In Wednesday’s premarket update, we discuss how stock index futures are trading around fair value, with no major economic data expected today. Commodities are mixed, with down and gold slightly higher. Apple (NASDAQ:) nearly hit its target price of $237.50, and semiconductor stocks like ASML (AS:), KLA, and Lam Research (NASDAQ:) faced sharp losses, signaling a shift toward bearish ETFs.
We also note that energy stocks were hit hard due to the continuing drop in crude oil, prompting buy signals for bear ETFs. Despite volatility in U.S. markets, the saw an inside day of indecision. Financial stocks such as TD Bank (TSX:) and Canadian Natural Resources (TSX:) saw declines, while others like Royal Bank and Enbridge (TSX:) hit new highs. Several U.S. stocks, including Nvidia (NASDAQ:) and AMD (NASDAQ:), have either hit price targets or reversed trends.
This content was originally posted on the Stock Market Timing YouTube Channel
