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Wall Street Futures Surge as Fed Hints at More Cuts, Nvidia’s $5B Intel Bet Lifts Tech

  U.S. stock futures climbed on Thursday, with the Nasdaq leading gains, after the Federal Reserve cut interest rates by 0.25 percentage points and signaled two more reductions could follow in 2025. Dow Jones Industrial Average futures rose 0.7%, S&P 500 futures gained 0.8%, and Nasdaq 100 futures jumped 1.2%, buoyed by a sharp rally in tech stocks. Intel shares surged nearly 30% in premarket trading after Nvidia announced a $5 billion investment in the struggling chipmaker, though the deal stops short of a manufacturing partnership. The Fed’s move, aimed at supporting a slowing economy amid high inflation and a weakening labor market, initially sparked caution, but optimism returned as investors bet on a more accommodative policy path. If gains hold, the S&P 500 is set to open above 6,700 for the first time, extending September’s unexpected rally. Traders are now watching weekly jobless claims for further clues on the labor market, while corporate earnings — including ...

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Liberal Leader Slams Ford Over Rezoning Scheme Scandal

 

Ontario Liberal Leader Bonnie Crombie has fired a salvo at Progressive Conservative Premier Doug Ford amid a new lawsuit alleging misconduct by former government staffers in a controversial rezoning scheme.

The lawsuit, filed in a Toronto court by property owner Amanpreet Jakhar and two numbered companies, seeks approximately $2.2 million in damages. It accuses former staffers Ryan Amato and Shiv Raj—and the developer Frontier Group—of promising to leverage “backchannel contacts” and political connections to secure rezoning approvals for lucrative properties. According to the claim, the men misled investors by accepting monthly payments of $55,600 plus tax, all the while failing to make any serious effort to rezone the land.

At a recent campaign event, Crombie did not mince words. “It’s outrageous but not surprising,” she declared, using the lawsuit as further evidence of what she described as a long-standing culture of backroom deals and questionable ethics within Ford’s administration. Crombie argued that the scandal underscores the need for greater transparency and accountability in government, insisting that such practices have repeatedly compromised Ontario’s political integrity.

Premier Ford, meanwhile, has denied any involvement in the matter. At a campaign event earlier this week, he claimed to have “never heard of this” and insisted that anyone found to be engaging in such “background dealing” would be terminated immediately. His spokesperson reiterated that the province is not involved in the lawsuit and that any wrongdoing will be dealt with swiftly in court.

As Ontario heads toward another election, this latest legal battle is set to intensify scrutiny of Ford’s government, adding another chapter to a series of controversies that include previous allegations linked to the Greenbelt scandal and the use of ministerial zoning orders. Both sides now brace for what could be a protracted legal and political showdown in the weeks ahead.

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