Monument and Gravestone Makers Confront Tariffs and Rising Cremation Rates

Nearly a century passes as families such as John Dioguardi’s craft custom headstones and memorial markers. They keep a long tradition alive. Rome Monument, a family business in western Pennsylvania, now faces hard challenges that shake its future.

Dual Pressures: Tariffs and the Shift Toward Cremation

An industry of small, family-run companies meets two heavy forces. One force comes from tariffs on imported granite. The other force comes from a rising shift to cremation.

  • Tariffs hit imported granite, a key raw material, and raise production cost.
  • The climbing use of cremation cuts demand for burial markers.

The Tariff Impact

Tariffs, set by recent trade policies, nearly double on some imports. This change hurts profits. Jim Milano from Milano Monuments in Cleveland saw duties jump from about 29% to 59% on granite shipped from China in one year.

Producers now take new steps:

  • Suppliers get granite from India instead of China, where rates stay low.
  • Unique granite types, like India’s multi-colored aurora granite, are not found in the U.S.
  • Companies bear extra costs so that families do not face sudden price hikes.
  • Some businesses add clauses in contracts that let prices change with tariff moves.

Operational Challenges and Industry Uncertainty

Each monument is made to order, making the work slow and planning hard. Long lead times turn scheduling and pricing into a worry when tariffs shift in the middle of production. Nathan Lange, President of Monument Builders of North America, sees this unknown as the hardest test.

Granite wholesalers like Kentucky’s PS Granite also find it hard to set prices and create steady marketing materials as tariff rates change often.

Cremation’s Growing Influence on Memorialization

Even before tariffs changed, cremation had already reshaped the field:

  • Cremation rates passed 60% in 2024 and are set to rise. Later, more than two-thirds of bodies may be cremated.
  • This trend makes monument makers craft new memorials like pedestal markers and tributes especially for cremation.
  • John Dioguardi’s team now also works on items such as a "rainbow bridge" memorial for pet ashes.

Navigating Toward a New Future

As costs rise and burials shrink, companies like Rome Monument stretch to serve wider areas and sometimes buy related businesses. Jim Milano worries that higher prices may push more customers toward cremation and shrink monument sales even more.

Across the border in Canada, the market feels the strain too. With cremation expected to top 80%, the falling demand now stops tariffs from being passed on as much.

John Dioguardi sees the shift in culture. Ancient peoples built pyramids to honor their dead. Today, with few memorials, the very base of his craft is in question. The task before monument makers is to show families a lasting worth in memorial products.


Summary:
The monument and gravestone field, built on a long tradition, finds itself at a turning point. Tariffs on granite push up costs, and more people choose cremation over burials. Businesses respond with new ways to get granite, new contract rules, and new products. Yet the future remains uncertain.


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Newfoundland and Labrador Ration Power to Cryptocurrency Miner Amid Growing Energy Demand

By Andrew Rankin | Published November 28, 2025

Newfoundland and Labrador join other Canadian provinces. They now limit power to cryptocurrency mining. This choice comes from mining’s high energy use. Utilities and governments in Canada now cut back on crypto power to save electricity.

Rising Power Demands from Cryptocurrency Mining

Cryptocurrency mining runs strong computers nonstop. These computers solve math puzzles to check transactions and create new coins, mainly Bitcoin. The work needs vast power. It also strains local grids.

A Cambridge Digital Mining Industry Report (April 2025) shows Bitcoin mining uses about 138 terawatt-hours (TWh) per year. That is close to Ontario’s total use of 139.4 TWh last year.

Newfoundland and Labrador Hydro Limits Supply to Blockchain Labrador Corp.

Blockchain Labrador Corporation asked for 20 megawatts (MW) of steady power. They wanted to use the cool climate and low energy prices. Newfoundland and Labrador Hydro, the local utility, said no. They had little extra power available. In 2022, a government rule had freed the utility from giving power to new crypto miners.

Blockchain Labrador took the case to court. They said the process was unfair and the laws were misread. The court found no fault. The company also did not get special treatment for long-time customers.

