A look at Friday morning’s market action
Global markets advanced as traders awaited today’s release of key U.S. core personal consumption expenditures , the Federal Reserve’s favoured inflation measure. TSX futures were in positive territory after a market rally yesterday.“The data is expected to hint at a tiny rebound in July,” Ipek Ozkardeskaya, senior analyst at Swissquote Bank, wrote in a note. But “the Fed doves are more interested in jobs data than inflation figures.
Oil prices rose as investors weighed supply concerns in Libya and Iraq, although signs of weakened demand, particularly in China, limited gains. “Ongoing concerns over dented Libyan supplies were magnified by Iraq’s plans to tame production, which together can dent the global supplies of oil,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.
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