BEFORE THE BELL: Trump volatility puts pressure on Wall Street; RBC reports record earnings in third quarter
Wall Street could be subdued by the political volatility in the US today.
Experts say the criminal conviction of two former Trump advisers is leading to a cautious stance from investors, unsure of how this will affect the US President.
Investors are also looking to a meeting between Chinese and US officials today over trade tensions between the two countries. But, Donald Trump has already downplayed the meeting saying he doesn’t expect anything to come from it.
Across the border the TSX may get a boost from the financial sector as RBC rolls in with record earnings in its third quarter report. The Canadian big bank’s net income was $3.1 billion in its latest quarter. CIBC’s report is expected tomorrow.
The Loonie is gaining strength following the release of the report, growing to 76.87 cents US.
US crude, boosted by a slip in the Greenback, is up to 66.89 a barrel.