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November 8, 2025

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The U.S. Supreme Court issued a temporary block on Friday on a lower court’s order requiring the Trump administration to fully fund the Supplemental Nutrition Assistance Program (SNAP) program amid the government shutdown. 

The decision came shortly after a federal appeals court on Friday denied a Trump administration request to temporarily block the lower court ruling.

On Thursday, U.S. District Judge Jack McConnell rejected the administration’s effort to only partially fund the benefits program for some 42 million low-income Americans for November as the shutdown drags on, giving the government 24 hours to comply. 

‘People have gone without for too long,’  McConnell said in court.

After the appeals court ruling, the Trump administration filed the emergency appeal to SCOTUS late Friday. 

‘Given the imminent, irreparable harms posed by these orders, which require the government to transfer an estimated $4 billion by tonight, the Solicitor General respectfully requests an immediate administrative stay of the orders pending the resolution of this application by no later than 9:30pm this evening,’ an administration spokesperson told Fox News. 

New York Attorney General Letitia James responded to the Supreme Court decision Friday, calling it a ‘tragedy.’ 

‘This decision is a tragedy for the millions of Americans who rely on SNAP to feed their families. It is disgraceful that the Trump administration chose to fight this in court instead of fulfilling its responsibility to the American people,’ she said in a statement. 

The Supreme Court ruling came after the U.S. Department of Agriculture on Friday said it is working to comply with a judge’s order to fully fund the program for November. 

In a letter sent to all regional directors of the SNAP program on Friday, Patrick Penn, deputy undersecretary for USDA’s Food, Nutrition and Consumer Services, said, ‘FNS is working towards implementing November 2025 full benefit issuances in compliance with the November 6, 2025, order from the District Court of Rhode Island.’

He added, ‘Later today, FNS will complete the processes necessary to make funds available to support your subsequent transmittal of full issuance files to your EBT processor.’

Penn said the department would keep regional directors ‘as up to date as possible on any future developments and appreciate your continued partnership to serve program beneficiaries across the country. State agencies with questions should contact their FNS Regional Office representative.’

He scolded the Trump administration for failing to comply with the order he issued last week, which required the U.S. Department of Agriculture to fund the SNAP benefits programs before its funds were slated to lapse on Nov. 1, marking the first time in the program’s 60-year history that its payments were halted. 

The judge also said Trump officials failed to address a known funding distribution problem that could cause SNAP payments to be delayed for weeks or months in some states. He ordered the USDA to tap other contingency funds as needed.

‘It’s likely that SNAP recipients are hungry as we sit here,’ McConnell said Thursday. 

Trump administration officials said in a court filing earlier this week that they would pay just 65% of the roughly $9 billion owed to fund the SNAP program for November, prompting the judge to update his order and give the administration just 24 hours to comply.

‘The evidence shows that people will go hungry, food pantries will be overburdened, and needless suffering will occur,’ McConnell said. ‘That’s what irreparable harm here means.’

Fox News’ Breanne Deppisch contributed to this report. 

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The Trump administration on Friday intensified its dispute with South Africa, saying no U.S. government official will attend the G20 Summit in Johannesburg in protest of what it describes as state-backed discrimination against White Afrikaners.

‘The lives and property of Afrikaners have been endangered by politicians who incite race-based violence against them, threaten to confiscate their farms without compensation, and prop up a corrupt race-based scoring system that discriminates against Afrikaners in employment,’ State Department Deputy Principal spokesperson Tommy Piggott told Fox News Digital.

‘South Africa must immediately end all government-sponsored discrimination against Afrikaners and condemn those who seek to ignite racial violence against them.’

Trump wrote on Truth Social on Friday that it’s a ‘total disgrace’ the G20, scheduled for Nov. 22 to Nov. 23, will be held in South Africa.

‘Afrikaners (People who are descended from Dutch settlers, and also French and German immigrants) are being killed and slaughtered, and their land and farms are being illegally confiscated,’ the president said. ‘No U.S. Government Official will attend as long as these Human Rights abuses continue. I look forward to hosting the 2026 G20 in Miami, Florida!’

Afrikaners have faced increasing hostility from some politicians who have called for violence against them and the threat of land confiscation.

South Africa’s Expropriation Act of 2024 allows the government to take land for public use, including in some cases without compensation — a policy the government says is aimed at addressing racial inequities in ownership, but one that critics warn could unfairly affect White Afrikaner farmers.

