MID-DAY: TSX comes back to life with energy sector boost
The TSX is shaking off a losing streak that stretched through last week with help from energy stocks.
The Bay Street index is growing 15 points to 16,105 as the price of crude gains this morning. Experts say investors are feeling more confident in oil prices as demand is not to be impacted in the next six to nine months by the US China trade conflict. A hit in import from Iran due to US sanctions is also giving strength to crude prices as US oil gains to 67.93 a barrel.
The Loonie, generally tied to commodity prices, is also gaining strength growing to 75.96 cents US.
Across the border the Dow is growing slightly to 25,919 as investors are finding a new distraction from Trump’s tariff tirade in the possibility Republican-led tax cuts. The party is looking to gain favour over its Democrat counterparts by moving forward with Tax Reform 2.0.