Global Markets: U.S. Congress close to COVID-19 relief package

By MarketsFarm

WINNIPEG, Dec. 16 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

United States Congress is close to agreeing on a COVID-19 relief package, totalling less than US$900 billion. The bill may be attached to crucial government spending legislation which is scheduled to pass by the end of the week. House Speaker Nancy Pelosi, Senate Democratic leader Chuck Schumer, Senate Majority Leader Mitch McConnell and House Republican leader Kevin McCarthy are expected to continue meeting on Wednesday morning after talking for several hours Tuesday night.

Bitcoin hit historic highs on Wednesday morning, jumping 4.5 per cent to total over US$20,000. The rally sparked flows of coins from Asa to North America, due to increased interest from U.S. investors.

Tilray announced a merger with Canadian cannabis company Aphria, creating the world’s largest cannabis company by revenue. The combined company will be led by Aphria’s chief executive officer Irwin Simon, while Tilray’s CEO will serve on the board of directors.

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