MID-DAY: Trump to meet with Chinese President in Argentina; TSX falls on GDP slowdown and energy dip
A slowdown in GDP is pulling back on the TSX. The Bay Street index is down 54 points to 15,139 after StatsCan reported GDP slowed to 2 per cent in the third quarter from 2.9.
Another slump in oil prices also weighted the TSX. The price of US crude is down to 50.53 a barrel as inventories continue to bloat globally.
The Dow is pulling out of a slump growing 29 points to 25,368 on Wall Street as investors await Donald Trump’s meeting with his Chinese counterpart. Investors have been constantly hit with mixed messages from Trump and his advisers on the possibility of easing the trade war tension between the two countries.
Meanwhile, trade in North America may be a bit more solidified as Justin Trudea, Trump and Mexico’s President all signed off on the USMCA agreement, but it still needs to be ratified before it’s enacted.
The Loonie is dipping to 75.13 cents
US. Marriott shares are tumbling after the company announced it was hit by a data breach affecting banking and other sensitive information for about 500 million guests.