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HomeBusiness ReportBefore the bell: Google down in wake of data breach

Before the bell: Google down in wake of data breach

Shares of Google’s parent company Alphabet Inc. head into the trading day lower.

They closed down 1.5 per cent yesterday as investors reacted to the news of the data breach at, and closure of, the social network Google+.

Investors on Bay Street will be mulling over a report from the International Monetary Fund when the floor opens back up after yesterday’s Thanksgiving holiday.

The IMF announced today it has cut its global economic growth forecasts for 2018 and 2019 to 3.7 per cent for both years, down from 3.9 per cent. The IMF says things like the import tariffs between China and the United States, rising interest rates and weak economic performance in places like Britain and Japan are to blame.

At press time oil is up 46 cents to $74.75 U.S. per barrel, gold is up $4.60 to $1,193.20 an ounce, and the loonie is down a shade to 77.08 cents U.S.

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