BEFORE THE BELL: Markets weighted by threat of US government shutdown; Canada’s October GDP to be released today
The threat of a US government shutdown over the holidays is continuing to grind away at the markets. As US stocks are reportedly headed for their worst year since 2008, budget stress may lead to more turmoil for the American economy. Analysts expect North American markets to continue feeling the weight later this morning.
Meanwhile, the TSX might get a slight boost as Stats Can is preparing to release the October GDP report this morning. Some analysts are predicting an increase of 0.2 per cent in the country’s economy.
The price of crude is down to 45.43 a barrel this morning as traders worry over a drop in demand while economies cool in China and the Euro zone.
The lowly Loonie is sliding further to 73.85 cents US.