Stephen Whiteside from TheUpTrend.com reviews the state of the stock market on Wednesday, December 4, 2024. Stock index futures are up, driven by a positive spin on Canadian bank earnings and flat commodities, while Bitcoin trades higher. The VIX remains on a sell signal, indicating bullish momentum, but potential pullbacks loom for the Dow and Russell 2000. Key sectors such as semiconductors and gold miners show strength, with silver and crude oil gaining traction, while energy stocks remain mixed.
Major companies like Apple, Meta, and Shopify reached new highs, while others like Nvidia and AMD struggle to maintain upward momentum. Canadian financial stocks displayed mixed results, with Royal Bank leading gains, while Bank of Nova Scotia and Great West Life declined. Bitcoin and its related ETFs hold their buy signals, suggesting ongoing strength in cryptocurrency markets.
Stephen Whiteside
TheUpTrend.com
Wednesday, December 4, 2024
