BEFORE THE BELL: Pot stocks in limelight as legal sales kick off in Canada; IBM misses expectations, could hold back Dow
A miss in the tech sector could weigh down the Dow this morning. The Wall Street index barreled ahead yesterday as big business earnings rolled in with better than expected results. But, despite these gains, a fall in IBM’s earnings report is causing some downturn in pre-market trading.
After closing last night, Netflix released its earnings report, beating subscriber expectations by two million and boosting its own stock as well as other tech stocks within the so-called FANG group.
Across the border, pot stocks will be the hot topic on Bay Street as the first legal sales for recreational marijuana are already underway.
Meanwhile, the price of oil continues to slowly dip, down to 71.58 a barrel as US inventories grow in anticipation of Iranian exports drying up.
The energy-tied Loonie is down to 77.10 cents US.