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Tech Jitters and Fed Uncertainty Weigh on Markets

U.S. stocks slipped as a pivotal week began, with investors bracing for a wave of Big Tech earnings and the Federal Reserve’s upcoming policy decision. The Dow, S&P 500, and Nasdaq all edged lower, reflecting a cautious mood across markets. The pullback follows a choppy stretch for equities, as major indexes have struggled to regain momentum amid shifting expectations for interest‑rate cuts and ongoing geopolitical concerns. Tech stocks, in particular, have been under pressure after consecutive weekly declines, raising the stakes for earnings reports from industry giants. Apple, Microsoft, Meta, and Tesla are all set to report in the coming days, and their results could determine whether the sector reclaims leadership or continues to drag on broader market performance. With the Fed meeting approaching, traders are looking for clarity on the central bank’s rate‑cut timeline. Until then, many appear content to stay on the sidelines as uncertainty hangs over the week ahead.
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Federal Immigration Department Announces Major Job Cuts


Two federal public service unions have revealed that the Immigration Department is set to cut over 3,300 jobs over the next three years. The Public Service Alliance of Canada (PSAC) and the Canada Employment and Immigration Union issued a joint statement expressing concern over the lack of information regarding who will be affected by the cuts.

The unions emphasized that the department's staff are essential for processing citizenship and permanent residency applications, issuing passports, and conducting interviews. They urged the government to reduce outside contracting instead of downsizing staff.

The job cuts are part of the government's broader effort to refocus federal spending, which has been ongoing since 2023. The unions are calling for transparency and a reconsideration of the cuts, highlighting the potential impact on the department's ability to fulfill its duties.

Affected employees are expected to be notified in mid-February, with letters being sent out to those impacted. The unions continue to advocate for their members and push for alternative solutions to achieve budgetary goals.



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