Global Markets: After making major gains U.S. stock markets dropping

By Commodity News Services Canada

WINNIPEG, Dec. 27 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– A day after making gains unseen since 2008, stock markets in the United Sates were down at the start of trading on Thursday. The NASQAQ leapt by more than five per cent on Wednesday followed by the S&P 500 and DOW having increased by nearly five per cent. However on Thursday morning, the three were down with S&P500 having lost 1.19 per cent, the NASDAQ fell 1.34 per cent and the DOW dropped 1.25 per cent.

– In a poll released Thursday by CIBC, it found 26 per cent of Canadians said their top priority for 2019 is paying down their debt. According to a Statistics Canada report, the average Canadian household’s debt to disposable income ratio is high at 1.74 per cent. This means for every dollar of disposable income, the household owes C$1.74.

– There won’t be a strike at Canadian Pacific Railway as workers belonging to Unifor ratified a new four-year labour agreement. The agreement, negotiated earlier this month, covers approximately 1,200 workers who maintain rail cars and locomotives.

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