A Nationwide Movement Against Energy-Intensive Crypto Operations

Newfoundland’s choice is not alone. Other provinces act too:

  • New Brunswick: In 2023, a law stopped New Brunswick Power from serving new crypto miners. Old license holders stay insured.

  • British Columbia: BC Hydro now bans new crypto mining projects. They say mining uses too much electricity and does little for the economy.

  • Manitoba: The province pauses new power links for crypto mining until April 30, 2026. – Quebec: Quebec does not ban mining. They set higher rates and limit energy to crypto users.

Other regions like Norway, Russia, and Ethiopia also limit crypto power. Governments want to balance growth and energy care.

Energy Experts Highlight Structural Pricing and Future Challenges

Pierre-Olivier Pineau led Energy Sector Management at HEC Montréal. He sees these limits lasting. New tech needs more power, for example, artificial intelligence.

"We face many new, heavy energy uses," Pineau said. "We cannot let high power use disrupt the grid." He added that power prices do not show true costs. When new power is needed, utilities pay more and must choose wisely.

Looking Ahead

Cryptocurrency mining keeps needing large power. As demand grows, places like Newfoundland and Labrador must choose well. Their limits now steer scarce energy to vital uses. This move helps balance economic gain and sustainable power use.


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How the Blue Jays’ World Series Run Could Ultimately Pay Off for Rogers Communications

By Garry Marr
Published November 7, 2025

The Blue Jays nearly ended a long drought. They battled in a thrilling seven‐game World Series against the Los Angeles Dodgers last weekend. They lost Game 7. Still, the team’s spark lifts more than just its record. Rogers Communications Inc.—Canada’s largest telecom firm and team owner—may see big financial gains. Rogers now eyes moves in its sports business portfolio.


Blue Jays’ Playoff Run and Its Broader Significance

The Blue Jays moved close to a World Series win. Their play excited fans in Toronto and all over Canada. They lost Game 7, yet their effort sparked a fresh wave of interest. Fans now feel energized and loyal. This energy may boost the value of Rogers’ sports assets.

Rogers executives keep close watch on the team’s progress. They plan to spin off sports assets into a separate public company. The extra visibility, raised ticket sales, and more merchandise can add value to their portfolio. This boost may help Rogers’ bottom line.


Rogers’ Sports Assets: Valuation and Strategy

Rogers controls two major sports assets in Canada:

  • A 75 percent stake in Maple Leaf Sports & Entertainment Ltd. (MLSE). MLSE owns the Toronto Maple Leafs (NHL), Toronto Raptors (NBA), and Toronto FC (MLS).
  • Full ownership of the Toronto Blue Jays (MLB).

Tony Staffieri, Rogers’ CEO, noted that these sports holdings could be worth more than $15 billion—a view backed by independent analysts.

A National Bank of Canada report gives these approximate values:

  • Toronto Raptors: USD 5.22 billion
  • Toronto Maple Leafs: USD 4.25 billion
  • Toronto FC: USD 730 million

The Blue Jays are valued at roughly USD 2.39 billion. Their value rose by five percent last year, even before the playoff run.

Rogers has said it aims to acquire the remaining 25 percent of MLSE from billionaire Larry Tanenbaum’s Kilmer Group. This move should happen in the next 18 months. It may set the stage for a public offering of these sports assets. Institutional and retail investors alike could be drawn to the teams’ strong appeal.


Financial Impact of the Blue Jays’ Playoff Success

Postseason success drives revenue in clear ways. Ticket sales, premium merchandise, high TV ratings, and extra advertising bring more cash. Each of these factors strengthens the Blue Jays’ brand. They also boost Rogers’ ability to monetize the franchise.

Major League Baseball’s revenue-sharing rules for playoff teams break down as follows:

  • 50 percent of Wild Card game receipts
  • 60 percent of the first three Division Series games
  • 60 percent of the first four League Championship Series games
  • 60 percent of the first four World Series games

Extra games from a seven-game series do not enter this sharing. This structure means that longer series can produce significant extra revenue for the team.

