The Fox News Rundown Business Rundown: No, Canada! ... Trade Tensions Escalate Between the US and Its Northern Neighbor
Oct 24, 2025
Kenny Polcari, Chief Market Strategist at SlateStone Wealth, dives into the latest inflation figures revealing a slower-than-expected increase, much to the market's relief. He discusses how investors are maneuvering through economic uncertainty due to a data blackout caused by the government shutdown. The conversation takes an intriguing turn as he addresses recent tensions between the U.S. and Canada over trade, emphasizing its potential long-term effects on markets. Kenny forecasts a bullish year-end rally fueled by strong corporate earnings and tech advancements.
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Inflation Print Beat Expectations
- The September CPI came in slightly below expectations, with monthly CPI +0.3% and annual CPI at 3.0%.
- Markets rallied immediately because the print lowered near-term inflation risk ahead of the Fed meeting.
CPI Drove Social Security Adjustment
- The CPI release was expedited because it determines the Social Security cost-of-living adjustment.
- That urgency produced a 2.8% Social Security increase tied directly to the CPI timing.
Shutdown Creates A Data Desert
- The government shutdown threatens future data releases like CPI and PPI if staffing isn't restored.
- That data blackout leaves CEOs, investors, and the Fed operating with reduced visibility.