Today is Fed day, and stock index futures are trading above fair value in the pre-market. Crude oil inventories will be released later this morning, which could influence energy stocks, while the main focus remains on the Federal Reserve's interest rate decision and subsequent press conference. Market sentiment has shifted from expecting a 25 basis point cut to a 50 basis point cut, but Fed days typically cause volatility, making it risky to bet on the market's immediate direction. The stock market is currently overbought, with the VIX elevated, indicating heightened market uncertainty. Major indices such as the S&P 500, Nasdaq, and Russell 2000 are approaching highs, while bond markets, especially junk bonds, continue to show bullishness. Canadian and U.S. financial stocks are performing well, with several sectors making new highs. However, this volatile period means caution is warranted, especially ahead of the Fed's announcements. Stephen Whiteside TheUpTrend.com Wednesday, September 18, 2024 https://theuptrend.com/morning-market-outlook-09182024/

In the premarket on Wednesday, stock index futures are trading lower as the market awaits key CPI data. Energy inventories are also in focus after crude oil hit a new low. The market was volatile on Tuesday, with large financial stocks like JPMorgan and Goldman Sachs dragging the market down. However, real estate and tech stocks helped the market recover by the close. While the S&P 500's VIX remains stable, the Russell 2000 shows weakness, indicating a risk-off trade in mid and small-cap stocks. Energy stocks continued their downward trend, while gold and silver showed slight gains. Cryptocurrencies, including Bitcoin and Ethereum, were up on Tuesday but down in the premarket on Wednesday. Bank stocks held strong despite the broader market's volatility. Stephen Whiteside TheUpTrend.com Wednesday, September 11, 2024 https://theuptrend.com/morning-market-outlook-09112024/

In today’s pre-market update, Stephen Whiteside discusses the mixed signals from Dow and Nasdaq futures, along with the upcoming Fed meeting, which will likely determine market volatility. The bond market shows strength, with bond yields moving lower, while key commodities like gold, silver, and copper are all gaining ground. Energy markets also saw movements, with potential buy signals for crude oil and gasoline. The S&P 500 is approaching all-time highs, and the Nasdaq is recovering despite lingering uncertainty. The Canadian market is also strong, with ETFs and financials making new highs. Whiteside also reviews key stocks like Nvidia, Tesla, and Palantir, all of which remain on buy signals, while some stocks like Intel and American Airlines are still trending downward. Stephen Whiteside TheUpTrend.com Monday, September 16, 2024 https://theuptrend.com/morning-market-outlook-09162024/