MID-DAY: Tech stocks on the rebound; the Loonie pushes past 78 cents US
Trade war concerns are still troubling investors as Trump is reportedly preparing to release new trade sanctions against China. This follows new tariffs announced by Chinese officials against American imports yesterday in the battle back and forth between the two economies. On Bay Street, the TSX is dropping to 15,184. The Dow is gaining up to 23,816 on Wall Street.
FAANG tech stocks including Alphabet, Netflix and Amazon are all recovering from losses yesterday. Amazon shares were particularly hard hit after Trump continued to attack the company for avoiding paying taxes and taking advantage of the US postal service. Investors now have an opportunity to buy shares in Sweden-based music app Spotify.
Oil is up to 63.47 a barrel.
The Loonie has passed the 78 cent mark and is climbing to 78.11 cents US.