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Tech Surge Lifts Nasdaq as Inflation and Bank Earnings Weigh on Dow

  U.S. stocks traded mixed on Tuesday as investors digested fresh inflation data and the kickoff of bank earnings season. The Nasdaq Composite jumped 0.8% , powered by a rally in semiconductor stocks, while the Dow Jones Industrial Average slipped 0.3% amid concerns over rising prices and uneven financial sector results. Key Drivers: Nvidia (NVDA) soared nearly 5% after announcing plans to resume AI chip sales to China, following a green light from the U.S. government. The move sparked a broader rally in chipmakers, with AMD and Micron also posting strong gains. The Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in June, signaling a slight acceleration in inflation. Core CPI, excluding food and energy, climbed 2.9% annually. Bank earnings painted a mixed picture: JPMorgan and Citigroup beat expectations, while Wells Fargo fell short, cutting its net interest income forecast. BlackRock also reported record assets under management but saw its ...
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Ontario’s Highway 401 Tunnel: A Costly Vision with Questionable Benefits

 

Ontario Premier Doug Ford’s ambitious proposal to construct a tunnel beneath Highway 401 has sparked significant debate. Experts estimate the project could cost upwards of $60 billion, making it one of the most expensive infrastructure undertakings in Canadian history.

Dr. Shoshanna Saxe, an Associate Professor at the University of Toronto, projects the cost at approximately $1 billion per kilometre, with the total potentially exceeding $55 billion. The tunnel, intended to alleviate congestion on one of North America’s busiest highways, would stretch from Mississauga and Brampton in the west to Markham and Scarborough in the east.

However, critics argue that the tunnel may not effectively address traffic congestion. Ontario Liberal Leader Bonnie Crombie and Ontario Green Party Leader Mike Schreiner have both voiced strong opposition, suggesting that the funds would be better invested in public transit, which could provide more immediate and sustainable relief.

The feasibility study, which is yet to be completed, will provide more detailed insights into the project’s potential costs and benefits. Until then, the debate continues over whether this monumental investment is the right solution for Ontario’s transportation challenges.


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