Global markets: US jobless claims rise

By Commodity News Service Canada

WINNIPEG, September 15 – The following is a glance at the news moving markets globally.

US JOBLESS CLAIMS UP, BUT BELOW EXPECTATIONS
US jobless claims in the week ending September 10 were up 1,000 to a seasonally adjusted 260,000, according to the country’s labour department.

The increase was below analyst expectations, and total claims remain below 300,000, which indicates a healthy labour force.

US RETAIL SALES DROP IN AUGUST
US retail sales dropped from the previous month, according to reports on Thursday.

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American retail sales dropped 0.3 per cent after a 0.1 per cent increase in July.

However, retail sales were up 1.9 per cent compared with the same month the previous year.

CANADA’S NATIONAL WEALTH INCREASES, INVESTMENT POSITION DOWN

National wealth, the total value of non-financial assets in the Canadian economy, rose C$110.3 billion to C$9,443 billion at the end of the second quarter. The main contributor to growth was an increase of C$130.8 billion in the value of real estate, as the value of natural resource wealth declined C$11.3 billion, Statistics Canada said in a report on Thursday.

According to StatsCan, Canada’s net foreign asset position decreased by C$106.8 billion in the second quarter to C$149.0 billion. This was the second consecutive quarter of significant decline. Growth in Canada’s international liabilities exceeded that of international assets, resulting in a decline in Canada’s net foreign asset position.