Thursday’s market outlook begins with a quiet pre-market session, with Nasdaq futures modestly higher while crude oil, gold, and silver show only small gains. Jobless claims and housing data could influence the day’s direction. Wednesday brought a bullish intraday reversal in technology stocks, making recent support levels in the Nasdaq, Nasdaq 100, semiconductors, and the TSX especially important for traders to monitor.
Commodity leadership shifted sharply, with Canadian and U.S. energy stocks strengthening as crude oil and gasoline moved higher, while gold, silver, copper, and mining stocks weakened. Broadcom and NVIDIA generated new buy signals, while Apple remained near resistance after a bearish reversal signal. Bond prices continued lower and yields moved higher, creating a potential headwind for the broader stock market despite the recovery in technology.
Stephen Whiteside
Thursday, July 9, 2026
