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Deere & Co posted a 75% jump in quarterly profit. (Photo: 123RF)

NEWS ESSENTIALS

• The Fed’s minutes would unveil the debate on the next rate hikes. After raising interest rates at breakneck speed this year, the U.S. Federal Reserve took a more nuanced approach this month, seen as a middle ground between officials most concerned about high inflation and others fearful. that larger increases in borrowing costs cause an economic collapse or stress in major markets.

• Rate hikes are starting to take effect, according to the Bank of Canada. The Bank of Canada said on Tuesday that high interest rates are starting to slow the Canadian economy, putting pressure on highly indebted households and people who recently bought a home with an adjustable-rate mortgage.

• Deere benefits from rising prices and posts a profit up 75%. Deere & Co posted a 75% jump in quarterly profit as tight supply of its tractors, combines and sprayers allowed the company to fix prices and offset the impact of rising costs raw material.

• Other protests in a Chinese factory of Foxconn which produces the iPhone. Hundreds of workers joined protests at a major Chinese factory of Foxconn that produces the iPhone, where some people smashed surveillance cameras and windows, footage on social media shows.

• Elon Musk would consider South Korea for a future Tesla factory. According to the South Korean president’s office, Tesla chief executive Elon Musk reportedly said that South Korea was among the main potential sites for the location of an electric vehicle manufacturing plant he plans to build. in Asia.

TRENDS BEFORE OPENING

Futures for Canada’s main stock index are slightly ahead, following the trend seen on Wall Street ahead of the much-anticipated release of the minutes from the latest meeting of US Federal Reserve officials. Oil prices have fallen as G7 members consider a price cap on Russian crude. European equities rose on the release of data indicating that the slowdown in the eurozone eased in November. Chinese stock markets ended the session in positive territory, helped by a new round of support measures for housing finance. The US dollar is up slightly against the Canadian currency and gold prices have fallen.

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