On Friday, markets were initially higher after several banks “beat expectations”. But at the end of the day the S&P 500 was down 0.5% and Toronto was down 0.2%.
The energy and infrastructure segment in Canada got good news when large portions of the so-called “No More Pipelines” Bill was found unconstitutional. This could possibly clear the way for more LNG plants. However it remains extremely difficult to get projects approved and built and so this may be more of a political win and a symbolic win for the industry than anything else.
Oil has spiked 5.8% to $87.72.