Markets on Bay Street and Wall Street are mostly flat to kick off the new month, but the TSX is starting things off on a good foot, despite trending downward through morning trading, while US stocks are trending lower.
Investors are still concerned over the potential impact of multiple US trade disputes. The S&P 500 sustained its first losing month of the year in May and was down 6.6% from its April 30
th record.
Bank of America Merrill Lynch
lowered its earning estimates for companies in the S&P 500, specifically due to trade disputes. The Dow and Nasdaq were also lower.
Asia saw a mixed say in Asia following surveys of manufactures showed a sagging confidence in business, citing the ongoing trade spate between Washington and Beijing. The outlook for investors has been obscured as the supply chain is continuously disrupted with either side raising its tariffs. Asian PMIs are mixed, and some have been stronger than expected.