The Toronto Stock Exchange is down 227 points at midday, as tariffs confusion continues, after having closed up near 300 points on Wednesday.
Oil traded up from a six-month low early on Thursday despite rising supply, higher U.S inventories and the threat of weakening demand amid trade wars launched by the United States.
But gold prices eased after three days of gains even as the U.S. dollar continued to falter. Also, natural gas fell off the highest level in more than two years ahead of the release of fresh storage data.
Trade issues continue to dominate the market focus. Veteran market watcher David Rosenberg published a note entitled ‘Making Global Trade Wars Great Again’ in which he noted: for Canada, the tariffs are a major contractionary shock that will lead to aggressive Bank of Canada rates easing, an elongated bull market in bonds, and a move to record lows in the loonie.
In an Executive Summary, Rosenberg said: “President…
