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Democrats Win U.S. Congress: What It Means for Canadian Tariffs and Your Wallet

  Canadian Money Brief • Wednesday, November 4, 2026 Democrats have won control of both the U.S. House and Senate, including seats in states Donald Trump carried by double digits two years ago. For Canadians, the big question is simple: does this end the tariffs? The short answer is not yet. What happened The Associated Press and major U.S. networks called the Senate for Democrats late Tuesday night and the House early Wednesday. Democrats flipped seven Republican-held Senate seats, according to Forbes’ tally of AP calls, including Maine, North Carolina, Iowa, Ohio and Texas. In the House, roughly 75 races were still undecided at last report, and the new Congress does not take over until 2027. Democratic leaders framed the result as a call for change, while news outlets widely described it as a rebuke of President Trump. Trump told the New York Times he was “absolutely willing” to accept the results and said Republicans would work with Democrats. Why it matters in Canada Democrati...
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Stock Market Update: Mixed Finish as Yields Rise in Q2 2024


The stock market kicked off the second quarter of 2024 with a mixed performance, as US treasury yields climbed. Here are the key highlights:

  1. S&P 500 ( ^GSPC): The S&P 500 index closed down 0.2%, reflecting the cautious sentiment among investors.

  2. Dow Jones Industrial Average ( ^DJI): The Dow Jones fell 0.6%, adding to the uncertainty in the market.

  3. Nasdaq Composite ( ^IXIC): The tech-heavy Nasdaq Composite managed to close slightly higher, although it retreated from its earlier session highs.

  4. Bond Yields: The benchmark 10-year Treasury yield (^TNX) rose by 12 basis points to 4.32%, approaching its highest level of the year. This surge in yields raised questions about the economy’s acceleration and its potential impact on the Federal Reserve’s interest rate decisions.

  5. Manufacturing Sector Expansion: Data released on Monday revealed that the US manufacturing sector is in its strongest position since 2022. The Institute for Supply Management’s manufacturing PMI indicated expansion for the first time since September 2022. Additionally, S&P Global reported that production hit a 22-month high last month, signaling continued economic strength.

  6. First Quarter Performance: Equities have started 2024 on a positive note. The S&P 500 has set 22 fresh closing records so far this year, marking its best first quarter since 2019. All three major averages have risen for five consecutive months.

  7. Upcoming Jobs Report: The highlight of the first week of Q2 is Friday’s jobs report, which will provide further insights into the economy’s health and serve as a crucial signal for the Federal Reserve.

In summary, while mixed market performance persists, investors remain watchful of economic indicators and central bank actions. Stay tuned for further updates as the quarter unfolds.


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