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Budget Day 2026: What a $63B+ Deficit Means for Your Wallet

  Canadian Money Brief • Thursday, November 5, 2026 Ottawa tables its second Carney-era budget today. Almost everyone expects big spending. Hardly anyone expects it to help their own bank account. Here is what the numbers say, and what to do about it. Finance Minister François-Philippe Champagne says today’s budget is about “changing Canada’s growth model”: less reliance on the U.S., more building at home. That is a big-picture pitch. Your household budget is a small-picture problem, and a new Abacus Data poll shows the gap between the two is wide. The poll in one line: only 10% of Canadians expect Budget 2026 to make their household better off. 30% expect to be worse off, and 48% expect little difference. (Abacus Data, 1,809 adults, Oct. 30 to Nov. 3.) The deficit, in plain numbers The Parliamentary Budget Officer (PBO) is the government’s independent fiscal referee. Its latest outlook, which predates the budget and only counts measures already announced, sets the stage: PBO proj...
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Wall Street Leans Toward Gains, Disney Tumbles After Posting Second-Quarter Loss



Wall Street experienced a seesaw of gains and losses before the opening bell today, as more corporate earnings reports arrived during what is otherwise expected to be a relatively quiet week. Here are the key highlights:

  1. Futures for the S&P 500 and the Dow Jones Industrial Average rose slightly, each gaining less than 0.1%. However, Disney faced a significant tumble of more than 6% in premarket trading after posting a second-quarter loss. The decline was primarily due to restructuring costs and other charges. Despite these challenges, when adjusted for those costs, Disney managed to beat Wall Street’s per-share profit expectations, although it fell short of sales targets.

  2. Tesla, another notable player, dipped slightly after federal highway safety investigators requested information about the fix in a recall of more than 2 million vehicles equipped with the company’s Autopilot partially automated driving system. The U.S. National Highway Traffic Safety Administration reported 20 crashes since the remedy—an online software update—was sent out in December. Tesla’s shares were down 1.8% before the bell and have fallen more than 25% this year.

  3. Corporate Earnings: This week is relatively quiet since the bulk of companies in the S&P 500 have already reported their earnings for the first three months of the year. More than three-quarters of them have exceeded profit expectations, according to FactSet. Corporate profit reports have been better than expected not only in the United States but also in Europe and Japan. Global earnings growth is on track for a second straight quarter of growth following four consecutive declines.

  4. Market Swings: The U.S. stock market has been oscillating between gains and losses since setting a record at the end of March. It initially sank due to fears that stubbornly high inflation would prevent or at least delay the Federal Reserve from delivering the interest rate cuts that Wall Street desired. However, it rebounded last week following a cooler-than-expected jobs report, suggesting that the U.S. economy was strong enough to avoid a severe recession without stoking inflation.

  5. Interest Rate Expectations: Traders are currently betting on a nearly 89% chance that the Fed will cut its main interest rate at least once before the end of the year, up from an 81.6% probability seen a week earlier. Lower rates would help ease the pressure on the economy and financial system.

  6. Global Markets: In Europe, Britain’s FTSE 100 surged 1%, Germany’s DAX rose 0.6%, and the CAC 40 in Paris rose 0.4%. Meanwhile, in Asian trading, Tokyo’s Nikkei 225 jumped 1.6% to 38,835.10.

In summary, while Wall Street remains cautious, the overall outlook for corporate earnings and global markets appears positive, despite occasional turbulence. Investors continue to monitor economic indicators and central bank actions closely. 



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