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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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Wall Street Futures Edge Higher as November Opens With AI Momentum and Fed Watch

 


As November trading begins, U.S. stock futures are showing modest gains, extending the rally that carried markets through October. S&P 500 futures rose about 0.3%, Nasdaq 100 futures climbed 0.6%, and Dow Jones Industrial Average futures added 0.1%. The upbeat start reflects investor optimism around strong corporate earnings, enthusiasm for AI-driven growth, and expectations for Federal Reserve policy clarity.

October was a strong month for equities: the S&P 500 gained 2.3%, the Dow advanced 2.5%, and the Nasdaq surged 4.7%, marking its seventh consecutive month of gains. Much of this momentum was fueled by Big Tech and the so-called “Magnificent Seven” stocks, which continue to attract investors betting on AI’s transformative potential.

At the same time, macroeconomic uncertainty lingers. The ongoing U.S. government shutdown has delayed key economic data releases, including the monthly jobs report, leaving traders with fewer signals to gauge the economy’s strength. Additionally, the Supreme Court is preparing to hear arguments on the legality of sweeping tariffs, a development that could influence trade policy and market sentiment.

Looking ahead, earnings season remains in full swing, with hundreds of S&P 500 companies still set to report results. Investors are also closely watching the Federal Reserve, as policymakers weigh the balance between inflation control and sustaining economic growth.

In short, Wall Street is entering November with cautious optimism: strong tech earnings and AI enthusiasm are driving gains, but political and economic uncertainties remain in focus.


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