MID DAY: TSX shaking off oil, trade concerns to trend higher
Canada’s main stock market is trending higher today, despite concern over oil supply.
It’s expected at an OPEC meeting later this week that the organization will ramp up production, leading to lower oil prices. Investors on Bay Street are also, for now, shrugging off concerns about a global trade war brewing between not only Canada and the United States, but the US and China. The TSX is up 45 points to 16,359.
Different story on Wall Street as the Dow Jones is heading lower. This is the first full trading session after Friday’s back and forth on tariffs. The Dow is down 169 points.
And oil is up a quarter to $65.31 U.S. per barrel, gold is up $2.80 to $1281.30 an ounce, and the loonie is even at 75.72 cents U.S.