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Tech Surge Lifts Nasdaq as Inflation and Bank Earnings Weigh on Dow

  U.S. stocks traded mixed on Tuesday as investors digested fresh inflation data and the kickoff of bank earnings season. The Nasdaq Composite jumped 0.8% , powered by a rally in semiconductor stocks, while the Dow Jones Industrial Average slipped 0.3% amid concerns over rising prices and uneven financial sector results. Key Drivers: Nvidia (NVDA) soared nearly 5% after announcing plans to resume AI chip sales to China, following a green light from the U.S. government. The move sparked a broader rally in chipmakers, with AMD and Micron also posting strong gains. The Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in June, signaling a slight acceleration in inflation. Core CPI, excluding food and energy, climbed 2.9% annually. Bank earnings painted a mixed picture: JPMorgan and Citigroup beat expectations, while Wells Fargo fell short, cutting its net interest income forecast. BlackRock also reported record assets under management but saw its ...
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Ontario Colleges on Edge as Faculty Strike Looms

Faculty staff at Ontario’s public colleges are poised to take strike action as early as January 9th, following a five-day labour notice issued by the Ontario Public Service Employees Union (OPSEU). The union, representing faculty workers at the province’s 24 public colleges, has cited stalled contract talks and lack of job security as the primary reasons for the potential strike.

Despite months of negotiations, the College Employer Council (CEC) and OPSEU have yet to reach an agreement. The union claims that the CEC’s current offer would leave faculty members worse off than their previous contract, which expired three months ago. The CEC, on the other hand, argues that the union’s demands are unrealistic given the financial instability faced by Ontario’s colleges.

The potential strike comes at a challenging time for Ontario’s college sector, which has already seen a significant drop in international student enrollment and funding cuts. The union is urging the CEC to enter mediation with more realistic demands to avoid an unnecessary strike.

As the situation unfolds, both parties remain committed to finding a resolution, but the looming strike date adds urgency to the negotiations.




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