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Canadians Dread Another Election as Budget Showdown Looms in Ottawa

  Minister of Finance and National Revenue Francois-Philippe Champagne listens to a reporter's question ahead of a cabinet meeting on Parliament Hill in Ottawa, on Tuesday, Oct. 21, 2025. As tensions rise on Parliament Hill, Liberal MPs are emphatically rejecting the idea of a snap federal election, insisting that Canadians have no appetite for another trip to the polls. The warning comes amid a high-stakes standoff over the upcoming federal budget, which the minority Liberal government is struggling to secure support for. Government House Leader Steven MacKinnon acknowledged that the Liberals currently lack the votes needed to pass the budget, scheduled for tabling on November 4. He accused opposition parties of making "unserious" demands and playing political games, raising the specter of a holiday-season election if the budget fails to pas. Opposition leaders, however, are pushing back. Conservative House Leader Andrew Scheer argued that the Liberals are deliberatel...
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Stock Market Climbs to New Heights Ahead of Powell’s Testimony

 

The stock market witnessed modest gains today, with both the S&P 500 and Nasdaq Composite achieving new record highs. Investors are keenly anticipating Federal Reserve Chair Jerome Powell’s upcoming congressional testimony, which could provide crucial insights into the future of interest rates.

  • Modest Gains: The S&P 500 rose by 0.1%, while the Nasdaq Composite saw a 0.3% increase, marking a continuation of their upward trajectory.
  • Economic Indicators: Recent jobs reports suggest a cooling labor market, leading to increased speculation about a potential rate cut by the Federal Reserve in September.
  • Corporate Updates: Notable movements in the corporate sector included Boeing’s guilty plea to a criminal conspiracy charge related to the 737 Max crashes, and Tesla’s shares turning positive, potentially extending its winning streak.
  • Cryptocurrency Watch: Bitcoin hovered near the $56,000 mark, maintaining its position despite recent sell-offs and the ongoing repayment process by the defunct crypto exchange Mt. Gox.

As the market landscape evolves, all eyes remain on Powell’s testimony and the forthcoming Consumer Price Index data, which could further influence investor sentiment and market dynamics.\

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