The Daily Chase: Wall Street weighs crash or boom for crude; Aviation woes continue
BNN Bloomberg
How low – or high – could crude go? That debate is raging among top commodities strategists who are gaming out a wide range of scenarios.
Let’s be clear: those are scenarios, not forecasts. But is there any more important story going for Canadian investors right now after a long stretch of seeing the energy group prop up the S&P/TSX Composite Index? We’ll chase down more views, and can’t wait to speak with two best-in-class commodities experts, when Francisco Blanch from BofA Global Research joins us at 9:40 a.m., followed by Helima Croft from RBC Capital Markets at 10:30 a.m.
MARKET WATCH
It’s back to regular trading today in the U.S., giving us a full breadth of North American activity for the first time since the calendar flipped to July. Futures are suggesting there will be a dip in New York at the opening bells. Any optimism spurred by reports that U.S. President Joe Biden is planning to ease some tariffs on imports from China was evidently fleeting. Credit to our Bloomberg News partners for pointing out China’s Commerce Ministry put out a statement today after Vice Premier Liu He spoke with U.S. Treasury Secretary Janet Yellen and stated Beijing’s concern about tariffs.
