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Canada to Announce Response to U.S. Steel and Aluminum Tariffs

The Canadian government is set to unveil its response to the United States' recent imposition of 25% tariffs on steel and aluminum imports. Finance Minister Dominic LeBlanc, Foreign Affairs Minister Mélanie Joly, and Industry Minister François-Philippe Champagne will address the nation in a press conference on Parliament Hill this morning. The tariffs, which came into effect at midnight, mark a significant escalation in trade tensions between the two countries. The U.S. administration, under President Donald Trump, has justified the move as part of its broader strategy to realign global trade. In retaliation, Canada has already imposed counter-tariffs on $30 billion worth of U.S. goods and is expected to announce further measures to protect Canadian industries and workers. The response is anticipated to focus on minimizing the impact on Canadian businesses while ensuring a strong message is sent to the U.S. about the importance of fair trade practices. The announcement comes amid o...
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Mixed Signals in the Stock Market Amid Earnings Reports

 

U.S. stock futures showed mixed results on Thursday, with the S&P 500 and Nasdaq futures inching up, while the Dow Jones Industrial Average slipped as earnings reports continued to flood in.

Investors are closely watching the latest earnings reports from major banks and retailers, which have shown a mix of strong performances and some disappointments. The S&P 500 futures rose by 0.1%, and Nasdaq futures gained roughly 0.3%, while Dow Jones futures fell by 0.2% due to a decline in UnitedHealth stock.

The market is still benefiting from a recent easing in consumer inflation, which has led to increased bets that the Federal Reserve may lower interest rates before July. This optimism was further supported by strong earnings from Bank of America and Morgan Stanley, although UnitedHealth's revenue fell short of estimates.

As the market awaits more earnings reports and economic data, including the December retail sales report and jobless claims update, investors remain cautiously optimistic about the potential for rate cuts and continued economic growth.




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