues to lag.

Investors are currently focused on the December consumer inflation reading due Thursday and what it could mean for the chances of an easing in interest rates. But two Federal Reserve officials on Monday poured cold water on Wall Street’s already fading expectations that a cut could come in the next few months.

Meanwhile, oil prices rose over 2%, recouping some of Monday’s near 4% fall as investors weighed the impact of tensions in the Middle East and Saudi Arabia’s decision to cut crude prices.


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