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Alberta Stands Alone: Refuses to Sign Joint Statement on Trump Tariffs

  In a surprising turn of events, Alberta has refused to sign a joint statement from the first ministers' meeting regarding the Trump administration's proposed tariffs on Canadian goods. Premier Danielle Smith, who attended the meeting virtually, stated that Alberta cannot support the federal government's plan if it includes energy export tariffs.  The meeting, chaired by Prime Minister Justin Trudeau, aimed to present a united front against the U.S. tariff threats. However, Smith's refusal to sign the statement has highlighted the province's unique concerns about the potential impact on its energy sector. Alberta's oil and gas industry, which is Canada's largest export to the U.S., could face significant financial pressure if the tariffs are implemented. Smith emphasized that Alberta will take whatever actions are necessary to protect its economy and the livelihoods of its residents. This stance has sparked a debate among the premiers, with some urging unit...
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Wall Street Holds Steady After Breaking Losing Streak

 

Wall Street markets remained essentially flat on Tuesday, following a day of gains that ended a prolonged losing streak. Investors are closely monitoring a series of corporate earnings reports and upcoming government economic data.

Market Performance:

  • S&P 500 and Dow Jones Industrial Average futures both edged up less than 0.1% before the market opened.
  • UPS shares fell 8% after missing sales and profit targets, despite an increase in package delivery volume.
  • General Motors saw a 2.5% rise in shares after surpassing analysts’ expectations.
  • Coca-Cola shares increased by 1.5% following a positive earnings report and an improved full-year sales outlook.

Economic Indicators:

  • Investors are awaiting the latest data on existing home sales, which have been impacted by high interest rates.
  • Later this week, the government will release its first estimate for second-quarter GDP and an important inflation reading. A lower inflation reading could prompt the Federal Reserve to consider cutting its benchmark rate, which is currently at its highest level in over two decades.

Global Markets:

  • In Asia, Tokyo’s Nikkei 225 closed nearly unchanged, while Chinese markets experienced declines due to investor skepticism over recent policy decisions.

As the week progresses, market participants will continue to focus on corporate earnings and economic data to gauge the health of the economy and the potential direction of monetary policy.


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