BEFORE THE BELL: Global markets dip under tech sector weight; Rogers and GE boost shares with better than expected quarterly stats
World stocks are down despite a second week of overall gains across the globe. The MSCI, which measures global markets, is down 0.3 per cent this morning. Analysts say some of the dip comes from the tech sector, as the world’s largest chip-maker for smart phones lowered expectations for revenue saying device demand is down. Apple has suffered the same problem as interest in the iPhone 8 has reportedly been lacking.
The Nikkei dropped 0.1 per cent in overnight trading with this tech sector weight closing at 22,162.
Rogers could boost the TSX this morning though as the company reported better than expected earnings yesterday. The company reportedly gained 95,000 new subscribers, about 40,000 more than predicted. Rogers shares are up 1.24 per cent following the news.
Across the border, GE is expected to help Wall Street as earnings per share jumped from one to four cents with its quarterly earnings beating expectations.
This morning oil has backed off slightly from a global rally caused by a drop in supplies. The price of crude is down to 68.06 a barrel.
The Loonie has pushed up to 79 cents US.