By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Stock in Nvidia jumped five per cent in premarket trade on Thursday, after the artificial intelligence technology giant announced it exceeded revenue forecasts. On Wednesday, Nvidia reported that its third quarter earning were US$31.9 billion, a jump of 65 per cent over Q3 of 2024, as demand for its AI chips remains strong. That saw the company’s value briefly touch US$5 trillion.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- Statistics Canada reported on Thursday that the number of Canadians collecting employment insurance benefits slipped 1.1 per cent in September at 544,000. This marked the second consecutive month the number declined after seven months of increases. StatCan said data from its labour force survey indicated unemployment in September was seven per cent, unchanged from August.
- StatCan also reported on Thursday that Canada’s industrial product price index was up 1.5 per cent in October for the fifth-straight month of increases. When excluding energy and petroleum products, the gain was 1.9 per cent. The agency said the raw materials price index rose 1.6 per cent in October. When crude energy products were left out the increase was 4.2 per cent.
- The number of jobs in the United States grew by 119,000 in September, the Bureau of Labor Statistics said on Thursday. This followed a loss of 4,000 jobs in August after 72,000 were added in July. The jobs report had been postponed from Oct. 3 due to the federal government shutdown. Based on the report, CNN said 36 per cent of investors polled believe the Federal Reserve will cut its interest rates next month while 64 per cent said they think there will be a rate freeze.
