Finance
This week in Bidenomics: Kamalanomics looks better
After the Federal Reserve cut interest rates by half a point on Sept. 18, President Biden called the move a “declaration of progress.” Inflation isn’t yet whipped, but victory is coming into view.
There’s some other progress that’s important for Democrats. Voters and investors are warming to Vice President Kamala Harris’s economic plan as the Democratic presidential nominee and her Republican opponent, Donald Trump, enter the home stretch of the campaign. Even better for Harris, voters seem to blame her less than Biden for the high inflation of the last three years, which sent Biden’s approval rating into an unrecoverable nose dive.
The Financial Times has now conducted two monthly polls in a row in which voters say they trust Harris more than Trump to handle the economy. When Biden was still in the race, Trump beat him handily on the economy. But Harris inched ahead of Trump in August and expanded that lead slightly in September.
That FT poll looked like an outlier back in August, but other data now shows Harris drawing even with Trump on the economy. The latest Morning Consult poll finds 46% of voters trust both Harris and Trump on the economy. On issues such as the cost of living, housing affordability, and jobs, Harris’s approval rating exceeds Biden’s by 25 percentage points or more. That’s a startling shift, given that Harris’s policies are quite similar to Biden’s and she is, after all, the incumbent.
Read more: What the 2024 campaign means for your wallet: The Yahoo Finance guide to the presidential election
In a recent Quinnipiac poll of swing states, voters in the crucial state of Pennsylvania rate Harris higher than Trump on the economy by two points. She’s two points behind on the economy in Michigan and four points behind in Wisconsin, yet once again, she’s closing a large gap. In University of Michigan surveys, 41% say Harris would be better for the economy, while 38% say Trump would be better, and 15% think it won’t make any difference.
Finally, in monthly surveys of business executives by Oxford Economics, a Trump presidency ranks as the top geopolitical concern during the next year. Worries about the adverse effects of a Trump presidency have climbed for three months in a row, with 43% of respondents now saying another Trump presidential term would pose a significant risk to the global economy. That’s largely because of Trump’s promise to enact sweeping tariffs and deport millions of working migrants. A Harris presidency doesn’t register as a geopolitical risk, as it would, in many ways, represent a continuation of the status quo.
These improving views of a Harris economy and dimming views of a Trump economy aren’t happening in a vacuum. Forecasting firms such as Goldman Sachs crunched the numbers and concluded that Harris’s policies would be better for economic growth than Trump’s. Those types of analyses typically assume each candidate can get Congress to fully enact favored policies by passing legislation, which isn’t always realistic. Yet Trump’s most concerning economic policies — tariffs and deportation — are things he could do largely without congressional approval. Harris’s most disruptive policies — a higher corporate tax rate and a new wealth tax, for instance — would only be possible under a Democratic sweep of Congress and the White House, which seems unlikely.
Read more: Trump vs. Harris: 4 ways the next president could impact your bank accounts
Harris, meanwhile, has focused heavily on pocketbook issues such as more affordable housing, healthcare, and childcare. The Morning Consult survey found such policies to be highly popular, and it also found that voters broadly associate those policies with Harris. Trump has few specific ideas for lowering everyday costs.
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None of this means Harris is cruising to victory. The race remains incredibly close, with the final electoral vote tally likely to come down to small pockets of swing voters in six or seven states. In the Michigan surveys, independent voters seem to favor Trump on the economy, which could spell trouble for Harris among the late-breaking swing voters she’ll need to win.
What Harris seems to be doing, however, is neutralizing what was once Trump’s biggest advantage. As ever, the economy is the top issue for voters, and when Biden was the Democratic candidate, Trump’s edge on the economy was beginning to look indomitable. Before Biden withdrew in July, betting markets gave Trump 66% odds of winning and Biden just 18%, with Harris and other potential Biden replacements making up most of the rest.
The same betting markets now give Harris 52% odds of winning, and Trump 47% odds. That says more about momentum than the actual likelihood of winning, but at the moment, you’d rather have Harris’s mojo than Trump’s. It’s too early for Harris to declare victory, but a declaration of progress would be fitting.
Rick Newman is a senior columnist for Yahoo Finance. Follow him on X at @rickjnewman.
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Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.
Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
Finance
Martha Aguirre, former El Paso ISD interim superintendent, resigns as CFO as district finds ‘key financial challenges’
El Paso Independent School District Chief Financial Officer Martha Aguirre, who served as interim superintendent last year, resigned this week as the district said it had discovered “key financial challenges.”
The district issued a news release late Thursday afternoon that lacked details but indicated that a recent review had raised questions about the district’s fund balances, a key indicator of financial health.
“Through this process, key financial challenges were identified that must be addressed prior to closing out the 2025-26 school year including a current budget shortfall that is being actively addressed ahead of the district’s final financial presentation to the Board of Trustees in June,” the news release said.
A CFO is charged with developing a school district’s budget and overseeing its finance department. The EPISD Board of Trustees must adopt a budget for the 2026-27 school year by the end of the fiscal year June 30. The operating budget for the current school year is $547 million.
EPISD Deputy Superintendent David Bates will oversee the budget while the district searches for an interim and permanent CFO, district officials said in a statement.
EPISD Board President Leah Hanany said trustees were notified about Aguirre’s resignation this week. She said the district plans to give the public more information on the current year’s budget during a board meeting later this month.
“The board was also notified of a potential budget shortfall for the 2025 budget, but we don’t have final numbers yet. My understanding is that we are still primed to pass a balanced budget for fiscal year 2026-27 in June,” Hanany said in a statement.
Aguirre could not be reached for comment. EPISD’s CFO makes $148,200 to $209,900 a year, according to the district’s administrative pay plan.
She served as EPISD’s interim superintendent from June to December 2025 after the district’s former superintendent, Diana Sayavedra, resigned under pressure from the board. She returned to her position as CFO when Brian Lusk was hired as EPISD’s new permanent superintendent.
Aguirre’s resignation comes amid an uncertain budget season after a state funding calculation error tied to school property tax breaks caused EPISD to lose out on $17 million in projected revenue. In late April, EPISD officials estimated it would cause the district’s spending to exceed its revenue next year by $10 million.
The district is also considering calling for a bond election in November to upgrade its aging campuses as part of the larger 2024 Destination District Redesign initiative to close schools and improve the ones that remain open.
El Paso Teachers’ Association President Norma De La Rosa said Aguirre’s departure was unexpected.
“We’re right in the middle of the committee meetings for a possible bond and getting ready to get that budget to the June board meeting for next school year. So, to say that I’m highly surprised is an understatement,” De La Rosa told El Paso Matters.
Aguirre started working with the district in 1996 as a general clerk, according to a video published by the district.
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