BEFORE THE BELL: Microsoft and Amazon pull in big earnings; Korean peace talks boost global markets
Korean peace talks and a boosted tech sector are helping the global markets this morning.
Many tech big businesses have come in with better than expected earnings in their first quarters. Amazon was the biggest winner as it doubled profits by $1.6 billion with over $51 billion in sales in just three months. Amazon is also working on a deal with the NFL to stream Thursday night football games live. Microsoft is flirting with a record high for its shares following a positive earnings report. In pre-market trading the company’s shares are up 3.8 per cent to 97.91.
Political bodies on both sides of the Korean Peninsula are talking peace and an official end to the Korean War by the end of this year. This gave strength to Asian markets and the Nikkei grew by 0.6 per cent in overnight trading to close 22,467.
Oil continues to edge lower, down to 67.95 a barrel.
The Loonie is flat at 77.57 cents US.