MID-DAY: Bay and Wall Street bounce back from last week’s losses; Oil continues to slide ahead of sanctions on Iran
Tech stocks are boosting North American markets. On Bay Street the TSX is up 58 points to 14,946 and across the border the Dow is up 280 points to 24,969. The lead comes from IBM as it enters a deal with Red Hat for over $34 billion to get further into cloud services.
Despite the bounce back from a major selloff last week, analysts say the risks to the global economy are still in focus. The biggest concern is the growing trade war, which is putting more pressure on the Chinese economy.
Cannabis stocks continue to slide as investors start losing interest in the business after legalization hit two weeks ago.
The Loonie is seeing a bit of volatility, down currently to 76.21 cents US as traders await October job numbers and more Canadian economic data being released this week.
The price of crude is on the slide ahead of US-led sanctions on Iran. US crude is down to 67.00 a barrel.