BEFORE THE BELL: Investors press pause amid US Midterm elections; Oil sliding again as Iranian flow continues
The US midterms are causing some slowdown in global markets today. Analysts say investors are waiting to see how the election turns out, with Donald Trump expected to lose control of the House of Representatives to the Democrats. This will likely end up roadblocking many of the president’s attempted policy changes moving forward.
An upcoming US Federal Reserve meeting is keeping investors on edge as well, as it could indicate whether another interest rate hike should be expected before the end of the year.
Meanwhile, crude prices are sliding once again after some slight gains on Monday. The price drop comes as the US is allowing eight countries to continue exporting oil from Iran despite a fresh round of US sanctions hitting the Middle Eastern country over the weekend. US crude is down to 62.78 a barrel.
The Loonie is flat at 76.19 cents US.