Morning Rush: Carney to meet with cabinet to discuss tariffs
Bill Carroll from The Morning Rush shares his thoughts on the letters Trump sent to Prime Minister Mark Carney about new tariff rates are "the deals."
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Cision Canada
32 minutes ago
- Cision Canada
Canada and European Union launch new industrial policy dialogue Français
OTTAWA, ON, /CNW/ - The Government of Canada is focused on strengthening and diversifying international partnerships, working with the European Union (EU) to protect and create jobs on both sides of the Atlantic. The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, and Stéphane Séjourné, the European Commission's Executive Vice-President (EVP) for Prosperity and Industrial Strategy, met on July 11 to advance collaboration under the New Canada–EU Strategic Partnership of the Future. This partnership was announced at the Canada–European Union Leaders' Summit in Brussels on June 23 by the Right Honourable Mark Carney, Prime Minister of Canada; António Costa, President of the European Council; and Ursula von der Leyen, President of the European Commission. Minister Joly and EVP Séjourné agreed to develop a joint work plan in the coming weeks that will determine specific areas of cooperation. They also committed to convening again within the next month to further advance their shared priorities. Recognizing economic diplomacy as a vital tool for fostering stability, innovation and prosperity, both leaders emphasized the importance of deepening cooperation to address global challenges. Quotes "At this pivotal moment, Canada is committed to deepening its partnership with the European Union as we diversify supply chains and enhance trade ties. Together, we are strengthening a trans-Atlantic alliance that will enhance our economic competitiveness and protect critical industries and technologies." – The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions "Today's visit marks the first concrete step toward the deeper cooperation envisioned at the EU–Canada Summit. At a time when the international geoeconomic landscape has rarely been so unstable, strong partnerships and shared perspectives on global trade and industrial trends are more valuable than ever. From expanding our trade ties and strengthening technological and innovation cooperation to increasing the supply of Canadian raw materials, we share an unprecedented range of common interests." – Stéphane Séjourné, Executive Vice-President for Prosperity and Industrial Strategy, European Commission Quick facts Prime Minister Mark Carney launched the New Canada–EU Strategic Partnership of the Future in Brussels with European Council President António Costa and European Commission President Ursula von der Leyen on June 23, 2025. Canada and the EU also signed the Security and Defence Partnership, which provides a framework for dialogue and cooperation in security and defence priorities. SOURCE Innovation, Science and Economic Development Canada
Globe and Mail
34 minutes ago
- Globe and Mail
Markets Hit Record Highs, Banks Report Q2 Results: Stocks to Watch
Stocks crept higher to kick off an eventful week, with the Nasdaq notching a record closing high ahead of the official start of the second-quarter earnings season. Over the weekend, President Trump upped the ante in regards to his tariff agenda, promising 30% duties on Mexico and the European Union. Officials from both countries are pushing to make a deal before the August 1 st deadline. Adding to the headlines yesterday, Trump ramped up tensions with Russia over the war in Ukraine, threatening to impose 'secondary' tariffs of up to 100% if a deal is not struck soon. Markets seemed to shrug off the latest tariff flareups, looking past any uncertainty as the Q2 earnings season gets underway. Almost 100 companies are on deck to report results this week, including 38 S&P 500 members. Several big banks reported this morning before the open, with the majority of the pack outpacing estimates. A mainly in-line CPI inflation report added to the bullish sentiment. It'll be interesting to see how stocks react to earnings. Looking at the second quarter as a whole, S&P 500 companies are expected to witness 4.7% earnings growth on 4% higher revenues. These figures represent a significant deceleration from the growth trend of recent quarters. Recapping the First Half of the Year It's an exciting time in the stock market right now with the major U.S. indexes eclipsing their former all-time highs. As we make our way deeper into the third quarter, let's take a step back and try to determine what may lie ahead for the rest of 2025 and beyond. It was certainly a first half to remember. The see-saw action translated to one of the most volatile first halves in recent memory. President Trump's trade war sent shockwaves throughout the financial markets, resulting in a nasty correction earlier in the year as investors priced in potential trade outcomes. By April, market performance began to turn the corner, improving rapidly as investors gained more clarity amid signs of trade-talk progress. The V-shaped, relentless move morphed into a lockout rally that left nonbelievers in the dust. And because many investors missed out on big gains, they will continue to snap up shares on weakness, which should help