BEFORE THE BELL: Chinese stocks boosted by Beijing support; CN, Boeing and Shopify quarterly reports expected this week
Chinese markets are boosting on support from Beijing, which is expected to spillover across the globe. Investors are buying up Chinese stock after the government promised financial support for its companies and personal tax cuts. The Nikkei bloomed on this news closing .4 per cent higher.
The rollout of earnings continues this week with big tech company earnings reports on the slate, along with CN Rail and Boeing. Shopify may take the spotlight with its report however, as the Canadian e-commerce company has played a major role in a few provincial cannabis retail websites across the country.
The Bank of Canada interest rate decision is coming on Wednesday with analysts expecting another rate hike coming, despite a drop in inflation in September.
The threat of US sanctions against Iranian oil is pushing the price of crude higher, but the price of US crude has slipped slightly to 69.26 a barrel.
The Loonie is gaining to 76.34 cents US.