Skip to main content

Featured

Daily Markets Update: Hot U.S. CPI Rattles Tech, Kospi Crashes 7.6%, TSX Slides 1.1% (Oct. 15)

  Thursday, October 15, 2026 | Canadian Money Brief | Daily Markets Update A hotter-than-expected U.S. inflation report turned Wednesday into a risk-off day, and the damage spread overnight to Asia, where South Korea's Kospi crashed 7.6% and triggered a market-wide circuit breaker. Here is where Canada, the U.S. and the world's other major markets stand this morning. Today's Headlines U.S. CPI hit 3.7% in September (3.6% expected, 3.4% in August), with core inflation at 2.6%. The Nasdaq fell 1.88% and the S&P 500 lost 1.11%. The TSX fell 1.11% to 35,584.46 , ending a three-day winning streak as materials plunged 4.33%. Asia sold off hard on AI valuation fears: Kospi -7.57% (seventh straight loss), Nikkei -4.90%. The loonie sits near an 18-month low at about 70.1 US cents as Fed-hike bets rise. Brent closed at US$106.06 and gold slid to a one-week low near US$4,084. Canada: TSX Ends Three-Day Win Streak The S&P/TSX Composite Index fell 399.52 points, or 1.11%, to...
Post a Comment
Read more

article

Labels

Senate Narrowly Advances Trump’s Sweeping Tax and Spending Bill in High-Stakes Weekend Vote

 

In a rare and dramatic Saturday session, U.S. Senate Republicans narrowly advanced President Donald Trump’s sweeping tax and spending bill, dubbed the “One Big Beautiful Bill Act,” setting the stage for a high-stakes legislative showdown ahead of the July 4th deadline.

The 940-page bill, which includes approximately $3.8 trillion in tax cuts, passed a key procedural vote 51-49, with Vice President JD Vance on standby to break a potential tie. Two Republican senators—Thom Tillis of North Carolina and Rand Paul of Kentucky—joined all Democrats in opposition, citing deep concerns over proposed Medicaid cuts.

The legislation proposes making Trump-era tax breaks permanent, eliminating taxes on tips and overtime pay, and introducing new deductions for seniors and families. However, it also includes controversial provisions such as stricter work requirements for Medicaid recipients and significant reductions in food assistance programs.

Tensions ran high in the chamber, with negotiations dragging for hours and several GOP senators flipping their votes after last-minute concessions. President Trump, who spent the day at his Virginia golf course, reportedly worked the phones late into the night to rally support.

The bill now heads into a marathon amendment process, with Senate leaders hoping to finalize it in time for Independence Day. If passed, it would return to the House for a final vote before reaching the president’s desk.


Labels:

Comments

Post a Comment