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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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High Stakes in Ottawa as Carney Prepares First Federal Budget

 

                                            Prime Minister Mark Carney

The House of Commons reconvenes Monday, setting the stage for Prime Minister Mark Carney’s first major political test: delivering a federal budget that balances fiscal restraint with ambitious investment.

The fall sitting will mark Carney’s first face-off in Parliament with Conservative Leader Pierre Poilievre since the Tory leader’s return via an Alberta byelection. While the Liberals prepare to unveil their October budget, Carney has promised a dual approach of “austerity” and “investment” — trimming operational spending while channeling funds into economic growth projects and ramping up defence commitments.

The budget is expected to reflect the government’s response to mounting economic pressures, including the ongoing trade dispute with the United States, rising deficits, and calls for accelerated housing construction. Finance Minister François-Philippe Champagne has pledged to split the budget into capital and operational spending, with the goal of balancing the latter within three years.

Opposition parties are sharpening their focus on cost-of-living concerns, crime, and immigration, while the NDP — reduced to seven MPs — navigates a leadership race. With a minority government in place, Carney will need cross-party support to pass his fiscal plan, making the coming weeks a critical test of both policy and political strategy.


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