Good morning, you're tuned into Markets Desk, and here's what's moving the needle this Tuesday.
Canada's pivot away from the United States is no longer theoretical. Starting today, Ottawa is imposing counter-tariffs of up to fifty percent on roughly twenty billion dollars worth of American goods, a direct response to Washington's own fifty percent duties on Canadian exports imposed two weeks ago. The collapse of the US-Mexico-Canada agreement in July effectively severed four decades of deeply integrated commercial ties, and Canada is now accelerating its courtship of Asian trading partners in earnest, though analysts note both sides are navigating that relationship largely blind.
Shifting to equities, Warren Buffett has broken his silence on Berkshire Hathaway's position in Alphabet, telling CNBC directly, quote, I initiated it. That matters considerably, because it pushes back against the narrative that successor Greg Abel is already steering the portfolio. New reporting confirms Buffett remains the decision-maker on stock selections, which means investors reading Abel's early tenure as a signal of strategic direction may need to recalibrate their assumptions.
Meanwhile, Nike continues to attract attention from value-oriented investors asking whether the bottom is finally in. Revenue was essentially flat in the most recent fiscal year, and the stock has endured a prolonged compression, but some analysts are beginning to argue the risk-reward is shifting as new leadership works to rebuild brand momentum and margin structure.
That's the tape. Markets Desk, signing off the floor.
