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Canada’s Inflation Climbs to 2.4% as Gas Prices Surge to Record High

  Canada’s inflation rate accelerated to 2.4% in March , up from 1.8% in February, as the Iran war triggered the largest monthly gasoline price increase on record . Statistics Canada reported that gas prices surged 21.2% month‑over‑month , a supply‑shock response to Iran’s closure of the Strait of Hormuz and broader Middle East instability.  Energy costs were the dominant driver of March inflation, with overall energy prices rising 3.9% year‑over‑year after a sharp decline the month before. Excluding gasoline, inflation would have eased to 2.2% , highlighting how concentrated the price shock was.  Food inflation offered mixed relief: grocery prices rose 4.4% , while fresh vegetables jumped 7.8% due to difficult growing conditions. Restaurant inflation cooled sharply as last year’s tax‑holiday distortions fell out of the annual comparison.  Economists note that while headline inflation spiked, core measures remained relatively tame , giving the Bank of Canada ro...
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Tech Titans Spark Market Surge Amid Trade Optimism

 


Wall Street Rallies on Big Tech Earnings and Trade Breakthroughs

The stock market soared Thursday morning as strong earnings from Big Tech giants and promising trade developments lifted investor sentiment. Futures for the Nasdaq 100 jumped 1.3%, while the S&P 500 rose nearly 1%, both eyeing fresh record highs. The Dow Jones Industrial Average futures lagged slightly, gaining 0.3%.

Big Tech Leads the Charge

  • Meta Platforms surged 12% in premarket trading after beating earnings expectations and offering robust guidance, despite ramping up AI investments.
  • Microsoft climbed over 8%, inching closer to a $4 trillion market valuation following stellar quarterly results.
  • Investors now await earnings from Apple and Amazon to see if the rally can sustain momentum.

Trade Deals Ease Global Tensions

  • A new pact with South Korea includes a 15% tariff on imports and zero duties on U.S. exports, alongside a $350 billion investment commitment from Seoul.
  • President Trump and European Commission President Ursula von der Leyen also announced a handshake agreement, though details remain murky.

Fed Watch and Economic Indicators

  • The Federal Reserve held interest rates steady for the fifth consecutive meeting, with Chair Jerome Powell emphasizing that no decisions have been made regarding a September rate cut.
  • Investors are closely watching the release of the Personal Consumption Expenditures (PCE) index for clues on inflation and future monetary policy.

With tech earnings exceeding expectations and trade tensions easing, markets are riding a wave of optimism. Whether this momentum holds will depend on upcoming earnings reports and macroeconomic data.


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