CLOSING BELL: U.S.-Russia tensions ease, markets rally
North American markets rallied today on the backs of good quarterly reports and Donald Trump seemingly easing his position on Syria.
The U.S. President tweeted today that he never said an attack on the country was imminent, after tweeting yesterday “missiles were coming”, in response to Russia promising to shoot anything fired at Syria down.
Investors responded and on Bay Street that, and a better than expected second-quarter profit from Shaw Communications, worked together to help push the TSX 11 points higher to 15,269.
On Wall Street technology and financials led the bounce back, bolstered not only by Trump’s tweet, but also by what many analysts expect to be a very good earnings reporting season. The Dow Jones closed at 24,483, up 293 points.
A cup of coffee and a joint could both be on the menu if Second Cup gets its way. The company has announced it’s partnering with National Access Cannabis to open recreational marijuana shops. That sent the company’s shares skyward, up close to 30 per cent, but the plan has a few hoops to jump through before coming to fruition, such as the fact neither company has a licence to sell weed.
At press time oil is up 30 cents to $67.12 U.S. per barrel, gold is down $21.90 to $1338.10 an ounce, and the loonie is down a shade to 79.43 cents U.S.