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BoC & Fed Decision Day: TSX Rises to 36,171 as Chips Lift Wall Street

  Canada’s main stock index posted a second straight gain on Tuesday , with the S&P/TSX Composite rising 227.30 points, or 0.63%, to 36,171.49 as materials, gold miners and banks outweighed a slide in energy stocks. It sets up a crowded Wednesday: the Bank of Canada decides at 9:45 a.m. ET with markets pricing roughly a 75% to 85% chance of its first rate hike since July 2023, and the U.S. Federal Reserve follows at 2 p.m. ET. Canada: TSX Builds on Monday’s Rebound Materials jumped 3.2% and gold stocks gained 2.7%, while technology edged up 0.8%. Celestica rose nearly 12% after beating third-quarter revenue and profit estimates. The big banks climbed as Canadian bond yields eased: BMO gained 1.2%, CIBC 1.1% and Scotiabank 0.8%. Energy was the drag, falling 2.3% as crude slid. Cenovus Energy dropped 4.4% and Imperial Oil 4.2%. Consumer staples (-1.1%) and telecoms (-1.0%) also lagged. Trade headlines helped sentiment. Reuters reported that the U.S. and Canada are working on a ...
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South Korean Parliament Impeaches President Yoon Over Martial Law Decree

 

In a historic move, South Korea's parliament voted to impeach President Yoon Suk Yeol following his controversial martial law decree on December 3rd. The National Assembly passed the motion with a significant majority, 204-85. This decision came after Yoon's short-lived martial law order, which lasted only six hours before being unanimously overturned by parliament.

The impeachment motion was driven by allegations of rebellion and a violation of the constitution, as Yoon's decree was seen as an attempt to undermine democratic processes. Prime Minister Han Duck-soo will assume presidential duties while the Constitutional Court reviews the impeachment, a process that could take up to 180 days.

The impeachment has sparked widespread public reaction, with jubilant crowds celebrating outside the National Assembly. President Yoon, in a statement, vowed to continue serving the country despite the temporary suspension of his powers.


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