Here's your update on US and Canadian markets, curated by Trading Central expert analysts! These are starting points for your own research to identify opportunities that make sense for you.
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| Here's your update on US and Canadian markets, curated by Trading Central expert analysts! These are starting points for your own research to identify opportunities that make sense for you. |
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| Last Price |
Technical Views |
Target |
Pivot |
Technical Views |
Last Price |
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| S&P/TSX 60 (TMX) |
2,083.00 |
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| Dow Jones (CME) |
52,850.00 |
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| Nasdaq 100 (CME) |
29,870.00 |
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| Russell 2000 (CME) |
2,976.00 |
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U.S. market futures are mixed. On Monday, U.S. stocks fell amid surging oil prices, with the Nasdaq 100 sliding 561 points (-1.88%) to 29,264, the S&P 500 down 60 points (-0.79%) to 7,515, and the Dow Jones down 138 points (-0.26%) to 52,498.
U.S. President Donald Trump announced the reinstatement of a naval blockade on Iranian vessels in the Strait of Hormuz. He also proposed a 20% toll on all cargo shipped through the strait.
On the economic front, in the U.S., inflation rate is expected to ease to 3.9% year-on-year in June, while the Federal Reserve chairman Kevin Warsh will testify before the House Financial Services Committee.
European indices are trading lower.
Asian indices were mixed. On the stat front, Australia's Westpac consumer confidence index climbed to 83.9 in July and the NAB business confidence index improved to -5 in June, both better than expected. On the other hand, China's exports rose 27.0% year-on-year in June and imports jumped 36%, both above expectations.
WTI crude oil prices extend gains, hitting a one-month high, on supply fears as Middle East tensions escalate.
Gold is slightly up, recovering from a two-week low ahead of US inflation figures.
Bitcoin gains some ground, currently trading around 62,600 dollars. |
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IBM (IBM), a global technology and consulting firm focused on cloud and A.I., plunges after reporting preliminary second-quarter results, with both adjusted EPS and revenue coming in below expectations.
JPMorgan Chase (JPM), the banking group, reported second-quarter EPS up to 7.70 dollars, from 5.24 dollars a year earlier, driven by its investment-banking business. In addition, the group raised its 2026 expense guidance to 107.5 billion dollars.
Bank of America (BAC), the financial institution, published second-quarter EPS up to 1.21 dollar from 0.90 dollar a year ago, driven by strong trading activity.
Wells Fargo (WFC), one of the big 5 banks in the U.S., posted second-quarter net income up 17% to 6.41 billion dollars, notably driven by higher interest income. Also, revenue rose 9% to 22.62 billion dollars.
Paramount Skydance (PSKY): California and 11 states sued to block the media and entertainment company's 110 billion dollar acquisition of Warner Bros. Discovery (WBD).
Apple (AAPL), the consumer electronics company, was downgraded to "underweight" from "sector weight" at KeyBanc.
Progressive (PGR), an insurance company, was downgraded to "neutral" from "overweight" at JPMorgan. |
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JPMorgan Chase (JPM)
Bank of America (BAC)
Goldman Sachs (GS)
Wells Fargo (WFC)
Citigroup (C)
Fastenal (FAST)
Ericsson (ERIC) |
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Thomson Reuters (TRI), a leading provider of business information services, reached an agreement to sell a 51% stake in its Global Print business to private equity firm KKR (KKR) for about 500 million dollars.
Imperial Oil (IMO): JPMorgan raised its price target on the energy company to 158 dollars from 149 dollars. |
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| No major earnings expected. |
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| S&P 500 (CME) (U6) intraday: further advance. |
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| Pivot: |
| 7570 |
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| Our preference: |
| Long positions above 7570 with targets at 7610 & 7630 in extension. |
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| Alternative scenario: |
| Below 7570 look for further downside with 7555 & 7538 as targets. |
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| Comment: |
| The next resistances are at 7610 and then at 7630. |
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| S&P/TSX 60 (TMX) (U6) intraday: consolidation in place. |
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| Pivot: |
| 2092 |
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| Our preference: |
| Short positions below 2092 with targets at 2072 & 2062 in extension. |
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| Alternative scenario: |
| Above 2092 look for further upside with 2101 & 2107 as targets. |
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| Comment: |
| The RSI is below its neutrality area at 50% |
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BULLISH TECHNICAL EVENTS (US) |
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| Technical Score |
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Short-Term |
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Medium-Term |
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Long-Term |
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| Quant Rating |
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65 |
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| Strong |
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Triple Moving Average Crossover
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Trading closed at 211.80 to confirm a Short-Term Triple Moving Average Crossover pattern.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average periods.
Read More
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| Palantir Technologies Inc |
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| Technical Score |
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Short-Term |
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Medium-Term |
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Long-Term |
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| Quant Rating |
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63 |
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| Strong |
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Price Crosses Moving Average
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Trading closed at 133.72 to confirm an Intermediate-Term Price Crosses Moving Average pattern.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars).
Read More
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BULLISH TECHNICAL EVENTS (CA) |
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| Technical Score |
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Short-Term |
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Medium-Term |
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Long-Term |
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62 |
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| Strong |
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Price Crosses Moving Average
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Trading closed at 31.59 to confirm a Long-Term Price Crosses Moving Average pattern.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars).
Read More
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| Rogers Communications Inc |
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| Technical Score |
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Short-Term |
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Medium-Term |
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Long-Term |
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| Quant Rating |
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64 |
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| Strong |
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Momentum
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Trading closed at 46.34 to confirm a Short-Term Momentum pattern.
Tells Me: For bullish events, upward momentum has just built up with the latest price now trading higher than the price 10 bars ago. The opposite is true for bearish events where we're seeing downward momentum now that the price is trading lower than 10 bars ago.
Read More
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Questrade, Inc.
5700 Yonge Street, Unit G1 – Ground Floor
Toronto, ON M2M 4K2 Canada
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