Indices Hunt for Support After Steep Weekly Losses as Volatility Gauge Stays Elevated

VANCOUVER, BC, Nov. 9, 2026 /CNW/ -- Stock Preachers News Commentary - Wall Street opens a new week nursing bruises from a rough stretch that sent every major index lower, with the Nasdaq Composite off 3.37% and the S&P 500 down 2.68% from the prior week's reference close. The CBOE Volatility Index settled at 23.5, still up 2.35 points on the week even after easing 2.14 points on the day, as traders weigh whether recent lows mark a floor or just a pause before further declines. Active Companies from around the markets with current developments this week include: Enbridge Inc. (TSX: ENB), Amgen (Nasdaq: AMGN), Thomson Reuters (TSX: TRI), Sun Life Financial Inc. (TSX: SLF), and Eli Lilly and Company (NYSE: LLY) (NYSE: HIMS).

All four major benchmarks closed the week in the red. The Dow Jones Industrial Average fell 0.94% to 51,285.73, the S&P 500 dropped 2.68% to 7,376.86, the Nasdaq Composite lost 3.37% to 24,579.43, and the Russell 2000 slid 2.05% to 2,754.11. The Nasdaq's week high of 26,048.83 contrasts sharply with its week low of 24,262.14, underscoring the swings traders navigated.

The S&P 500 carries a 14-day RSI of 35.1 and the Nasdaq sits at 33.9, both pointing toward oversold territory, while the Dow's RSI of 43.2 and the Russell's 43.0 suggest somewhat less stress. Key support for the S&P 500 sits at 7,333.68, just below Friday's close, with the 200-day simple moving average at 7,313.92 as a deeper backstop. The Nasdaq's nearest support is 24,491.83.

In commodities, gold climbed 3.70% on the week to $4,116.60 per ounce and silver gained 3.86% to $52.68, while WTI crude tumbled 8.48% to $88.28 per barrel. Natural gas rose 5.36% to $3.01 per MMBtu. The US 10-year Treasury yield eased 7 basis points on the week to 4.86%, even as it ticked up 2 basis points on the latest session.

The full report maps out the complete levels ladder for each index, tracks the Nasdaq-100 volatility gauge, and previews what traders are watching in the week ahead.

CONTINUED... Read this and more news for Enbridge Inc. (TSX: ENB), Amgen (Nasdaq: AMGN), Thomson Reuters (TSX: TRI), Sun Life Financial Inc. (TSX: SLF), and Eli Lilly and Company (NYSE: LLY) (NYSE: HIMS) at: https://stockpreachers.com/articles/markets-lick-their-wounds-and-look-for-a-ledge-to-stand-on/

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

Enbridge Inc. (TSX: ENB) Enbridge reported third quarter GAAP earnings attributable to common shareholders of $1.3 billion, or $0.59 per common share, compared with $0.7 billion, or $0.30 per common share, in 2025. Adjusted earnings were $1.1 billion, or $0.49 per common share, versus $1.0 billion, or $0.46 per common share, a year earlier, with adjusted EBITDA of $4.4 billion compared to $4.3 billion in 2025.

The company reaffirmed its 2026 full year financial guidance and medium-term outlook, and placed over $3 billion of gas transmission projects into service during the quarter, including the Aspen Point expansion of B.C. Pipeline and the Tennessee Ridgeline project.

Enbridge also announced the US$2.6 billion acquisition of Tallgrass Energy LP's crude oil business and closed the US$0.6 billion acquisition of Salt Creek Midstream's crude oil gathering business. President and CEO Greg Ebel said, "Our secured growth backlog stands at $38 billion, even as we placed $3 billion of completed projects into service this quarter." Read the release.

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

GAAP earnings per share 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, compared with $4.2 billion a year earlier.

Chairman and CEO Robert A. Bradway said, "Amgen delivered another strong quarter as our strategy for long-term growth continued to produce results across the enterprise." Among products, UPLIZNA sales increased 191% year-over-year to $451 million, while Prolia sales decreased 45% to $632 million amid biosimilar competition. Read the release.

Thomson Reuters (TSX: TRI) Thomson Reuters reported third quarter total company revenues up 10%, with organic revenues also up 10% in total and 10% for its Big 3 segments. Adjusted EBITDA rose 10% to $651 million, though adjusted EBITDA margin dipped to 35.5% from 35.8% a year earlier.

The company closed the sale of a 51% stake in its Global Print business to capital accounts advised by KKR for gross proceeds of approximately $500 million on October 1, 2026, and updated its full-year 2026 outlook to exclude that business, now expecting total revenue growth of approximately 9.5%.

Diluted EPS decreased to $0.78 from $0.94, while adjusted EPS increased to $0.81 from $0.71. President and CEO Steve Hasker said, "We are pleased with our third-quarter momentum, as revenue growth and margins came in ahead of our prior expectations." Read the release.

Sun Life Financial Inc. (TSX: SLF) Sun Life reported underlying net income of $1,146 million, up $99 million or 9% from the third quarter of 2025, with underlying EPS of $2.05, up 10%. Reported net income of $785 million decreased $321 million or 29% from a year earlier, and reported EPS of $1.40 fell 29%.

Underlying ROE was 19.0% compared with 18.3% a year earlier, while reported ROE was 13.0% versus 19.3%. Assets under management reached $1,676 billion, up $53 billion or 3% from the third quarter of 2025, and the company increased its common share dividend from $0.96 to $1.00 per share.

President and CEO Kevin Strain said, "Sunlife delivered a solid third quarter, with growth across Canada, Asia, U.S. stop loss, and GreenOak. Our diversified global strategy delivered robust continued momentum in insurance and wealth led by Canada and Asia, and new sources of growth in asset management." Read the release.

Eli Lilly and Company (NYSE: LLY) (NYSE: HIMS) Eli Lilly and Hims & Hers Health announced an agreement to expand access to Zepbound and Foundayo through the Hims & Hers platform. Eligible patients receiving a prescription from a licensed provider will be able to access self-pay prices starting at $149 per month for Foundayo and $299 per month for Zepbound without leaving the platform.

Ilya Yuffa, Executive Vice President and President of Lilly USA and Global Customer Capabilities, said, "Millions of people turn to Hims & Hers for their care, and through this agreement, those patients now have a simple, more direct way to get FDA-approved Lilly medicine at an affordable price if prescribed."

As part of the agreement, both companies committed to protecting independent clinical decision-making so providers continue to prescribe what they determine is right for each patient. The companies also noted Hims & Hers has never offered compounded copies of Lilly's GLP-1 medicines and has committed not to do so in the future. Read the release.

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