BEFORE THE BELL: Bay Street looks to extend winning streak
Toronto investors are hoping to make it a straight week of gains today.
The TSX is coming off a six-day winning streak, closing up 56 points yesterday, finishing at 15,540. Precious metals and marijuana led that charge, but things were tempered by energy and financials losses.
Positivity from the Bank of Canada could help push the TSX when trading begins as it believes the economy is going to bounce back from the slowing housing market and lower oil prices.
Meanwhile global shares this morning are retreating from two month highs on word of decreasing factory output in China. Last month was their best ever January. There had been some lift this week thanks to optimism that a trade deal between the U.S. and China might be done soon and the U.S. Federal Reserve backing away from interest rate hikes.
Before the bell oil is even at $53.79 U.S. per barrel, gold is up 90 cents to $1,326.10 an ounce, and the loonie is down a little more than a tenth of a cent to 76.08 cents U.S.