North American equity markets are trading higher this morning following gains in global markets and an uptick in oil. U.S. jobless claims saw an unexpected drop to 234,000, which was better than consensus estimates of 250,000. The latest results continue on this historically low trend of applications remaining below 300,000. There are no major data points due out of Canada today.
Oil (+1.0%) got a bump after an unexpected draw in U.S. gasoline inventories. The Energy Information Administration said yesterday that inventories fell by 869,000 barrels last week, compared to estimates for a 1.1 million barrel gain. Gold steadied as uncertainty remains in the markets with Trump fighting to enforce his temporary travel ban on people from Muslim countries, and in France, as far-right leader Marine Le Pen launched her bid for the French presidency.