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Stocks Rally on Softer Inflation and Strong Earning

                                      U.S. stocks surged in premarket trading today following softer-than-expected inflation data and upbeat fourth-quarter earnings reports from major companies. The Bureau of Labor Statistics reported that core inflation, which excludes food and energy prices, rose by 3.2% in December, below forecasts for a 3.3% annual increase. This news has raised hopes for a potential second rate cut by the Federal Reserve this year. Investors were also buoyed by strong earnings reports from leading financial institutions. JPMorgan Chase reported its highest annual profit on record, while BlackRock and Goldman Sachs posted impressive quarterly results. The positive sentiment was reflected in the stock market, with U.S. stock index futures soaring by 1.5-1.7%. The dollar fell by 0.5% against a basket of major currencies, and U.S. Treasury yields dropped 8.6 basis points to 4...
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Ontario Faces Job Crisis Amid Trump's Proposed Tariffs

 

Ontario Premier Doug Ford has issued a stark warning about the potential impact of U.S. President-elect Donald Trump's proposed tariffs on Canadian goods. Ford estimates that the 25% tariffs could result in the loss of up to 500,000 jobs in Ontario. The actual number of jobs affected will depend on which sectors are targeted, but the potential impact is significant.

Ford has called for stronger and more visible action from the federal government to address this looming threat. He emphasized the need for a solid plan to secure the border and ensure economic stability. The Premier also hinted at the possibility of an early election to address the economic fallout from the tariffs.

The proposed tariffs are part of Trump's broader strategy to enhance border security and protect American jobs. However, the potential consequences for Ontario's economy are severe, and Ford is urging a unified response from all levels of government.


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