BEFORE THE BELL: Market turbulence sends investors to safe haven options; oil pulls ahead as US eyes sanctions on Venezuela
Trade talks are still expected to continue between the US and China despite new tension involving Huawei. US authorities have issued various charges against the tech giant alleging illegal trade and fraud action. But, while China is warning the US to give up on what it’s calling a political move, there have been no changes announced to the trade meeting between the two countries.
Meanwhile, the US Federal Reserve is expected to announce its forecast on the economy tomorrow, with experts expecting the Central Bank to take a cautious tone with its policy moving forward.
This is all leaving investors feeling nervous, which is pushing safe haven options higher. Gold is up to a seven-month high of 1,306 an ounce.
And more market turbulence is expected as corporate heavy-hitters like Apple, Amazon and Facebook are expected to release earnings reports this week.
The price of crude is pulling ahead as the US prepares to impose new sanctions on Venezuela’s oil output. US crude is up to 52.34 a barrel.
The energy-tied Loonie is gaining to 75.43 cents US.