BEFORE THE BELL: Aecon shares likely to be on trader radars; TD and RBC Q2 reports higher than expected
Auto trade could be top of mind for investors today.
Experts say a US national security probe into auto imports could allow President Trump to tack on a 25 per cent trade tariff on autos from other countries if the investigation finds the US economy has taken a hit from past vehicle trade.
Meanwhile, traders will be watching Aecon shares at the open today after Ottawa blocked a Chinese takeover of the Canadian construction company.
More big bank earnings are coming in and topping estimates this morning. TD reported a share increase to 1-62 with $1.8 billion in Canadian retail operations during its Q2. RBC reported a three billion dollar quarter. Scotiabank, BMO and National Bank will all release their Q2 reports next week.
Oil is slipping again as world producers plan for higher production to offset expected crude cuts from Venezuela and Iran. The price of US crude is down to 71.10 a barrel.
The Loonie, tied to the energy sector, is down to 77.72 cents US.