BEFORE THE BELL: Bay Street looking to keep up record high momentum
Investors on Bay Street will look to keep things rolling today, coming off a record high for the TSX.
Marijuana and energy powered Canada’s main stock market to a close of 16,420 Wednesday afternoon, a gain of 104 points. Pot stocks got the boost from the legalization of recreational use being approved by the Senate the day before.
There could also be some progress on the NAFTA front, with Foreign Affairs Minister Chrystia Freeland making comments yesterday that modernizing the deal will make it easier for companies to do business in all three member countries.
On Wall Street investors are hoping for a turnaround as the week of losses continued, though lightened up some yesterday as the Dow Jones closed down 42 points. Concerns over a trade war between China and the United States is fueling that uncertainty.
Ahead of the bell at press time oil is down $1.21 to $64.50 U.S. per barrel, gold is down $9.20 to $1,265.30 an ounce, and the loonie is down a shade to 75.07 cents U.S.