By MarketsFarm
WINNIPEG, Nov. 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
Ballots are still being counted across the United States as the 2020 presidential winner is still unclear. CNN projects current president Donald Trump won battleground states of Ohio and Florida, while Democratic nominee Joe Biden won Minnesota. Arizona, Michigan, Pennsylvania, Wisconsin, North Carolina and Georgia remain crucial in the path to the White House. Due to the COVID-19 pandemic, millions of votes across the country were mailed in ahead of election day. Some states processed early ballots first and reported those early in the night, while others saved them for last. Currently, Biden sits at 224 electoral votes, while Trump is at 213. Candidates require 270 electoral votes to win the presidency, though Trump has falsely claimed victory.
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A recent report from Statistics Canada showed Canada’s trade deficit widened to C$3.25 billion in September, following a C$3.21 billion deficit the month prior. Analysts expected September’s deficit to come in at just C$2.6 billion.
U.S. voters in five states voted decisively to legalize marijuana for recreational or medical use, potentially growing the cannabis industry by US$9 billion. Arizona, Mississippi, Montana, New Jersey, and South Dakota all voted in support of legalizing marijuana, making the drug legal in most of the U.S.
