TSX Set to Open Higher on Trade Talk Progress, GDP Data
The TSX looked set to open the Friday session in the positive territory, as investors applaud the growth of the Canadian economy in Q4 and the progress the US-China trade meeting is making.
BMO said there has been chatter that the US and China are getting closer to finalizing a 150-page trade deal and that Presidents Donald Trump and Xi Jinping could meet as early as mid-March.
Meanwhile, Statistics Canada said Canada's GDP slowed to a 0.4% growth rate in Q4 from 2.0% in Q3. The slowing in real Q4 real GDP growth was well short of expectations (median +1.0%).
In commodities, oil edged lower on Friday, after earlier touching the highest in more than three months, as weak economic data looked to quell demand even as optimistic investors expect supply cuts from Saudi Arabia to winnow global stockpiles. Also under pressure, gold fell to the lowest in more than a month early on Friday as investors moved away from safe havens and the US dollar rose.
The TSX lost 75 points on Thursday, led lower by materials.
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