BEFORE THE BELL: Tough trading October likely to end in bullish rally; StatCan to release GDP data today
Analysts say October will overall be marked as a losing month for the TSX. The Bay Street index has lost about 8 per cent and across the border the Dow hasn’t fared any better, losing 6 per cent during this turbulent trading month.
The drop has mostly been powered by concerns over an ongoing trade war between China and the US, which is blamed for causing a slowdown of the Chinese economy.
But, the markets are pushing to end the month on a bullish tone as they rally this morning on strong earnings reports.
Meanwhile, economists will be looking to GDP economic data being released by StatCan today for insight into the future of Canada’s interest rate.
Oil is slowly gaining back some ground as the price of US crude climbs to 66.32 a barrel.
The Loonie is slipping to 76.14 cents US.