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Wall Street Pauses as Fed Meeting Looms: Futures Hold Steady

U.S. stock futures were little changed on Tuesday as investors awaited the start of the Federal Reserve’s final policy meeting of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all hovered near flat, reflecting a cautious mood across Wall Street. The Fed is widely expected to keep interest rates unchanged, but traders are focused on Chair Jerome Powell’s comments and the central bank’s updated economic projections. Markets are looking for clues on when rate cuts might begin in 2024, with inflation cooling but still above the Fed’s long-term target. Recent gains in equities have been fueled by optimism that the Fed’s tightening cycle is over, yet uncertainty remains about how quickly monetary policy will shift toward easing. Until then, investors appear content to hold their positions, waiting for clearer signals from the Fed before making bold moves.
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Trump Threatens Economic Sanctions on Canada

 

In a dramatic return to the Oval Office, U.S. President Donald Trump has announced his intention to impose significant tariffs on Canada and Mexico. Trump, who was inaugurated for his second term just a day ago, stated that he plans to implement a 25% tariff on Canadian and Mexican goods starting February 1.

This announcement has sent shockwaves through the political and economic landscape, with Canadian leaders scrambling to respond. Ontario Premier Doug Ford emphasized the need for unity among Canadian provinces to confront Trump's aggressive trade policies. Meanwhile, Alberta Premier Danielle Smith has expressed reluctance to fully support federal retaliation plans, citing concerns over Alberta's energy sector.

The proposed tariffs are part of a broader series of executive actions by Trump, which include withdrawing from the Paris climate accord and the World Health Organization, as well as threatening military action against drug cartels in Mexico. The situation remains fluid, with both countries bracing for potential economic fallout.


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