BEFORE THE BELL: China heads to Washington to ease trade tensions; Second Cup eyes Ontario for cannabis stores
Markets are attempting to pull out of a tailspin yesterday weighted by a strong US dollar.
The strength came from nervous investors looking for security as fear grew over economic issues in Turkey and a mounting trade war. Experts say the drop in the Turkish lira was a taste of what could come if the trade tension across the globe continues to grow.
But, China is looking to ease its trade tensions with the US as officials plan to travel to Washington later this month.
Meanwhile, Wall Street could get a boost from more quarterly earnings reports today. Walmart and JC Penny are both expected to release reports this morning.
Second Cup is planning on taking advantage of new marijuana sale rules in Ontario. The coffee chain is considering converting its Ontario shops to cannabis stores. The original plan was to convert Western Canada stores, but the coffee chain is considering Ontario too after the PC government changed the rules on weed sales in the province from public to private.
Oil is sliding again to 65 a barrel.
The Loonie is flat at 76.11 cents US.