BEFORE THE BELL: US expected to announce interest rate hike; Facebook shares continue to bleed out over privacy breach claims
Investors will likely get an idea of where interest rates could be heading in the near future. US federal reserve officials are expected to announce an increase to 1.75 per cent on the interest rate today, and give an idea of when the next rate hike could be coming. Traders will be watching the markets to see how investors react to this news. This comes after a global market tailspin in February over investor fears of major interest rate increases in the US.
Oil prices are on the rise as the major supply coming out of Iran could be disrupted due to geopolitical issues. The price of crude is up to 64.17 a barrel ahead of a US oil inventories reporting coming later today.
Facebook shares have dropped 10 per cent over three days following reports of leaked user information. About $50 billion has been wiped from the company’s value.
The Loonie is gaining to 76.69 following news NAFTA talks are becoming more positive as the US has dropped a contentious auto trade sticking point.
Gold is up to 1,315 an ounce.