BEFORE THE BELL: Investors waiting anxiously as US inflation report coming on Wednesday
World markets will be put to the test again this week as the reports on US inflation and retail sales are coming on Wednesday. Some analysts believe the rate of inflation may be slowing down, but experts say if the number comes in above expectations this could send the world markets into another downward spiral.
Oil is slowly coming back from a seven per cent loss last week, up 1-05 to 60-25 a barrel. The price of crude dropped due to high production in the US.
Gold is up this morning 5-50 to 1,321 an ounce.
The lowly Loonie is up to 79.54 cents US.
Traders are keeping an eye on Suncor Energy Inc as the Calgary-based company grows its stake in Fenja Development, an offshore oil project on the Norwegian Sea headed by Syncrude. Suncor is buying 5 per cent interest in the project from Mocal Energy, which will increase its own share to 58.74 per cent. The deal is estimated to cost about $920 million.