BEFORE THE BELL: No weight felt by Trump’s latest tariff attack; Pot stocks likely to continue boosting Bay Street
An escalation in the US-China trade war isn’t having much impact on global markets. Despite Trump pulling the trigger on tariffs affect $200 billion worth of Chinese products, investors seem to have been well-prepared for that eventuality.
Meanwhile, more growth is expected on Bay Street today as cannabis stocks continue to get a boost from news Coca-Cola may join the marijuana market in a possible partnership with Aurora Cannabis. The pop-maker is reportedly interested in making cannabis infused drinks. Following the news Aurora Cannabis stock has grown 16 per cent. Coca Cola has also gained slightly by .7 per cent.
Oil prices are getting a boost as major importer Saudi Arabia says it’s willing to let crude prices push higher. The price of crude was dropping over worries global demand would dry up from the escalating trade war. US crude is up to 69.84 a barrel.
The Loonie is gaining to 76.75 cents US.