MID-DAY: Oil price volatility hits North American markets; US tariffs on Chinese products take effect Friday
Oil prices and tech stocks are propping the North American markets today.
The Dow is up 45 points to 24,353 and the TSX has slipped slightly by 23 points to 16,254.
This comes as oil price volatility continues. US crude spiked above 75 dollars a barrel and is now falling to 73 dollars. The movement comes from uncertainty over Libyan exports, Donald Trump’s accusations of price manipulation from OPEC and an uptick in demand ahead of the US holiday tomorrow.
Trump is taking another shot at Harley Davidson after the company announced it was moving some production across the ocean to avoid EU tariffs on its products. The US President announced he’s taking offers from other motorcycle companies to move production to American soil.
Trade woes may weigh on investors soon as the US pushes ahead with its plan to impose $34 billion in tariffs on Chinese products. The Chinese government has threatened retaliation against the trade attack.