BEFORE THE BELL: Traders watching Canadian Cannabis stocks; G7 Summit kicks off with trade at the forefront
Cannabis and trade tensions are hot topics for investors this morning.
Analysts say Canadian cannabis stocks are likely to be at the forefront at the open after senate passed the legalization bill in its third reading. Reports suggest legalization is becoming more likely to hit in September.
Today is the start of the G7 Summit in Quebec with discussions expected to be dominated by trade talk. Investors will be watching to see how Trump reacts to other world leaders airing grievances over his imposed trade tariffs.
Analysts say a four-day winning streak on Bay Street could come to an end today as investors worry over a trade war. The TSX has been boosted lately with Canadian stocks reportedly among the highest traded globally.
The Loonie is sliding to 76.77 cents US ahead of a Stats Can report on unemployment today. Experts say the May report will likely show a slight dip in the unemployment rate.
The price of US crude is slipping to 65.69 a barrel as output in the US increases to meet demand and offset losses from Venezuela.