Global Markets: Markets jittery following steep losses

By Commodity News Service Canada

June 26 (CNS Canada) — The following is a glance at the news moving markets in Canada and globally.

– Major stock indexes were mainly flat this morning but remained on edge following Monday’s steep decline in Canadian and U.S. markets with investors jittery about a looming trade war between China and the U.S. News from President Donald Trump that the U.S. may block Chinese-owned companies from owning sensitive tech stocks added to worries.

– The European Union and China have agreed to launch a new group designed to update global trade rules to address irritants such as technology, subsidies and other major issues.

– The debate over how the Canadian government divides transfer payments to provinces promises to flare up again as finance ministers gather for meetings in Ottawa. Saskatchewan, Newfoundland and Labrador, and Alberta are calling for changes to the formula.

– Statistics Canada has released a report on hourly wages by occupation for 2017, showing the average hourly wage for full-time employees, not counting overtime, tips or incentive pay, was $27.60. That’s similar to the year previous. However, average hourly wages posted the largest gains in natural resources and agriculture sector, with a 5% increase to $23.25 for the year.

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