MID-DAY: North American markets bounce back; Canada prepares to kick in tariffs on US products
The global bounce back is spreading to North American markets.
The TSX is gaining 91 points to 16,271 and across the border the Dow is pushing 281 points to 24,495. Analysts say the gains could turn south next week as new tariffs are expected to be released against China from the US. Canada will also be kicking in its retaliation tariffs against the US.
Ottawa announced it will put $1 billion towards supporting the steel and aluminum industries affected by the US tariffs.
Crude prices are back on the rise as Canada and the US move into the long weekends. US crude has increased to 74.30 a barrel.
The Loonie is gaining to 75.84 cents US.