In today’s Monday morning update, we discuss mixed activity in the stock market. Friday was an inside day following Thursday’s down day, and we await a breakout or breakdown from Thursday’s trading range. Key stocks in the news include Nvidia (NASDAQ:NVDA), which is set to replace Intel (NASDAQ:INTC) in the Dow 30, with Nvidia trading higher and Intel trading lower. Crude oil has gained in the premarket, potentially signaling a buy signal if the trend holds.
We also highlight various sectors and stocks, including insurance, which saw a breakdown, while U.S. bonds declined. Canadian stocks showed mixed results, with some like Bank of Montreal (TSX:BMO) experiencing an inside day and others like Cenovus (TSX:CVE) hitting new lows. U.S. stocks like Peloton (NASDAQ:PTON) saw reversals, while Amazon (NASDAQ:AMZN) had a significant reversal on Friday, trading above $200.
This content was originally posted on the Stock Market Timing YouTube Channel