Facebook shares are in a downward spiral.  On the heels of disappointing quarterly earnings and a decline in its active users, the social media giant also reported revenue is projected to decline in Q3 and Q4.

Facebook shares are down 18-percent.

McDonalds has posted better than expected sales on the quarter.  International sales for the fast food chain are up 5-percent year over year.

The TSX has trimmed its earlier losses and is up 41 points to 16,462.  Gold stocks are the biggest drag on Bay Street today.  Overall the Gold Index is down 2.4-percent.

On Wall Street the Dow is up 147 points but the Nasdaq is being weighed down by the losses at Facebook.

Gold is down $5.20. The loonie is down to $0.7653 cents U.S and oil is up $0.53 to $69.79 a barrel.