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Canada's Finance Minister has indicated there is no current evidence that former US President Trump would agree to a zero-tariff arrangement, as reported by BBG TV. Despite this, Canada plans to 'double down' on its efforts to secure the most favorable trade agreement possible. This stance highlights ongoing uncertainties in North American trade relations, particularly concerning potential future US trade policies.
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US tariff receipts have seen a significant surge, reaching $87 billion, solidifying their position as a stable and substantial revenue stream for the United States. This increase underscores the continued impact of tariffs on the US economy and government finances.
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US mortgage rates experienced an uptick for the week of July 17, according to Freddie Mac data. The 30-year fixed mortgage rate rose to 6.75% from 6.72%, while the 15-year fixed rate increased to 5.92% from 5.86%. These rising rates could impact housing market activity and affordability for prospective homebuyers.
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In corporate news, Meta (META) has appointed Connor Hayes as the new Head of Threads, as reported by Axios. This leadership change signals Meta's continued focus on developing and expanding its Threads platform.
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In other geopolitical developments, the US plans to reduce its practice of declaring other countries' elections as "completely free and fair," according to the Wall Street Journal. This shift could alter international perceptions and diplomatic approaches regarding global electoral processes. The Israeli Cabinet has also begun a session to discuss a potential prisoner deal and ceasefire in Gaza.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.