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The major US stock indices are trading mixed with the NASDAQ index lower. The S&P and Dow industrial average or higher. The small-cap Russell 2000 is also higher in on pace for a record close (above 2531.13).

A snapshot of the market currently shows:

• Dow industrial average up 241 points or 0.51% at 47801.63.
• S&P index up 7.19 points or 0.11% at 6847.55.
• NASDAQ index down one is 47.59 points or -0.20% at 23528.
• Russell 2000 up 8.65 points or 0.34% at 2534.92.

Palantir (PLTR) +3.08%

Palantir led the winners list today, continuing its steady momentum as investors rotate back into AI-driven defense and data-analytics names. The company has benefited from a stream of new government-contract headlines in recent weeks, and sentiment remains strong as traders bet on resilient demand for its AI-enabled decision-intelligence platforms.

Nike (NKE) +2.91%

Nike extended gains amid improving consumer discretionary sentiment and optimism around global retail demand. Analysts have been highlighting better inventory management and stabilization in China — two key overhangs that pressured shares earlier in the year. Dip-buyers have been active as the stock attempts to build a multi-week base.

Western Digital (WDC) +2.86%

Western Digital rallied as traders continue to price in firmer NAND pricing and optimism surrounding the company’s storage business transformation. The AI hardware cycle has also lifted sentiment across memory-related names, and WDC often moves sharply when investors expect stronger enterprise-storage demand into 2026.

Ciena Corp (CIEN) +2.46%

Ciena posted a solid gain with buying interest tied to expectations for stronger optical-networking demand. As telecom carriers increase spending to support AI-related data-traffic growth, Ciena’s high-capacity transport equipment remains well-positioned. Recent analyst commentary has pointed to improving order visibility.

Southwest Airlines (LUV) +2.36%

Southwest rose as travel-demand metrics continue to improve heading into the peak holiday season. Lower fuel-price expectations have also provided a tailwind for airlines broadly. Bargain-hunters may be stepping in as the stock remains valued lower than peers despite operational improvements.

American Express (AXP) +2.29%

American Express climbed after another stretch of strong spend-trend data, particularly in services, travel, and higher-income consumer categories — areas where AXP is heavily weighted. Investors continue to reward the stock’s resilient credit-quality profile amid uncertain macro conditions.

General Motors (GM) +2.25%

GM advanced as sentiment toward automakers improved on better production-flow updates and ongoing cost-control progress. The market has also responded positively to the easing of supply-chain noise and expectations for a more orderly EV rollout strategy into next year.

JPMorgan (JPM) +2.14%

JPMorgan gained as bank stocks broadly benefited from stabilizing yields and better-than-expected credit conditions. Investors continue to view JPM as the sector’s safest balance-sheet play, and the stock often outperforms when markets anticipate improved loan growth and fee-income resilience.

Qualcomm (QCOM) +2.00%

Qualcomm moved higher on continued optimism around AI-enabled smartphones and improved chip-cycle dynamics. Traders have been positioning for stronger handset shipments and higher premium-tier demand, both of which feed directly into Qualcomm’s revenue mix.

Oracle Earnings Preview: Stock Stabilizes After 36% Slide

Key Points

• Oracle reports after the close, with expectations of $1.64 EPS on $16.19B revenue.

• Shares are still down 36% from September’s highs, pressured by concerns over rising AI and infrastructure buildout costs.

• Technically, the stock is trying to base above the 200-hour MA ($212.66), with a more bullish shift requiring a break above the 50% midpoint at $232.29.

Oracle will report earnings after the close, with the market expecting EPS of $1.64 on revenue of $16.19 billion. Shares are trading modestly lower ahead of the release, down $0.66 (-0.30%) at $220.88.

The bigger story, however, is the stock’s steep slide over the last three months. Oracle has fallen 36% from its September high of $345.72, as concerns about rising infrastructure and AI-related buildout costs continue to weigh on investor sentiment.

Technically, the stock has begun to stabilize. Over the past week, price has reclaimed the 200-hour moving average at $212.66, and holding above that level remains a key line in the sand for buyers looking to build a base.

A more constructive upside signal would come from a sustained move above the 50% midpoint of the 2025 trading range at $232.29. Clearing – and holding – that level would suggest growing momentum and give bulls more confidence that the worst of the pullback may be behind the stock.

Broadcom Earnings Preview: Strong YoY Growth Already Priced In

Key Points

• Expected EPS of $1.867 reflects a 31.5% YoY increase, with revenue projected at $17.47B, up 24.3% from last year.

• Shares hit a record high of $406.29 yesterday and remain up 73.48% year-to-date, signaling high expectations.

• Stock is slightly lower today at $402.12 (-1.03%), suggesting pre-earnings profit-taking after a major run-up.

Broadcom will report earnings tomorrow, with analysts expecting EPS of $1.867, up about 31.5% from last year’s $1.42, and revenue of $17.47 billion, an increase of roughly 24.3% from the $14.05 billion reported a year ago.

The company heads into the announcement with strong momentum. Yesterday, Broadcom shares closed at a new all-time high of $406.29, and the stock is up an impressive 73.48% year-to-date—a clear sign that a significant amount of optimism is already baked into the price.

Today, the stock is pulling back modestly ahead of the report, trading at $402.12, down $4.20 (-1.03%). The dip likely reflects some profit-taking after the sharp run-up, as investors brace for an earnings release that will need to deliver another beat to justify the stock’s remarkable advance.

This article was written by Greg Michalowski at investinglive.com.

