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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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Strengthening Ties: U.S. Secures Historic Investment and Defense Deal with Saudi Arabia

In a landmark agreement, the United States has secured a $600 billion investment pledge from Saudi Arabia, alongside a $142 billion arms package, marking one of the most significant economic and defense partnerships between the two nations. 

During his Gulf tour, President Donald Trump met with Saudi Crown Prince Mohammed bin Salman in Riyadh, where they signed agreements covering energy, defense, mining, and technology. The investment aims to bolster U.S. industries while strengthening Saudi Arabia’s economic diversification efforts. 

The arms package, described as the largest defense cooperation deal in U.S. history, includes contracts with major American defense firms specializing in air and missile defense, aerospace, maritime security, and military communications. 

Trump, accompanied by top U.S. business leaders, will continue his tour with stops in Qatar and the United Arab Emirates, focusing on further economic collaborations. The agreement underscores the deepening strategic ties between the two nations, with Saudi Arabia committing to expand its investments to $1 trillion in the coming months. 

This historic deal is expected to create thousands of jobs in the U.S. while reinforcing Saudi Arabia’s position as a key ally in the region.

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