In this financial market update, Stephen Whiteside from theuptrend.com discusses the state of various indices and commodities as of Friday morning. He notes that stock index futures are below fair value and commodities are mixed, with gold up and crude oil slightly down. The market’s direction could change at 8:30 a.m. when the PPI numbers are released. Over the week, the S&P 500 is up by half a percent, the Nasdaq by over 1%, and the TSX by over half a percent. He mentions specific stocks, such as Apple, Boeing, and Chipotle, discussing their current trends and buy signals. Whiteside also highlights Canadian stocks like Hydro One and Canadian Natural Resources, providing insights into their performance and potential trading strategies.
Whiteside further covers the U.S. and Canadian most active stocks, noting significant movements in companies like Nvidia, Tesla, and Pfizer. He discusses the performance of Canadian banks like TD Bank and Bank of Nova Scotia, as well as energy companies like Suncor and Enbridge. Throughout his analysis, Whiteside emphasizes the importance of monitoring stock trends, noting potential buy or sell signals based on market movements. He concludes by reminding listeners of the PPI numbers’ potential impact and wishing those in Canada a happy long weekend, as markets will be closed on Monday.
Stephen Whiteside
TheUpTrend.com
Friday, October 11, 2024
