The Canadian Vanguard Stock Market Report At Market Close – Wednesday, November 13, 2024
.
Follow us for Data-Driven Analysis and Insights To Guide Your Trading and Smart Investing
.
The Toronto Market
The TSX composite was up 66.01 points or 0.26% to close the market at 24,989.02.
The Market Spread: Technology, up 3.57%, was the top performing sector. Energy gained 0.79% and Healthcare was up 0.53%. Seven of the ten major sectors of the TSX declined today. Industrials, Financials, Utilities, Discretionary Consumer Goods & Services, and Telecommunications Services declined. Basic Materials and Durable Consumer Goods & Services were the bottom performers, declining -1.43% and -1.65% respectively.
Industry Groups: There were big gainers amongst the industry groups today: Computer Hardware gained 18.68% and Textiles & Leather Goods was up 15.79%. IT Services & Consulting was up 4.90%; Semiconductors was up 4.08% and Industrial Machinery & Equipment was up 3.34%.
Today’s Statistics: Today, the declined issues (Decliners) edged out the gaining issues (Advancers). There was one Decliner for every Advancer or a ratio of 1.02 to 1.0. In real numbers, there were 953 Decliners and 933 Advancers while 169 stocks remained Unchanged.
The total volume of shares traded at the TSX on Friday was 408,642,253 or 7% less when compared to the volume of 439,744,946 shares traded yesterday.
Today, there were 224 new 52-Week Highs and 47 new 52-Week Lows. By comparison, there were 184 new 52-Week Highs and 38 new 52-Week Lows yesterday.
.
The US Markets
The markets were mixed today with Dow Jones leading the other two major indexes. The Dow Jones Index gained 47.21 points or 0.11% to close at 43,958.19. The S&P 500 index was up but barely gaining 1.39 points or 0.02%, to close at 5,985.38. The Nasdaq Composite was down -50.68 points or -0.26%, to close the session at 19,230.73.
The Market Spread: The market breadth remains constrained and certainly not broad-based. The retail sectors continue to be more prominent. Telecommunications Services, up 0.81%, was the top sector today. Discretionary Goods & Services was up 0.74%; Energy was up 0.48%; Durable Goods & Services was up 0.14% and Industrials was up 0.08%. Utilities, Financials, Basic Materials and Healthcare declined. Technology, down -0.51%, was the worst preforming sector.
Industry Groups: Marine Port Services was up a portfolio friendly 10.24%. Rails & Roads – Passengers was up 5.49%; Retail – Catalog & Internet Order gained 2.43%; Commercial Printing Services was up 2.20% and Coal gained 2.11%.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were seven Decliners for every five Advancers or a precise ratio of 1.41-to-1.0. In actual numbers, there were 2,372 Decliners to 1,681 Advancers with 314 Unchanged.
Today, there were 371 new 52-Week Highs and 113 new 52-Week Lows. By comparison, yesterday there were 328 new 52-Week Highs and 101 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 1,019,180,825 or roughly the same, even, when compared to the total volume of 1,029,459,765 stocks traded yesterday.
On the NASDAQ, the Decliners outnumbered the Advancers. For every two Decliners there was an Advancer or a precise ratio of 1.94 to 1.0. In actual numbers, 2,839 Decliners to 1,459 Advancers with 266 Unchanged.
Today, there were 276 new 52-Week Highs but 187 new 52-Week Lows. By comparison, yesterday there were 258 new 52-Week Highs but 139 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 10,046,443,057, or 20% more when compared to the total volume of 8,323,595,352 shares traded yesterday.
Oil Price: U.S. crude oil price was down -0.77% at $67.95 a barrel as at the time (11pm EST) of this post.
10 –year Treasury Yield: The US 10-year Treasury yield closed at 4.449%, up from Tuesday’s close of 4.429%. The five-year yield dropped to 4.299% from 4.312%.
.
Stocks In The News/Stocks To Watch
The US Markets
The Chips manufacturing stocks were mostly down today. There is some concern within the industry about the $50 billion Chips and Science Act and how the in-coming administration might pursue or change it. The companies involved are all eager to see some of the money disbursed before the new US administration takes over power in January. There is concern that the new administration might not support doling such a big amount to the industry but there is some good news – Late Tuesday, an individual familiar with the current administration plans mentioned that the Commerce Dept. will award all of the Congressionally funded $39 billion before the end of the current administration.
Cava Group Inc (CAVA), the Mediterranean fast-casual restaurant chain, posted third-quarter earnings that beat Wall Street expectations. Revenue in the period rose by 39% from a year earlier to $241.5 million. The stock initially jumped by 3% but like most of the small caps today CAVA gave up most of the gains later in the market session. Cava stock price was also quite extended prior to the earnings report. The stock opened high and declined throughout the session. CAVA opened at $168.16, rose as high as $172.43, only to close at $147.30, up 1.57% or $2.27 with 13.1M shares traded.
.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian big banks are currently trading sideways, registering small gains and small declines at alternate market sessions. The stocks are probably waiting for some trigger event to push them into upward or downward direction.
Blended Growth Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
IMPORTANT NOTICE
Readers are reminded that the market’s performance at the following day’s market session may completely differ from the market performance at the overnight markets.
SUBSCRIPTION Offer: We thank you for following our Stock Market posts but please be aware that we shall soon be restricting these articles to subscribers only.
We do not send this publication by email to readers. If you receive a copy by email please simply forward the email to us.
Our reports are composed by humans after proper analysis and detailed research. It is neither AI nor machine generated. We do not, like AI, make things up.
