MID-DAY: North American market recovery underway following Wednesday plummet
North American markets are starting to make up for significant losses during yesterday’s trading session. The TSX is gaining 55 points to 14,964 and across the border the Dow is up 247 points to 24,831 after both indexes dropped their furthest in years. Strong earnings reports, primarily Microsoft, are helping bring the markets back.
However, analysts warn nervous investors are looking to the future and how issues like trade wars and interest rate hikes will affect these corporate earnings. Experts say the support from Beijing against the US tariff tirade on China is no longer enough to shrug off investor concerns.
Oil is pulling out of a rut as it gains to 67.04 a barrel, showing continued volatility ahead of fresh US-led sanctions on Iranian exports.
The Loonie is down to 76.38 cents US.