Global Markets: Canadian government has until June 18 to decide on pipeline expansion

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

– Stock futures were slightly up ahead of the long weekend, as experts anticipate the long-awaited release of special counsel Robert Mueller’s report on Russia’s involvement in the 2016 United States Presidential Election. Also, social media platform Pinterest and video conference company Zoom will begin trading shares on the New York Stock Exchange and Nasdaq on Thursday morning.

– The Canadian government will make a final decision on the Trans Mountain pipeline expansion project by June 18. “The government has consistently said that a decision would only be made on the project once we are satisfied that the duty to consult has been met. Through this process, Indigenous groups have told us that more time is needed,” Natural Resources Minister Amarjeet Sohi wrote in a statement Thursday. “The government of Canada remains steadfast in its commitment to do things differently on [the Trans Mountain pipeline expansion], moving the process forward in the right way and following the guidance of the Federal Court of Appeal. This means ensuring that consultations are not only meaningful, but also open and transparent.”

– U.S. retail sales increased by the largest margin since September 2017, thanks largely to increased automobile and gasoline sales, according to a report. A separate report from the Department of Labor showed filings for unemployment benefits have fallen to a 49-year low. Strong labour force data indicates consumers may continue to drive economic expansion amid solid wage gains, low unemployment, and policy makers indicating interest rates will remain on hold this year, according to Bloomberg.

– Special Counsel Robert Mueller’s report on Russian involvement in the 2016 U.S. Presidential Election will be released to Congress today. Attorney General William Barr appeared briefly in a press conference before the release, emphasizing that Mueller did not find evidence of collusion between Russia and the Trump campaign party. “Attorney General (Bill) Barr’s regrettably partisan handling of the Mueller report, including his slanted March 24th summary letter, his irresponsible testimony before Congress last week, and his indefensible plan to spin the report in a press conference later this morning — hours before he allows the public or Congress to see it — have resulted in a crisis of confidence in his independence and impartiality,” House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer said in a statement Thursday morning.


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