Trump confronted South African President Cyril Ramaphosa at the White House in May, pressing him on ‘White genocide’ in the country. Ramaphosa vehemently denied the claims. 

‘There is just no genocide in South Africa,’ he said. ‘We cannot equate what is alleged to be genocide to what we went through in the struggle because people were killed because of the oppression that was taking place in our country. So you cannot equate that.’

Trump played a video in the Oval Office of white crosses along a highway that he said depicted burial sites of White farmers.

‘Have they told you where that is, Mr. President?’ Ramaphosa asked. ‘I’d like to know where that is because this I’ve never seen.’

A senior State Department official told Fox News Digital that the Trump administration set a refugee cap for fiscal year 2026 of 7,500, with a majority of the spots reserved for Afrikaners fleeing what it describes as government-sponsored race-based discrimination in South Africa.

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New York Democrats embraced socialism when they elected Zohran Mamdani to lead the nation’s largest city, but the verdict is still out on whether New York City’s shift to the left is an outlier or the beginning of a broader political realignment.

From California’s redistricting success to gubernatorial races in Virginia and New Jersey, Democrats dominated the most closely watched contests of 2025 – results that could be considered a referendum on President Donald Trump’s sweeping, second-term agenda.

As Mamdani rises to political fame, a slate of fellow progressives are vying to ensure that his victory signals the beginning of a new era in progressive politics.

Aftyn Behn

Aftyn Behn, a former healthcare community organizer and current Democrat state representative, recently secured the Democratic nomination to represent Tennessee’s 7th Congressional District.

The Dickson County Democratic Party described Behn as ‘our very own AOC of TN,’ referring to ‘Squad’ member Rep. Alexandria Ocasio-Cortez, D-N.Y., according to The Tennessee Star.

On her campaign website, Behn describes herself as a ‘pissed-off social worker’ who was inspired to run for the House of Representatives after Congress passed Trump’s One Big Beautiful Bill Act earlier this year.

Behn is running in Tennessee’s special election on Dec. 2 to replace Rep. Mark Green, R-Tenn., who retired from Congress earlier this year.

Kat Abughazaleh

Kat Abughazaleh, 26, is the progressive Gen Z candidate running for Illinois’ 9th Congressional District next year.

She was indicted on federal charges in October after protesters allegedly attacked an Immigration and Customs Enforcement (ICE) vehicle outside a Chicago suburb facility in September.

Viral videos of Abughazaleh obstructing the ICE vehicle and being shoved the ground by an agent outside the Broadview ICE facility on Sept. 19 became flash points in the divisive debate over Trump’s deportation rollout.

Abughazaleh is a former journalist and activist who frequents protests outside the ICE facility in Broadview, Illinois.

She has accused Homeland Security Secretary Kristi Noem of perpetrating ‘crimes against humanity.’

Abughazaleh garnered national attention earlier this year for questioning why it’s controversial that illegal immigrants should have access to taxpayer-funded healthcare.

‘I don’t have health insurance, and I’m running for Congress,’ the young progressive’s campaign website reads.

Saikat Chakrabarti

Saikat Chakrabarti arrived on the political scene during the rise of the ‘Squad,’ running Ocasio-Cortez’s successful 2018 congressional campaign and then serving as her chief of staff.

The progressive met Ocasio-Cortez when he launched ‘Justice Democrats,’ a political action committee committed to recruiting a new generation of leaders.

Now, Chakrabarti has become the generational candidate himself. Earlier this year, he announced his campaign to challenge House Speaker Emerita Nancy Pelosi for her congressional district in San Francisco.

On Thursday, Pelosi announced her intention to retire from Congress at the end of next year, teeing up an already competitive Democratic primary expected with state Sen. Scott Wiener also in the race to replace Pelosi. 

Chakrabarti said it was time for ‘totally new leadership’ in Washington, D.C.

His policy platform includes a long list of progressive promises, including Medicare for All, a wealth tax on the ultra-rich, millions of units of housing, a ban on congressional stock trading and an end to military funding to Israel.

During a phone interview, Chakrabarti told Fox News Digital that his main focus is fixing the ‘underlying economic anxieties that most Americans are facing’ — the same ‘plan for bold, sweeping economic change’ that landed Trump back in the White House last year and was successful for Mamdani this year. 

Chakrabarti’s said a new generation of candidates, like himself, have been inspired to run since witnessing ‘the complete failure of the Democratic political establishment.’

