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AI Anxiety and Metal Mayhem Shake U.S. Markets

U.S. stock futures stumbled as renewed doubts about the sustainability of the artificial‑intelligence boom rippled through financial markets. Tech-heavy benchmarks led the decline, with Nasdaq futures sliding and the S&P 500 also moving lower as investors reassessed whether AI-linked valuations have run too far, too fast. The unease wasn’t limited to equities. Precious metals experienced dramatic intraday swings, with gold and silver both whipsawing after a period of rapid gains. Traders pointed to shifting expectations around interest rates and safe‑haven demand as key drivers behind the volatility. The combination of tech-sector skepticism and commodity turbulence has created a tense backdrop for markets. While some investors see the pullback as a healthy reset, others worry it may signal deeper concerns about the durability of the recent rally. Markets now look ahead to upcoming economic data and corporate earnings for clearer direction.
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Canada Posts $1 Billion Trade Deficit in April

 

Canada recorded a merchandise trade deficit of $1.0 billion in April, according to Statistics Canada. This result follows a revised deficit of $2.0 billion for March, which was initially reported as $2.3 billion.

Here are the key points:

  • Exports:
    • Total exports in April increased by 2.6% to $64.4 billion.
    • Exports of energy products rose by 2.7%, with natural gas exports surging by 60.1%.
    • Crude oil exports also gained 3.0%.
    • Metal and non-metallic mineral products exports rose by 4.7%, driven by unwrought gold, silver, and platinum group metals.
  • Imports:
    • Total imports rose by 1.1% to $65.5 billion in April.
    • Imports of motor vehicles and parts increased by 4.2%.
    • Imports of aircraft and other transportation equipment and parts surged by 23.7%, including the delivery of several ships.
  • Trade in Services:
    • Canada’s monthly international trade in services deficit increased to $1.1 billion in April.
    • Imports of services rose by 1.1% to $18.0 billion, while exports of services remained essentially unchanged at $16.9 billion.
  • Combined Trade Deficit:
    • When goods and services are combined, Canada’s total trade deficit with the world was $2.2 billion in April, compared to $2.9 billion in March.

Economists expect further export gains due to higher oil pipeline capacity and one-off events in the auto sector, while imports may decline due to weak domestic demand and elevated inventory levels.


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