MID-DAY: TSX gaining while the Dow is dropping; US Feds to offer details on future interest rate hikes
It’s a tale of two markets as the TSX is up and the Dow is down. The Bay Street index is up to 15,663, getting a boost from the materials sector.
Across the border the Dow is dropping to 24,036 as investors are fretting ahead of an announcement on interest rates from the Federal Reserve. US Policymakers are not expected to raise the rate today, but could flag June for the next interest rate hike. The main problem is material prices, which have been spiking as Trump continues to throw up trade tariffs against other countries. The Trump administration is heading to China tomorrow to negotiate trade deals.
Oil is steady at 67.45 a barrel following a slight gain this morning.
The Loonie is dipping to 77.77 cents US.