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Is Carney Laying the Groundwork for a Snap Election?

Prime Minister Mark Carney and Ontario Premier Doug Ford have discussed calling an early federal election, three sources told The Globe and Mail, though Carney’s office maintains the government does not plan a snap vote.

The Progressive Conservative premier told the Liberal prime minister that Canada needs economic stability and that an election offers an opportunity to secure a clear majority mandate, according to sources familiar with the discussions. The sources stressed that Ford’s comments do not constitute an endorsement of the federal Liberals.

You can read more on the matter here.

What’s going on?

• New Zealand Greenlights $600 Million Gas Import Facility (theDeepDive)

• Carney tells Trump Canada paid full cost of building Gordie Howe bridge (Globe)

• Florida Legislature Advances Rules for Gold, Silver as Legal Tender (theDeepDive)

• Trump threatens to block opening of new border bridge with Canada (FT)

• Epstein Files Citing Maduro Spark Fresh Speculation Of CIA Ops In Venezuela (theDeepDive)

• Fed’s Logan Says Cooling Inflation Not Enough for More Rate Cuts (Bloomberg)

• SpaceX Shifts Priority to Moon City as Mars Plans Take Back Seat (theDeepDive)

• US household credit troubles ticked up at end of 2025, New York Fed says (Reuters)

• Was Epstein’s Death Announcement Drafted Before His Body Was Found? (theDeepDive)

• Trump to Repeal Landmark Climate Finding in Huge Regulatory Rollback (WSJ)

What’s the latest?

• EVs: The federal government committed $84 million to install over 8,000 new EV chargers nationwide, adding to Canada’s existing 16,207 charging stations and 45,781 ports, though no rollout timeline was given. Ottawa also allocated $5.7 million for low-carbon freight projects and $7.2 million for EV education and awareness. The funding builds on last week’s auto strategy, which includes up to $5,000 EV rebates, a $1.5-billion charging and hydrogen infrastructure initiative, and a revised target of 75% EV sales by 2035.

• Politics: U.S. President Donald Trump threatened to block the Gordie Howe International Bridge unless the U.S. is “fully compensated,” despite the bridge being jointly owned by Canada and Michigan and financed primarily by Canada at a cost now estimated at $6.4 billion. Prime Minister Mark Carney says he explained the ownership, funding, and binational economic benefits to Trump and expects the issue to be resolved. Ontario Premier Doug Ford and federal officials insist the bridge will open as planned, calling it critical to cross-border trade and supply chains.

• Markets: Canada’s TSX rose 187.6 points to 33,210.96, led by telecom, tech, and financial stocks. U.S. markets were mixed, with the Dow up 124 points, the S&P 500 flat, and the Nasdaq slightly down. The Canadian dollar strengthened to 73.91 US cents, while oil slipped to US$63.94 and gold fell to US$5,035.70 an ounce.

• Commodities: Canadian oilpatch consolidation is expected to continue in 2026 as producers use M&A to grow amid oil prices near US$60 per barrel, weak drilling returns, and shareholder pressure for cash returns. Activity is forecast to remain steady but at smaller deal sizes, with 2025’s multi-billion-dollar transactions unlikely to be repeated. Deals are still dominated by domestic buyers, while foreign interest remains limited, though U.S. private equity is selectively targeting undervalued Canadian assets. Structural constraints and fewer high-quality targets point to a modest slowdown in overall consolidation momentum.

• Bell: Bell Canada and SAP Canada signed an MOU to build a fully Canadian-operated sovereign cloud for governments and regulated industries, keeping sensitive data within Canada. The platform will combine Bell AI Fabric’s national network, compute and data centres with SAP Sovereign Cloud to meet data residency and sovereignty requirements. SAP will also integrate Cohere’s enterprise AI into the sovereign cloud offering.

McEwen Buys Golden Lake

The stock market and stuff

• Newmont Warns Barrick Nevada IPO Hinges On JV Fixes (theDeepDive)

• CME Group Raises Gold, Silver Margin Requirements as Volatility Grips Precious Metals Markets (theDeepDive)

• Paramount sweetens takeover offer for Warner Bros Discovery (FT)

• Silvercorp Posts Net Loss On Record Revenue In Fiscal Q3 2026 (theDeepDive)

In the juniors

• Canadian Copper Plans 2,500 Metre Drill Program For 2026 (theDeepDive)

• Vizsla Silver: Remains Of At Least 3 Kidnapped Employees Identified (theDeepDive)

• Astra Extends High Grade Zone At Depth After Drilling 9 g/t Gold, 1,286 g/t Silver Over 3.1 Metres (theDeepDive)

• Canadian Gold Resources Completes 58 Hole Maiden Drill Program At Lac Arsenault (theDeepDive)

• Mercado Receives Permits For Planned 3,000 Metre Drill Program At Copalito (theDeepDive)

FULL DISCLOSURE: Northern Superior is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Northern Superior. The author has been compensated to cover Northern Superior 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.