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Global Markets: Possibility of Delayed Brexit

WINNIPEG, Feb. 26 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– North Korean leader Kim Jong Un and United States President Donald Trump arrived in Vietnam on Tuesday for a summit that will outline next steps to implementing North Korea’s pledge to give up its nuclear weapons.

– British Prime Minister Theresa May has offered lawmakers the chance to vote on whether to delay Brexit or move forward with a potentially volatile no-deal exit from the European Union on March 29. The vote will take place on March 13. Lawmakers hope this decision will delay Brexit and minimize the impact on global trade and investment.

– The U.S. housing market report for December was released on Tuesday due to delays caused by the 35-day partial federal government shutdown. The U.S housing market hit a two-year low in December, indicating that the economy lost steam in the fourth quarter. Economists predict the housing market will remain weak throughout the first half of 2019.

– Wall Street was sluggish on Tuesday, reacting to losses in Home Depot and Caterpillar shares. U.S. Federal Reserve Chair Jerome Powell will testify on economic and monetary policy to the Senate Banking, Housing, and Urban Affairs Committee.

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