Glacier FarmMedia COVID-19 & the Farm

Global Markets: House votes on impeachment today

By MarketsFarm

WINNIPEG, Dec. 18 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Today, The United States House of Representatives will debate and vote on two articles of impeachment against President Donald Trump. House Republicans had motioned to adjourn ahead of the vote, but the call was shot down. “We feel very strongly that we are compelled by our duty to our oath and the Constitution and our democracy to act today where we have found that the President of the United States has abused his power,” said Rep. Steny Hoyer, a Democrat from Maryland, to CNN. “[Republicans] don’t agree with that, many of them.”

– Statistics Canada has reported that the annual rate of inflation increased in November, pushed mainly by increased gasoline prices. Prices increased by 0.9 per cent year-over-year, after dropping 6.7 per cent in October. The agency said the consumer price index rose 2.2 per cent when compared to a year ago. The consumer price index had been steady at 1.9 per cent from August to October. Inflation was also pushed up by increases in mortgage interest costs, vehicles, and auto insurance premiums.

– Oil futures have back off of three-month highs following reports of high stockpiles in the United States. The American Petroleum Institute reported crude inventories increased by 4.7 million barrels last week, and gasoline stockpiles were up by 5.6 million barrels. That’s “the largest gasoline build since January,” according to Bloomberg, but has not yet been confirmed by official government figures yet.

– SNC-Lavalin’s stocks have halted being traded on Wednesday morning. The Investment industry Regulatory Organization of Canada (IIROC) announced the halt at 8:16 a.m. The company, which has been embroiled in scandal since early 2019, returns to court today in Montreal for a pre-trial hearing for several counts of corruption.


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