Crude Oil Plunges 5%, Dow Hits New High, S&P Winners & Losers

This morning's stock market update focuses on the impact of falling crude oil prices on the Canadian market and the broader market movements in the U.S. The VIX is out of sync with the stock market, but this is attributed to seasonal tendencies and hedging by options traders. The Dow hit a new high, driven by gains in Apple and McDonald's, though Boeing and Caterpillar are showing weakness. On the S&P 500, Vistra Energy and Qualcomm were top performers, while Dollar General and Dollar Tree lagged. The Nasdaq saw gains, with ARM Holdings and Marvell leading, but PDD Holdings and Crowdstrike experienced pullbacks. Stephen Whiteside wraps up the update by highlighting movements in commodities like crude oil, gasoline, natural gas, and precious metals, noting that several are approaching key price signals. Stephen Whiteside TheUpTrend.com Tuesday, October 15, 2024 https://theuptrend.com/morning-market-outlook-10152024/