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The Subway That Took a Generation: Why the Eglinton Crosstown’s Delays Were Even Worse Than You Think

  Toronto has a long history of transit projects that drag on, but the Eglinton Crosstown LRT has become the city’s defining example of how complicated, political, and painfully slow building transit can be. Most people think of the project as something that started in the early 2010s and simply ran over schedule. The truth is far messier—and stretches back decades. A Project With Roots in the 1990s Long before shovels hit the ground in 2011, the idea of rapid transit along Eglinton was already alive. In the mid‑1990s, the TTC began digging tunnels for what was then called the Eglinton West Subway . Construction actually started—tunnels were being carved out under the street—until the project was abruptly cancelled in 1995. The partially built tunnels were filled in, and the corridor sat untouched for years. That early false start meant that by the time the Crosstown was revived as part of the Transit City plan in 2007, planners weren’t starting fresh. They were restarting a dr...
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US Futures Rise as Inflation Cools Unexpectedly

                                            

US stock futures are on the rise today after a key report on consumer inflation surprised investors. The Consumer Price Index (CPI) declined 0.1% over the previous month, marking the first month-over-month decrease since 2020. Additionally, the annual gain in consumer prices was the slowest rise since early 2021, coming in at just 3.0% over the prior year in June.

Here are the highlights:

  • S&P 500 Futures: The broad index crossed 5,600 for the first time on Wednesday, and futures rose by 0.2% today.
  • Dow Jones Industrial Average Futures: These rose roughly 0.1%.
  • Nasdaq 100 Futures: Contracts on the tech-heavy Nasdaq 100 also gained around 0.2%.

Fed Chair Jerome Powell’s recent comments have fueled expectations of interest-rate cuts, and today’s inflation data further bolstered bets on a cut by September. Approximately 87% of traders now expect such an outcome, according to the CME FedWatch tool.

In corporate news, Costco shares rose in pre-market trading after announcing its first membership fee hike since 2017. This move is seen as reflecting price pressures on consumers. Meanwhile, PepsiCo and Delta Air Lines reported earnings, setting the stage for big bank earnings in the second quarter.

Stay tuned for more updates as the market continues to react to economic data and corporate earnings.


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