Global Markets: CP Rail reports record quarterly profits

By MarketsFarm

WINNIPEG, July 17 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Canada’s Consumer Price Index increased by 2.0 per cent on an annual basis in June, which compares with 2.4 per cent the previous month, according to a report from Statistics Canada. A 4.1 per cent decline in energy prices accounted for much of the change.

– Canadian manufacturing sales were up by 1.6 per cent in May, hitting C$58.9 billion, according to Statistics Canada data. That compares with a 0.4 per cent decline the previous month.

– Canadian Pacific Railway reported second quarter earnings of nearly C$2 billion on Tuesday, marking a new quarterly record for the company. Traffic increases in all categories were cited, with grain earnings hitting its third highest level on record at C$422 million.

– The United States House of Representatives passed a symbolic resolution condemning “racist comments that have legitimized fear and hatred of New Americans and people of colour” made by President Donald Trump. All of the House Democrats were joined by four Republicans and one independent in approving the resolution which passed by 240 votes to 187.

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