The Canadian Vanguard Stock Market Report At Market Close – Monday, December 23, 2024
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The Toronto Market
The TSX composite index advanced 149.50 points or 0.61% to close the market session at 24,748.98. The index looks like it is ready to push last week’s declines to distant memory.
The Market Breadth: We will need more sessions to confirm but things appear to be improving. Eight of the ten TSX’s major sectors gained today. That is a big departure from the past six sessions and especially last week. Energy was the top sector with 1.28% gain. Basic Materials follow with 0.65% gain. Durable Consumer Goods & Services was up 0.62%; Industrials was up 0.53% and Technology was up 0.52%. Financials was up 0.40% and Healthcare was up 0.04%. Discretionary Consumer Goods & Services (a good retail gauge) was down -0.06% and Telecommunications Services was down -0.89%.
Industry Groups: Computer Hardware was up 21.31%; Aluminum was up 4.55%; Electrical Components & Equipment was up 2.40%; Oil & Gas Exploration & Production was up 2.24% while Oil & Gas Drilling was up 2.17%.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were roughly three Advancers for every two Decliners or a more exact ratio of 1.55-to-1.0. In real numbers, there were 1,141 Advancers to 736 Decliners while 168 stocks remained Unchanged.
Today, the total volume of shares traded at the TSX was 373,314,012, or 50% less when compared to the volume of 734,980,853 shares traded on Friday. Today’s volume is more in the daily normal range. Friday’s volume was large because of activities relating to triple witching on Friday.
Today, there were 44 new 52-Week Highs and 38 new 52-Week Lows. By comparison, there were 35 new 52-Week Highs and 48 new 52-Week Lows on Friday.
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The US Markets
The Dow Jones Index gained 66.69 points or 0.16% to close at 42,906.95. The S&P 500 index advanced 43.22 points or 0.73%, to close at 5,9740.07. The Nasdaq Composite advanced 192.29 points or 0.98%, to close at 19,764.89. NASDAQ index was the top performer of the indexes today.
The Market Breadth: Technology, up 1.20%, was the top sector today. Eight of the eleven major sectors gained at the market session. Healthcare was up 1.13%; Energy was up 0.71%; Discretionary Consumer Goods & Services was up 0.33%; Financials was up 0.29%; Basic Materials gained 0.15%; Telecommunications Services gained 0.03% and Industrials was down -0.01%.
Industry Groups: Marine Port Services gained 7.85%; Semiconductors gained 3.71%; Marine Transportation gained 3.16%; Advertising / Marketing was up 2.78%; Semiconductor Equipment & Testing was up 2.60%.
Today’s Market Statistics: At the NYSE, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There was an Advancer for every Decliner or a precise a ratio of 1.05-to-1.0. In actual numbers, there were 2,143 Advancers to 2,027 Decliners with 347 Unchanged.
Today, there were 56 new 52-Week Highs and 210 new 52-Week Lows. By comparison, on Friday, there were 49 new 52-Week Highs and 238 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 953,851,905, or 76% less when compared to the volume of 3,920,999,381 traded on Friday. The volume is correct. Friday was a triple witching day hence the huge volume of shares traded on Friday.
On the NASDAQ, the Decliners outnumbered the Advancers. For every eleven Decliners there were ten Advancers or a precise ratio of 1.1-to-1.0. In actual numbers, 2,307 Decliners to 2,093 with 231 Unchanged.
Today, there were 79 new 52-Week Highs but 162 new 52-Week Lows. By comparison, on Friday there were 79 new 52-Week Highs but 264 new 52-Week Lows.
The total volume of shares traded at the NASDAQ today was 7,058,802,403, or 40% more when compared to the volume of 11,681,261,251 shares traded on Friday but Friday was a triple witching day volume was unusually high and as such not really truly reliable for day to day volume comparison.
Oil Price: U.S. crude oil price had a mild gain at the markets today. Oil price was at $69.53 a barrel up 0.42% as at the time of posting this report.
10 –year Treasury Yield: The US 10-year yield increased 6.5 basis points to 4.59% Monday. Readers are reminded that stocks will likely continue to face strong headwinds as long as the 10-year yield continues to climb.
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Stocks In The News/Stocks To Watch
Nvidia (NVDA) was up today. The stock was the top performer on the Dow. The stock was added to the Dow index a few weeks back. NVDA stock was up 3.69% or $4.97 to close at $139.67 with 176.1 shares changing hands today. Taiwan Semiconductor Manufacturing Co (TSM) was also a top performer today. TSM stock was up 5.15% or $10.15 to close at $207.36 with 1.3M shares traded.
Broadcom (AVGO) a likely strong competitor to NVDIA in the chips sector, going forward, was up 25% at the market session on December 13. The stock was down the last three sessions but was in consolidation. AVGO was up 5.52% or $12.15, closing at $232.35 today with 40M shares traded today. AVGO is a stock to keep an eye in the New Year.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Blended Growth Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
Li Autos (LI) has been up during each of the past three sessions. Tesla (TSLA) is also up today after last week’s severe declines.
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