Wall street dropped ahead of Fed rate call this morning. The Federal Reserve is expected to keep the federal funds rate unchanged, extending the pause in its rate-cut cycle that began in January.
Market Numbers: (Futures)
TSX : Up (1.45%) 24,553.40
TSXV: Up (1.30%) 621.13
DOW: Up (1.65%) 41,488.19
NASDAQ: Up (2.61%) 17,754.09
FTSE: Up (0.25%) 8,654.00
In the Headlines:
As trade war tensions increase, several CEO’s of Canada’s energy industry released a letter to Canadian federal politicians. The open letter from 14 CEOs representing the four largest pipeline companies and 10 largest oil and natural gas companies outlined an urgent action plan that calls for a country wide push to champion Canadian energy products and pipelines and unleashing the potential of our natural resources.
Canadian company, Alimentation Couche-Tard and 7-Eleven Owner, Seven & i Holdings Co. have signed NDA’s as they move forward in their negotiation process.. The NDA is for the sale of certain US convenient stores in order to meet US antitrust regulations.
Alimentation Couche-Tard reported it’s third quarter revenue is up 3.3 percent, earning US$645 million.
Currencies Update: (Futures)
In currencies today, the Canadian dollar edged down against the greenback, trading at US$.69. The loonie is up against the Pound and the Euro and Bitcoin added nearly 2 percent bouncing back from yesterdays drop, last trading at C$120,316.66
Commodities: (Futures)
Natural Gas: Up (3.03%), 4.17
WTI: Down (0.11%), 66.82
Gold: Up (0.23%), 3038.80
Copper: Up (.70%) 5.02
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