MID-DAY: Dow pushes past 25,000 mark; Johnson & Johnson stock down following $4.7 billion lawsuit
Bank stocks are taking a hit, which is trickling down to Bay Street.
The TSX is gaining only slightly by 12 points to 16,579 as Canada’s Big Bank shares slide.
Across the border the Dow is gaining momentum, up 78 points to 25,003 as big business earnings continue to boost the Wall Street index. This comes despite a growing threat of a global trade war as the US and China continue to the tit-for-tat tariff battle.
Oil is coming back from a major slide, US crude is gaining to 70.79 a barrel. Crude prices took a hit this week as Libya announced it would be importing product once again, offsetting global demand.
The Loonie is steady at 75.95 cents US.
Johnson & Johnson shares are down after the company was ordered to pay over $4 billion in damages to 22 women with cancer in the US. A US court ruled the women had contracted ovarian cancer from asbestos in the company’s talcum powder.