In today’s stock market update, Steven Whiteside from TheUpTrend.com discusses pre-market trends, noting that stock index futures and commodities are trading above fair value ahead of GDP and jobless claims reports. He reviews the impact of Fed Day, highlighting market volatility and an inside day for indices like the NASDAQ 100. The TSX hit a key resistance level, with energy and materials showing strength, while real estate struggled despite an interest rate cut from the Bank of Canada. Key market movers include Nvidia, Tesla, and Alibaba, with notable price action in US and Canadian equities.
The update also covers sector performance, where Communication Services led with gains, while real estate and technology lagged. Whiteside provides insights into the most active stocks, including signals for potential buy and sell opportunities. He emphasizes the importance of timing in trading and encourages viewers to engage with the content by liking, commenting, and subscribing. The next video update will be available for members on Sunday, with a public market review on Monday.
Stephen Whiteside
TheUpTrend.com
Friday, December 6, 2024