‘I think the people are feeling that the Democratic Party, the establishment, is just sort of weak and slow moving and unable to face the moment,’ he added.

Chakrabarti’s first campaign commitment, according to his website, is to stop Trump’s ‘authoritarian coup.’

The congressional candidate described Trump’s ICE-led deportation rollout as ‘a flagrant violation of our constitutional rights and the freedom of speech and everything we hold dear in this country.’

When asked if the party is moving to the left in response to Trump’s second term, he said, ‘It’s not really a left versus right thing.’

‘I think people are looking for real solutions to the problems. People are looking for a change to the system, and I don’t think Donald Trump is doing it, but that’s what Donald Trump articulated in his campaign.’

Overall, Chakrabarti said voters are ‘very sick and tired of corruption’ and the ‘old guard’ that he described as only looking out for themselves, rather than their constituents.

Chakrabarti congratulated Mamdani’s win in a social media post on Tuesday, telling his followers that Mamdani won because he stood for ‘real, bold change.’

‘That’s what we’re doing here in San Francisco,’ Chakrabarti said, comparing his own campaign to Mamdani’s.

Dr. Abdul El-Sayed

Dr. Abdul El-Sayed is one of several progressive candidates vying for Michigan’s open U.S. Senate seat next year.

‘Abdul literally wrote the book on Medicare for All,’ according to his campaign website. He wrote ‘Medicare for All: A Citizen’s Guide,’ explaining how the U.S. healthcare system can provide affordable care to all Americans.

El-Sayed led Detroit’s Health Department after its bankruptcy and restructured Wayne County’s Department of Health, Human & Veterans Services. In 2020, he helped President Joe Biden craft policies to help lower prescription drug prices.

He believes in abolishing medical debt and that students deserve debt-free and tuition-free two-year apprenticeship programs or a four-year college education.

Abdul El-Sayed celebrated Mamdani’s success on social media this week, when he wrote, ‘Yesterday, voters reminded us how big America can be.’

Graham Platner

Graham Platner is challenging Sen. Susan Collins, R-Maine, in 2026. He is a Marine and a U.S. Army veteran and an oyster farmer.

On Nov. 4, he said he would not be mourning the death of former Vice President Dick Cheney.

‘As a veteran of the Iraq war, I am going to say: No, not this time.’

Between 2020 and 2021, Platner posted and has since deleted Reddit posts calling himself a ‘communist,’ which he recently said he was ‘joking’ about.

Platner has faced calls for him to drop out of the Senate race, and a top campaign staffer resigned after he faced backlash for photos revealing that he had a tattoo resembling the Totenkopf used by Hitler’s SS paramilitary forces.

According to his website, among his campaign promises, Platner supports Medicare for All and ‘a clear-eyed condemnation of the Gaza genocide.’

Fox News Digital reached out to Behn, Abughazaleh and Platner for comment but did not immediately receive a response. 

Fox News Digital’s Anders Hagstrom contributed to this report.

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President Donald Trump has urged Senate Republicans to abolish Obamacare and reroute federal health care spending directly to individual Americans.

In a Truth Social post Saturday morning, Trump wrote: ‘I am recommending to Senate Republicans that the Hundreds of Billions of Dollars currently being sent to money sucking Insurance Companies in order to save the bad Healthcare provided by ObamaCare, BE SENT DIRECTLY TO THE PEOPLE SO THAT THEY CAN PURCHASE THEIR OWN, MUCH BETTER, HEALTHCARE, and have money left over.’

‘In other words, take from the BIG, BAD Insurance Companies, give it to the people, and terminate, per Dollar spent, the worst Healthcare anywhere in the World, ObamaCare.’

‘Unrelated, we must still terminate the Filibuster!’

This is a developing story. Please check back for updates.

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Rep. Thomas Massie — a Republican fiscal hawk facing a President Donald Trump-backed primary challenger in Kentucky — has previously described himself as ‘America First,’ but now he says he thinks that he’s ‘America only.’ 

‘I am tired of sending money overseas,’ he told Fox News Digital during an interview on Thursday. 

‘I am tired of favoring foreign beef over U.S.A.-grown beef,’ he continued. ‘I’m ready to be America only. And I think all congressmen should be that way.’

Massie gave Trump a mixed review, saying that the president is America First on ‘some’ fronts.

