Welcome to Markets Desk, your midday read on what's moving markets and policy.
Consumer confidence is cracking, and the Federal Reserve is taking notice. The University of Michigan's sentiment survey fell for the third consecutive month, hitting lows that actually undercut the nineteen seventies oil crisis era. Long-run inflation expectations are drifting higher, and that is precisely the scenario the Fed's new leadership under Kevin Warsh cannot afford to let take hold.
Shifting to the technology space, quantum computing is drawing serious federal attention heading into two thousand twenty six. The United States government is directing two billion dollars toward nine quantum computing companies, a signal that this isn't speculative fringe science anymore. Analysts who've been watching the sector say the broader market is still dramatically underpricing what near-term quantum capability could mean for industries from logistics to pharmaceuticals.
And on the labor front, Air Canada has reached a tentative collective agreement with Unifor, the union representing roughly six thousand workers across contact centres, airport terminals, and customer relations. A deal here removes meaningful operational risk heading into the summer travel season, which is the highest-revenue period on any carrier's calendar. Investors in the airline will be watching ratification closely.
That's the tape. Markets Desk, signing off the floor.
