In Thursday’s premarket update, Stephen Whiteside from TheUpTrend.com noted that U.S. futures were quiet ahead of jobless claims data, which could shift market momentum. The VIX remains bullish but flat, signaling uncertainty, while major indexes like the S&P 500 and Nasdaq hover near resistance levels without significant breakthroughs. Semiconductors led gains, helping the Nasdaq, but broader markets showed muted movement.
Canadian markets also saw mixed results. NovaGold was a standout with a 24% gain, while Gildan Activewear and other TSX names remained on sell signals. Energy stocks retreated following inventory data, and U.S. most actives included strong showings from Applied Digital and Nvidia. Despite some buy signals emerging, many stocks continue trading sideways. Traders are watching closely for a breakout as volatility compresses.
Stephen Whiteside
Thursday, June 5, 2025
