BEFORE THE BELL: Wall Street likely to see more gains to end out the week; Aphria rejects hostile takeover bid from US company
A possible selloff is likely being averted this week as Wall Street is expected to see more gains today. The Dow threatened to move into selloff territory yesterday as it plunged into the red, but quickly reversed course in the afternoon. Experts say the growth is likely coming from positive news on an upcoming trade meeting between the US and China.
Crude volatility continues as the price of US oil gains to 45.02 a barrel, as investors shrug off concerns about oversupply and a drop in demand in 2019.
The Loonie is gaining to 73.49 cents US.
Meanwhile, Aphria has rejected a hostile billion-dollar takeover bid by a US company, saying it undervalues the assets of the Canadian marijuana company. The news has weighted gains for the pot stock.