The markets are quiet ahead of today’s Federal Reserve announcement, with stock index futures slightly positive and commodities like crude oil ticking higher. Stephen Whiteside discusses the bullish bias typically seen around month-end and emphasizes that volatility is expected this afternoon during the Fed press conference. Despite a bearish reversal day on Tuesday, major indexes like the NASDAQ 100 and ETFs such as the 3x Technology Bull are still trading above key levels. The VIX remains on a sell signal, indicating limited fear in the market.
Sector highlights include a surge in Canadian tech led by Celestica, which exceeded projected trading ranges and set new targets. Meanwhile, the Marijuana sector saw sharp declines, with Tilray leading the drop. The Magnificent Seven stocks were mixed, with Apple slipping onto a sell signal while Nvidia hit new highs. Commodities were generally flat, but crude oil showed signs of life, hinting at a potential breakout in the energy sector. Gold and silver remained quiet, with gold stocks slightly up despite muted metal prices.
Stephen Whiteside
Wednesday, July 30, 2025
