BEFORE THE BELL: LNG project approval expected to boost TSX; USMCA shine wears off as US-China trade war worries resurface
The TSX is likely to get a boost from the energy sector this morning. LNG Canada shareholders have approved a $40 billion build to push more Canadian natural gas in to asian markets where the demand is growing.
Meanwhile, the shine is quickly wearing off on the USMCA trade agreement as investors are haunted by US China trade war worries once again. China recently reported a downturn in its manufacturing sector. Analysts say it’s possible the Dow could get hit by these worries at the open.
Oil is still riding on the new trade agreement positivity as it gains to 75.37 a barrel.
The Loonie has slipped to 77.93 cents US.
Investors will be keeping an eye on Amazon shares after the company announced it would be raising its US wages to $15 an hour. The wage jump will affect hundreds of thousands of US employees.