By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Fears ramped up on Friday over a possible massacre of Palestinian civilians in fighting between Israeli forces and Hamas militants. The Israeli military began its attack on militants in Rafah, a city in southern Gaza that has been a safe zone. Reports said more than half of the Gaza Strip’s 2.3 million residents fled to Rafah and now have nowhere else to go.
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- Imperial Oil Ltd. reported on Friday that it’s fourth quarter profit in 2023 came in at C$1.37 billion, down from the C$1.73 billion in Q4 of 2022. The company said its Q4 revenues were C$13.11 billion versus the C$14.45 billion the previous Q4. Despite the declines, Imperial upped its dividend payments from 50 cents per share to 60 cents.
- About 353,000 nonfarm jobs were added to the United States economy in January, according to a Labor Department report on Friday. Although the U.S. unemployment rate remained at 3.7 per cent, January’s job growth exceeded analysts’ expectations and surpassed the revised figure of 333,000 positions created in December.
- Tesla issued two recalls on Friday, with one requiring 2.2 million vehicles to have increased fonts installed for their warning lights. The second is for 334,000 vehicles to rectify difficult steering problems. Two months ago Tesla recalled more than two million of its vehicles to replace the advanced driver-assistance system.
