BEFORE THE BELL: US jobs report pumps up global market; High oil output forecast weights crude prices
Investor confidence is showing as the global markets are rallying to a two week high. This comes after a February US jobs report showed gains in jobs, but a slowdown in average salaries, which analysts say will help keep inflation in check.
Tariff-plagued stocks in Europe gained as well, up 0.3 per cent for Monday. And in overnight trading, the Nikkei gained 1.65 per cent up to 21,824 by the close.
This morning, the price of oil is down to 61.77 following reports that US output of crude will be higher than expected this year. This is despite a lower rig count according to experts.
Gold is sliding 6.70 to 1,317 an ounce.
The Loonie has slumped back below the 78 cent mark to 77.95 cents US.