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Wall Street Futures Edge Higher as Soft Jobs Data Fuels Rate-Cut Hopes

  US stock futures ticked upward on Wednesday, extending Wall Street’s rebound as investors digested a weaker-than-expected ADP employment report. The data showed a surprise decline in private-sector payrolls, reinforcing expectations that the Federal Reserve may move forward with an interest rate cut at its upcoming December meeting. Market Performance Dow Jones Industrial Average futures rose about 0.2%, adding 80 points to 47,624. S&P 500 futures gained 9.25 points to 6,849.50, up 0.14%. Nasdaq 100 futures advanced 25.50 points to 25,631.50, a 0.10% increase. Key Drivers The ADP jobs report revealed a drop in private-sector employment, signaling cooling labor market conditions. This bolstered investor confidence that the Fed will ease monetary policy, with markets pricing in nearly 88% odds of a rate cut next week. Tech stocks continued to provide momentum, with Nvidia and Marvell edging higher. Crypto-linked stocks surged, with PMAX up 67%, CMCT up 30%, a...
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Trudeau Set to Announce Temporary GST Break on Essential Items

 

Prime Minister Justin Trudeau is expected to announce a temporary GST break on essential items, responding to affordability pressures faced by Canadians. This announcement, anticipated on Thursday, comes after demands from the New Democratic Party (NDP) for more substantial and permanent tax relief measures.

NDP Leader Jagmeet Singh has stated that while the temporary GST break is a step in the right direction, it falls short of the permanent relief his party has been advocating for. The GST break is part of a broader multi-billion-dollar package aimed at providing immediate financial relief to families struggling with rising costs.

The temporary suspension of the GST will apply to a range of essential items, including certain grocery products, children’s clothing, and other necessities. This measure is expected to take effect before the holiday season, offering some respite to Canadians during a time of increased financial strain.

The announcement is seen as a strategic move by the Liberal government to address growing public dissatisfaction and to break the legislative gridlock that has recently paralyzed the House of Commons. The NDP has indicated their support for the measure, which could help expedite its passage through Parliament.


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