Oil Above $100, Gold Near $4,000: What’s Next for the Markets?
U.S. stock index futures are trading above fair value ahead of Monday’s open, but investors face a potentially volatile week. The Federal Reserve and Bank of Canada will announce interest rate decisions on Wednesday, while approximately 44% of S&P 500 companies are expected to report earnings this week. Month-end trading and seasonal market strength could also influence direction. Meanwhile, the VIX remains on a buy signal for the S&P 500, NASDAQ, and Russell 2000, indicating continued market uncertainty.
Market performance remains uneven, with defensive sectors such as healthcare, utilities, and consumer staples attracting attention while technology and communication services face pressure. The S&P 500 remains on a sell signal, with 7,653 an important level to reclaim and 750 identified as the next downside target if weakness continues. In Canada, the TSX remains on a buy signal, supported by financial and energy stocks. Crude oil remains above $100, while gold is struggling to hold $4,000. Investors should watch interest rate announcements, earnings results, sector rotation, and key technical levels for signs of changing market direction.
Stephen Whiteside
Monday, October 26, 2026
