In Thursday morning’s market update, Stephen Whiteside recaps Wednesday’s volatile trading session, which ended with a strong month-end reversal to the upside. The NASDAQ leads premarket gains, while gold, silver, and crude oil continue to slide — a trend that may weigh on the Canadian market. Meta and Microsoft reported strong after-hours gains, while Eli Lilly is down in premarket trading despite a strong showing the day before. Market participants are eyeing upcoming economic reports, including jobless claims and manufacturing data, which could shift momentum further. The VIX remains on a sell signal, supportive of higher stock prices.
Stephen walks through market action in the TSX, Dow, S&P 500, and NASDAQ 100. Notable gainers include Gildan Activewear, Metro, Verizon, and Regeneron. Many indexes are pushing through key resistance levels like moving averages and the Flypaper Channel, suggesting bullish potential into early May. The session closes with a reminder that both the end and beginning of the month often exhibit a bullish bias due to automatic fund inflows. Viewers are encouraged to follow the trend and explore tools at TheUpTrend.com for more informed stock market timing.
Stephen Whiteside
Thursday, May 1, 2025
