BEFORE THE BELL: Markets still weighted down by trade concerns; BoC likely to keep interest rate status quo
Trade worries are likely to continue weighing on North American markets today.
As NAFTA negotiations between Canada and the US restart after a four-day hiatus, experts say investors are getting anxious.
The possibility of another round of US trade tariffs hitting China is deepening that concern for investors.
The Loonie is gaining strength as Justin Trudeau is refusing to back down on key trade issues, growing to 75.94 cents US.
Investor attention will be temporarily pulled away from trade tensions when the Bank of Canada announces its decision on the interest rate this morning. A majority of economists predict Stephen Poloz will leave the 1.5 per cent rate alone for now, but an October hike could be possible.
Oil continues to slide from its Tuesday rally, falling to 68.98 a barrel.
Apple’s FAANG partner Amazon is following in the footsteps of its trillion-dollar predecessor. The online business became the second US company in history to hit the $1 trillion mark. Amazon stock is up 1.3 per cent to 2,039.