BEFORE THE BELL: Trump takes aim at China and the iPhone; Scotiabank kicks off Canadian bank earnings reports
Apple is taking another hit, this time from President Donald Trump. Trump told the Wall Street Journal he had no plans to make an agreement with China’s President during a summit this week in Argentina. He also said he would release another round of stinging tariffs against the country, with the iPhone taking a direct hit. Experts expect this will likely weight North American markets after a banner day for the Dow on Monday thanks to high retail sales.
ScotiaBank says it raised profits by $2.25 billion. This kicks off a rollout of earnings reports from Canada’s big banks with RBC reporting in tomorrow.
The price of US crude is sliding again to 51.57 a barrel.
The Loonie is dropping to 75.41 cents US.