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2w ago

Global Markets Shift as Canada Elects Minority Liberal Government and U.S. Signals Auto-Tariff Relief

Canada's TSX rises following Mark Carney's election victory, while U.S. and Australian markets respond to trade policy shifts and energy investments.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, April 21, 2025. US stocks tumbled as President Donald Trump continued to verbally attack Jerome Powell, calling on the Federal Reserve chair to cut rates as signs mount the president's trade war is pushing the economy toward recession.
Traders work on the floor of the New York Stock Exchange at the opening bell on April 9.
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Overview

  • Mark Carney's Liberals secured 168 seats in Canada's federal election, forming a minority government focused on navigating trade tensions with the U.S.
  • The S&P/TSX composite index rose 88 points on election day, reflecting cautious optimism about policy stability under the new government.
  • U.S. officials indicated plans to ease auto tariffs, reducing duties on foreign parts in domestic manufacturing, with reports suggesting potential moves on 25% automotive levies.
  • Australia's ASX200 hit a two-month high, gaining 0.92%, bolstered by tariff de-escalation hopes and major energy sector developments, including Woodside Energy's $17.5 billion LNG project in Louisiana.
  • Investors across global markets are closely watching tech giant earnings and inflation data, which are expected to influence broader economic sentiment.