MID-DAY: Cannabis stocks get a boost as Coca-Cola eyes market; Dow weighted on China trade war concerns
Cannabis stocks in Canada are coming back to life as Coca-Cola eyes the market. The beverage maker is reportedly considering making its own marijuana-infused drinks in partnership with Aurora Cannabis. The news is providing a boost to the cannabis market, which in turn is driving up the TSX. The Bay Street index is up 46 points to 16,060. Cannabis stocks dipped last week after US border officials stated anyone with smoked, worked with or invested in marijuana could likely face a lifetime travel ban as the market was not recognized as a legal in the US.
It’s a different story across the border as the Dow is getting hit with a new wave of trade war worries. Donald Trump is reportedly preparing to hit China with another round of tariffs on $200 billion worth of goods. This follows news Washington was preparing to enter a new round of trade talks with Beijing.
The price of crude is gaining as worries over production versus demand are taking front seat with Iranian crude being slowed down by US sanctions. US crude is gaining to 69.49 a barrel.
The Loonie is up to 76.87 cents US.