BEFORE THE BELL: US policymakers meet to talk interest rate; Shopify boosts revenue over $200 million
Investor focus is back on US interest rates as policymakers prepare for a two-day meeting. The federal reserve will be discussing interest rates in the US starting today, and some analysts believe the US officials could announce two or three more interest rate hikes this year. This comes as the US Treasury bond yield edges closer to three per cent at 2.95 per cent.
Across the border Stats Can is releasing its GDP report for nationwide industry from January 2017 to February 2018. Bank of Canada head Stephen Poloz will also be in Yellowknife giving a speech on high Canadian debt loads versus the economy.
Ottawa-based Shopify is announcing over $214 million in earnings in its latest quarter, 68 per cent higher than the same quarter in 2017. After trade Apple will release its second quarter report with investors watching to see if iPhone sales have taken a turn for the worse.
Looking back at April experts say it was a money-making month, with the TSX gaining 1.5 per cent on average, which was led by commodity stocks.
This morning the price of crude is down to 67.93 a barrel as gas prices grow steadily across Canada. The Loonie remains steady at 77.77 cents US.