MID-DAY: Netflix boosts stocks and markets with jump in subscribers; economists look to BoC decision on interest rates tomorrow
Commodities are taking a global hit, but that’s not slowing down traction in the markets today. On Wall Street the Dow is up 212 points at 24,786 and across the border the TSX is gaining to 15,367.
Aluminum prices are skyrocketing to a seven-year high as the US puts sanctions on Russia. Oil prices are also leveling out as geopolitical tensions ease in the Middle East and drilling for new sources continues in the US. The price of crude is gaining to 66.25.
But, financial, health and tech sectors are all boosting the North American markets. Netflix announced a jump of seven million subscribers globally, which pushed the stock close to a record high, currently up seven per cent at 329.
Traders will be watching tomorrow as the Bank of Canada announces its plans for the current interest rate. Some economists are suggesting the BoC won’t make any changes until June.