BEFORE THE BELL: Markets shrugging off slump amid tech-sector selloff; Apple iPhone maker announces cuts in production
Markets are poised to come back from a two-day techno-dump. The tech sector sell off ran most markets into the red as investors opted for safe-haven options.
Meanwhile, Apple is coming back from its plunge related to reports of a cut in iPhone production. But, Apple’s biggest iPhone producer Foxconn announced this morning it is preparing cost-cutting measures in 2019 for smart phone assembly.
Ikea has announced it is cutting 7,500 jobs across the globe to focus on e-commerce amid a shift in consumer habits. It will also open 30 shops in big city centers.
Meanwhile, oil is coming back from another slump as US crude pushes to 54.43 a barrel.
The Loonie is gaining to 75.25 cents US.