By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Reports said Nvidia became the world’s most valuable company on Tuesday after its shares increased 3.5 per cent at US$3.34 trillion. The drive for artificial intelligence has skyrocketed demand for Nvidia’s processing units and the company’s shares have ballooned 1,100 per cent since their low in October 2022.
- Russian President Vladimir Putin signed a deal with North Korean dictator Kim Jong Un on Wednesday, that included a mutual defence pact. The new agreement could lead to a geo-political shift in Asia as China has been North Korea’s main political and economic ally, but despite a defence treaty the two do not collaborate militarily. China has yet to comment on the Russia-North Korean deal.
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- Inflation in the United Kingdom dropped to two per cent in May, down 0.3 of point from April, the Office of National Statistics said on Wednesday. The U.K. consumer price index fell to its lowest level since July 2021 and plummeted from its 41-year high of 11.1 per cent in October 2022. However, analysts remained uncertain about the Bank of England announcing an interest rate cut on Thursday.
- Canada’s population exceeded 41 million people during the first quarter of 2024, according to Statistics Canada on Wednesday. StatCan pegged the country’s population just short of 41.013 million as of April 1, less than year after it eclipsed the 40 million mark.
