In Thursday morning’s market update, Stephen Whiteside of TheUpTrend.com highlights a quiet pre-market session ahead of the U.S. jobless claims report. Wednesday marked a significant day with Nvidia briefly surpassing a $4 trillion valuation before pulling back, hitting a key resistance level at $162.50. Microsoft also closed above the $500 mark, with a potential move to $515.63 ahead. In Canada, the TSX continues to climb, with key targets at 37.50 and 40.63. Natural gas saw a steep decline, hitting new lows, boosting bear ETFs while dragging down bull ETFs. Volatility indices dropped across the board, signaling continued bullish sentiment in equities.
The update also covers sector winners and losers: Wheaton and Endeavor Silver led gains in the TSX, while OpenText and Ero Copper declined. In the U.S., Boeing led gains on the Dow, while United Healthcare slipped. The S&P 500 gained 0.6%, with DR Horton as the standout winner and Fair Isaac among the laggards. MicroStrategy topped the NASDAQ 100, driven by its Bitcoin exposure, while Monster Beverage extended losses. Traders are now eyeing the impact of the upcoming jobless claims data to guide Thursday’s session.
Stephen Whiteside
Thursday, July 10, 2025
