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Wall Street Pauses as Oil Surges and Tesla Stumbles

  U.S. stocks stalled on Thursday as investors weighed a sharp rise in oil prices against a wave of fresh corporate earnings. Futures tied to the Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while the Nasdaq 100 also showed little movement. Energy markets took center stage after oil futures jumped more than 5% following new U.S. sanctions on Russian producers, pushing Brent crude toward $66 a barrel and West Texas Intermediate closer to $62. The surge added pressure to inflation concerns already weighing on Wall Street. On the corporate front, Tesla shares slipped over 3% in premarket trading after the electric vehicle maker posted mixed third-quarter results, disappointing investors and kicking off the “Magnificent Seven” earnings cycle. IBM stock also dropped about 7% , as stronger-than-expected profits were overshadowed by weaker software revenue. Traders are now awaiting results from American Airlines and T-Mobile , with Intel set to ...
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                                            Prime Minister Mark Carney

Prime Minister Mark Carney has unveiled an ambitious plan to double Canada’s non-U.S. exports within the next decade, declaring that the country must “play to win” in an increasingly uncertain global economy.

In a nationally televised address, Carney argued that Canada’s heavy reliance on the United States has become a vulnerability, particularly as U.S. tariffs on key industries such as autos, steel, and lumber continue to disrupt investment and threaten jobs. He warned that the era of deep economic integration with Washington is over, and that Canada must diversify its trade relationships to secure long-term prosperity.

The strategy, to be detailed in the upcoming federal budget, will focus on expanding trade with Europe, Asia, and emerging markets. Carney promised unprecedented levels of private-sector investment, backed by government measures to strengthen Canadian industries and reduce exposure to U.S. trade shocks.

“Fortune favours the bold,” Carney said, urging Canadians to embrace a more competitive and outward-looking economic vision.

Analysts note that while the goal is ambitious, success will depend on Canada’s ability to negotiate new trade agreements, support exporters, and adapt to shifting global supply chains.


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