In today’s stock market update, Stephen Whiteside from TheUpTrend.com discusses the significant pre-market activity fueled by a Chinese AI product outperforming its U.S. counterparts. The Nasdaq is trading down 1,000 points, with tech and semiconductor sectors feeling the brunt, including Nvidia, which has dropped over 12%. Whiteside advises against reacting to the pre-market volatility and emphasizes waiting for the market’s closing prices to make informed decisions. Key events this week include the FOMC meeting, Bank of Canada updates, GDP data, and initial jobless claims, all of which could drive further market shifts.
He also highlights recent price movements in major indices and individual stocks, noting opportunities to lock in profits last week. Whiteside reviews TSX and U.S. most-active stocks, indicating sell signals for several names like Tesla, Palantir, and Lucid, while pointing out no significant changes for others like Apple and Enbridge. He concludes by encouraging viewers to focus on end-of-day prices for clarity and announces his next update for Tuesday.
Stephen Whiteside
TheUpTrend.com
Monday, January 27, 2025
