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Market Volatility: Stocks Flatten as Powell's Remarks Weigh on Gains

The stock market experienced a turbulent session on Wednesday, ultimately closing near flat after Federal Reserve Chair Jerome Powell's comments on monetary policy and inflation concerns. The S&P 500 ended nearly unchanged , giving back earlier gains as investors digested Powell’s remarks on the Fed’s stance regarding interest rates and economic restraint. Powell reiterated that the central bank remains cautious about inflation, particularly in light of tariff-driven price increases expected over the summer. While the Fed signaled that borrowing costs are likely to decline this year, the pace of future rate cuts appears to be slowing.  Following Powell’s speech, U.S. Treasury yields reversed their earlier declines , influencing market sentiment. The Dow Jones Industrial Average fell 43.83 points (0.10%) , while the Nasdaq Composite managed a slight gain of 23.66 points (0.12%).  Investors also kept a close eye on geopolitical developments, particularly tensions in the Midd...
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Canada’s Federal Budget Set for Fall Release, Says PM Carney

Prime Minister Mark Carney has announced that the Liberal government will table the federal budget this fall, opting for a more comprehensive approach rather than rushing a spring release. Speaking at a media conference in Rome, Carney emphasized that the delay would allow for a more ambitious and prudent financial plan.  

The decision comes amid criticism from opposition parties, who argue that the delay leaves Canadians uncertain about the country’s fiscal direction. Finance Minister François-Philippe Champagne previously stated that instead of a spring budget, the government would present a substantive fall economic statement, which functions as a mini-budget.  

Carney defended the move, citing the need for clarity on key economic issues, including defense spending and interprovincial trade barriers. He also highlighted the government’s immediate focus on passing a middle-class tax cut before Parliament adjourns for the summer.  

With nearly 400 days since the last federal budget, the fall release is expected to provide a detailed fiscal outlook and address pressing economic concerns. Canadians will be watching closely to see how the government navigates financial challenges in the months ahead.

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