The Canadian Vanguard Stock Market Report At Market Close – Thursday, January 16, 2025

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The Toronto Market

The TSX composite index gained 56.90 points or 0.23% to close the market session at 24,846.20.

                                                                                                                                 

The Market Breadth:  Just like yesterday, eight of the ten major sectors gained today. Utilities, up 2.53%, was the top performing sector. Telecommunications Services, the bottom performer and was down -0.31% yesterday, gained 0.98% today; Durable Consumer Goods & Services gained 0.83%; Financials gained 0.63% and Technology was up 0.45%. Basic Materials declined -0.50% and Energy declined -0.78%.

Industry Groups:  Construction Materials was up 4.90%; Retail – Apparel & Accessories was up 3.87%; Auto & Truck Manufacturers was up 3.37%; Tires & Rubber Products gained 3.36%; and Electrical Components & Equipment was up 3.33%.

Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were two Advancers for every Decliner or a more exact ratio of 2.20-to-1.0. In real numbers, there were 1,321 Advancers to 603 Decliners while 143 stocks remained Unchanged.

Today, there were 91 new 52-Week Highs and 20 new 52-Week Lows. By comparison, there were 61 new 52-Week Highs and 17 new 52-Week Lows yesterday.

Today, the total volume of shares traded at the TSX was 340,280, 509, or about the same when compared to the volume of 337,757,214 shares traded yesterday.

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The US Markets

The Dow Jones Index declined -68.42 points or -0.16% to close at 43,153.13. The S&P 500 index gained -12.57 points or -0.21% to close at 5,937.57. The Nasdaq Composite was down -172.95 points or -0.89%, to close at 19,338.29.

The Market Breadth: Eight of the major sectors gained today.  Utilities, up 2.28%, was the top performing sector. Industrials gained 0.99%; Durable Consumer Goods & Services was up 0.70%; Financials was up 0.64% and Healthcare was up 0.42%. Energy was up 0.39%; and Basic Materials gained 0.31%. Discretionary Consumer Goods & Services and Technology were the bottom performers at -0.70% and -0.73% respectively.

Industry Groups:   Semiconductor Equipment & Testing was up 3.42% as Taiwan Semiconductor Manufacturing Co (TSM) reported earnings today and the stock was up 3.86%; Utilities – Multiline was up 2.61%; Utilities – Natural Gas was up 2.50%; Textiles & Leather goods gained 2.43% and REIT – Residential & Commercial gained 2.25%.

Today’s Market Statistics:  At the NYSE, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were nine Advancers for every five Decliners or an exact ratio of 1.8-to-1.0. In actual numbers, there were 2,651 Advancers to 1,468 Decliners with 313 Unchanged.

Today, there were 121 new 52-Week Highs and 40 new 52-Week Lows. By comparison, yesterday, there were 121 new 52-Week Highs and 40 new 52-Week Lows.

The total volume of stocks traded at the NYSE today was about 6% less when compared to the volume of stocks traded yesterday.

On the NASDAQ, the Advancers outnumbered the Decliners. There was one Advancer for every Decliner at the market session today or a more exact ratio of 1.07-to-1.0. In actual numbers, 2,272 Advancers to 2,114 Decliners with 257 Unchanged.

Today, there were 86 new 52-Week Highs and 118 new 52-Week Lows.  By comparison, yesterday there were 85 new 52-Week Highs and 98 new 52-Week Lows.

The total volume of shares traded at the NASDAQ today was down 2.4% when compared to the volume of shares traded yesterday.

Oil Price:    Oil price was down earlier in the day but was at $79.09 up 0.52% as at the time (11pm, Thursday) of this post.

10 –year Treasury Yield:  The 10-year Treasury yield fell four basis points today and is currently at 4.613%.

Market Roundup Report:   This market is currently rather temperamental and most unpredictable. The market is going through a period of volatility, up today down tomorrow.  NASDAQ, up 2.45% yesterday, closed above the 50 day line yesterday but today closed below the line. S&P 500 closed up 1.83%  yesterday. Today the index closed in the negative, down -0.21%.  This market cannot be trusted. The market outlook may likely start to rally soon especially if the 10-year yield continues to decline. However, given the current market’s mood, it may be prudent to exercise some patience for now and wait for a confirmed rally to emerge.  We do not recommend heavy purchases of stock for now. Day traders love volatile markets. Possibly, this market is currently for day traders only. We think regular retail investors should for now spend this period building or pruning their watchlists while keeping an eye on the market for when the outlook changes.

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Stocks In The News/Stocks To Watch

Yesterday, Tesla Inc. (TSLA) was up 8% yesterday but was  down -3.36% today.  Apple Inc. (APPL) was up 1.97% yesterday but closed down -4.04% today because of news of the company’s problems with iPhone sales in the Chinese market.

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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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