BEFORE THE BELL: Trade war fears return to global markets; Hydro One closer to finalizing Avista deal
Global markets are reeling as Donald Trump has taken another stab at China’s trade practices. The US President proposed another $100 billion in trade tariffs against Chinese imports, claiming China is responsible for killing millions of American jobs.
This weighted the Nikkei in overnight trading, which fell .3 per cent to close at 21,567. European markets are also dipping as investors fear a trade war.
In North America, traders are waiting on jobs reports on both sides of the border. Analysts are expecting Canada’s Job numbers from March to sit somewhere between 10,000 and 20,000.
The price of crude is sliding this morning to 63.05 a barrel.
The Loonie is down slightly to 78.22 cents US.
Traders are watching Hydro One shares as the Ontario-based company is one step closer to buying US-based Avista. Hydro One has been cleared of the US Anti-Trust act in the $6.7 billion deal, but still needs approvals from various US State and Federal commissions.