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Markets Soar to Record Highs as Loonie Rebounds Amid Trade Optimism

North American stock markets kicked off July with a bang, as the TSX, S&P 500, and Nasdaq all closed at record highs  on Monday, buoyed by strong tech performance and renewed optimism around global trade negotiations. The S&P 500 rose 0.52% to 6,204.95 , while the Nasdaq climbed 0.48% to 20,369.73 , both notching fresh all-time highs. The Dow Jones Industrial Average added 275 points , closing at 44,094.77. Canada’s TSX Composite Index also surged , reflecting investor confidence in the domestic economy and easing geopolitical tensions. Driving the rally were heavyweight tech stocks like Nvidia, Meta, and Microsoft, which continued to benefit from investor enthusiasm around artificial intelligence and digital transformation. The momentum was further supported by Canada’s decision to scrap its digital services tax, a move seen as a goodwill gesture to advance trade talks with the U.S.. Meanwhile, the Canadian dollar (loonie) rebounded  from last week’s dip, recovering g...
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Market Caution: U.S. Stock Futures Dip Ahead of Fed Commentary

U.S. stock futures edged lower on Tuesday morning as investors awaited key commentary from Federal Reserve officials. The market is closely watching for insights into the central bank’s policy stance, particularly in light of the recent downgrade of the U.S. sovereign credit rating.

At least seven Fed officials, including St. Louis Fed President Alberto Musalem, are expected to speak throughout the day. Analysts anticipate a divide between hawkish officials supporting a cautious approach and dovish voices emphasizing recent soft inflation data and ongoing trade uncertainties.

Traders currently expect at least two 25-basis-point rate cuts by the end of the year, with the first anticipated in September. Meanwhile, major stock indices showed slight declines in premarket trading, with the Dow E-minis down 0.15%, the S&P 500 E-minis falling 0.33%, and the Nasdaq 100 E-minis dropping 0.45%.

The market remains sensitive to concerns about ballooning U.S. debt, particularly following Moody’s downgrade of the country’s credit rating due to its $36-trillion outstanding debt. Investors will be looking for reassurance from Fed officials as they navigate these uncertain economic conditions.

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