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Wall Street Eyes Weekly Gain as Peace Hopes Lift Futures

  Wall Street Poised for Weekly Gain as Futures Climb on Middle East Peace Hopes Wall Street looked set to close the week on a positive note as U.S. equity futures climbed Friday, supported by renewed optimism that diplomatic progress in the Middle East could ease geopolitical tensions. Investors have been highly sensitive to any signs of de‑escalation, and this week’s developments helped unwind some of the risk premiums that had weighed on global markets. Oil prices, which surged earlier in the month on fears of supply disruptions, pulled back again as ceasefire discussions gained traction. Lower energy costs have helped cool inflation expectations, giving markets a bit more breathing room after a volatile stretch. Major U.S. indexes are now on track for a weekly gain, with tech and consumer stocks leading the rebound. Still, analysts caution that sentiment remains fragile: any setback in negotiations could quickly revive market turbulence. For Canadian investors, easing oil v...
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Trump Halts U.S.-Canada Trade Talks Over Digital Services Tax Dispute

In a dramatic escalation of trade tensions, U.S. President Donald Trump announced Friday that his administration is terminating all trade negotiations with Canada, citing Ottawa’s new digital services tax as the catalyst for the decision.

The tax, which imposes a 3% levy on revenues earned from digital services such as online advertising, social media platforms, and the sale of user data, is set to take effect on June 30. It targets large tech firms with significant Canadian user bases—many of which are American giants like Google, Meta, and Amazon.

Calling the tax “a direct and blatant attack on our country,” Trump posted on Truth Social that Canada is “a very difficult country to trade with” and accused it of mimicking the European Union’s approach to taxing digital services.

The move threatens to disrupt a trade relationship valued at over $760 billion annually. Trump also warned that new tariffs on Canadian exports would be announced within a week, further straining economic ties between the two nations.

Canadian Prime Minister Mark Carney has yet to issue a formal response, but the decision is expected to have ripple effects across industries, particularly in technology, automotive, and energy sectors.

This latest development marks a sharp turn in U.S.-Canada relations, reigniting trade friction that had cooled in recent years.

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