BEFORE THE BELL: Investors face fears after Trump loses support in tariff talks; Loonie shows slow growth following Monday slump
Investor confidence is gaining as Trump is losing support from his own party members for proposed tariffs on steel and aluminum imports. In overnight trading, the Nikkei bounced back from a Monday slump with a 2 per cent increase to 21,417. Traders are expecting Wall Street to continue a rebound from yesterday as Trump prepares to meet with corporations that would be heavily impacted by his proposed trade tariffs.
Canada’s currency isn’t faring well after tariff talks pushed it down below 77 cents US yesterday. The Loonie hasn’t gained back much ground only moving up slightly to 77.29 cents US this morning.
Gold continues to benefit as a stable life line for nervous investors moving up to 1,328 an ounce.
The price of crude is up to 62.97 a barrel.