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Futures Slip as Geopolitical Tensions Overshadow Strong Bank Earnings

  US stock futures edged lower as investors balanced upbeat bank earnings against rising geopolitical unease tied to escalating tensions involving Iran. Contracts tied to the Dow, S&P 500, and Nasdaq all traded in the red, signaling a cautious start to the trading day. Major banks delivered solid quarterly results, with strong trading revenue and resilient consumer activity helping lift sentiment in the financial sector. Yet the optimism was tempered by concerns that potential US responses to developments in Iran could inject fresh volatility into global markets. Energy prices climbed as traders braced for possible disruptions. The pullback comes at a moment when investors are already navigating a crowded landscape of economic data, inflation readings, and policy uncertainty. With markets on edge, even strong corporate performance wasn’t enough to counter the broader risk-off mood.
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Jagmeet Singh Steps Down as NDP Leader Amid Electoral Defeat


In a significant political development, Jagmeet Singh has announced his resignation as the leader of the New Democratic Party (NDP) following a disappointing performance in the 2025 federal election. Singh, who represented the Burnaby Central riding, faced a tough electoral battle and ultimately lost his seat. This marks a turning point for the NDP, which is projected to lose its official party status after a dramatic decline in parliamentary representation.

During an emotional concession speech, Singh expressed gratitude to his supporters and reflected on his tenure as leader. "It’s been the honour of my life to represent the people of Burnaby Central," he said, acknowledging the challenges faced by the party and its candidates. Singh also emphasized the importance of continuing to fight for a fairer and more compassionate Canada.

Singh's leadership began in 2017, and he made history as the first person of an ethnic minority to lead a major Canadian political party. Despite early successes, including policy wins like pharmacare and dental care, the NDP struggled to maintain voter support in recent years. The party's decision to end its alliance with the Liberals in 2024 did not yield the anticipated electoral gains, leaving the NDP vulnerable to a resurgent Conservative Party and a Liberal Party under new leadership.

As the NDP prepares for a leadership transition, Singh's departure signals the end of an era. The party now faces the challenge of rebuilding its base and regaining its footing in Canadian politics.


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