It is difficult to pin down the exact revenue the Blue Jays earned. Yet it is clear that deep playoff runs bring strong financial rewards.


What Could a Championship Have Meant?

Would a championship have changed the story? A title would boost brand value even more. Still, simply fielding a competitive team has clear benefits. Fans enjoy the excitement and show more loyalty. Their support leads to higher spending.

Rogers plans to consolidate ownership and even list MLSE and the Blue Jays separately. The teams’ strong performance shows their market appeal. The 2025 playoff run highlighted this potential very well.


Looking Ahead

Rogers now reviews its sports empire with care. The Blue Jays’ playoff run strengthens the idea that owning successful teams is rewarding. Rogers may soon acquire full control of MLSE and explore a public offering of its sports assets. These moves set the stage to capture growing value in Canadian professional sports.

Although the Blue Jays missed the World Series trophy, their 2025 playoff run may prove to be a major win for Rogers Communications and its investors.


Photo Caption: Toronto Blue Jays’ Ernie Clement celebrates with George Springer after scoring on a double by Andrés Giménez during the sixth inning in Game 7 of the 2025 World Series against the Los Angeles Dodgers in Toronto. (Photo: AP/Brynn Anderson)


This article is based on reporting from the Financial Post and insights from industry valuations and corporate disclosures as of November 2025.

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Geopolitics and Private Credit Risks Take Center Stage as Canada’s Big Six Banks Prepare to Report Earnings

Canada’s largest banks report Q4 earnings next week. Market watchers note two risks: trade tensions and weak private credit. Even with strong past performance, experts stay cautious.

Earnings Outlook Amid Economic and Trade Concerns

The Big Six banks led Canada’s finance. They posted strong results three months ago. Their leaders now show careful hope for the future. They worry about CUSMA talks. CUSMA once kept U.S. tariffs low.

RBC CEO Dave McKay felt optimistic earlier. He stated that if goods match CUSMA rules, Canada keeps low tariffs and stays strong. New events now cast doubt.

In October, former President Trump delayed trade talks with Canada. He opposed an Ontario ad against tariffs. Though extra tariffs on Canadian exports were threatened, they have not come. Both sides now face a stall, while Prime Minister Carney plans talks with Trump.

Analyst Perspectives: Conservative Tone Expected

Analysts expect a cautious tone. CIBC analyst Paul Holden predicted quiet commentary during earnings. He links this to trade worries and a slow economy.

Matthew Lee from Canaccord added that if trade improves and CUSMA extends, banks might lower large reserves set for loan losses. Yet, banks now hold strong buffers as a safeguard.

Earnings Projections Amid Valuation Concerns

Looking ahead, banks may earn more per share in Q4 2025 than a year ago, though slightly less than Q3. They lean on capital markets, wealth management, and steady credit.

Jefferies analyst John Aiken warns that stocks might be fully valued. He fears earnings misses can force prices down. In a slow economy, the chance for quick gains is low.

Private Credit Risks Draw Scrutiny

Investors also eye private credit. Some U.S. banks took heavy charges from loan fraud. They faced losses with borrowers in troubled commercial mortgage funds. Zions Bancorp in Salt Lake City recorded a US$50-million loss, and Phoenix-based Western Alliance Bancorp had similar issues.

RBC analyst Darko Mihelic urges more clarity on private credit. Banks’ loss buffers are stable now, but more scrutiny may come if problems rise.

Conclusion

Canada’s finance leaders now share their quarterly results. Investors will watch how trade tensions and credit risks affect banks. The banks show strength, yet trade and credit issues call for careful optimism moving forward.


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China Faces Increasing Growth Risks as Property Market Struggles Combine with Weak Industrial Profits

By Bob Mason | November 27, 2025

China’s outlook shows strain. The stress grows in the property sector and weak industrial profits slow the pace. US–China trade tensions ease, yet corporate earnings, retail sales, and property signals worry Beijing as it aims for 5% GDP growth in 2025. Industrial Profits Fall Short Amid Margin Pressures

On November 27, data shows industrial profits grew only 1.9% year-to-date through October. This growth pace slows from September’s 3.2% and misses the 3.8% that economists expected. A brief rebound in August and September had raised hope for stronger activity.

