WINNIPEG, Aug. 13 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.
– United States consumer prices rose 0.3 per cent in July, mainly due to rising prices for gas, medical care, and housing. Although the rate of inflation is increasing slightly, other economic indicators are more positive. The U.S. economy is in its 11th consecutive year of growth, employment rates are low, and wages are growing modestly, according to The Canadian Press. The U.S. Federal Reserve is still expected to cut interest rates again next month in light of continued trade tensions.
– Hong Kong’s airport has canceled all flights for a second day in a row due to anti-government protests. The disruption comes after weeks of demonstrations and marches. A Chinese official described the protests as “terrorism” to a state-run media outlet. Protestors are targeting the airport due to the potentially crippling economic impact and international attention.
– Russian authorities are telling residents of the village of Nyonoksa to evacuate after a rocket engine accident spiked radiation levels. Russia’s state weather service said radiation levels spiked by up to 16 times last Thursday after an explosion on a sea platform which killed five. It is rumoured that the project may have involved a nuclear-powered cruise missile.