Global stocks are reversing course today as investors shrug off economic worries for trade optimism. China’s President is reportedly coming to the White House today to meet with Donald Trump, which is giving further confidence to investors after reports suggested the two sides were getting closer to reaching a trade agreement to end the tariff battle.
This sentiment is also helping crude price as US oil pulls out of a dive to gain to 57.40 a barrel.
Kraft Heinz is getting hammered by investors over product costs and amid a Securities and Exchange Commission investigation into the company’s procurement practices. In early market trading, the company’s stock has plunged over 20 per cent to 38.25 a share.
And political hot potato SNC-Lavalin will release its earnings report this morning, but experts say investors will likely be less concerned with current earnings and more focused on the company’s future plans amid the political turmoil caused for Justin Trudeau.