MID-DAY: Possibility of US inflation casts shadow over the markets today
Investor uncertainty about US inflation is setting the stage for the markets today. The Dow is down 135 points to 24,465 and it’s the same story on Bay Street as the TSX fell 50 points to 15,191.
Market volatility could continue as the US prepares to unveil consumer price data on Wednesday, which will give investors a better idea of the inflation rate. The market sell-off was kicked off in February after the US reported strong job growth and analysts warn it could be a similar situation if this upcoming report shows higher than expected numbers.
Oil prices are dropping again despite gains at the start of the week as US production of crude continues to peak. The price of oil is down 0.67 58.62 a barrel.
Gold remains unaffected by other global trends; the precious metal is up 1.20 to 1,327 an ounce.
The Loonie is down to 79.28 cents US.