U.S. stocks edged lower as investors navigated a mix of rising oil prices, corporate earnings signals, and shifting expectations around Federal Reserve policy. The Dow, S&P 500, and Nasdaq all turned down after early gains, reflecting a market grappling with geopolitical tensions and inflation concerns. Indexes Pull Back All three major indexes slipped roughly between 0.3% and 0.6%, giving back some of the previous session’s momentum. The downturn followed renewed volatility in energy markets and cautious sentiment around consumer spending. Oil Prices Add Fresh Pressure Crude prices extended their sharp rally, driven by heightened worries over a potential U.S.–Iran conflict. Brent crude climbed above $71 per barrel, while West Texas Intermediate hovered near $66 — its biggest daily jump since October. Rising energy costs revived inflation concerns and weighed on equities. Walmart Earnings in Focus Walmart posted stronger‑than‑expected results, but its cautious pro...
Ontario Liberal MPs Urge Trudeau to Resign Amidst Internal Turmoil
In a recent virtual meeting, over 50 Ontario Liberal MPs reached a consensus that Prime Minister Justin Trudeau should step down as party leader. This decision comes in the wake of Chrystia Freeland's dramatic resignation from her cabinet positions, which has intensified calls for Trudeau's departure.
Freeland's resignation letter, posted on social media, highlighted her disagreements with Trudeau and warned against "costly political gimmicks" that could harm the country. Her departure has prompted several Liberal MPs to publicly support her potential leadership bid.
As the Ontario Liberal caucus chair, Michael Coteau, was tasked with communicating the MPs' decision to Trudeau, the prime minister is now believed to be reflecting on his political future. The situation remains fluid, with MPs expressing varying opinions on how long Trudeau should be given to consider his next steps.
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