BEFORE THE BELL: Brexit, Boeing and China’s economy all holding weight for investors this morning
Boeing is dropping once again as two major countries ban the use of its jets. After Canada and the US decided to join the growing ban, Boeing’s shares, which were on the rise yesterday, are now dipping again in premarket trade.
On this side of the border Air Canada and WestJet are both seeing declines as well, as investors worry over the losses faced by these airlines with many of the planes in their fleets now unusable.
Meanwhile, Brexit stress and the dragging Chinese economy are expected to weight global stocks. A new report showed almost no movement in China’s retail sales as the trade war continues to take its toll on the country’s economy.
Despite a few days of recent growth, the price of US crude is slipping to 58-12 a barrel.
The Loonie is dropping to 75 cents US.