Lower profits put pressure on industrial firms. Soft demand from abroad and high production costs make margins lean. This pressure may force firms to cut wages or jobs, which in turn can cool household spending. Retail sales slowed from 3.0% in September to 2.9% in October. The drop contrasts with May’s 6.4%, even after government actions to boost spending by using subsidies and fiscal measures.

Persistent Property Market Woes Compound Economic Pressures

The housing sector shows renewed stress. This sector once added nearly 25% of GDP. State-backed developer Vanke saw its bonds drop by over 20% before trading halted on five bonds. Analysts compare this drop to early-year swings when default fears sent shockwaves.

Credit experts see two paths for Vanke. One path skips a government rescue and leads to deep financial loss. The other expects central support to calm the market. Since Vanke is a large developer, its health reflects the state of the broader market.

The Hang Seng Mainland Properties Index fell 0.21% on November 26. It slipped another 0.48% in early trading on November 27, even if Beijing sent policy signals. Some measures under discussion include mortgage subsidies for first-time buyers, more income tax rebates for holders, and lower transaction costs to keep housing demand steady and stop more decline.

Corporate Earnings Echo Demand and Margin Challenges

Chinese automaker Li Auto reported third-quarter results on November 26. The report shows a 36.2% drop in revenue over the year because vehicle deliveries sank by 39%. Li Auto ended the quarter with a net loss. It expects 100,000 to 110,000 vehicle deliveries in the fourth quarter.

Trade Progress Fails to Offset Domestic Economic Challenges

US–China trade relations have improved, and leaders from both sides hint at calmer trade by year-end. The easing of export restrictions helps world trade. Yet, data from China shows weak domestic demand and a soft housing market continue to trouble the economy.

Market Reaction and Outlook

China’s stock markets rose as trade tensions eased and policy hints appeared. The CSI 300 index climbed 0.72% to 4,550 on November 27. The index nears a three-day rise and may test its 2025 high of 4,762 if the trend holds. In Hong Kong, the Hang Seng Index grew a bit too. It enjoyed a four-day rise but stayed below its October top.

Experts watch the coming data. The National Bureau of Statistics’ private sector Purchasing Managers’ Index is one sign. A weak PMI could put more doubt on China’s growth targets and force policymakers to act with new stimulus steps.

Conclusion

China’s growth path grows more uncertain. Industrial margin pressures mix with housing market stress to test Beijing’s goals. Policymakers now must balance fiscal and monetary aid to boost demand without causing more issues. Improved trade news brings hope, yet the home market and internal demand now have a key role in the rest of 2025. — End —

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Consumer Confidence Plunges to Lowest Level Since April Amid Growing Job Market Concerns

Published: November 25, 2025 | Updated: 2 hours ago
By Jeff Cox | @jeff.cox.7528 | @JeffCoxCNBCcom

Consumer confidence in the United States dropped sharply since April 2025. Consumers worry more about the job market, as a new survey from the Conference Board shows. In this report, words join closely with their subjects and verbs, making the links clear and the ideas easy to follow.

Key Findings from the Conference Board Survey

  • The November Consumer Confidence Index fell to 88.7. This drop of 6.8 points from October marks its lowest score in seven months.
  • Economists in the Dow Jones poll expected a score near 93.2, which did not occur.
  • The Expectations Index sank by 8.6 points to 63.2, and the Present Situation Index slid by 4.3 points to 126.9. Dana Peterson, chief economist at the Conference Board, said, "This data shows that consumers feel more negative about business conditions in the next six months. Labor market views for mid-2026 look poor, and ideas of growing household income have shrunk after many months of good signals."

Employment Concerns Deepen

A key part of the report shows a drop in hope for jobs:

  • The percentage of workers who call jobs “plentiful” fell from 28.6% in October to 6% in November.
  • In contrast, those who say jobs are “hard to get” edged down to 17.9%, which fits a current no-change hiring trend.

