BEFORE THE BELL: CIBC beats expectations in third quarter; Trump troubles weight Wall Street
Political turmoil in the US and a new round of China-US tariffs is expected to hold back Wall Street today.
While Chinese officials meet with mid-level US administration in Washington, the two countries have new tariffs taking effect against each other today.
Along with Donald Trump’s political problems, analysts expect investors to move to safer options. This means appetite for the Greenback is back on the menu and that’s bad news for US-priced commodities and other world currencies.
However, US crude is still clawing ahead, gaining to 67.99 a barrel this morning.
Across the border CIBC is reporting third quarter earnings above forecast with just over $1.3 billion. This is expected to help Bay Street at the open.
The Loonie is down to 76.73 cents US.