BEFORE THE BELL: G7 Summit expected to feature trade war topics; US jobs data propping Wall Street this morning
Trade war is expected to be the hot topic at this week’s G7 summit.
This comes as Canada and China are threatening action against the US for proposed trade tariffs. The summit starting Friday is also expected to feature discussions over the failed NAFTA negotiations so far. This morning, analysts say Wall Street is getting a boost from last Friday’s historic US jobs numbers, with unemployment hitting a three-year low at 3.8 per cent. The upcoming Apple-led developer conference is boosting Apple shares up .3 per cent in premarket trading, which is also expected to push up Wall Street at the open.
Across the border, aside from G7 trade topics, traders will be watching as Stats Can releases its report on trade data tomorrow.
The price of crude is continuing to slide on a global stock surplus, the price of US oil is down to 65.38 a barrel.
The Loonie is climbing to 77.38 cents US.