Recent payroll numbers from ADP add to this view, as private companies shed about 13,500 jobs over the past four weeks.

Consumer Sentiment Weakening More Broadly

Other surveys agree on falling consumer feelings:

  • The sentiment index from the University of Michigan dropped by 4.9% in November from the previous month and is now 29% lower than a year ago.

These lower expectations have led some Federal Reserve policymakers to speak in favor of more cuts in interest rates to move the economy. Market traders now see a strong chance of a quarter percentage point rate cut coming in December.

Influencing Factors and Future Expectations

Peterson explains that many cost worries hit consumers across income levels and political views. These include:

  • Rising prices from inflation
  • New tariffs and limits in trade
  • Signs of political unrest, as news of the recent federal government shutdown grows

Inflation guesses have now risen to about 4.8% one year out. This rise goes past the Federal Reserve’s 2% mark and the University of Michigan’s view of 4.5%.

Despite the hard times for the economy and work, consumers hold a strong, positive view of the stock market for the coming year.

Impact of the Government Shutdown

Data has been affected by the recent federal government shutdown. The shutdown stopped data collection for a bit and pushed back many reports. Only a few, mostly old, reports have come out since it ended.


For ongoing updates and clear analysis on consumer feelings, job trends, and economic outlooks, keep in touch with CNBC Pro and sign up for their newsletters.


© 2025 CNBC LLC. All Rights Reserved. Data is delayed at least 15 minutes. For more global business and financial news, visit CNBC’s Market Data and Analysis sections.

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OSFI Open to Innovative Measures to Help Banks Finance Canada’s Nation-Building Efforts

By Naimul Karim, Financial Post – November 25, 2025

OSFI, Canada’s top banking regulator, is open to new ideas. It seeks creative steps that help banks back Canada’s nation-building. OSFI wants banks to support major economic projects. This push follows a recent plan that aimed to free capital so banks could lend more. The previous plan helped real estate and small businesses.

A Call for Continuous Innovation

At Monday’s press event, Peter Routledge, OSFI’s head, stressed that the work continues. He tied each idea tightly to its goal: boosting the financial system for big projects. “We are not done,” he said. “Instead of waiting a whole year, we work regularly. What tests can we run so the system helps shift the economy?” Routledge urged banks and insurers to share their ideas. “I prefer using their thoughts because they know their business best,” he explained.

Adjusting Risk Weights to Unlock Lending Capacity

On November 20, OSFI shared a new plan. The regulator now lowers risk weights on some loans. Lower risk weights mean banks keep less capital per loan. This change helps banks lend more while staying safe. For small and medium business loans, risk weights drop from 85% to 75%. For low-rise residential real estate loans, they fall from 150% to 130%. Loans for projects with a 75% pre-sale rate also get a lower risk weight. OSFI is now inviting feedback in a 90-day public consultation.

Supporting Canada’s Strategic Economic Shift

Routledge tied today’s changes to bigger global pressures. Tariffs from the United States, for instance, push Canada to speed up mine, energy, and infrastructure projects. Banks have built strong capital since the financial crisis. “We built stronger rules after the crisis to improve safety,” Routledge said. “Now, we must adjust the system to fit a new economic climate as carefully as possible.” He pointed to sectors like defense, pipelines, ports, and green energy as new frontiers.

Encouraging Industry Collaboration

Routledge calls for ongoing, close talks with banks and insurers. He asks, “Where in banking is there a strong push from a key industry that could use extra capital relief?” By working together, OSFI and the financial institutions can set up new rules that keep banks safe and support economic growth.


For more details on OSFI’s proposals and to join the consultation process, please visit OSFI’s official website.

Contact:
Naimul Karim
nkarim@postmedia.com


This article originally appeared in the Financial Post.

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Core Wholesale Prices Rise Less Than Expected in September; Retail Sales Show Moderate Gains

Published: November 25, 2025

Recent reports from the Bureau of Labor Statistics show wholesale prices softening. They point to modest gains in retail sales. These numbers shine a light on the U.S. economy as it faces high costs.

