MID-DAY: Markets boosting as investors ignore growing trade war; BoC interest rate decision coming Wednesday
Investor confidence amid a growing trade war is spreading into North American markets.
The TSX is up 51 points to 16,422 and across the border the Dow has boosted 236 points to 24,693. Experts say investors are choosing to focus on strong US jobs data and an upcoming week of positive earnings reports from big businesses. However, analysts suggest the trade war turmoil will come back around soon as Trump continues his tariff attack on China.
US crude is slipping again to 73-69 a barrel. This comes as Suncor reports its Syncrude facility in Northern Alberta won’t be back up to full production until September. Some production will start up later this month however.
The Bank of Canada is highly expected to raise the interest rate a quarter of a percent on Wednesday.
Ahead of that decision the Loonie is steady at 76.38 cents US.