MID-DAY: Bank stock positivity boosting North American markets; Oil slides on oversupply concerns
Bank stocks are helping give life to Bay Street today. The TSX is up 18 points 15,064 as investors buy into bank stocks thanks to positive earnings reports coming from financial institutions across the border. Bank of America came in above expectations with its latest earnings report.
The financial stock jump is also helping Wall Street as the Dow gains 121 points to 24,187.
Brexit drama isn’t having a huge effect on investors as analysts suggest Britain may be forced to postpone its EU divorce plans in March.
The price of crude continues to slip as investors worry over supply outweighing demand with inventories growing in the US. US oil is down to 51.71 a barrel.
The Loonie is pushing ahead to 75.47 cents US.