Skip to main content

Featured

Markets Today: TSX Notches a Fourth Straight Record as Cooling Inflation Lifts Wall Street

  August 13, 2026 The TSX closed at a record high for the fourth straight session on Wednesday as an in-line U.S. inflation reading calmed fears of a Federal Reserve rate hike next month, and futures point to more gains today. Oil is pulling back after a five-session climb, gold is sitting near two-month highs, and the loonie is holding close to an eight-week high — all while the clock ticks down on Ottawa's Aug. 19 tariff deadline. The 60-second version: Cooling U.S. CPI (3.4% annual, in line with forecasts) pushed Fed rate-hike odds for September down to roughly 36% from 48% a day earlier. The TSX closed at 36,662.14, Wall Street sits just below record territory, and Asian and European markets are following through higher this morning. Oil has eased toward $82–88 a barrel and gas prices should hold steady to slightly lower. Canada is still 6 days from the Aug. 19 tariff deadline, and as of this morning, Ottawa says the latest U.S. offer isn't good enough. TSX: Fourth Straigh...
Post a Comment
Read more

article

Labels

Trump Selects Ex-Soros Fund Manager Scott Bessent as Treasury Secretary

 

Former President Donald Trump has named Scott Bessent, a former chief investment officer for George Soros’s fund management, as his choice for Treasury Secretary in his 2024 presidential campaign’s proposed Cabinet. The unconventional pick has raised eyebrows among both Trump loyalists and critics, given Bessent’s past association with the billionaire financier frequently criticized by Trump and conservative circles.

Bessent, who later founded Key Square Group, a successful hedge fund, is widely regarded as a savvy investor with deep expertise in global markets. Trump’s campaign praised Bessent’s financial acumen, citing his ability to navigate complex economic landscapes and his potential to steer U.S. economic policy effectively.

While some Trump allies have expressed concerns over Bessent’s ties to Soros, others see the appointment as a strategic move to bring proven financial expertise to the administration. “Scott’s track record speaks for itself,” a Trump campaign spokesperson said, “and his knowledge of global markets will be invaluable in revitalizing the American economy.”

Critics, however, have questioned whether Bessent’s Wall Street background aligns with Trump’s populist rhetoric and his "America First" economic agenda.

If confirmed, Bessent would take on significant challenges, including managing inflation, addressing debt concerns, and navigating the ongoing shifts in global trade dynamics.


    Labels:

    Comments

    Post a Comment