In this morning’s update, Stephen Whiteside from TheUpTrend.com discusses the positive premarket conditions and the influence of the upcoming US GDP and initial jobless claims reports on market sentiment. He highlights significant stock movements, noting the ongoing challenges for Super Micro, a strong performance by Canadian banks, and key earnings reports from companies like CIBC and Nvidia. Additionally, he covers the broader market trends, including the stability of the VIX, fluctuations in currency and bond markets, and the current state of cryptocurrencies.
Whiteside also examines commodity prices, pointing out the continued buy signals for copper and gold miners, despite some pullbacks. He provides insights into the major index ETFs, noting the resilience of the TSX and the mixed performance in the US markets, with financials showing strength. The video concludes with a look at top-performing stocks on the TSX 60 and Dow 30, where non-tech companies are currently leading the charge, a shift from recent trends
Stephen Whiteside
TheUpTrend.com
Thursday, August 29, 2024
