Today’s premarket update covers various economic indicators and stock movements. Stephen Whiteside highlights that while stock index futures are quiet and trading near fair value, commodities such as crude oil and gold are seeing a rise. The consumer confidence report coming out at 10:00 a.m. is a significant data point for today’s market action. Stephen also points out resistance levels across major indices like the S&P 500, Nasdaq 100, and Russell 2000, while Canadian markets have broken through resistance levels, with banks and energy stocks playing a key role in the upward trend.
In terms of specific stocks, attention is drawn to semiconductors, Canadian energy stocks, and tech stocks like Meta, Shopify, and Tesla, which are pushing new highs. Stephen also delves into commodities, where crude oil is holding support, and gold and silver are showing minor pullbacks. He finishes by highlighting the performance of mining and energy sectors and top tech companies, such as Tesla, which is currently trading above key price targets.
Stephen Whiteside
TheUpTrend.com
Tuesday, September 24, 2024