lift stocks even further. The S&P 500 just delivered one of the greatest three-month rallies in history, advancing more than 25% off the April lows. As we can see below, the current version of the blue-chip index has only accomplished this feat five other times since its inception in 1957: In the twelve months following each of these instances, the S&P 500 delivered double-digit gains each time. As the saying goes, strength begets strength. Still, the doubters and naysayers remain prevalent. This is certainly one of the most hated market rallies since the surge in stocks following the onset of the COVID-19 pandemic. There are always reasons that critics can point to as to why stocks can't continue higher, but as we know, stocks climb a wall of worry. Stocks to Watch Megabank JPMorgan Chase JPM led a slew of banks reporting quarterly earnings Tuesday morning. The banking giant reported Q2 earnings of $4.96 per share, beating the Zacks Consensus Estimate of $4.51/share by 9.98%. The bottom line improved 12.7% versus the year-ago period. Revenues for the second quarter of $44.91 billion also topped estimates. JPM stock, a Zacks Rank #2 (Buy), ticked down slightly but remains in a strong uptrend and near 52-week highs: Outside of financials, leading chipmaker Nvidia NVDA saw its stock pop about 4% in the early going after the company stated it is filing applications with the U.S. government to resume sales of its previously restricted H20 GPUs to China. 'The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the company said in a prepared statement. Nvidia will be one of the last companies to report quarterly results this season in late August. The stock has broken out to all-time highs and is resuming its former momentum: Bottom Line Positive earnings results out of the gate bode well for the remainder of the season. A tame inflation trend in the face of President Trump's tariffs adds to the bullish case. Historical statistics also point to more general market strength over the next twelve months. Make sure you're taking advantage of all that we offer here at Zacks. Disclosure: JPM is a long-term holding in the Zacks Income Investor portfolio. NVDA is a core holding in the Zacks Headline Trader portfolio. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. JPMorgan Chase & Co. (JPM): Free Stock Analysis Report
National Post
36 minutes ago
- National Post
Pronto Acquires SafeAI, Expanding Leadership in Off-Road Autonomy
Article content Strategic transaction extends Pronto's leadership in providing autonomous technologies to off-road industries with an initial focus on the mining, quarrying, and construction markets Article content SAN FRANCISCO — Inc. (Pronto), the industry leader in scalable, affordable, OEM-agnostic Autonomous Haulage Systems (AHS), today announced it has completed its acquisition of SafeAI Inc., another pioneer in safety-focused, multi-sensor autonomous solutions for heavy industry. The transaction further establishes Pronto as the world's most capable and technologically advanced autonomy provider for the off-road sector. Article content 'Pronto is automating everything with wheels, starting with mining trucks, focused on becoming the first profitable autonomous vehicle company,' said Anthony Levandowski, CEO of Pronto. The combined entity will offer the industry's first and only tiered technology portfolio, capable of serving the full spectrum of customer needs, from small quarries to large mines. This includes Pronto's commercially proven, camera-only AHS for customers prioritizing affordability and rapid deployment, as well as a multi-sensor premium offering, both of which will benefit from SafeAI's safety framework that has been ASIL D-certified, the highest safety integrity level in the industry. Article content 'Pronto is automating everything with wheels, starting with mining trucks, focused on becoming the first profitable autonomous vehicle company,' said Anthony Levandowski, CEO of Pronto. 'This acquisition solidifies our leadership in the automation of the mining, quarrying, and construction industries, and will help us further accelerate the commercial deployment of our technologies to sites around the world.' Article content This strategic transaction comes as Pronto is experiencing rapid growth and gearing up for its next phase of expansion, after recently announcing a global agreement to deploy more than 100 autonomous trucks with Heidelberg Materials and expanding its team in Brazil. Article content The acquisition brings together two of the most experienced teams in autonomy, with decades of experience spanning the DARPA Grand Challenges, Google, Waymo, Uber, Apple, Caterpillar, Lucid, Ford, General Motors, Tesla, and Topcon. Article content About Pronto Article content Pronto is Autonomy Simplified. Founded by the Silicon Valley pioneers who have been at the forefront of the most important advances in autonomous vehicles and robotics for the last two decades, Pronto provides the world's leading Autonomous Haulage System (AHS). Pronto AHS is designed to be the simplest, fastest to deploy, easiest to use, and most cost-effective solution in the mining and quarrying markets, increasing productivity, enhancing safety, and solving labor challenges for its customers. Learn more at Article content Article content Article content
