BEFORE THE BELL: China’s economic dip affects global markets; Oil stays strong on Iran troubles
The Chinese economy is weighing on world stocks this morning. China announced a disappointing April for retail and home sales. Fears about trade tensions between China and the US are also rising as the US ambassador to China said the two countries were still very far apart in trade negotiations.
The MSCI, measuring global stocks, is down .3 per cent this morning.
As global stocks decline, oil prices are continuing to rise. Tensions between the US and Iran are continuing to boost the price of crude. US crude is up to 71.61 this morning. This is expected to continue to lend strength to the TSX on Bay Street.
The Loonie has dipped slightly from a morning gain, down to 78.04 cents US.
Today investors will get a look at US retail with an April report coming out. The Canadian retail report is coming later this week from Stats Can.