BEFORE THE BELL: Tech stocks rebounding, but Amazon shares still left in the dust
North American markets are expected to balance from a drop yesterday led by losses in the tech sector and trade war concerns. Analysts say the Dow is expected to accelerate at the start. Facebook, Apple and Intel have all rebounded after losses yesterday. However, Amazon shares are down one per cent this morning after President Trump continued his tirade against the company’s tax-free practices in the US.
The drop in tech and electronic shares caused havoc for Asian markets as the Nikkei fell half a per cent in overnight trading to 21,292. This was mostly caused by drops of over two per cent in Nintendo and Nikon.
This morning oil is gaining following a dip on news of higher production of crude in Russia. The price of crude is up to 63.28 a barrel. Gold is down to 1,340 an ounce. The Loonie is climbing to 77.63 cents US.