Blue Chips Surge Past 2.8% as VIX Drops Below 18 While Oil Sinks Nearly 8%

VANCOUVER, BC, Nov. 4, 2026 /PRNewswire/ -- Stock Preachers News Commentary - Wall Street roared higher this week, with the Dow jumping 2.87% in a single session to a record 53,275.11 and the S&P 500 and Nasdaq both posting strong single-day gains above 1.7%. Volatility eased sharply, with the VIX falling nearly 4 points to 17.08, while commodities told a split story: gold and silver jumped more than 3% and 5% respectively, even as WTI crude tumbled 7.44% on the day. Earnings season added texture to the rally, with results ranging from double-digit growth to reserve charges and capital raises. Active Companies from around the markets with current developments this week include: Amgen (Nasdaq: AMGN), Thomson Reuters (TSX: TRI), Agnico Eagle Mines Limited (NYSE: AEM), Canadian Pacific Kansas City (TSX: CP), and Loews Corporation (NYSE: L).

The Dow's 2.87% day jumped it to 53,275.11, within striking distance of resistance at 53,289.30 and up 10.84% year to date. The S&P 500 gained 1.74% to 7,700.31, sitting just below its 50-day support at 7,693.20, while the Nasdaq Composite rose 1.89% to 25,851.70, hugging a cluster of resistance near 25,866.15. The Russell 2000 added 1.58% to 2,856.81, trading above its 50-day support at 2,848.61.

Volatility measures retreated across the board. The VIX fell 3.75 points on the day and 4.07 points on the week to 17.08, well off its weekly high of 21.91. The Nasdaq-100 volatility gauge (VXN) dropped 4.08 points to 26.45, still elevated relative to its weekly low of 26.17.

In commodities, gold climbed 3.38% on the day to $4,073.40 an ounce and silver jumped 5.16% to $52.15, though both remain down sharply year to date, off 6.17% and 25.65% respectively. WTI crude fell 7.44% on the day to $88.94 a barrel despite a 54.89% year-to-date gain, while the 10-year Treasury yield slipped 5 basis points to 4.90%.

The full report tracks key support and resistance levels across all four major indices, plus a closer look at which sectors are leading and lagging this earnings season.

CONTINUED... Read this and more news for Amgen (Nasdaq: AMGN), Thomson Reuters (TSX: TRI), Agnico Eagle Mines Limited (NYSE: AEM), Canadian Pacific Kansas City (TSX: CP), and Loews Corporation (NYSE: L) at: https://stockpreachers.com/articles/a-midweek-rally-sorts-the-winners-from-the-worriers/

In other industry developments and happenings in the market this week include:

Amgen (Nasdaq: AMGN) Amgen reported third-quarter total revenues up 8% to $10.4 billion compared to the third quarter of 2025, with product sales also growing 8% on volume. Seventeen products delivered at least double-digit sales growth, and seventeen products are now annualizing at more than $1 billion based on third-quarter sales.

GAAP EPS increased 19% to $7.08 from $5.93, while GAAP operating margin rose 9.9 percentage points to 37.5%. Non-GAAP EPS increased 14% to $6.45, and the company generated $3.7 billion of free cash flow in the quarter versus $4.2 billion a year earlier.

"Amgen delivered another strong quarter as our strategy for long-term growth continued to produce results across the enterprise," said Robert A. Bradway, chairman and chief executive officer. Among products, Repatha sales rose 37% to $1,085 million and UPLIZNA sales jumped 191% to $451 million, while Prolia sales fell 45% to $632 million amid biosimilar competition. Read the release.

Thomson Reuters (TSX: TRI) Thomson Reuters reported third-quarter total revenues up 10% to $1,833 million from $1,658 million, with organic revenues also up 10% in total and for its Big 3 segments. The company closed the sale of a 51% stake in its Global Print business to KKR-advised capital accounts for gross proceeds of approximately $500 million on October 1, 2026.

Operating profit decreased 22% to $402 million, largely due to a prior-year gain from the sale of a minority stake in Elite, while diluted EPS fell to $0.78 from $0.94. Adjusted EBITDA rose 10% to $651 million, though adjusted EBITDA margin dipped to 35.5% from 35.8%, and adjusted EPS increased to $0.81 from $0.71.

"We are pleased with our third-quarter momentum, as revenue growth and margins came in ahead of our prior expectations," said Steve Hasker, President and CEO of Thomson Reuters. The company also issued $1.3 billion and CDN $1.0 billion of notes for total proceeds of approximately $2.0 billion in September 2026. Read the release.

Agnico Eagle Mines Limited (NYSE: AEM) Agnico Eagle reported payable gold production of 814,012 ounces in the third quarter at all-in sustaining costs of $1,648 per ounce, with realized gold prices of $4,264 per ounce driving quarterly net income of $1,353 million, or $2.67 per share, and free cash flow of $852 million, or $1.68 per share.

The company increased its cash balance by $149 million to $3,613 million, resulting in a net cash position of $3,416 million against total debt of $197 million. It returned $478 million to shareholders in the quarter, including a $0.45 per share dividend and $250 million in share repurchases at an average price of $192.60.

"Our business continues to perform well, reflecting the consistent execution of our teams across the Company," said Ammar Al-Joundi, President and Chief Executive Officer. Full-year production is expected near the lower end of its 3.3 to 3.5 million ounce guidance range, with costs expected near the upper end of guidance. Read the release.

Canadian Pacific Kansas City (TSX: CP) CPKC reported third-quarter revenues of $4.2 billion, up 15% from $3.7 billion in the same period last year, with diluted EPS of $1.04 and core adjusted diluted EPS of $1.28, up 16% from $1.10. Volumes, measured in revenue ton-miles, increased 6% from the prior year.

Reported operating ratio increased 130 basis points to 64.8%, while core adjusted operating ratio rose 120 basis points to 61.9%, with higher fuel prices unfavorably impacting both metrics by 170 and 190 basis points respectively.

"CPKC delivered solid results, powered by momentum across our unrivalled North American network, countering macroeconomic headwinds during the quarter," said Keith Creel, CPKC President and Chief Executive Officer. Read the release.

Loews Corporation (NYSE: L) Loews Corporation reported third-quarter net income of $306 million, or $1.50 per share, down from $504 million, or $2.43 per share, a year earlier. CNA Financial's contribution fell to $180 million from $371 million, driven partly by a $125 million after-tax charge from annual long-term care reserve assumption updates.

Boardwalk Pipelines net income declined to $85 million from $94 million, including $14 million of after-tax charges tied to net unrealized losses and an office relocation impairment, while Loews Hotels net income rose on higher average daily rates and occupancy.

Book value per share fell to $90.24 from $90.71, though book value excluding AOCI rose to $100.67 from $95.89. The company repurchased 1.6 million shares during the quarter for a total cost of $167 million. Read the release.

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