latest news in economy
Largest US Power Grid Faces Blackout Risk as Winter Demand Hits Record Highs
Audubon, Wednesday, 28 January 2026.
Wholesale electricity prices spiked above $3,000 per megawatt-hour as the largest US grid braces for record winter demand, forcing rare emergency measures to secure power for 67 million people.
S&P 500 Breaches Historic 7,000 Level as AI Boom Fuels Wall Street Rally
New York, Wednesday, 28 January 2026.
The S&P 500 surpassed 7,000 today, fueled by AI optimism. Notably, this rally coincides with record gold prices, signaling a rare market dynamic balancing aggressive growth with defensive hedging strategies.
New York Metro Area Housing Market Shows Signs of Stabilization in 2026
New York, Wednesday, 28 January 2026.
OneKey MLS reports that the New York metro housing market is stabilizing, though unevenly. While Manhattan struggles, Long Island and the Hudson Valley show strength, with some sellers getting over 100% of their asking price in 2025.
Port of Montreal Defies Global Trends With Robust Container Growth and Diversification
Montreal, Wednesday, 28 January 2026.
In a landscape of global economic instability, the Port of Montreal has outperformed expectations, reporting a 3.6 percent increase in container volumes for 2025—surpassing global trade growth projections. This resilience is largely attributed to a strategic pivot toward African markets, highlighted by a striking 44 percent surge in trade with Morocco. While weather impacted dry bulk sectors, the port’s ability to diversify its trade routes has proven vital. As the Contrecœur expansion advances, these results underscore the necessity of adaptable infrastructure in securing North American supply chains against geopolitical volatility.
Dollar Weakens as Government Shutdown Looms and Fed Leadership Shifts
New York, Wednesday, 28 January 2026.
The US Dollar Index has breached critical support levels ahead of the January 30 government funding deadline. Markets are further rattled by speculation that BlackRock executive Rick Rieder may replace Jerome Powell, raising concerns over future Federal Reserve independence.