‘But when it comes to the beef, he is not America first. When it comes to sending money overseas to Ukraine and Israel,’ Massie said, ‘I think he needs to get back to his campaign promises and put America first. Because we’re not gonna make America great again by sending our money overseas.’

Massie noted that his ‘biggest disagreement’ with both the Trump administration and House Speaker Mike Johnson, R-La., is the increase in spending.

‘I mean, I thought we were conservatives. Why are we spending more this year than Joe Biden spent in his last year? Actually, we’re spending about $200 billion dollars more,’ he said, adding that the consequence ‘is inflation and higher interest rates.’

‘And people are feeling that. You can’t gaslight them,’ Massie added. ‘You can’t tell them that things are getting cheaper when they’re not getting cheaper.’

In a statement to Fox News Digital, White House spokesman Kush Desai accused Massie of ‘Fake Math.’ 

‘Here are the facts: President Trump’s Working Families Tax Cut Act cut mandatory spending by $1.5 trillion over the next 10 years, and the budget deficit from April to September of this year is down a staggering 40% compared to last year, when Joe Biden was president,’ Desai declared in the statement.

‘Instead of Fake Math, Thomas Massie should reflect on how he betrayed his voters and hardworking Americans when he voted with every Democrat against the biggest tax cut for working families in American history, including no tax on tips, no tax on Social Security, no tax on overtime pay, increased child tax credits, and permanence for the 2017 Trump Tax Cuts,’ he added.

Massie said his other disagreements with what has been happening in D.C. are ‘secondary’ to the spending issue.

‘I would say, we need to follow through on some of our campaign promises. For instance, release the Epstein files,’ he said.

Massie and Rep. Ro Khanna, D-Calif., have been spearheading a bid to force a House vote on a proposal that would compel the release of materials pertaining to Jeffrey Epstein. 

Their discharge petition has amassed 217 of the 218 signatures needed to force the vote, but Democratic Rep.-elect Adelita Grijalva, who has said she will sign on, has still not yet been sworn in to office more than six weeks after winning a special election in Arizona.

Johnson ‘has tried every which way he can to avoid this vote,’ Massie claimed, asserting that the speaker has not sworn in the Democrat because she ‘represents the 218th signature I need to force a vote on releasing the Epstein files.’

Fox News Digital reached out to Johnson’s office for comment.

Massie, who owns cattle himself, said the president has ‘sort of gut punched the cattle ranchers and… livestock farmers’ in the U.S.

During remarks aboard Air Force One last month, Trump indicated the U.S. was considering buying beef from Argentina to drive down prices. 

Days later Reuters reported that a White House official indicated that the administration was quadrupling the nation’s low-tariff imports of beef from the South American nation. Increasing the tariff rate quota to 80,000 metric tons will allow Argentina to send greater quantities of the product to America at a lower rate of duty, according to the outlet.

The president has Massie in his political crosshairs — he has repeatedly reviled the congressman on Truth Social.

In a post on Monday, Trump referred to Massie as ‘a Weak and Pathetic RINO’ — a pejorative acronymn that stands for ‘Republican in name only.’ He also called the congressman ‘a totally ineffective LOSER,’ while expressing his support for primary challenger Ed Gallrein, who Trump is backing in the race.

Even as the president tries to convince voters in Kentucky’s 4th Congressional District to reject Massie, the lawmaker said that he does not regret endorsing Trump ahead of the 2024 election, noting that former Vice President Kamala Harris would have been a total ‘disaster.’

Massie initially backed Florida Gov. Ron DeSantis in the GOP presidential primary, but DeSantis dropped out and backed Trump, and Massie later endorsed the Republican juggernaut as well.

‘And I’m glad that President Trump won,’ he said. 

Trump has ‘done a lot of good things,’ he said, adding that many of them have been carried out via executive order, and he thinks Congress should vote on more of the issues so that the president’s moves are not simply ‘temporary actions.’

Asked whether he’d have any interest in potentially running for president himself, Massie said that he is not interested.

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Plus, we break down next week’s market catalysts to watch to help you prepare for the week ahead.

In this article:

    This week’s tech market round-up

    The tech space was marked by heightened volatility this week, with sharp swings driven by concerns over inflated artificial intelligence (AI) valuations and mixed economic data.

    Global markets gained early in the week, driven by optimism over a US-China trade truce, along with a US$38 billion AI cloud deal between OpenAI and Amazon (NASDAQ:AMZN).

