In Wednesday’s premarket video, Stephen Whiteside discusses a mixed open for the markets amid key economic reports and major earnings announcements. He highlights the ADP employment data, GDP figures, and crude oil inventory as important catalysts for the day. Oil and natural gas have reversed signals, with energy stocks struggling despite previous buy signals. The VIX remains on a sell signal, generally supportive of higher stock prices.
Stephen also reviews major ETFs and individual stocks, noting that many are encountering resistance at moving averages or open gaps. Key names like Nvidia, Amazon, Apple, and Tesla show potential but remain range-bound. On the Canadian side, big banks like Royal Bank, TD, and Bank of Nova Scotia are hitting new highs or resistance levels. He ends by pointing out that month-end bias may provide a temporary bullish buffer and urges caution amid a lack of corporate guidance, a possible signal of softening expectations going forward.
Stephen Whiteside
Wednesday, April 30, 2025
