BEFORE THE BELL: Trump watched closely at G20 summit as investors await news on US China trade tension
The US China trade war will be the hot topic for investors ending out the week. Analysts are unsure whether Donald Trump will make a deal with his Chinese counterpart during the G20 summit. Trump himself indicated he wasn’t prepared to break trade tension, but his economic adviser contradicted that sentiment in a follow up statement, suggesting a deal could be made.
The uncertainty is expected to temper North American markets today after yesterday’s boost, which came after the US Federal Reserve chair indicated he was easing on his plan to continue pushing the interest rate higher.
Oil continues its plummet this morning as Russia appears to have no interest in pulling back on production despite a promise from OPEC. US crude is now below the $50 mark at 49.88 a barrel.
The energy-tied Loonie continues to slide to 75.16 cents US.