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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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Canada Strikes Back: Tariffs on U.S. Vehicles Escalate Trade Tensions

 

Canada is set to impose tariffs of up to 25% on vehicles imported from the United States starting Wednesday, marking a significant escalation in the ongoing trade conflict between the two nations. The tariffs will apply to vehicles that do not comply with the Canada-United States-Mexico Agreement (CUSMA) standards, as well as the non-Canadian and non-Mexican content of CUSMA-compliant vehicles.

This move comes in response to the U.S.'s recent decision to impose similar tariffs on Canadian automobiles, disrupting the longstanding economic partnership between the two countries. Canadian Prime Minister Mark Carney described the U.S. tariffs as "unjustified" and emphasized Canada's commitment to protecting its industries and workers.

The Canadian government has also announced plans to reinvest revenue from the tariffs into relief programs for affected industries and workers. Analysts predict that Ontario, home to Canada's largest manufacturing sector, may experience economic repercussions if trade tensions persist.

As the trade war intensifies, both nations face mounting pressure to negotiate a resolution that safeguards their shared economic interests. The coming weeks will be crucial in determining the future of this strained relationship.

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