The Investing Club holds its “Morning Meeting” every weekday at 10:20 a.m. ET.

As widely anticipated, the Bank of Canada (BoC) kept its benchmark interest rate at 2.25% at its event on Wednesday.

Governor Tiff Macklem took questions from reporters, offering more detail on the central bank’s thinking. His remarks followed a widely expected decision to leave the policy rate unchanged at 2.25%.

Russia Consumer Price Index (MoM): 0.42% (November) vs previous 0.5%

Press conference following the Bank of Canada rate decision has started.

BOC Gov. TIff Macklem and Senior Deputy Gov. are answering the questions from the press:

• Markets can count on us taking decisions one at a time.
• We will be assessing data relative to our outlook.
• Asked about statistics, Canada revisions to GDP says that StatCan as a very tough job.
• Improvement in the labor market is encouraging.
• Businesses are cautious about hiring investment plans.
• Recent jobs data as it changed the bank’s economic outlook.

What levels should traders watch through the press conference

Technically, the 100 hour moving average remains a short-term target to get above for a more bullish short-term bias shifts. On the downside the 50% midpoint at 1.3839 is the close support level that is broken would shift the short-term bias more to the downside.

This article was written by Greg Michalowski at investinglive.com.

Key Data Summary (Actual vs. Estimate vs. Prior)

• Crude Stock: -1.812M vs -2.310M est. (Prior +0.574M)

• Distillate Stock: +2.502M vs +1.943M est. (Prior +2.059M)

• Gasoline Stock: +6.397M vs +2.764M est. (Prior +4.518M)

• Crude Imports: +0.212M vs Prior -0.470M (no estimate)

• Refinery Utilization: +0.4% vs 0.3% est. (Prior +1.8%)

• Crude Cushing Stocks: +0.308M vs Prior -0.457M (no estimate)

Market Summary — Inventories vs. Expectations

This week’s EIA report showed a smaller-than-expected crude draw but the drawdown was less than the private data released late yesterday.

The major standout in the report today was higher than expected gasoline and distillate builds, both of which came in sharply above forecasts — a bearish signal for refined product demand. The private data also showed a gasoline in distillate build.

Crude imports flipped from a decline to a rise, refinery utilization ticked higher, and Cushing stocks increased modestly — all reinforcing a theme of supply increasing faster than demand this week.

The private data released late yesterday showed:

• Crude -4800K
• Prior was +2480K
• Gasoline +7000K
• Distillates +1000K

The price of crude oil is trading down $0.42 or -0.72% at $57.83.

This article was written by Greg Michalowski at investinglive.com.

• Yesterday, the RBA held rates steady, but Governor Bullock delivered a hawkish-leaning message, lifting rate-hike odds into early 2026.

• AUDUSD tested multi-day resistance near 0.6648–0.6654, but sellers repeatedly capped gains.

• The rising 100-hour moving average at 0.6632 remains the key near-term support, repeatedly attracting dip buyers.

• Range remains tight, with buyers and sellers battling between well-defined levels as traders wait for a momentum breakout.

• A break below 0.6632 or above 0.6654 will determine the next directional push

Yesterday the RBA held rates steady but leaned to more hawkish

The Reserve Bank of Australia left its cash rate unchanged yesterday, as widely expected. However, the tone from Governor Bullock surprised markets by leaning more hawkish than anticipated. She reiterated that the RBA remains prepared to hike again if inflation fails to moderate, and with the next policy meeting not until February—after the Bank’s summer break—markets are increasingly pricing the risk of a February or early-2026 hike.

The signal was clear: the RBA is not declaring victory on inflation, and the window for another tightening move is still open.

AUDUSD Reaction: Breakout, Failure, and Return to Support

In response to the hawkish tilt, AUDUSD initially pushed higher, rising above prior swing highs from Friday, Monday, and early Tuesday at 0.66488, and extending to 0.6654. But after failing to break through that ceiling, the pair quickly rotated back lower.

During early Asia-Pacific trading today, the pullback reached the rising 100-hour moving average, where buyers stepped in and defended support, pushing the pair back above 0.6648 and retesting the 0.6654 high. Once again, sellers prevailed, sending the price lower.

This repetitive pattern underscores the power of the current range structure.

Technical Battle Zone: Resistance vs. Support

The price action has become highly technical, with traders respecting clear, well-defined levels:

Resistance Zone:

0.6648 – 0.6654
This level has capped rallies for four consecutive trading days, signaling strong selling interest and profit-taking on each test.

Support Zone:

Rising 100-hour moving average (currently 0.6632)
Buyers continue to lean aggressively on this dynamic trend support.

The pair is essentially oscillating between these two areas, building energy for a larger breakout.

What Traders Should Watch Next

Bearish Scenario

If sellers finally push the price below the 100-hour moving average, and the pair stays below it, momentum could accelerate toward the next key downside target:

• 200-hour moving average near 0.6598

A break of 0.6632 could shift the short-term bias back toward the downside.

Bullish Scenario

If the 100-hour moving average holds once again as support:

• Buyers will likely make another run at 0.6648–0.6654,

• And a clean break above this ceiling would signal renewed upside momentum, opening the path to new weekly highs.

Bottom Line

AUDUSD is caught in a tight, technically clean battleground. The RBA’s hawkish tilt provides fundamental support, but resistance overhead remains stubborn. Traders should expect the next directional breakout—either below 0.6632 or above 0.6654—to set the tone for the next leg of price action.

This article was written by Greg Michalowski at investinglive.com.