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Carney's Bold First Step: Consumer Carbon Tax Abolished

In a decisive move on his first day as Prime Minister, Mark Carney has fulfilled a key campaign promise by abolishing the consumer carbon tax. This policy, introduced in 2019 under former Prime Minister Justin Trudeau, had become a contentious issue in Canadian politics. While it aimed to incentivize greener energy choices, critics argued it placed undue financial strain on households, especially during periods of high inflation. Carney's government ended the tax through an order-in-council shortly after his swearing-in ceremony. The industrial carbon tax on large emitters remains intact, signaling a continued commitment to addressing climate change, albeit through different means. This action marks a significant shift in Canada's approach to carbon pricing and sets the tone for Carney's leadership. 
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Market Rebound Amid Weekly Losses

                                         

U.S. stock futures showed signs of recovery on Friday after a challenging week marked by steep losses. Futures tied to the S&P 500 rose by approximately 0.9%, while the tech-heavy Nasdaq 100 saw a 1.1% increase. The Dow Jones Industrial Average futures also climbed by 0.6%.

This rebound comes after the S&P 500 entered correction territory, joining the Nasdaq Composite in a sharp downturn. The week has been turbulent, with markets reacting to uncertainties surrounding trade policies and economic data. However, optimism grew as political developments suggested a reduced risk of a government shutdown.

Despite the day's positive momentum, all three major indexes are on track for significant weekly losses, reflecting the broader challenges faced by the market. Investors remain cautious as they await further economic indicators and policy updates.

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