The Canadian Vanguard Stock Market Report At Market Close – Thursday, December 5, 2024
.
Follow us for Data-Driven Analysis and Insights To Guide Your Trading and Smart Investing
.
The Toronto Market
Today, the TSX composite was up 38.86 points or 0.15% to close the market session at 25,680.04. The TSX gain today was a bit more convincing compared to being barely up, 5.05 points, yesterday.
The Canadian banks were big winners today except for TD Bank. TD stock literally crashed after the bank reported quarterly earnings which was poorly received, as a result of already documented poor banking ethics by the bank. TD Bank faces unprecedented fines, restrictions and other disciplinary actions from US banking regulators.
The Market Spread: Only five of the major ten sectors at the TSX advanced today. Durable Consumer Goods & Services, improving on its performance yesterday, was up 1.63%; Utilities was up 0.98%; Energy was up 0.38%; Financials was up 0.17% and Telecommunications Services was up a pittance at 0.03%. Technology was down a mere -0.01% and Basic Materials was down -0.14%.
Industry Groups: Beverages – Distillers & Wineries was up 5.85%; Airport Services was up 4.88%; Airlines was up 3.47%; Retail – Department Stores was up 2.31% and Auto & Truck Manufacturers was up 2.07%.
Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There was one Decliner for every Advancer or an exact ratio of 1.04-to-1.0. In real numbers, there were 934 Decliners to 898 Advancers while 200 stocks remained Unchanged.
The total volume of shares traded at the TSX today was 387,968,263, 6% less when compared to the volume of 411,750,884 shares traded yesterday.
Today, there were 308 new 52-Week Highs and 12 new 52-Week Lows. By comparison, there were 227 new 52-Week Highs and 6 new 52-Week Lows yesterday.
Market Roundup: The current rally remains in good shape and not threatened in any way.
.
The US Markets
The Dow Jones Index declined -248.33 points or -0.55% to close at 44,765.71. The S&P 500 index was down -11.38 points or -0.19%, to close at 6,075.11. The Nasdaq Composite was down 34.39 points or 0.17%, to close at 19,700.72.
The Dow closed above the 45,000 level for the first time yesterday but was today unable to hold on that level. Nasdaq was down after an impressive performance yesterday. Down by -0.17% can be considered as within the routine daily range and really nothing to be concerned about. Indexes very rarely stay constant from one session to another.
The Market Spread: The market breadth was better today with six of the major sectors gaining during the session. Durable Consumer Goods & Services was up 0.60%; Telecommunications Services was up 0.50% and Discretionary Consumer Goods & Services was up 0.49%. Energy was up 0.47%; Financials was up 0.31% and Utilities was up 0.31%. Technology, the top performer yesterday, was down -0.36% today. Basic Materials was down -0.92%.
Industry Groups: Beverages – Distillers & Wineries was up 5.85%; Airport Services was up 4.88%; Airlines was up 3.47%; Retail – Department Stores was up 2.31% and Auto & Truck Manufacturers was up 2.07%.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were five Decliners for every four Advancers or a precise ratio of 1.25-to-1.0 – an almost exact reversal of the spread at the market session yesterday. In actual numbers, there were 2,231 Decliners to 1,784 Advancers with 340 Unchanged.
Today, there were 378 new 52-Week Highs and 74 new 52-Week Lows. By comparison, yesterday, there were 375 new 52-Week Highs and 79 new 52-Week Lows.
On the NASDAQ, the Decliners outnumbered the Advancers. Roughly, for every five Decliners there were four Advancers or a precise ratio of 1.30-to-1.0. In actual numbers, 2,887 Decliners to 1,495 Advancers with 224 Unchanged.
Today, there were 261 new 52-Week Highs but 145 new 52-Week Lows – a bullish reversal today. By comparison, yesterday there were 332 new 52-Week Highs but 116 new 52-Week Lows.
Oil Price: Oil price dipped as OPEC+ extended supply cuts. Oil price was at $68.28 as at the time of this report.
10 –year Treasury Yield: U.S. Treasury yields rose with investors’ eyes on Friday’s job report. The 10-year yield was at 4.17% as at the time of this report.
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.