    However, gains were tempered following comments from the Global Financial Leaders’ Investment Summit in Hong Kong, where Goldman Sachs (NYSE:GS) CEO David Solomon warned of a likely 10 to 20 percent pullback in equities within the next 12 to 24 months. Other panelists at the event offered similar projections.

    Futures tracking the S&P/TSX Composite Index (INDEXTSI:OSPTX) weakened ahead of the release of Canada’s federal budget, which promises C$925.6 million for sovereign compute capacity, quantum tech funding and support for open banking and stablecoins. The government aims to attract C$500 billion in private sector investment over five years.

    US tech stocks sold off again on Wednesday (November 5) amid uncertainty over the Supreme Court’s tariff ruling and short positions by Michael Burry on NVIDIA (NASDAQ:NVDA) and Palantir Technologies (NASDAQ:PLTR).

    A stronger-than-expected ADP report helped stabilize the tech sector midday, but October jobs data weighed on markets again Thursday (November 6), cooling risk appetite, especially for AI momentum stocks.

    Wall Street’s main indexes extended losses to a second session on Friday (November 7) and posted weekly declines as the Volatility Index (INDEXCBOE:VIX) hit its highest level in a fortnight, just one week after the S&P 500 (INDEXSP:.INX) and Nasdaq Composite (INDEXNASDAQ:.IXIC) notched their longest winning streak in four and seven years, respectively.

    Traders were pricing in a 70.2 percent chance of a 25 basis point interest rate cut from the US Federal Reserve in December at the time of this writing, down from 90 percent last week.

    3 tech stocks moving markets this week

    1. Palantir Technologies (NASDAQ:PLTR)

    Palantir reported a strong Q3 earnings beat with a year-on-year revenue increase of 63 percent to US$1.18 billion, exceeding analyst expectations of US$1.09 billion.

    Earnings per share were also above forecasts, coming in at US$0.21 compared to expectations of US$0.17.

    The company’s total contract value rose to US$2.76 billion, a record high, driven by a 121 percent rise in US commercial revenue and a 52 percent increase in US government revenue.

    The company also raised its full-year 2025 revenue guidance to around US$4.4 billion, driven by continued strong AI demand and government contracts. On the earnings call, management expressed confidence in continued growth fueled by AI, emphasizing strategic partnerships with companies like NVIDIA, while acknowledging challenges in the European market and operational scaling.

    However, Palantir’s share price dropped about 3 percent in after-hours trading. Analysts attributed the market reaction to concerns over the prolonged US government shutdown potentially impacting contracts, alongside a large bearish bet revealed by Michael Burry’s fund.

    The company’s stock is down 14 percent for the week.

    2. Amazon (NASDAQ:AMZN)

    Shares of Amazon rallied on Monday morning after announcing a US$38 billion multi-year partnership with OpenAI to run its advanced AI workloads on Amazon Web Services (AWS) infrastructure, providing access to hundreds of thousands of NVIDIA GPUs and specialized AWS chips.

    The deal significantly strengthens AWS’s position in the AI cloud market. Investors had a marked reaction to the news, driving Amazon’s shares price to a record high of US$US$254.

    However, gains were partially erased during the broader tech sector pullback. Its stock ultimately closed the week down 4.28 percent.

    3. NVIDIA (NASDAQ:NVDA)

    Shares of NVIDIA have been dragged down this week due to valuation concerns and fears related to US export restrictions on advanced AI chips to China.

    During a 60 Minutes interview with Norah O’Donnell on Sunday (November 2) evening that covered a range of topics, President Trump stated NVIDIA’s most advanced AI chips would be reserved exclusively for US companies. The market reacted by sending shares of NVIDIA (up or down?) on Monday morning.

    Also on Monday, Microsoft provided an update on its US$15.2 billion planned investment in the UAE, which will include increasing its AI computing power in the UAE by four times to reach the equivalent of 60,400 NVIDIA A100 GPUs in compute power in the country.

    NVIDIA shares, also boosted by Loop Capital raising its price target by US$100, rose by over four percent from Friday’s closing price in early trading.

    However, a large bearish position against NVIDIA was disclosed from Burry’s fund on Wednesday, adding to downward pressure already on its shares amidst a tech stock sell-off.

    During a Thursday press conference, White House Press Secretary Karoline Leavitt told reporters that Trump “was not interested in selling (the Blackwell chip) to China at this time”.

    Meanwhile, during the Financial Times’ Future of AI Summit, NVIDIA CEO Jensen Huang said the West is being held back by “cynicism” and reportedly told the outlet, “China is going to win the AI race.”

