BEFORE THE BELL: US-China trade optimism bringing life back to markets; Jobs data coming out for Canada this morning
Global markets are cautiously and optimistically gaining some ground after a Thursday slump. The promise of an ease in trade tension between the US and China is giving investors confidence after Beijing announced a new round of trade talks starting next Monday. This came as a welcome relief after Apple caused havoc on Thursday, reeling back its profit forecast with concerns China’s dipping economy would slow down iPhone sales.
The price of crude is pushing higher on renewed confidence, with US oil gaining to 48.17 a barrel.
Meanwhile, jobs data is expected to be release for both Canada and the US later this morning, which could help or hinder the North American markets.