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Noah Zivitz

Managing Editor, BNN Bloomberg

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Justin Trudeau’s Liberal Party has won another mandate, but they’re returning to Ottawa as a minority government after the Conservatives picked up almost 30 seats as a stronger official opposition, and after the Bloc made significant inroads in Quebec. The electoral map illustrates clear party lines, with nearly a clean sweep for the Tories across oil-rich Alberta and Saskatchewan.

Today, we’re going in-depth on all the implications for the economy, your money and Canada’s future, including the outlook for advancing the Trans Mountain expansion project. We’ll explore the regional divide with Tara Weber in Calgary and our CTV News colleagues, gather insight from big names like ex-Bank of Canada Governor David Dodge and former Canopy Growth Chairman Bruce Linton, and have a conversation with Finance Minister Bill Morneau shortly after the opening bells at 9:30 a.m. ET.

CUE STEPHEN POLOZ

The spotlight will gradually shift to the Bank of Canada as a rate decision looms next Wednesday. Today, we get the central bank’s Business Outlook Survey, which provides a unique snapshot of corporate confidence. Plenty of takeaways here for the incoming minority government to consider, too.

EARNINGS SEASON

Canadian National Railway will be the first domestic blue chip to report this earnings season after the bell today (fresh off a recent analyst upgrade from Bank of America, and ahead of our interview with CEO JJ Ruest tomorrow). And Rogers Communications is on tap tomorrow, arguably taking on heightened political interest considering how the Liberals and NDP targeted the telecom sector in their platforms.

We already have some earnings-based movers in the United States: Hasbro shares are falling sharply in the pre-market after the toymaker fell way short of third-quarter profit and revenue estimates, with the CEO pointing damage caused by tariffs. McDonald’s is coming under pressure in early trading after an in line third-quarter profit, but a miss on same-store sales in the U.S. Harley-Davidson shares are rallying after the bike maker beat profit expectations. And Procter & Gamble is moving higher after the consumer goods conglomerate raised its full-year profit outlook.

OTHER NOTABLE STORIES

-We remain on Brexit watch, with U.K. Prime Minister Boris Johnson poised to put his withdrawal legislation to the test in Parliament later today.

-We’ll watch for any official announcement from WeWork today after yesterday’s reports that SoftBank could be poised to take control of the beleaguered workspace company.

-Athletic apparel maker Under Armour announced this morning its founder, Kevin Plank, will step aside as chief executive next year. President and COO Patrik Frisk becomes CEO on Jan. 1

NOTABLE RELEASES/EVENTS

-Notable earnings: CN Rail, McDonald's, Procter & Gamble, Harley-Davidson, UPS, United Technologies, Snap, Texas Instruments

-Notable data: Canadian retail sales, U.S. existing home sales

-Bank of Canada releases Business Outlook Survey (10:30 a.m. ET)

Every morning BNN Bloomberg's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnnbloomberg.ca/subscribe.