MID-DAY: Trump sours optimism on China-US trade relations; Crude pulls back from dip once again
All eyes are on the G20 summit as leaders meet amid high-tension. Donald Trump is garnering the most attention after the US President soured optimism on the possibility of easing trade tension between China and the US. Trump said the two sides still had a way to go before reaching a deal. He’s expected to still meet with his Chinese counterpart during the summit to discuss trade.
On Bay Street the TSX is down 2 points to 15,168 and across the border the Dow is dropping 122 points to 25,244.
The price of crude is coming back from a big dip this morning after it fell below $50 a barrel. US crude is up to 51.67 after Russia agreed to meet new OPEC guidelines to cut production and pull back on the oversupply.
The Loonie is down to 75.29 cents US.