BEFORE THE BELL: Markets expected to have good day on oil cuts, trade war ceasefire
Experts are predicting a good day for North American markets.
That’s because of a jump in oil prices and a trade war ceasefire.
Oil prices are already on the rise this morning after Alberta’s announced production cut, and OPEC is expected to make a similar announcement later this week.
On top of that, the United States and China are putting their trade dispute on hold.
The world’s two biggest economies have agreed to a 90-day tariff truce during which they’ll negotiate existing trade disagreements.
At press time oil is up $2.10 to $53.03 U.S. per barrel, gold is up $8.20 to $1,234.20 an ounce, and the loonie is up three quarters of a cent to 75.79 cents U.S.