By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Tensions in the Middle East ramped up further on Thursday as Pakistan launched missile and drone attacks on targets in Iran. The strikes were in retaliation for Iran having fired missiles at bases in Pakistan operated by Jaish al Adl militants who have carried out numerous attacks in Iran. Pakistan targeted facilities belonging to the Baloch Liberation Front and the Baloch Liberation Army, which have made several attacks inside Pakistan. China, which is allied with Iran and Pakistan, offered to mediate the dispute.
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- Statistics Canada reported on Thursday that investment in building construction rose 1.7 per cent in November at C$19.8 billion. Of that amount, C$13.7 billion was in the residential sector, which grew 2.2 per cent in November. The non-residential sector bumped up 0.4 per cent at C$6 billion.
- StatCan also reported on Thursday the real gross domestic product of Canada’s natural resources sector was down 0.6 per cent in the third quarter of 2023. The agency said there were declines in the energy, minerals and mining as well as hunting, fishing and water subsectors, while forestry saw a small uptick.
- The United States Census Bureau reported on Thursday that the country’s housing starts in December fell to a seasonally adjusted 1.46 million units compared to 1.56 million in November. However, the December 2023 number was higher than the 1.36 million units in the previous December.
