BEFORE THE BELL: Trump eyes China tariffs, accuses OPEC of crude price manipulation; Loonie slowly pulls out of slump
The tariff talk is stretching into July as the US puts China back in its sights.
US officials will be deciding on over $34 billion in tariffs against Chinese products on Friday. This comes after Donald Trump moved to block China Mobile from offering services in the US over spying concerns.
The US President is also making a vague threat against the WTO, claiming the organization is treating America unfairly and he’s going to ‘do something’ about it.
And Trump is accusing OPEC of manipulating the global crude market as oil prices gain once again. The price of US crude is up to 74.87 a barrel.
Meanwhile, Wall Street is expected to have another win today before it closes early for the July 4th holiday tomorrow. The boost is coming from tech stocks as analysts are expecting positive earnings reports from Silicon Valley next week.
The Loonie is slowing gaining ground again, up to 76.05 cents US this morning.