    Huang has previously warned that US restrictions could backfire by accelerating China’s domestic chip development, arguing the US should stay engaged with Chinese developers to maintain leadership. The company’s shares are down 9.53 percent for the week.

    NVIDIA, Palantir and Amazon performance, November 3 to 7, 2025.

    Chart via Google Finance.

    Top tech news of the week

          Tech ETF performance

          Tech exchange-traded funds (ETFs) track baskets of major tech stocks, meaning their performance helps investors gauge the overall performance of different sectors.

          This week, the iShares Semiconductor ETF (NASDAQ:SOXX) declined by 4.81 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) saw a weekly loss of 5.2 percent.

          The VanEck Semiconductor ETF (NASDAQ:SMH) decreased by 5.41 percent.

          Tech news to watch next week

          Next week, investors will hear earnings results from Cisco Systems (NASDAQ:CSCO), due to report its Q1FY26 earnings on November 12. The company is expected to deliver a year-on-year increase in earnings on higher revenues. Semiconductor equipment supplier, Applied Materials, is also set to report its Q4 earnings on November 13.

          AMD will have its Financial Analyst Day on Tuesday (November 11), providing further strategic updates and outlook.

          Analysts and investors will also be watching for any sign of an end to the 38-day government shutdown after Senate Minority Leader Chuck Schumer (D-NY) unveiled a plan to attach a one year extension to the expiring Obamacare subsidies and to create a bipartisan committee that could negotiate further on how to deal with the subsidies after the government reopened. Majority leader John Thune reportedly told CBS News that the Democratic proposal is a ‘nonstarter’.

          Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

          This post appeared first on investingnews.com

          Lobo Tiggre, CEO of IndependentSpeculator.com, shares why copper is his highest-confidence trade for 2026, as well as when he will consider buying.

          ‘I now have probably more cash to put into play than I’ve ever had sitting on the sidelines waiting for this copper buying opportunity,’ he said.

          Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

          This post appeared first on investingnews.com

          Statistics Canada released October’s job numbers on Friday (November 7). The data showed a surprise expansion of the Canadian labor market with the addition of 67,000 new jobs during the month, as well as a 0.2 percent drop in the unemployment rate to 6.9 percent.

          This marks the second consecutive monthly increase, following 60,000 new workers entering the market in September. The gains over the two-month period also offset the cumulative 106,000 losses that were recorded in July and August.

          The biggest gains came in the wholesale and retail trade sector, which added 40,700 new jobs; followed by transportation and warehousing, which added 29,500; and information, culture and recreation, which added 25,200.

          The report comes just days after the federal Liberal Party tabled its first budget since winning the election in April. The budget estimates an initial deficit of C$78 billion in 2025-26, which would slowly decline to C$57 billion in 2030.

          The budget places greater focus on nation-building, strengthening climate competitiveness, streamlining government activities and reducing annual operational costs by C$13 billion by 2029, while maintaining critical social supports.

          Highlighting the budget is a promise for a C$51 billion investment over 10 years for local infrastructure projects and a C$81.8 billion over five years for defence spending C$72 billion of which will be new money.

          On the mining side of the equation, the Mining Association of Canada said on Tuesday (November 4) that it applauds the budget for several measures aimed at the Canadian mining sector.

          Among them, C$2 billion over five years will be directed to Natural Resources Canada to create the Critical Minerals Sovereign fund, which will be used to invest in critical mineral projects and companies.

          The budget will also move the existing Critical Minerals Infrastructure Fund into the new First and Last Mile Fund, which will focus investment into near-term projects to get them to production sooner, and provide tax measures so companies can write off capital investments more quickly.

          The Mining Association also highlighted the proposed expansion of the Critical Mineral Exploration Tax Credit to include an additional 12 minerals, including bismuth, cesium, manganese, tin and tungsten.

          Additionally, the budget indicated that its focus on investing in clean technologies and carbon capture to reduce emissions would eventually render oil and gas emission caps unnecessary.

          For more on what’s moving markets this week, check out our top market news round-up.

          Markets and commodities react

          Canadian equity markets were down this week.

          The S&P/TSX Composite Index (INDEXTSI:OSPTX) lost just 0.15 percent over the week to close Friday at 29,912.19.

