BEFORE THE BELL: Friday’s new tariffs expected to affect market today
Analysts are expecting the first full day of trading to be affected by Friday’s newly imposed tariffs.
President Donald Trump announced tariffs on $50 billion of Chinese imports, and China responded with retaliatory tariffs on $34 billion worth of US goods. The TSX and the Dow Jones both ended up closing lower Friday as the world’s two biggest economies keep heading down the path to full-on trade war.
Marijuana stocks could see movement today after comments over the weekend from the federal government’s main man on pot that it could be legal in Canada by September. Ahead of the bell at press time oil is lower, down 89 cents to $64.17 U.S. per barrel, gold is up $5.50 to $1284 an ounce, and the loonie is up a fifth of a cent to 75.85 cents U.S.