Bonds & Stocks
Wall Street staged a comeback as dip buyers emerged, lifting stocks amid rally in chipmakers on bets the artificial-intelligence trade that’s powered the bull market has more room to run. The S&P 500 rose 0.6%. The yield on 10-year Treasuries advanced two basis points to 4.62%.
Economy
The Trump administration vowed to impose a fresh 50% tariff on some Canadian goods over what it said was unfair treatment of American alcohol, cars and dairy, further inflaming trade tensions between the two neighbors. The items subject to the new tariff include milk, hockey equipment, beer and plywood — but not major resource imports such as energy, potash and critical minerals. Goods covered by separate duties on industries, including autos and steel, will also be spared.
World
The US and Iran exchanged strikes for a 10th consecutive day even as mediators sought to revive a truce, while the Houthi militant group in Yemen threatened shipping in the Red Sea.