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Futures Steady as Tech Selloff Eases; Amazon Drops on AI Spending Surge

U.S. stock futures held steady in early premarket trading after a sharp tech-led decline earlier in the week, giving investors a moment to reassess the sector’s rapid pullback. Major index futures hovered near flat, suggesting a more measured tone after days of volatility. While sentiment remains cautious, some traders appear to be stepping back in following the recent selloff in high‑growth names. Amazon shares slipped in premarket action after the company signaled a significant increase in capital expenditures tied to artificial intelligence infrastructure. The planned investment highlights Amazon’s push to expand its AI capabilities, but the scale of spending raised concerns about near‑term pressure on margins. Market attention now turns to upcoming economic data and corporate earnings, which could help determine whether tech stocks regain momentum or continue to face headwinds. For the moment, futures point to a steadier start as investors look for the next catalyst.
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Canadian Bank Fees: A Costly Affair

 

In a recent eye-opening report by North Economics, it was revealed that Canadians are paying over $7.7 billion annually in ‘excess’ bank fees. This staggering figure has sparked concern as the federal government is already taking steps to mitigate bank fees.

The Alberta-based consultancy firm’s analysis showed that the fees charged by Canada’s Big Five banks—RBC, TD, BMO, CIBC, and Scotiabank—are significantly higher than those in the U.K. and Australia. The report highlights the disparity in charges for everyday banking services, including monthly account fees, non-sufficient funds, overdrafts, and ATM usage at other banks.

Alain de Bossart, the managing director of North Economics, compared the retail banking profits to deposits ratio of 2022 between Canadian and British banks. The findings suggest that the Big Five banks in Canada had an ‘excess’ income of $7.73 billion, which translates to roughly $250 per Canadian.

The Canadian Bankers Association responded by emphasizing the value and accessibility provided by the competitive banking system in Canada. They also mentioned that a significant percentage of Canadians do not pay any account fees.

This report has intensified the dialogue on bank fees in Canada, with many calling for a more consumer-friendly approach that aligns with global standards.

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