The Canadian Vanguard Stock Market Report At Market Close – Tuesday, January 14, 2025
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The Toronto Market
The TSX composite index gained 52.26 points or 0.21% to close the market session at 24,588.58.
The Market Breadth: The TSX was up today but the market sentiment remains uncertain. Only four of the ten major sectors gained today. Basic Materials was up 1.26%; Discretionary Consumer Goods & Services was up 0.44%; Financials was up 0.25%; and Energy was up 0.20%. Healthcare was down -0.08%; Industrials sector was down -0.11%; and Technology was down -0.24%; Telecommunications Services, down -2.10%, was the bottom performer today.
Industry Groups: Aluminum was up a huge 47.83%; Computer Hardware was up 32.73%; and Media Diversified was up a more moderate 3.81%. Air Freight & Courier Services was up 2.86% and Retail – Apparel & Accessories was up 2.76%. Typically when an industry group goes up by huge gains such as thirty percent or higher in one day, that group tends to comprise a small number of companies and typically mainly penny stocks or really small caps stocks.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were six Advancers for every five Decliners or a more exact ratio of 1.17-to-1.0. In real numbers, there were 1,015 Advancers to 864 Decliners while 160 stocks remained Unchanged.
Today, there were 42 new 52-Week Highs and 55 new 52-Week Lows. By comparison, there were 47 new 52-Week Highs and 60 new 52-Week Lows yesterday.
Today, the total volume of shares traded at the TSX was 334,725,492, or 10% less when compared to the volume of 370,122,846 shares traded yesterday.
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The US Markets
The major US market indexes closed mixed again today. NASDAQ declined for the fifth consecutive session and was the only one of the three major indexes to decline today. The Dow Jones Index advanced 221.16 points or 0.52% to close at 42,518.28. The S&P 500 index gained 6.69 points or 0.16% to close at 5,842.91. The Nasdaq Composite was down -43.71 points or -0.23%, to close at 19,044.39.
The Market Breadth: Utilities, up 1.42%, was the top gainer among the sectors today. Seven of the sectors gained and were largely decent gains. Industrials was up 1.39% and Financials gained 1.37%. Basic Materials gained 1.24% and Energy gained 1.07%. Telecommunications Services gained 0.48% and Durable Consumer Goods & Services was up 0.22%. Technology declined a marginal -0.05%. Typically, Utilities is the often the top performing sector when investors are looking for safety. This happens when the market is sort of looking for direction. Investors tend to rush to Utilities when things are less certain or periods of considerable volatility at the markets. The Technology sector has also been down the last four sessions. NVIDIA and chips manufacturing companies dominate the Technology sector so as long as chips related company continue the current down trend, the Technology sector will likely continue to underperform.
Industry Groups: Marine Port Services gained vaulted up 14.24% today. Engineering & Construction was up a more modest 3.36%. Construction – Supplies & Fixtures gained 3.31%; Homebuilding was up 3.27% and Airport Services was up 2.57%. Toll Brothers Inc. was up 3.77% today. The homebuilder company stock is down from a high of $167.80 recorded on November 25. The stock has been in consolidation for about three weeks. Generally Homebuilding company stocks tend to go up more when the interest rates are going down and homeowners’ mortgage payments tend to be lower. The market will always do whatever it wishes to do including spinning exceptions.
Today’s Market Statistics: At the NYSE, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were three Advancers for every Decliner or an exact ratio of 3.2-to-1.0. In actual numbers, there were 2,118 Advancers to 662 Decliners with 65 Unchanged – a positive market session.
Today, there were 42 new 52-Week Highs and 65 new 52-Week Lows. By comparison, yesterday, there were 31 new 52-Week Highs and 342 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 6% less when compared to the volume of stocks traded yesterday.
On the NASDAQ, the Advancers outnumbered the Decliners. There were seven Advancers for every five Decliners at the market session today or a more exact ratio of 1.4-to-1.0. In actual numbers, 2,579 Advancers to 1,826 Decliners with 236 Unchanged. Today was the exact reverse of yesterday’s ratio of Decliners to Advancers. The NASDAQ composite declined today but there were indications the NASDAQ was leaning towards a bullish sentiment as compared to the last four sessions. The inflation report tomorrow may serve as the trigger required to kick the index further into positive sentiment or back into the bearish mode.
Today, there were 61 new 52-Week Highs and 175 new 52-Week Lows. By comparison, yesterday there were 44 new 52-Week Highs and 349 new 52-Week Lows.
The total volume of shares traded at the NASDAQ today was 9% less when compared to the volume of shares traded yesterday.
Market Roundup Report: The stock market performance improved today but volatility remains and volume was down even though Dow Jones was up. S&P 500 was up a paltry 6.69 points. This remains the time to trade with extreme caution. The indexes’ charts are damaged and need time for repair. The focus should be on preserving capital.
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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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