MID-DAY: North American markets boosted by banking and Boeing; Oil continues slide
The banking sector is helping push North American markets ahead today. But, analysts warn not to take the increase as a positive just yet, as recently the markets have turned to the red in the afternoon. Currently, the Dow is up 241 points to 23,834 as bank stocks gain on the possibility of an interest rate hike coming from the US Federal Reserve tomorrow.
Boeing is also helping push the Wall Street index after it announced a buyback of $20 billion in stock, as the company is forecasting some positivity for its earnings in 2019.
The TSX is also feeling support from these stocks as it pushes 71 points to 14,434. A slow gain in pot stocks is also giving the Bay Street index a boost.
The price of crude continues to slide as investors worry about a drop in demand next year. US oil is down to 48.05 a barrel.
The Loonie is slipping to 74.39 cents US.