In Thursday’s pre-market update, Stephen Whiteside reviews quiet index futures alongside heavy volatility in the Magnificent Seven stocks. Following the Fed meeting, both the stock market and U.S. dollar stabilized, while gold and silver continued to push to new highs. The S&P 500 briefly touched 7,000 before pulling back, with higher mathematical targets still in play if that level can be reclaimed.
Semiconductors led the market higher, posting strong gains across multiple names, while commodities outperformed and financials lagged. Small caps, microcaps, and equal-weighted indexes showed signs of weakness, raising the possibility of near-term sell signals. Overall, commodities remain strong, tech is volatile, and market timing remains critical.
Stephen Whiteside
Thursday, January 29, 2026
