In Thursday morning’s market update, Stephen Whiteside highlights a weaker tone in the premarket as stock index futures and bonds both trend lower. Key economic reports, including jobless claims, could sway market direction throughout the day. TD Bank reported earnings with mild upside, while the bond market continues to slide, pressuring equities. The TLT dropped further in premarket trading, and the U.S. dollar index reversed to a sell signal. Major indices like the Dow broke out of their normal range, triggering caution signals. Commodity stocks—silver, gold, and copper miners—were among the few winners, while transport, regional banks, and tech were the biggest laggards.
The VIX spiked, putting volatility back on the radar. Bitcoin surged, trading near 112,500, while gold retreated slightly after a strong move. Among major stocks, Apple and Shopify issued new sell signals, while Alphabet and Broadcom showed strength. Tesla continues to struggle at resistance, adding to market caution. The Canadian information technology sector was the biggest local loser, down over 2%. Stephen closes the presentation with a reminder to monitor market reactions to economic data and bond yields.
Stephen Whiteside
Thursday, May 22, 2025
