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Wall Street Edges Higher as Fed Rate Cut Decision Looms

U.S. stock futures were mixed but leaning higher on Monday as investors braced for a pivotal Federal Reserve policy meeting later this week. The Dow Jones Industrial Average futures rose about 0.2%, S&P 500 futures held near flat, and Nasdaq 100 futures dipped slightly after the tech-heavy index notched a fresh record last week. The rally has been fueled by growing expectations that the Fed will cut interest rates on Wednesday, with traders pricing in a 96% chance of a quarter-point reduction and a slim possibility of a larger 50-basis-point move. A cooling labor market — with unemployment at 4.3% and job growth slowing — has strengthened the case for policy easing. Tech stocks remain in focus, with Nvidia sliding over 2% after China’s antitrust regulator said the chipmaker violated competition laws. The news comes amid high-level U.S.-China trade talks in Madrid, adding a layer of geopolitical uncertainty to market sentiment. Despite the cautious tone, optimism around artifici...
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Crombie Steps Down: Ontario Liberals Head to Third Leadership Race in Five Years

 

In brief remarks after the results were announced, Ontario Liberal Leader Bonnie Crombie said it's "not the finish line" for her.


Ontario Liberal Leader Bonnie Crombie has announced she will resign after receiving only 57% support in a mandatory leadership review at the party’s annual general meeting. While the result was technically enough to keep her position under party rules, the narrow margin fell short of the two-thirds backing many members felt was necessary for a strong mandate.

Crombie, who took the helm in late 2023 after serving as Mississauga’s mayor, initially vowed to stay on, arguing that a leadership race now would harm the party. However, just hours later, she reversed course, saying the decision was “more important than ego” and that an orderly transition was in the party’s best interest.

Her resignation comes after a February election in which the Liberals increased their seat count from nine to 14, regaining official party status but failing to secure Official Opposition. Crombie herself did not win a seat in the legislature, a point of contention among some caucus members.

Premier Doug Ford thanked Crombie for her years of public service, while party insiders acknowledged the move clears the way for a fresh leadership contest — the Liberals’ third since 2020. Details on the race are expected in the coming weeks.


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