MID-DAY: Investors waiting on Fed Reserve interest rate announcement; Oil prices continue to climb
Financial and energy stocks are leading the charge on Bay Street. The TSX opened lower, but is gaining to 15,665. This is, in part, due to positive outlooks on NAFTA trade talks after the US dropped its contentious sticking point on auto trade. This has also boosted the Loonie, which is climbing to 77.11 cents US.
Across the border the Dow is down on Wall Street to 24,712 ahead of a US Federal Reserve announcement on interest rates this afternoon. Policymakers are expected to raise the rate to 1.75 per cent and could provide more details on future interest rate hikes as well.
A drop in Facebook shares by 10 per cent in three days over privacy breaches didn’t help either.
Oil continues to gain as investors are unsure how geopolitical issues will affect the flow of crude from Iran. The price of crude is up 64.27 a barrel.