MID-DAY: GDP pushes Canada’s economy higher for seventh month; Air Canada profits weighted by fuel costs
A boost in the GDP and some positive earnings reports are boosting the TSX. The Bay Street index is 143 points to 15,038. The jump comes as StatCan reports August say the GDP push 0.1 per cent higher stretching the economy’s growth to seven months.
While many earnings reports were positive, Air Canada saw a drop in profits largely due to increasing fuel costs.
Across the border, the Dow is gaining 307 points to 25,181.
The bullish mood today is a stark contrast to the rest of October, with global markets weighted mostly by trade war concerns.
The price of crude is sliding once again, with US oil down to 65.95 a barrel.
The Loonie is down as well to 76.14 cents US.