BEFORE THE BELL: Markets gearing up to close out worst week in three months
Global shares are up this morning before the trading session in North America gets underway.
Despite that, we’re looking at what will likely be the worst week of trading in three months. Trade disputes, tariff threats, and oil prices all wreaked havoc on the markets this week. Today Chinese state media called those U.S. tariffs “self-defeating” and a “symptom of paranoid delusions.” The TSX closed 85 points lower yesterday while the Dow Jones was down 196 points.
Reports say an OPEC meeting today has moved the group closer to boosting crude production which could lead to lower oil prices. Ahead of the bell oil is up 86 cents to $66.40 U.S. per barrel, gold is up 90 cents to $1271.40 an ounce, and the loonie is up a quarter of a cent to 75.29 cents U.S.