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Canada’s Media Trust Gap Widening

Canada’s news industry is not facing a simple trust crash. It is facing a split market.

Pollara Strategic Insights’ latest Trust in Media study found that 51% of Canadian adults tend to trust information from the news media, compared with 35% who tend not to trust it. That is higher than Pollara’s readings in 2022 and 1992, and above the 45% trust level Pollara recorded among US adults in the same survey wave.

But the sharper risk is not the headline number. It is the distribution underneath it.

You can read more on the matter here.

What’s going on?

• The War In Creating The US-Iran Peace Deal: Nuclear Inspections (theDeepDive)

• Ontario’s proposed nuclear plants could cost nearly $300-billion, study finds (Globe)

• Darlington Nuclear Project Gets Largest-Ever Indigenous Loan Guarantee in Canadian History (theDeepDive)

• Canada’s deal for Chinese EVs threatens trade with U.S., automakers warn (TS)

• Pentagon Seeks Additional $80 Billion Iran War Funding From Congress (theDeepDive)

• Byelection clock ticking as MPs officially resign. How does it impact Liberals' majority? (CBC)

• A Week of Ukrainian Strikes on Russian Oil, Fuel, and Weapons Production—and a Warning at the Security Council (theDeepDive)

• US manufacturing jobs fall at fastest rate since the pandemic (FT)

• A Japanese AI Lab Built a Model That Routes Around Export Controls—and Claims It Matches Fable 5 (theDeepDive)

What’s the latest?

• Real Estate: 45% of prospective Canadian homebuyers believe now is a good time to buy, but 75% say economic uncertainty is making them more cautious. About 72% view economic uncertainty as the biggest obstacle to purchasing a home, while 67% worry it will affect their buying plans. Rising costs are also limiting savings, with 71% of buyers planning to purchase within two years reporting that inflation is reducing their ability to save for a down payment.

• Markets: The S&P 500 fell 1.3% and the Nasdaq dropped 2% as a global technology selloff accelerated, while the Dow remained roughly flat. Semiconductor stocks led losses, with Micron down 11%, Sandisk 12%, Qualcomm 8%, AMD 5%, and the semiconductor ETF falling 6%. South Korea’s Kospi dropped nearly 10%, led by a 12% decline in SK Hynix, while Japan’s Nikkei fell 3.6%. Defensive stocks outperformed, and SpaceX rose 6% despite the broader tech weakness.

• Energy: The U.S. Department of Energy announced $17.5 billion in loans to support the construction of 10 large nuclear reactors across five projects using Westinghouse’s AP1000 design, with each reactor producing about 1.1 gigawatts of electricity. The financing is expected to shorten construction timelines by up to three years and could supply power to more than 8 million homes in total. Project developers must contribute nearly $1 billion in equity per project to access the loans, while technology companies are expected to sign long-term power agreements to support the plants. The initiative aligns with the Trump administration’s goal of starting construction on 10 large reactors by 2030 to meet growing electricity demand from AI data centers and industry.

• Economy: Canada’s inflation rate rose to 3.2% in May, the highest level since late 2023, largely driven by higher energy prices caused by the Iran conflict. Bank of Canada Governor Tiff Macklem said there is no evidence of broad-based inflation, with most price increases concentrated in gasoline, transportation, and energy-related categories. Grocery inflation remained elevated at 4.3%, with fresh fruits and vegetables seeing notable increases due to supply and transportation costs. Falling oil prices following the U.S.-Iran peace agreement have reduced inflation risks, making a Bank of Canada rate hold on July 15 increasingly likely.

• Tech: SpaceX shares rebounded 4% Tuesday after falling nearly 24% over the previous three sessions, including a 16% drop that erased about US$400 billion in market value. The stock briefly fell below its US$150 debut price and pushed the company's valuation under US$2 trillion. SpaceX reported US$100.8 billion in cash and announced a computing partnership with AI startup Reflection. Despite the rebound, most investors who bought after the IPO rally have lost nearly all of their gains.

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The stock market and stuff

• Energy Fuels Strikes $1.9 Billion Deal to Buy Magnet Maker VAC (theDeepDive)

• SpaceX stock climbs 4%, rebounding from three-day losing streak (CNBC)

• Tata Confirms Cyberattack After Apple And Tesla Files Appear Online (theDeepDive)

In the juniors

• Cambria Gold Names Cleveland Rueckert VP (USA) Ahead of Mt. Margaret Spinout (theDeepDive)

• AbraSilver Pegs Diablillos NPV at $4.8 Billion in Definitive Feasibility Study (theDeepDive)

• Kirkland Lake Discoveries Adds a Second Drill as Mirado Returns 79.63 g/t Gold Over 2.1 Metres to the South (theDeepDive)

FULL DISCLOSURE: Silver47 Exploration is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Silver47 Exploration. The author has been compensated to cover Silver47 Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.