MID-DAY: Investors await the expected rate hike announcement from US Federal Reserve
Investors are prepared for a rate hike in the US, but are watching to see what comes next. Along with the expected interest rate hike announcement, the US Federal Reserve may indicate what the plan is for the next year or longer as the US economy continues to swell.
This is helping push the Dow up 56 points to 26,548.
Oil is pulling back again after a rally yesterday, as OPEC says it will not raise crude production to make up for loss from Iran in November due to US sanctions. US crude is down to 71-67 a barrel.
The drop isn’t affecting the TSX, which is gaining on a boost in tech stocks up 55 points to 16,214.
As NAFTA uncertainty continues to loom, the Loonie is slipping to 77.10 cents US.
Steel tariffs are starting to take their toll on Ford as the company’s CEO admits the trade sanctions are hitting hard at $1 billion.