BEFORE THE BELL: Crude prices slip further as Trump calls out OPEC; Home Depot posts better-than-expected earnings
The energy sector is weighted this morning as the price of crude slips further. The drop comes after Donald Trump took aim at OPEC once again, demanding the regulator keeps crude production high across the globe. The price for US crude is down to 58.77 a barrel.
However, analysts say energy stocks could be balanced out by a jump in natural gas prices to a four-year high. This is giving some strength to the Loonie, which is growing to 75.53 cents US.
The markets are attempting to recover from yesterday’s tech sector failure, with Apple leading the charge as investors fretted over dropping iPhone sales. But, Home Depot is providing some guiding light for investors as the company reported better-than-expected earnings in its quarterly update. Amazon is also seeing a bounce back in shares as reports suggest the company has chosen to split its second HQ between New York and Virginia.
Meanwhile, investors are hopeful a trade resolution can be reached between China and the US as Beijing sends a top negotiator to Washington. But, some experts suggest Donald Trump may not be finished making an example of the Eastern country.