In Tuesday morning’s update, Stephen Whiteside discusses a strong pre-market rally in U.S. stock index futures, driven by President Trump’s decision to delay 50% tariffs on Europe. Meanwhile, commodities and Bitcoin are lower. Canadian markets traded lightly on Monday due to the U.S. holiday, but sectors like infotech, consumer discretionary, and real estate showed strength. Several TSX stocks are highlighted, including Ivanhoe’s sharp decline, new highs for White Cap, and potential buy signals for Canadian Natural Resources and Brookfield.
Stephen also covers key U.S. stocks, noting that Nvidia is testing resistance, Tesla remains on a buy signal, and stocks like Apple, Intel, and Ford continue to decline. A spike in uranium stocks and a speculative move in GameStop are also discussed. The VIX is lower but not enough to confirm bullish momentum yet. Stephen emphasizes the importance of watching how markets close today, not just how they open, especially with the 10am Consumer Confidence report looming.
Stephen Whiteside
Tuesday, May 27, 2025
