BEFORE THE BELL: Investors face down inflation fears; Shopify fourth quarter report shows major growth
Investors appear to be moving past inflation fears as global markets are on the road to recovery. Following strong gains for US markets on Wednesday, Asian markets had a similar trend as the Nikkei closed higher at 21,464.
The VIX, which is used as an investor fear gauge, is also reflecting more positive investor vibes as it dropped to 18. Analysts were concerned Wednesday numbers showing strong US inflation would spark another market selloff. But, experts say this sudden turnaround is a bit difficult to explain.
Oil prices are on the rise as well after tumbling at the start of the week. Crude is up 0.18 to 60.78 a barrel this morning.
The Loonie is also finding better footing, up to 80.08 cents US.
Gold is down 3.60 to 1,354 an ounce.
Ottawa-based Shopify is reporting major earnings in its fourth quarter. The company’s total revenue for the quarter was just over $130 million. Shopify also had a record number of retailers join its platform surpassing 375,000.