BEFORE THE BELL: Trade war and global debt problems push investors to safer options; Kinder Morgan Q3 earnings boosted by Ottawa
Investors are getting nervous again as global economic problems resurface. Analysts say safe haven options are becoming more attractive to investors, while the China-US trade war worries return, along with a hawkish outlook on the US economy from its Central Bank. Federal Reserve Bank officials are reportedly all behind a plan to raise interest rates to keep the US economy under control. Meanwhile, Chinese officials say the economy is experiencing a slowdown due to continued tariff attacks from US President Donald Trump.
Canada’s pot stocks will be closely watched today after they dipped despite the high demand for marijuana products on the first day of legal sales.
The price of crude is still dropping with US oil falling to 68.96 a barrel.
The Loonie is also down to 76.72 cents US.
Kinder Morgan is boasting a big boom in its third quarter thanks to Ottawa. The purchase of the Trans Mountain pipeline by the feds for $4.6 billion pushed Kinder Morgan’s earnings up to $1.35 billion.