Global Markets: U.S. manufacturing posts gains

By MarketsFarm

WINNIPEG, Nov. 25 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

United States manufactured goods posted gains of 1.3 per cent in October, according to new data from the U.S. Commerce Department. Orders for durable goods also showed gains of 2.1 per cent in September. Economists were concerned U.S. manufacturing firms would face significant challenges due to the COVID-19 pandemic, which may cause demand to suffer.

U.S. unemployment claims rose for a second straight week due to rapidly rising COVID-19 cases causing a new wave of layoffs. According to the Department of Labor, initial jobless claims in regular state programs increased by 30,000, to 778,000 in the week ended Nov. 21.

Eight chief executive officers of Canadian pension funds are calling for a green recovery from the COVID-19 economic downturn. In a published letter, the executives encouraged investors and companies to prioritize sustainability during the economic recovery. In a news release accompanying the letter, Jo Taylor, president and chief executive officer of the Ontario Teachers’ Pension Plan, said “Our objective is to invest in companies that build a better future for their employees and communities while at the same time provide the appropriate risk-adjusted returns to help us meet our promise to our members.”

Futures Prices as of November 25, 2020

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Milling Wheat
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New Barley
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Prices are in Canadian dollars per metric ton

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