BEFORE THE BELL: Facebook Shares Drop Dramatically; Loonie Looking Up
All eyes will be on Facebook today.
The social media giant reported lower than expected revenue and fewer active users late yesterday. In pre-market trading shares are down 19-percent. CEO and Founder Mark Zuckerberg has lost $16-billion in the last 12 hours.
In overnight trading European markets gained ground and Dow futures are up 28 points.
Canadian gold producers may have a rough day after both Barrick Gold and GoldCorp reported disappointing quarterly results after the bell yesterday.
Toy maker Mattel blamed the closure of Toys R Us for missing its sales estimates and has announced they will cut 2,200 jobs.
The loonie is up to $0.7675 U.S.
Oil is down slightly to $69.21 a barrel and gold is also down $3.70 to $1,227 an ounce.
More key earnings to come today including Amazon and McDonalds.