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Canada Holds Steady: Interest Rate Pause Signals Cautious Confidence

                      The Bank of Canada also held its policy rate at its last scheduled rate announcement in December. The Bank of Canada has opted to keep its key interest rate at 2.25% , a move that underscores a careful balancing act as the country approaches a pivotal moment in North American trade relations. With CUSMA (the Canada‑United States‑Mexico Agreement) negotiations on the horizon, policymakers appear intent on maintaining stability while assessing potential economic turbulence. The decision reflects a mix of optimism and prudence. Inflation has been easing gradually, giving the central bank some breathing room. At the same time, global economic uncertainty and the high stakes of upcoming trade talks mean officials are reluctant to introduce new variables into the financial system. By holding the rate steady, the Bank of Canada signals confidence in the economy’s underlying resilience while acknowledgin...
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Stock Futures Point to Continued Record-Setting Run on Wall Street

                                        

In a bullish start to the day, US stock futures are indicating a higher open as Wall Street aims to extend its record-setting run. Here are the key points:

  1. Futures on the S&P 500 (symbol: ^GSPC) have risen nearly 0.4%.
  2. Dow Jones Industrial Average futures (symbol: ^DJI) are up by about 0.2%.
  3. Nasdaq Composite futures (symbol: ^IXIC) lead the way, rising approximately 0.5%.

Despite a brief pause in the rally on Monday, where all three major indexes dipped slightly, the overall mood remains bullish. Notably, Oppenheimer Asset Management strategist John Stoltzfus has raised his 2024 S&P 500 price target to a Street-high 5,500.

Economic data is in focus today, with readings on durable goods orders and US consumer confidence due. Additionally, the Case-Shiller home price index will be released. However, the main event awaits us on Friday when the government will publish the Personal Consumption Expenditures Price Index (core PCE growth)—the Federal Reserve’s preferred gauge of inflation pace.

In company news, Trump Media & Technology Group Corp. (symbol: DJT) is making its Wall Street debut after merging with Digital World Acquisition Corp. Shares of Trump Media & Technology Group Corp. have surged as much as 20% in premarket trading.

Stay tuned for more market updates as the week unfolds.

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