Stocks looked set for a weaker open on Wednesday, with the NASDAQ leading futures lower ahead of a busy earnings day featuring companies including AT&T, IBM, and Tesla. While commodities were higher—with crude oil up more than $3 and gold nearly $50 higher—the overall market remained in a wait-and-see mode. Rather than chasing fresh buy signals, the emphasis was on waiting for stronger technical confirmation before taking new positions.
The Canadian market showed resilience as higher commodity prices helped offset tariff concerns, while South Korea’s fading momentum and weakness in semiconductor stocks created caution for technology investors. Gold returned to a buy signal, energy stocks continued to strengthen alongside rising crude oil prices, and the outlook remained constructive for Canadian resource stocks. With earnings season accelerating, investors should expect increased volatility in individual stocks.
Stephen Whiteside
Wednesday, July 22, 2026