Producer Price Index Highlights Subdued Core Inflation

The Producer Price Index tracks prices that producers earn for goods and services. It rose by a seasonally adjusted 0.3% in September. Analysts had this rise in mind when they set the Dow Jones numbers. The core index, which does not include food and energy, climbed only 0.1%, under the expected 0.2%. In August, both headline and core measures fell by 0.1%, marking a small drop at wholesale. Over the past year, the headline index is up 2.9%, and the core index increased 2.6%. Goods prices drove the PPI up by 0.9%—the biggest increase since February 2024—while service prices stayed almost the same.

Energy and Food Prices Show Notable Movements

Final-demand energy prices jumped 3.5%. Gasoline prices were up 11.8%. Food prices increased by 1.1%. In services, transportation and warehousing prices rose 0.8%. Airline passenger fees climbed by 4%. These points show sectors where prices moved higher even as core inflation stayed soft.

Retail Sales Demonstrate Steady Consumer Spending

The U.S. Census Bureau records retail sales up by 0.2% in September. This is just below the 0.3% forecast. Without automobile sales, the growth reached 0.3%, which met expectations.

Key retail segments showed different results:

• Miscellaneous retailers climbed by 2.9%.

• Gas station sales grew by 2% as fuel prices increased.

• Sporting goods, hobby, and music stores dropped by 2.5%.

• Online sales slipped by 0.7%.

Sales at eating and drinking spots rose by 0.7% over the month and by 6.7% compared to last year. Annually, retail sales advanced by 4.3%, outpacing the 3% rise in the Consumer Price Index. This gap underscores steady consumer spending despite rising prices.

Impact of Government Shutdown on Data Releases

Some official economic reports have been delayed because of a government shutdown. The Bureau of Labor Statistics has canceled the October Consumer Price Index report. There is worry that the October Producer Price report might also be canceled. The next CPI update comes on December 18. Usually, the Producer Price report is timed with the CPI release.


Overall, the September figures show softening wholesale inflation as consumers spend with care. Market watchers will follow new data to see clearer signs on inflation and economic speed.

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China’s Economic Outlook Brightens Amid US Trade Talks but Housing Slump Persists

By Bob Mason | Published: November 25, 2025

US and China now talk. Leaders meet to ease trade issues. This call builds hope in financial markets. Yet China fights a long drop in housing. A weak home market lowers buyer trust and spending.

Improved US-China Trade Dialogue Lifts Market Sentiment

On November 24, President Trump of the US spoke by phone with President Xi of China. They met earlier at the G20 summit on October 30. The call came off as a positive step. Trump used his social site, X, to share his views. He wrote, "I had a very good call with President Xi. We spoke on Ukraine, Russia, Fentanyl, Soybeans, and more. Our bond with China is very strong! This call follows our strong meeting in South Korea. Since then, both sides have kept our current points. Now we look at the wider picture."

The leaders agreed to hold more top-level talks. Trump plans a visit to Beijing in April. Xi will meet US leaders later this year. These talks ease fears of ending the one-year trade pause set last October. That pause gave stocks a boost in China.

Persisting Trade Policy Uncertainties

The call sounded good, but some trade points stayed unsolved. Neither side mentioned the 47% US tax on some Chinese goods. They also skipped the US chip supply limits for China. These gaps add weight to trade troubles. Commerce head Howard Lutnick said that a decision on letting Nvidia sell advanced AI chips to China now waits for President Trump. If export limits ease and China moves on rare earth exports, tax cuts might occur soon. For now, the trade break stays fragile.

Housing Market Troubles Drag on China’s Domestic Economy

Even as trade stress falls, China still faces home market pain. The property market drops and affects buyer trust and spending. Reports show Beijing studies steps to help the market. Ideas include mortgage support for first-time buyers, better income tax rebates for those with loans, and lower transaction costs for homebuyers. These plans have been under study since the third quarter of 2025 but have not stopped falling sales and prices.

