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Markets Rebound as U.S. Ceasefire Proposal to Iran Sparks Investor Optimism

  U.S. stock futures surged early Wednesday as reports of a U.S.-backed ceasefire proposal to Iran boosted market sentiment and pushed oil prices sharply lower. Investors reacted positively to signs of potential de‑escalation in the Middle East, lifting Dow, S&P 500, and Nasdaq futures after a volatile week. U.S. stock futures climbed on Wednesday following reports that Washington sent Iran a 15‑point ceasefire plan aimed at halting the ongoing conflict in the Middle East. The development injected cautious optimism into global markets, which have been rattled by geopolitical tensions in recent weeks.  Futures tied to the Dow Jones Industrial Average and S&P 500 rose around 1% , while Nasdaq 100 futures jumped more than 1% , reversing some of the previous session’s losses. The shift in sentiment was amplified by a sharp retreat in oil prices— WTI crude fell over 5% , easing inflation concerns and improving the outlook for corporate margins.  The reported ceasef...
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Boxing Day Sales See Smaller Crowds Despite GST Break

 

Retailers across the country experienced smaller crowds and cautious spending on Boxing Day this year, despite the federal government's GST holiday. While the tax break, which makes a variety of items GST-free for two months, did attract some shoppers, many consumers remained hesitant due to ongoing cost of living concerns.

Shoppers at Fairview Mall in Toronto, like Nakul Singal, took advantage of the deals but expressed that the tax break alone wasn't enough to offset the high costs of living**. Singal mentioned, "It's good to shop around during this time, but we're still struggling with expenses, especially housing.

Retail Council of Canada's Matt Poirier noted that businesses faced challenges implementing the tax break on short notice, and some older payment systems struggled to adapt.  An RBC Economics report also indicated that retail spending slowed in November, with holiday spending slightly below 2023 levels over the Black Friday weekend.

Despite these challenges, some retailers, like GameStop in north Toronto, saw an influx of customers eager to benefit from the tax holiday. Assistant store manager Joey Comia-Orellano said, "We've been getting shoppers before Boxing Day, and we expect it to get busier as consumers look to save with Boxing Day deals combined with the tax break."

Overall, while the GST break provided some relief, it wasn't enough to fully counteract the economic pressures faced by many Canadians.




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