          Meanwhile, the S&P/TSX Venture Composite Index (INDEXTSI:JX) had a much more challenging week, falliing 7.63 percent to 885.31. The CSE Composite Index (CSE:CSECOMP) also had a bad week, plunging 7.35 percent to close out the week at 163.51.

          The gold price ended the week flat, closing at US$4,000.20 per ounce by 4:00 p.m. EST Friday. The silver price fell slightly, dropping 0.66 percent to US$48.35.

          Meanwhile, in base metals, the copper price shed 2.72 percent to US$5.01 per pound.

          The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) fell 0.2 percent to end Friday at 553.62.

          Top Canadian mining stocks this week

          How did mining stocks perform against this backdrop?

          Take a look at this week’s five best-performing Canadian mining stocks below.

          Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

          1. Quarterback Resources (CSE:QB)

          Weekly gain: 160 percent
          Market cap: C$11.36 million
          Share price: C$1.3

          Quarterback Resources is an exploration company focused on exploring the Twin gold property in Northwest British Columbia, Canada.

          The project is located in the Omineca Mining District near Fort St. James, and consists of 16 mineral claims covering 11,110 hectares. The site has a history of mineral exploration dating back to the 1970s, including 109 drill holes.

          Quarterback holds an option to acquire a 100 percent stake in the property through an earn-in agreement in exchange for C$800,000 in cash payments and C$4.74 million in exploration expenditures over a six-year period.

          According to a technical report released in November 2024, the company relogged three of the historic holes from the Takla-Rainbow zone, with one hole returning a grade of 2.26 parts per million (ppm) gold, 2.15 ppm silver and 0.19 percent copper over 22.52 meters.

          Shares in Quarterback were up significantly this week. Its most recent news came on Wednesday (November 5) when it filed its monthly progress report on the Canadian Securities Exchange website. The company noted that it was proceeding with a Phase 1 exploration program, which is planned to include LIDAR and induced polarization surveys.

          2. Mont Royal Resources (TSXV:MRZL)

          Weekly gain: 62.5 percent
          Market cap: C$47.55 million
          Share price: C$0.26

          Mont Royal Resources is an Australia-based exploration company focused on a trio of projects in Québec, Canada. The company began trading on the TSXV on November 5 following a merger with Canada-based Commerce Resources.

          The merger combined Commerce’s Ashram rare earth and flourspar project and Eldor niobium projects, with Mont Royal’s existing Northern Lights gold-copper-lithium project, all of which are located in Quebec.

          In the October 22 news release announcing the completion of the merger, it stated its core focus would be on the Ashram rare earth and flourspar project and that the deal provided a compelling opportunity to establish a new source of rare earths in North America.

          Ashram, located near Nunavik, Quebec, has received more than AU$50 million in investment for exploration activities, development studies and resource definition.

          According to the project page, a mineral resource estimate from April 2024 produced an indicated resource grading 1.89 percent total rare earth oxides (TREO) and 6.6 percent fluorspar from 73.2 million metric tons of ore.

          Although the company did not release project news this week, two of its projects contain minerals that were added to the CMETC as part of the fall budget.

          3. Royalties Inc. (CSE:RI)

          Weekly gain: 38.46 percent
          Market cap: C$11.36 million
          Share price: C$0.09

          Royalties is focused on building cash flow through the acquisition of mineral and music royalty assets.

          The company has a 100 percent interest in the Bilbao silver property in Zacatecas, Mexico, which hosts silver, zinc and lead deposits. As silver prices improve, the company is seeking to monetize the property.

          In June, the company reported that its subsidiary, Minera Portree, won its lawsuit against Capstone Copper (TSX:CS,OTC Pink:CSCCF), asserting its ownership of a 2 percent net smelter return royalty on five mineral concessions at the Cozamin copper-silver mine in Zacatecas.

          The protracted legal dispute began after Capstone re-assigned the royalty to itself through a 2019 contract without informing or paying Minera Portree.

          Under the terms of the judgment, the 2 percent NSR will revert back to Minera Portree along with royalties for the exploitation of concessions between 2002 and 2019. The amounts for those royalties will be set at the execution phase. Capstone Gold is also ordered to pay royalties from the Portree 1 concession from August 2019 to present.

          While Capstone appealed the decision, Royalties announced on Thursday (November 6) that an appellate court had upheld the original June decision, deeming the appellant’s arguments inoperative and inadmissible.

          4. Africa Energy (TSXV:AFE)

          Weekly gain: 31.82 percent
          Market cap: C$64.69 million
          Share price: C$0.145

          Africa Energy is a South Africa-focused oil and gas exploration and development company.

