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Alberta Stands Alone: Refuses to Sign Joint Statement on Trump Tariffs

  In a surprising turn of events, Alberta has refused to sign a joint statement from the first ministers' meeting regarding the Trump administration's proposed tariffs on Canadian goods. Premier Danielle Smith, who attended the meeting virtually, stated that Alberta cannot support the federal government's plan if it includes energy export tariffs.  The meeting, chaired by Prime Minister Justin Trudeau, aimed to present a united front against the U.S. tariff threats. However, Smith's refusal to sign the statement has highlighted the province's unique concerns about the potential impact on its energy sector. Alberta's oil and gas industry, which is Canada's largest export to the U.S., could face significant financial pressure if the tariffs are implemented. Smith emphasized that Alberta will take whatever actions are necessary to protect its economy and the livelihoods of its residents. This stance has sparked a debate among the premiers, with some urging unit...
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US stock futures paused on Friday, catching their breath after the record-breaking rally fueled by AI chipmaker Nvidia’s blowout earnings. Investors are now contemplating what lies ahead.

Market Overview

  • S&P 500 ( ^GSPC) and Dow Jones Industrial Average ( ^DJI) futures hovered around the flatline, having closed at all-time highs on Thursday.
  • Nasdaq 100 ( ^NDX) futures remained subdued after the tech-heavy index surged 3% to achieve its own record.
  • The global breakout frenzy added a staggering $277 billion to Nvidia’s market value, marking the largest single-day gain in Wall Street history.

Nvidia’s Meteoric Rise

  • Nvidia’s shares continued their meteoric ascent in Friday’s premarket, rising approximately 2% and on track to surpass a $2 trillion valuation.
  • As the AI euphoria begins to wane, market attention is shifting back to the possibility of a US interest-rate cut.
  • Federal Reserve officials have hinted at rate cuts, although opinions differ on the timing of this shift.

Earnings Season Highlights

  • A robust fourth-quarter earnings season is winding down, with over one-third of reports surpassing estimates.
  • Fintech company Square (SQ) provided an upbeat earnings forecast, propelling its shares higher.
  • Used-car seller Carvana (CVNA) reported its first annual profit, boosting its stock price.

In summary, while the stock market takes a pause, investors remain vigilant for further developments. The AI-driven rally has left its mark, but uncertainties persist. As we navigate these dynamics, keep an eye on the Fed’s next moves and corporate earnings surprises.


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