BEFORE THE BELL: Investors impatient for new trade truce details; Crude continues growth on Alberta production cuts
Uncertainty over a trade war truce between the US and China is holding back markets this morning. Experts say investors are getting impatient for updates on the possible agreement, after Donald Trump and his Chinese counterpart made an unofficial pact to work together over the weekend. Trump has agreed to a three month break on any further tariff action, but conflicting reports suggest the breather period has either already started or could start in January.
Meanwhile, the TSX could continue growth this morning as crude prices continue to gain more traction. The gains come after Alberta announced a planned cut in production in order to start moving some of its overstock out of the province. The price of US crude is gaining to 53.98 a barrel.
BMO reported better than expected earnings in its latest quarter, which could help push bank stocks in Canada this morning.
The Loonie is growing to 75.88 cents US.