Global Markets: U.S. House to vote on debt ceiling bill

By MarketsFarm

WINNIPEG, May 31 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

• The United States House of Representatives will vote Wednesday on a bill to raise the government’s debt ceiling and help avoid a default that could come within the next week. Republicans control the House by 222 to 213, with bipartisan support needed to pass the bill as members of both parties have objected to parts of it.

• The out-of-control wildfire near Halifax has grown to over 800 hectares, with more than 150 homes and businesses already consumed. Thousands of people remain evacuated, with hot and windy conditions creating challenges for firefighters, according to reports.

• Canada’s real gross domestic product rose by 0.8 per cent during the first quarter of 2023, according to a report from Statistics Canada. The increase comes after the economy held steady the previous quarter.

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