By MarketsFarm
WINNIPEG, May 16 (MarketsFarm) The Canadian dollar was up slightly on Thursday morning.
At 8:45 CDT Thursday morning, the Canadian dollar was at US$0.7447 or C$1.3428, which compares with Wednesday’s North American close of US$0.7434 or C$1.3451.
United States President Donald Trump signed an executive order on Wednesday that prohibits U.S. companies from doing business with information or technology firms deemed to pose a national security risk, according to Yahoo Finance.
The U.S. Department of Commerce added China’s Huawei Technologies and its affiliate companies to the list, following the arrest of Huawei executive Meng Wanzhou. This move further complicates ongoing trade negotiations between the two countries.
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Oil futures were strong amid reports of falling U.S. stockpiles, though concerns of global demand and tension in the Middle East remained top of mind for investors.
West Texas International was up 79 cents to hit US$62.81 per barrel, and Brent Crude gained 94 cents to hit US$72.71.
The TSX gained at 8:45 CDT, up 78.54 points at 16,396.50. The S&P 500 Index gained by 16.02 points to hit 2,867.10. Similarly, the Dow Jones gained 135.14 to hit 25,784.02. The NASDAQ also gained 46.33 to hit 7,863.00.
