In Thursday’s premarket update, Stephen Whiteside discusses the calm in stock markets, noting slight declines in key indices like the S&P 500 and Nasdaq, with no indication of a trend change. Commodities, currencies, and bonds have settled down, while the Bank of Canada’s interest rate cut had little impact on the TSX 60.
Copper and gold stocks moved lower, while Tesla saw a surprise buy signal despite recent volatility. Crude oil, natural gas, and metals also saw declines. Whiteside highlights Tesla’s potential bullish turnaround, Bitcoin and Ethereum’s modest gains, and upcoming jobless claims data that could shift market sentiment.
Stephen Whiteside
TheUpTrend.com
Thursday, September 5, 2024
