By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada said on Thursday that December retail sales were up 0.9 per cent at C$67.3 billion, with increases in five of the nine subsectors tracked. While the motor vehicle and parts dealer subsector rose 1.9 per cent, that for automotive parts, accessories and tire retailers were down 2.7 per cent. StatCan projected a 0.4 per cent decline in January retail sales.
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- Technology giant Nvidia reported its fourth quarter earnings on Wednesday, which came in at US$24 billion and handily beating analysts’ expectations. As well, Nvidia’s market capitalization for 2023 ballooned by US$400 billion, now at US$1.67 trillion. The 30-year-old corporation based in Santa Clara, Cal. is said to control about 80 per cent of the world market share of high-end graphics processing units and is heavily involved in developing artificial intelligence.
- Reuters reported on Thursday that Iran has supplied Russia with 400 ballistic missiles since Jan. 1. This came after the United Nations Security Council’s restrictions on Iran selling certain missiles and drones expired in October. The sale was said to have deepened ties between the two countries as both remained at odds with the United States and many of its allies.
