MID-DAY: Tech sector continues to weight markets; Oil slips again
North American markets are dipping as tech and commodity sectors continue to drag.
The TSX is gaining only slightly by 8 points to 16,503 and across the border the Dow is dipping 29 points to 25,034.
This comes as Netflix shares continue to plummet after taking a sharp drop in pre-market. The company admits it overestimated its subscriber base for the last quarter as it came in short of analyst estimates. Netflix shares are down over 50 bucks to 347.
Amazon shares are also dragging after Prime Day started with a technical glitch and as Amazon workers across the globe go on strike citing terrible working conditions.
The price of crude is tumbling once more despite a bit of recovery this morning, US crude is down to 67.44 a barrel. The fall comes as Libya has confirmed it will be exporting crude again and Saudi Arabia vowed to up production.
The Loonie is dipping to 75.81 cents US.