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Global Markets: Boeing 737 Max 8 planes grounded after crash

By Commodity News Service Canada

WINNIPEG, March 11 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Retail sales in the United States increased by 0.2 per cent in January after falling a revised 1.6 per cent the previous month, according to updated data from the Commerce Department. The January data was delayed due to the government shutdown.

– China, Ethiopia and Indonesia have grounded all Boeing 737 MAX 8 aircraft after deadly crash in Ethiopia over the weekend. The crash of an Ethiopian Airlines plane just after takeoff killed all 157 people on-board, including 18 Canadians. The crash follows another 737 Max 8 crash near Indonesia in October that killed 189 people. Boeing shares were down Monday morning.

– Canada produced a record 23.7 million cubic metres (148.9 million barrels) of crude oil and equivalent products in December, according to a report from Statistics Canada. That was up by 5.5 per cent from the same month the previous year. Canada produced a total of 264.6 million cubic metres of oil and products in 2018, which was up by 8.5 per cent from the previous year.

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