          Its flagship asset is Block 11B/12B located approximately 175 kilometers off the south coast of South Africa. The block covers an area of 18,734 square kilometers and depths between 200 meters and 1,800 meters.

          It holds a 4.9 percent interest in the asset through its investment in Main Street 1549, a 49/51 joint venture with Arostyle Investments. The three other partners in the asset announced plans to withdraw from the Block 11B/12B joint venture in July 2024, and announced a definitive agreement for the new ownership structure of the Block 11B/12B asset in May of this year.

          The restructuring would result in Africa Energy holding a 75 percent stake in the block, with Arostyle Investments holding the remaining 25 percent. This is contingent on the asset being granted the production rights, which requires approval of its environmental and social impact assessment.

          Shares in Africa Energy were up this week. Its most recent news came on October 9, when it provided an operational update from Block 11B/12B. The company announced that it had been granted an extension to submit its environmental and social impact assessment until May 4, 2026.

          5. Highland Critical Minerals (CSE:HLND)

          Weekly gain: 26.87 percent
          Market cap: C$79.73 million
          Share price: C$4.25

          Highland Critical Minerals is an exploration company focused on advancing its flagship Church lithium property in Ontario, Canada.

          The project, located near Thunder Bay, Ontario, is situated within the Quetico region. A preliminary exploration program at the property conducted in August 2023 discovered five pegmatites hosting quartz, feldspar and muscovite and returned high lithium grades up to 3 percent lithium dioxide.

          In addition to Church, Highland has been working to acquire other critical mineral properties, with the most recent announced on Friday. In the news release, the company said it had entered into a binding letter of intent to acquire mining claims covering 3,138.874 hectares in the Yathkyed Lake Greenstone Belt in Nunavut, Canada, expanding Highland’s critical mineral portfolio.

          FAQs for Canadian mining stocks

          What is the difference between the TSX and TSXV?

          The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

          How many mining companies are listed on the TSX and TSXV?

          As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

          Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

          How much does it cost to list on the TSXV?

          There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

          The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

          These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

          How do you trade on the TSXV?

          Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

          Article by Dean Belder; FAQs by Lauren Kelly.

          Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

          Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

          This post appeared first on investingnews.com

          Rich Checkan, president and COO of Asset Strategies International, shares his thoughts on the recent pullback in gold and silver prices, emphasizing that both still have room to run.

          In his view, silver is set to outpace gold in 2026.

          Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

          This post appeared first on investingnews.com

          Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) (the ‘Company’, or ‘Surface Metals’) has granted 250,000 options priced at $0.255 to a consultant, and directors and officers have voluntarily surrendered 499,999 options issued on April 14, 2022 at $3.84 (post consolidation).

          As per the press release announced on October 29th, 2025, IDR Marketing Inc. ‘IDR’, has been retained for a six month period commencing October 29th to provide public relations strategies, brand awareness, financial and digital marketing services to the Company. IDR is a California Corporation with its registered office located at 100 Oceangate, 12th Floor, Long Beach, CA, USA, 90802. Its principal and president is Linda Josey, an arm’s-length party. Contact details: linda@idrmarketing.com (562) 343-7483.

          IDR Marketing Inc. is an independent ad agency providing full-scale integrated marketing and advertising services. Clients trust IDR for brand strategy and awareness, digital marketing, social media and advertising, newswire distribution, article marketing,

          About Surface Metals Inc.

          Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) is a North American mineral exploration company focused on advancing a diversified portfolio of gold and lithium projects in Nevada, USA, and Manitoba, Canada. The Company’s Cimarron Gold Project is located in Nye County, Nevada, in a historically productive gold district. Surface’s Clayton Valley Lithium Brine Project hosts an inferred resource of approximately 302,900 tonnes LCE adjacent to Albemarle’s Silver Peak Mine. Surface Metals is also advancing lithium projects in Fish Lake Valley, Nevada, and through a joint venture with Snow Lake Energy in southeastern Manitoba.

          On behalf of the Board of Directors

          Steve Hanson
          Chief Executive Officer, President, and Director
          Telephone: (604) 564-9045
          info@surfacemetals.com

          Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release contains certain statements which may constitute forward-looking information within the meaning of applicable securities laws (‘forward-looking statements’). Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

          To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273738

          News Provided by Newsfile via QuoteMedia

          This post appeared first on investingnews.com