By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Friday that the country’s real gross domestic product for the fourth quarter increased 2.6 per cent on an annualized basis. That surpassed analysts’ projections, including the Bank of Canada’s expectation of 1.8 per cent growth. StatCan said household spending was up 1.4 per cent in Q4 and rose 2.4 per cent on the year.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- In the Ontario election on Thursday, Premier Doug Ford and his Progressive Conservatives won their third consecutive majority. The PCs won/are leading with 80 seats while the New Democrats returned as the official opposition with 27. The Liberals scored official party status with 14 seats, the Greens took two and one independent was elected.
- Ukrainian President Volodymyr Zelenskyy will be the third European leader to meet with United States President Donald Trump this week at the White House. Reports on Friday said Zelenskyy will sign an agreement allowing the U.S. access to the country’s rare minerals, but details are scarce and lacks any security guarantees from further invasions. On Monday, Trump met with French President Emmanuel Macron and on Thursday he met with United Kingdom Prime Minister Keir Starmer.
- While Trump is set to impose 25 per cent tariffs on most goods imported from Canada and Mexico come Tuesday, he said he will slap an additional 10 per cent levy on goods from China as well that day. The latter imports already face tariffs of 10 per cent or more. Trump has often repeated claims that the U.S. fentanyl crisis is due to the drug flowing in from China, Canada and Mexico. Each of the three stated they will take retaliatory measures against the U.S.
