BEFORE THE BELL: Investors pulling back from risks amid gloomy global economic outlook
The threat of a global recession is keeping the markets muted today. In overnight trading the Nikkei fell slightly by .1 percent to close at 20,593.
Investors are taking a step back from risky assets following a downgrade on global growth by the IMF and continued tension in the US China trade talks. A Financial Times report claimed Donald Trump was putting up more road blocks ahead of high-level talks next week with Beijing officials, but White House officials have denied these claims.
Still, the unease has kept investors from taking any risks and that sentiment is expected to continue in North America today after the TSX broke it’s 12-day win streak ending in the red yesterday.
The price of crude is shrugging off concerns for now as US oil pushes to 53.40 a barrel.
The Loonie is also pulling ahead to 75 cents US.