Data show the problem clearly. Fixed-asset investment fell 1.7% over the first ten months of 2025. In October, investment dropped 12%, after five months of slow declines. The home sector led this fall with a 14.7% drop. Retail sales grew only 2.9% in October, down from 3.0% in September and far less than 6.4% in May. This drop shows a spillover from the weak home market to general spending.

Pessimism from Property Market Analysts

John Lam of UBS now sees the market in a worse light. He predicts falling prices for at least two more years as demand weakens. Many homebuyers in the past decade now face losses, which further reduce family wealth and spending. While mortgage support might ease some strain, such help works only if home prices stabilize. If prices keep falling, these steps may not restore buyer trust.

Markets React to Easing Trade Tensions

Softer trade talks helped stocks in both China and Hong Kong. On November 25, the CSI 300 index rose by 0.48% to 4,469 in early trade. Losses for November narrowed to 3.65%. In Hong Kong, the Hang Seng Index climbed by 0.84%. That rise moved the index into slight monthly gains of 0.11%. Even as trade talks lift investor hope, many watch how Beijing will act to boost its home economy.

Looking Ahead

The coming months will test China’s future. Keeping a trade pause and moving toward tax cuts may support export jobs. At the same time, reviving the home market and boosting local spending remains key to reaching a 5% GDP rise in 2025. Investors will track industrial profits, manager surveys, and policy news. They will watch closely to see if China can build enough strength to face its challenges.

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Treasury Secretary Scott Bessent: No Recession Expected in 2026, Though Some Economic Sectors Face Challenges

November 23, 2025 — Treasury Secretary Scott Bessent shared a clear view of the U.S. economy. In an NBC News interview on Meet the Press, he said the nation will not slip into a recession next year. He noted that some sectors still face pressure.

Optimism for the Economy in 2026

Bessent spoke with clear ties between ideas. He sees strong growth with low price rises. He points to rules on trade and taxes from the Trump era as key factors. He believes these changes give American workers and businesses a better chance to gain funds.
"We have set the table for a very strong, noninflationary growth economy," he said. "The country is ready to move forward as growth climbs."

Impact of the “One Big, Beautiful Bill Act”

Bessent ties part of the good news to a law called the One Big, Beautiful Bill Act. This law comes from GOP spending plans. It sets many tax cuts from President Trump in 2017 in place for good. It adds rules to make money matters easier for many people. For instance, there is a bonus for seniors to ease Social Security taxes, more room for state and local tax relief, and breaks for tip earnings, overtime pay, and auto loans. Each rule brings cash closer to the people and helps spend more.

Healthcare Costs and Policy Outlook

Bessent looked at health costs next. He sees plans that make care more affordable. Right now, Congress is split on extending rules for the main health plan. This split makes care cost more for many. He hinted that new steps will come soon to help ease these rising costs.

Sectoral Struggles Amid Growth

Bessent sees signs of strain in areas like housing. The slow pace and reliance on loans show a mixed picture. Some jobs tied to interest rates do not move as fast as needed. Prices in services still climb, yet falling energy prices may help slow these climbs soon.

Economic Comments from Others

Kevin Hassett from the White House National Economic Council shared a similar note. He pointed out that the fourth-quarter data may seem soft because an extended 43-day government shutdown slowed many tasks. This shutdown is the longest one in U.S. history.
A recent NBC poll shows that about two out of three registered voters feel the Trump team did not do enough about the economy and living costs. In a JPMorgan Cost of Living Survey, those with higher incomes rated their view of the economy as 6.2 out of 10. In contrast, lower-income respondents averaged just 4.4. ### Conclusion

Treasury Secretary Scott Bessent sees no recession for 2026. He links steady growth to past trade and tax work. Yet he adds that some areas, like housing and fields that need loans, need extra care. Health costs also press many amid a split in Congress. As new laws take hold and talks continue, the path of the economy will hinge on solving these pending issues.


For continual updates on the U.S. economy and policy developments, stay tuned to CNBC’s coverage.

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