The Daily Chase: Toronto home sales slow; Amazon slashes 18,000 jobs

​We've got fresh confirmation of the impact of higher interest rates on Canada's largest housing market.

OIL CLAWS BACK SOME GROUND

Oil prices are gaining ground, retracing some of the pronounced weakness to start the year. U.S. benchmark West Texas Intermediate is up some two per cent in early trading, making a bid for the US$75-per-barrel mark. Main factors at play seem to be assessing the impact of surging COVID cases in China and the overall impact they’ll have on energy demand, alongside a fresh read on energy inventories south of the border (which we’ll get a little later this morning.)

AMAZON CUTTING MORE JOBS THAN EXPECTED