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U.S. Midterms Tuesday: What the Vote Could Mean for the Loonie, Tariffs and Your Portfolio

  Canadian Money Brief | Feature U.S. Midterms Tuesday: What the Vote Could Mean for the Loonie, Tariffs and Your Portfolio By MoneySavings.ca | Published November 1, 2026 Americans vote Tuesday in elections that will fill all 435 House seats and 35 Senate seats. Canadians don't get a ballot, but we do get the consequences: a loonie that swung from an 18-month low to a six-week high in about two weeks, a tariff fight that has put 50% duties on roughly US$20 billion of our exports, and a lot of U.S. stock sitting inside our TFSAs and RRSPs. Here is how to think about all of it without trying to guess the winner. The short version: Nobody can reliably trade an election result. Forecasters lean toward Democrats winning the House, with the Senate closer. But history says the bigger market moves tend to come in the months after the vote, not on election night. For Canadians, the useful steps are practical: convert U.S. dollars in pieces, know how much U.S. stock you hold, and don't...
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Stock Market Today: Wall Street Reacts to Mixed Earnings from Big Banks


Wall Street experienced a cautious start today as several major banks reported mixed first-quarter earnings. The market sentiment was influenced by expectations of potential interest rate cuts by the Federal Reserve.

Earnings Reports and Guidance

  • Mixed Bag: Big banks delivered a blend of positive and negative news. Some exceeded expectations, while others trimmed their guidance.
  • Interest Rate Assumptions: The banks’ cautious outlook was based on the assumption that the Federal Reserve might cut interest rates.

Global Markets and Tech Rebound

  • European Shares: European markets opened higher despite Asian markets retreating. A tech-fueled rebound on Wall Street the previous day had a ripple effect.
  • Oil Prices: Oil prices trended higher.
  • S&P 500 and Dow Jones: The future for the S&P 500 slipped slightly, while the Dow Jones Industrial Average edged higher.
  • Germany’s DAX: The DAX advanced, with inflation easing in March.
  • Asian Equities: Asian markets showed resilience, even amid a stronger U.S. dollar and China’s deflationary challenges.

Tech Stocks Take the Lead

  • S&P 500: The index rose, driven by Big Tech. Apple and Nvidia were notable gainers.
  • Amazon Sets a Record: Amazon’s stock climbed, surpassing its prior high set in 2021.
  • Market Dynamics: The gains, which had been spreading out, shifted back to a handful of Big Tech stocks.
  • Inflation Concerns: Persistent high inflation remains a key concern for traders, impacting bond markets and interest rate expectations.

Conclusion

The stock market remains dynamic, responding to earnings reports, inflation data, and global trends. Investors are closely watching the Federal Reserve’s moves. As the year unfolds, market dynamics will continue to evolve, shaping investment strategies.


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