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MID-DAY: Crude rally boost North American markets

James Bowler
By James Bowler

A crude rally is boosting Bay Street higher for a second day this week. The TSX is up 34 points to 16,241 as crude prices continue to spike. OPEC is deciding to let the stocks drain as production in Iran dries up and demand grows. This is pushing US crude to 72.40 a barrel.

Pot stocks are also helping Bay Street as Aurora Cannabis came in with a positive earnings report.

Across the border, the Dow is once again shrugging off China-US trade war worries in favour of the energy boost and an anticipated interest rate hike decision from the Federal Reserve this week. The Wall Street index is up 27 points to 26,589.

The Loonie is finally breaking free of NAFTA worries as the oil rally pushes it to 77.23 cents US.

James Bowler
James Bowler

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