BEFORE THE BELL: RBC pulls in ahead of earnings expectations; Trump could play nice with China’s President at G20 Summit
Bank stocks could help the TSX this morning as RBC earnings come in above expectations. The Canadian bank pulled in $3.3 billion in its latest quarter, pushing profits to $12.5 billion for 2018. Scotiabank kicked off third quarter bank reports yesterday.
Investors are keeping close watch on a G20 summit in Argentina this week. US economic adviser Larry Kudlow has indicated Donald Trump may try to work out a deal with his Chinese counterpart, despite earlier comments suggesting otherwise by the President.
North America’s countries will likely sign the new USMCA deal on the sidelines Friday.
The price for crude is making another attempt to pull out of a slip, as US oil pushes to 51.75 a barrel this morning. The move comes as OPEC announced it would cut production at the start of December to pull back on the bloated supply.
The Loonie is falling to 75.10 cents US.