BEFORE THE BELL: Investors worry over global trade tensions; Bombardier sells plant property in Toronto
Concerns over growing global trade tensions and US inflation are keeping investors subdued today. Analysts say the global markets likely won’t see much movement as investors wait for a meeting between a US delegation and Chinese officials in Beijing. The two sides are expected to discuss trade negotiations, but this comes as Trump has indicated he may block Chinese telecoms from selling product in the US. And policymakers in the US haven’t raised the interest rate, but gave a cloudy outlook for the future, with some analysts believing it’s likely the Federal Reserve will raise the rate in June.
Gold is back in the winners circle as investors look for safer options, the precious metal is up by 6.60 to 1,312 an ounce.
Oil is gaining again as well to 68.04 a barrel.
The Loonie is steady at 77.93 cents US.
Traders are watching Bombardier shares today as the company announced it would be selling its Downsview aircraft plant property in Toronto to the Canada Public Sector investment board for $635 million. The company will continue to operate on the land for at least three years. This came after Bombardier announced growth in revenue from its latest quarter.