MID-DAY: US Feds likely to raise interest rate this afternoon; Mergers abound following AT&T Time Warner approval
A federal interest rate decision is the main focus for investors.
Analysts say it’s very likely US policymakers will raise the rate to 2 per cent with another rate hike coming before the end of the year. Ahead of the afternoon announcement the Dow is only gaining slightly to 25,337.
Across the border the TSX was higher for an eighth straight day boosted by financial stocks to 16,305.
Traders may be watching cannabis stocks again as Ottawa is rejecting over a dozen amendments suggested by senate on the pot legalization bill. Experts say there’s a good chance the bill could be held up by unhappy senators when it’s sent back for the final vote.
An approval for the AT&T Time Warner takeover from US officials appears to be opening the door for other mergers. Comcast is reportedly moving forward with its bid to buy out Fox and edge out Disney and Sprint is considering a merger with T-Mobile.