BEFORE THE BELL: Tech sector weights markets again; Blackberry buying AI security firm for $1.4 billion
The tech sector is putting more weight on global markets this morning. Chip-maker Nvidia is the latest to drive down the sector with a loss in sales. This follows Apple’s slide as analysts are predicting the overall appetite for devices using these chips is declining steadily. The drop pulled down the Nikkei, before the Japanese index closed .5 per cent lower.
The price of crude continues to gain strength following a two-week slump, US oil is up to 57.59 a barrel.
But, Canadian crude is a different story after the product hit a record low above $14, sparking calls for Alberta to put a cap on production.
This isn’t hitting the Loonie, which continues to grow to 75.93 cents US.
Canadian company Blackberry is buying out an AI security firm for $1.4 billion, in one of its biggest deals in history. The acquisition is reportedly part of Blackberry’s technology development for autonomous cars.