Bonds & Stocks
The holiday-shortened week started with gains in stocks as renewed appetite for the artificial-intelligence trade boosted tech giants. Oil and gold climbed as the dollar fell. Equities erased their December losses, with the S&P 500 set for an eighth straight up month.
Economy
Federal Reserve Governor Stephen Miran said the US central bank risks sparking a recession unless it continues lowering interest rates next year. “The unemployment rate has poked up potentially above where people thought it was going to go. And so we’ve had data that should push people into a dovish direction," he said.
World
Canada is considering changes to its ban on foreign home buyers starting in 2027, its housing minister said, as the government looks for ways to increase the supply of affordable places to live. Gregor Robertson said the government will maintain a previous administration’s decision to extend the prohibition on foreign buyers through 2026.