Doug Ford’s Ontario government has charted a path back to balanced budgets, albeit five years away. In the meantime, the Progressive Conservatives are taking on U.S. President Donald Trump with a new business-friendly capital writeoff program that lowers the province’s marginal effective tax rate to 12.6 per cent. Finance Minister Vic Fedeli told Greg Bonnell the move was made because the American corporate tax rate was getting “dangerously close” to Ontario’s. We’ll gather reaction from the business community. The Street will have our full interview with Fedeli, including a couple zingers directed at the feds over cannabis supply shortages (“a blunder and a failure”).

TSX TOUCHES 2019 HIGH

The Composite Index climbed all the way to 16,471.83 yesterday before closing with a ho-hum gain of three points. The intraday peak was the TSX’s highest since late August, and just 115 points from a new all-time record. Meanwhile, futures are pointing to a strong open in New York as the first wave of major bank earnings land. JPMorgan was first out of the gate, with record first-quarter profit and revenue, sending shares higher in the pre-market.

CHEVRON BUYING ANADARKO PETROLEUM

It’s a cash-and-stock takeover worth US$33 billion. Chevron is billing it as an opportunity to beef up in “attractive shale, deepwater and natural gas resource basins” and deliver US$2 billion in annual savings. Chevron also says it’s planning to sell up to US$20 billion worth of assets by 2022.

UBER IPO

Lots of talk about corporate culture in Uber’s initial public offering paperwork as the ride-hailing company attempts to assuage any lingering concern about its controversial past. The documentation also reveals US$11.3 billion in revenue for last year, as the annual growth rate slowed to 42 per cent, and a US$3-billion operating loss.

OTHER NOTABLE STORIES

-S&P Dow Jones Indices says Canopy Growth is going to take Goldcorp’s spot in the TSX 60 as a result of the miner’s takeover by Newmont. The switch takes effect April 18.

-Shares of The Walt Disney Co. are up more than three per cent in pre-market trading after CEO Bob Iger undercut Netflix by unveiling his streaming service’s US$6.99 monthly fee. No specific target date for bringing Disney+ to Canada.

-We’ll keep an eye on Dollarama after The Rossy Foundation disclosed late yesterday it will sell almost 2.6 million shares, with proceeds going toward charitable commitments.

-And Manulife Financial COO Linda Mantia is leaving the company in July. The role will be eliminated upon her exit.

NOTABLE RELEASES/EVENTS

-Notable earnings: JPMorgan Chase & Co., Wells Fargo

-Notable data: Teranet/National Bank Canadian home price index, University of Michigan consumer sentiment index

-9:00 a.m. ET: Senate Committee on Energy, the Environment and Natural Resources public hearing on Bill C-69 in Winnipeg

-11:00 a.m. ET: Conservative Party of Canada Leader Andrew Scheer addresses Greater Vancouver Board of Trade

-12:00 p.m. ET: Foreign Affairs Minister Chrystia Freeland holds media avail in Montreal after town hall with students

-2:25 p.m. ET: U.S. President Donald Trump delivers remarks at White House on 5G deployment in the United States

-4:00 p.m. ET: Ontario Securities Commission holds hearing on Mangrove Partners’ application re. TransAlta-Brookfield 

-G20 finance ministers and central bankers meet in Washington, D.C.

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.