Morning Market Outlook 07122024

In today's video, Stephen Whiteside from TheUpTrend.com provides a market update for Friday morning. He reports that stock index futures are trading around fair value, with mixed commodity prices—crude oil higher and gold down. The market is currently calm ahead of the PPI numbers release and some major US bank earnings. Thursday saw significant market swings, with money moving from big-cap tech stocks to underperforming sectors. Whiteside highlights the Canadian market's performance, noting new highs in the TSX 60, mid-caps, and small caps, with notable gains in gold stocks and financials. In the US market, there was a rotation from big-cap tech to other areas, with key indices hitting price targets. He concludes by discussing the performance of major stocks like Apple, Amazon, and Tesla, and reassures that while big-cap tech stocks have pulled back, the overall market remains robust. Stephen Whiteside TheUpTrend.com Friday, July 12, 2024 [00:00:01]: Friday Market Overview [00:00:19]: Preview of PPI Numbers and US Bank Reports [00:00:49]: Thursday's Market Swing and Big Cap Tech Stocks [00:01:13]: Canadian Market Performance Highlights [00:01:57]: Key Stock Movements in Canadian Market [00:02:20]: US Market Analysis and Price Targets [00:03:14]: Money Flow in US Market [00:04:04]: Tech Stocks and Market Trends [00:04:34]: Performance of Magnificent Eight Stocks [00:06:31]: Market Rotation and Future Outlook https://theuptrend.com/morning-market-outlook-07122024/