By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- United States Vice-President Kamala Harris is said to have received enough support from delegates headed to the Democrats’ convention next month to secure the party’s nomination for president, according to reports on Tuesday. As well, her campaign in its first two days garnered more than US$100 million in donations. Meanwhile, Trump and the Republicans accused Harris of covering up President Joe Biden’s health.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- The Bank of Canada is scheduled to announce its next interest rate announcement on Wednesday. Analysts predicted the BoC will make a second cut following June’s 25-basis-point reduction to 4.75 per cent. Inflation dipped to 2.7 per cent in June which fueled speculation of another rate cut.
- General Motors Company reported a 60 per cent spike in its second quarter profits from a year ago thanks in part to strong consumer demand for its Chevrolet Silverado and GMC Sierra pickup trucks. Also, GM delayed some of its in electric vehicle plants and reduced the amount of stock buybacks.
- India’s finance minister Nirmala Sitharaman presented her budget to the country’s parliament on Tuesday, pledging the equivalent of US$576 billion in spending. Of the total, US$32 billion is to be earmarked for rural programs, US$24 billion for job creation. Sitharaman said the government of Prime Minister Narendra Modi was focused “on employment, small businesses and the middle class.”
