Core Viewpoint - Trade tensions between the US and Canada have escalated following Ontario's government releasing an advertisement featuring former President Ronald Reagan discussing the negative impacts of tariffs [1][2]. Group 1: Advertisement and Its Content - Ontario's government, led by Premier Doug Ford, launched an ad on October 16, 2025, using excerpts from Reagan's 1987 speech to argue against American tariffs on Canada [1][2]. - The ad emphasizes Reagan's warning that tariffs, while appearing "patriotic," ultimately harm American workers and consumers, leading to retaliation and trade wars that can result in market collapses and job losses [1][2]. Group 2: Reactions and Controversies - The Ronald Reagan Presidential Foundation and Institute criticized Ontario for "misrepresenting" Reagan's remarks and stated that permission was not sought for the use of the speech [3]. - Former President Trump reacted by labeling the advertisement as "FAKE" and announced the termination of all trade negotiations with Canada, asserting the importance of tariffs for US national security and economy [8][9]. - A spokesperson for Premier Doug Ford defended the ad, claiming it used an "unedited excerpt" from Reagan's speech and reiterated that Reagan supported free trade between Canada and the US [9].

Trade & Tariffs - President Trump terminated trade negotiations with Canada following a political ad paid for by Ontario's government [1] - The Reagan Presidential Foundation is reviewing legal options regarding the use of President Reagan's voice in the ad, claiming misrepresentation [4][9] - The US has already imposed significant tariffs on Canada, a key trading partner [6] Politics & Policy - President Trump called off plans to send federal troops to San Francisco after speaking with tech leaders [9][12] - The Senate adjourned for the weekend, extending the government shutdown, impacting federal workers and low-income Americans relying on government assistance [18] - New York Attorney General Leticia James' lawyers are challenging the appointment of prosecutor Lindseay Hallan in her case, citing an unlawful appointment [24] Legal & Crime - NBA is facing gambling scandals involving the head coach of the Portland Trailblazers and a player for the Miami Heat, with allegations of leaked information and rigged poker games [34] - Operation Royal Flush details high-tech cheating in poker games, including X-ray tables and marked cards [35][37] - Operation Nothing involves potential corruption in sports betting, particularly with prop bets, raising concerns for professional sports [45][50] Weather - Tropical Storm Melissa is stationary in the central Caribbean region, expected to strengthen into a major hurricane, posing a threat to Jamaica and Haiti with potential for 15 inches of rain [52][55]

BREAKING: 🇺🇸 Trump has said the stock market is stronger than ever because of tariffs. https://t.co/ZHI3fRfHSk ...

JUST IN: 🇺🇸 President Trump says the stock market is stronger than ever because of tariffs. ...

Core Insights - The consumer products giant exceeded earnings and sales expectations for its fiscal first quarter [1] Financial Performance - The company reported strong financial results, indicating robust demand for its products [1] - Earnings and sales figures surpassed analyst forecasts, showcasing effective management and strategic positioning [1] Market Implications - The positive performance may signal a favorable outlook for the consumer products sector, potentially attracting investor interest [1] - The results could lead to increased confidence among stakeholders regarding the company's growth trajectory [1]

Core Insights - Procter & Gamble (PG) exceeded Wall Street expectations for first-quarter revenue and profit, driven by strong demand for beauty and hair-care products despite economic uncertainties [1][5] - The company reduced its annual tariff cost estimate to approximately $400 million after tax, down from $800 million, following Canada lifting retaliatory tariffs on U.S. goods [1] Financial Performance - PG's quarterly revenue increased by 3% to $22.39 billion, surpassing estimates of 2% growth to $22.17 billion [5] - Core earnings per share reached $1.99, beating estimates by 9 cents, as higher prices helped mitigate tariff pressures [5] Market Trends - Sales volumes in the beauty segment rose by 4% in the three months ending September, compared to a 1% increase in the previous quarter [3] - Overall volumes across PG remained flat, although there was an increase in China [2][3] Competitive Landscape - PG's results are consistent with those of competitors like Unilever, which reported double-digit sales growth from beauty brands in the U.S. [2]

Inflation & Interest Rate - Headline inflation estimate is 31%, highest since February [1] - The market has largely priced in an interest rate cut at the upcoming Fed meeting [2] - The key focus is whether tariffs are being passed on to higher goods prices, and what happens with services inflation [2][3] - There's a divide among Fed officials regarding concerns about the labor market versus the stickiness of inflation [5][6] - The Fed's guidance on future rates is expected to be limited due to a lack of comprehensive data [9] - A December rate cut is anticipated, especially if the government reopens and data becomes available [14][15] Economic Outlook - Workforce reductions are occurring across different parts of the economy [4] - AI investments are significantly powering the market, with the Atlanta Fed GDP tracker indicating almost 4% growth for the quarter [10] - The economy may be bifurcated, with growth driven by a few sectors and higher-income consumers, making it prone to shocks [11][12][13] - The labor market is expected to weaken, potentially driving more rate cuts into Q1 of the following year [15]

India’s shift away from discounted Russian crude should be more than offset by gains from likely lower US tariffs, Nomura said https://t.co/Z8tNqj269w ...

Core Point - The Ontario government's $75 million advertising campaign utilized a speech by President Ronald Reagan on tariffs, but it omitted a crucial section that undermines the overall message [1] Group 1 - The ad blitz cost the Ontario government $75 million [1] - The speech referenced in the campaign is from President Ronald Reagan [1] - The omission of a key section in the speech raises questions about the message's validity [1]

Core Insights - Eli Lilly is expanding its domestic manufacturing to mitigate risks from aggressive tariffs imposed by the Trump administration [1][6] - The company plans to invest $27 billion in four new facilities, with the Virginia facility being the first [3][6] - Eli Lilly aims to become a tariff-proof pharmaceutical leader by manufacturing therapies entirely in the U.S. [6] Financial Overview - Eli Lilly's current market capitalization is $777 billion [5] - The company's stock price has shown a change of +1.06%, currently priced at $821.04 [4] - Eli Lilly has a gross margin of 82.64% and a dividend yield of 0.01% [5] Growth Potential - Eli Lilly has demonstrated unusual revenue and earnings growth, supported by rapidly growing sales of its medicines [7] - The investments in U.S.-based manufacturing are expected to bolster the company's financial performance in the coming years [7]