The Canadian Vanguard Stock Market Report At Market Close – Monday, November 11, 2024
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The Toronto Market
The TSX composite was up 29.88 points or 0.12% to close the market at 24,789.28.
The Market Spread: Technology, up 2.39%, was the top performing sector – Shopify Inc. stock was a major contributor to that gain. Financials, up 0.79%, was next. Industrials was up 0.48%; Energy was up 0.47%; Utilities gained a paltry 0.04% and Durable Consumer Goods & Services, up 0.01%, barely avoided a decline today. Healthcare declined -2.05% and Basic Materials suffered a relatively heavy decline at -3.55%. Six of the ten major sectors gained today.
Industry Groups: Textiles & Leather Goods was up 5.56%; Beverages – Non Alcoholic was up 5.19%; IT Services & Consulting was up 2.95%; Medical Equipment, Supplies & Distribution was up 2.67%.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were roughly six Advancers for every five Decliners or a ratio of 1.16 to 1.0. In real numbers, there were 967 Advancers and 831 Decliners while 152 stocks remained Unchanged.
The total volume of shares traded at the TSX on Friday was 383,387,777 or 5% more when compared to the volume of 365,935,145 shares traded on Friday.
Today, there were 380 new 52-Week Highs and 30 new 52-Week Lows. By comparison, there were 310 new 52-Week Highs and 34 new 52-Week Lows on Friday.
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The US Markets
The Dow Jones Index advanced 304.14 points or 0.69% to close at 44,293.13. The S&P 500 index was up 5.81 points or 0.10%, to close at 6,001.35. The Nasdaq Composite was up a mere 11.99 points or 0.06%, to close the session at 19,298.76. Both the DOW Jones Index and S&P 500 are at new record levels today.
The Market Spread: Discretionary Consumer Goods & Services, up 1.41%, was the leading sector at the market today. Financials, up 1.29%, was next. Industrials gained 0.98%; Utilities gained 0.51%; Energy was up 0.47% and Telecommunications Services was up 0.38%. Technology was down -0.36% and Basic Materials declined -1.29%. Six of the major sectors gained at the US markets today.
Industry Groups: Auto & Truck Manufacturers was up 6.63% – GM stock has been “quietly” gaining the last few sessions while Tesla has been making big gains every session since the presidential elections results became clear last Wednesday morning. Rails & Roads – Passengers was up 4.19%; Heavy Electrical Equipment was up 3.54%; Retail – Computers & Electronics was up 3.50% and Advertising / Marketing gained 3.22%.
Today’s Market Statistics: At the NYSE, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were roughly thirteen Advancers for every ten Decliners or a ratio of 1.29-to-1.0. In actual numbers, there were 2,287 Advancers to 1,776 Decliners with 270 Unchanged.
On Friday, there were 808 new 52-Week Highs and 84 new 52-Week Lows. By comparison, on Friday there were 642 new 52-Week Highs and 90 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 1,011,396,040 or 10% less when compared to the total volume of 1,114,752,634 stocks traded on Friday.
On the NASDAQ, the Advancers outnumbered the Decliners. Roughly for every seven Advancers there were five Decliners or a ratio of 1.35 to 1.0. In actual numbers, 2,483 Advancers to 1,838 Decliners with 231 Unchanged.
Today, there were 584 new 52-Week Highs but 108 new 52-Week Lows. By comparison, on Friday there were 412 new 52-Week Highs but 120 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 8,322,224,099, or 11% more when compared to the total volume of 7,470,839,007 shares traded on Friday.
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Stocks In The News/Stocks To Watch
The Toronto Market
Shopify has been outperforming the market recently. The stock hit a new 52-week high, surpassing its previous peak of C$123.20, which the company achieved some months back. Shopify was up 3.4% or $4.12 to close the session at $125.37 with 3.5M shares changing hands today which was far above the daily average volume of 2.4M shares.
The US Markets
Today, the small-caps prevailed at the US markets. There seems to be a rotation to small caps. Some of the small-caps and mid-caps that we would suggest our readers keep an eye on are Shift4 Payments Inc. (FOUR), FTAI Aviation Inc (FTAI), Trade Desk Inc., (TTD) and CAVA Group Inc. (CAVA). CAVA may be a bit extended for now so one might wish to watch the stock for a short pullback before “getting on board.”
Yesterday, in this post we discussed Tesla Inc. (TSLA) continues to outperform. The stock has been on a roll since last week after the presidential election results. The stock looks likely to cross the $400 price mark at some point in the near term. Analysts are reporting October gains in Auto Demand. Used vehicle demand was up 5% from September and 6% year-over-year, while new car demand jumped 4% sequentially and 8% year-over-year.
General Motors (GM) is one of those stocks, being a big name in the automobile industry and having been around for years, that is easy to overlook. GM stock has been staying above the 25 and 50 days lines for about six weeks but the stock price is certainly not extended. It is worth keeping an eye on. Today, GM was up 3.74% or $2.08 to close at $57.66 with 11.2M shares traded.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Blended Growth Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
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