BEFORE THE BELL: Investors move to safer options as Fed Reserve eyes December rate hike; Amazon and Apple shares drop on China-spying claims
A move to safe haven options may put some weight on North American markets today. Analysts are quite sure the US Federal Reserve will raise its interest rate in December after policymakers noted the remarkable growth of the country’s economy. Many investors are moving to stable options fearing an increase in global borrowing rates. The Bank of Canada is also expected to raise its interest rate this month.
The price of crude will likely continue to rise as experts say markets are hyper focused on a new round of US sanctions hitting Iran next month and slowing crude exports from that country. An indication that OPEC may open global production isn’t distracting the market from the Iran stoppage, but it is slowing down the price of US oil this morning, which is down to 76.33 a barrel.
The Loonie is pushing ahead again, growing to 77.71 cents US.
Amazon and Apple shares are sliding after a Bloomberg report claimed the companies were being spied on by China through tiny microchips installed in their computers. Both companies have denied the claims.