BEFORE THE BELL: Tilray cross-promo deal likely to boost cannabis stocks on Bay Street; Oil boosts on trade optimism again
Cannabis stocks may give some extra life to Bay Street this morning. This comes as Tilray has announced a $100 million cross-branding promotion with Authentic Brands Group to offer specialized co-branded labels on marijuana products sold both in Canada and legalized states in the US.
Meanwhile, investors are feeling more confident after Beijing announced relief for China’s struggling economy. Trade optimism is also gaining after Donald Trump said it was possible for the US and China to reach an agreement and end the ongoing tariff battle.
The price of crude is feeling the boost from this positivity as US oil gains to 51.02 a barrel.
The energy-tied Loonie is also growing to 75.33 cents US.