MID-DAY: China rebukes US claims of possible trade negotiations; BoC business survey shows positive outlook
The trade war potential is still hanging in the air as Chinese officials say trade negotiations are impossible right now. This comes after Donald Trump attempted to downplay trade war concerns saying China would eventually give into US pressure and negotiate a better deal.
On Bay Street the TSX is growing by 51 points to 15,258. Across the border the Dow is also gaining 273 points to 24,206.
Oil is rallying today, up to 63.56 a barrel.
The Loonie is gaining following a positive outlook report on business from the Bank of Canada. The Canadian currency is up to 78.55 cents US. A quarterly survey of 100 firms shows sentiment is positive about the future of business in Canada right now. The survey results will play a big role in the BoC’s decision on interest rates.