BEFORE THE BELL: Slow recovery underway after Dow and TSX plummet
Wall Street might see a bit of relief today after hitting its worst since 2011. After the Dow fell over 600 points in Wednesday trade, European markets are showing some slight rebound this morning.
But, analysts say the troubles likely aren’t over as not even a trend of upbeat earnings reports can distract fearful investors from the wave of issues plaguing the global economy with trade war worries, rising interest rates and Brexit stress topping that list. Today’s positive earnings don’t matter to investors when tomorrow’s could be affected by these economic threats.
A week ahead of a new round of US sanctions drying up Iranian oil, the price of crude is slipping. US crude is down to 66.75 a barrel.
Gold continues to act as a safe haven for investors pushing to 1,235 an ounce.
Following a Bank of Canada decision to raise the interest rate, the Loonie is gaining to 76.75 cents US.