By MarketsFarm
WINNIPEG, June 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Jobs growth in the United States beat expectations in May, with the country’s nonfarm payrolls up by 339,000 jobs, according to a report from the Labor Department. The solid jobs data was seen as lessening the need for an interest rate hike from the Federal Reserve this month, especially as wage pressures were also reportedly subsiding. However, with more people looking for work, the unemployment rate rose to 3.7 per cent in May from a 53-year low of 3.4 per cent in April.
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- The U.S. Senate passed legislation raising the country’s debt ceiling in a 63-36 vote, avoiding a default that could have come as soon as June 5. The bipartisan bill was backed by Democratic President Joe Biden and Republican House Speaker Kevin McCarthy, although members of both parties had issues with some of the concessions made.
- As the conflict in Sudan enters its seventh week of fighting between rival military groups, the U.S. imposed sanctions against several firms said to be linked to “perpetuating the violence.” Ceasefire talks were suspended on Thursday, with more than 1,800 people killed in the conflict do date, and an estimated 1.6 million displaced.
