BEFORE THE BELL: Boeing shares plummet following Ethiopia crash; oil pulls ahead on OPEC cuts
Boeing is getting slammed by investors this morning after a deadly crash in Ethiopia involving one of its planes. The company’s stock has dropped nearly 10 per cent in premarket trading after the brand new 747 crashed killing over 150 shortly after taking off.
Analysts expect a bit of a ripple effect on Bay Street as Boeing is a major player on the TSX.
Meanwhile, global stocks are getting a fresh start this week after struggling last week.
The price of crude is pulling ahead as OPEC tightens production and US drilling eases. US oil is up to 56.56 a barrel.
The energy-tied Loonie is gaining to 74.5 cents US.