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Ontario Halts U.S. Electricity Surcharge Amid Trade Tensions

  Ontario Premier Doug Ford has announced the suspension of a 25% surcharge on electricity exports to three U.S. states—Michigan, New York, and Minnesota—following a diplomatic overture from the White House. The surcharge, introduced just a day earlier, was Ontario's response to U.S. President Donald Trump's decision to double tariffs on Canadian steel and aluminum to 50%. The decision to pause the surcharge came after U.S. Commerce Secretary Howard Lutnick extended an "olive branch" by inviting Ford and Canadian Finance Minister Dominic LeBlanc to Washington for discussions on trade. The meeting, scheduled for Thursday, aims to address the escalating trade tensions and explore a renewal of the Canada-United States-Mexico Agreement (CUSMA). Ford emphasized the importance of diplomacy, stating, "When someone's putting out an olive branch, we sit back, we accept it—graciously, by the way—and let's start moving." While the U.S. has yet to retract its ta...
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Stock Market Update: Steady Futures Aim to Extend Records


U.S. stock futures remained stable early Monday as investors geared up for a consequential week that could provide key signals for the near-term path of interest rates. Here are the highlights:

  • S&P 500 and Nasdaq Records: The S&P 500 and tech-heavy Nasdaq Composite are looking to build on their latest records secured in the wake of Friday’s jobs report, which signaled continued cooling in the labor market. This prompted an influx of bets on a September rate cut from the Federal Reserve. About three-in-four traders expect a cut in September.

  • Upcoming Events: Keep an eye on several events this week:

    • Fed Chair Testimony: Fed Chair Jerome Powell is set to appear in Congress for semiannual testimony on Tuesday and Wednesday.
    • Consumer Price Index (CPI): The latest CPI print is scheduled for release on Thursday. Economists expect headline inflation to have risen 3.1% over the last year, matching the lows where the CPI started the year.
    • French Election Results: A left-wing coalition in France garnered the most votes in the country’s election, stunning the far-right that was hoping to secure a parliamentary majority. The benchmark French index rose slightly.

  • Corporate News: Boeing (BA) pleaded guilty to a criminal conspiracy charge in relation to two fatal 737 Max crashes. Shares were up nearly 1% in premarket trading.


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