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Senate Democrats Block Funding Bill Again, Demand Health Care Action

For the tenth time in just over two weeks, Senate Democrats have rejected a Republican-backed stopgap spending bill, prolonging a government shutdown now stretching into its third week. The vote, which failed 51–45, fell short of the 60 votes needed to advance under Senate filibuster rules. Democrats remain firm in their stance that any funding deal must include provisions to extend health care benefits, particularly subsidies under the Affordable Care Act that are set to expire at the end of the year. Senate leaders argue that without these protections, millions of Americans could face higher costs or lose coverage altogether. Meanwhile, the shutdown has left hundreds of thousands of federal workers furloughed or working without pay, with ripple effects across the country. Flight delays, suspended services, and uncertainty over Social Security and other benefits have added to public frustration. Republicans, led by Senate Majority Leader John Thune, have urged Democrats to separat...
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S&P/TSX Composite Closes Lower Amid Broader Losses

Canada’s main stock index, the S&P/TSX composite, closed lower on Friday, echoing the trend in U.S. markets. Despite earlier gains, the S&P/TSX composite index ended down 66.37 points at 21,875.79. The decline was driven by weakness in energy and industrials sectors.

Statistics Canada reported that real gross domestic product (GDP) grew 0.3% in April, but the early read for May showed growth slowing to 0.1% for the month. Consumers in Canada appear to be pulling back, impacted by higher interest rates over the past two years. Portfolio manager Hadiza Djataou noted that consumption is taking a hit, influencing stock performance.

In New York, the Dow Jones industrial average was down 45.20 points at 39,118.86, the S&P 500 index dropped 22.39 points to 5,460.48, and the Nasdaq composite fell 126.08 points to 17,732.60. The U.S. Federal Reserve’s preferred inflation gauge indicated a 2.6% rise in consumer prices for May, easing from April’s 2.7% reading.

The Canadian dollar traded at 73.06 cents US, and while Canada’s GDP data didn’t significantly impact interest rate expectations, Djataou anticipates further pressure on the loonie due to diverging economic trajectories between Canada and the U.S.


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