The Canadian Vanguard Stock Market Report At Market Close – Monday, December 2, 2024
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The Toronto Market
Today, the TSX composite declined -57.67 points or -0.22% to close the market session at 25,590.33.
The Market Spread: Retail ruled the day at the TSX today. Only five of the ten sectors were up today. Discretionary Consumer Goods & Services, up 0.96%, and Durable Consumer Goods & Services, up 0.94%, were the top performers among the sectors. Telecommunications Services was up 0.52%; Utilities was up 0.38% and Financials was up a marginal 0.02%. Energy was down -0.35% and Technology was down -0.78%. Investors should be on the watch in case the market spins a surprise turnaround in the current trend. However, the rally continues to look strong and TSX index is in record territory.
Industry Groups: Computer Hardware was up 15.49%. Retail – Apparel & Accessories was up 4.88%; Media Diversified was up 3.02%; Leisure & Recreation was up 2.79% and Chemicals – Commodity was up 2.67%.
Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were roughly three Decliners for every two Advancers or a ratio of 1.41-to-1.0. In real numbers, there were 1,112 Decliners to 785 Advancers while 151 stocks remained Unchanged.
The total volume of shares traded at the TSX today was 428,710,385, 55% more when compared to the volume of 276,495,428 shares traded on Friday. The reader is reminded that Friday was a half-session day.
Today, there were 277 new 52-Week Highs and 12 new 52-Week Lows. By comparison, there were 291 new 52-Week Highs and 10 new 52-Week Lows on Friday.
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The US Markets
Today was a mixed market with NASDAQ the top gainer as the Dow Jones Index declined -128.65 points or -0.29% to close at 44,782.00 but the S&P 500 index gained 14.77 points or 0.24%, to close at 6,047.15. The Nasdaq Composite was up 185.78 points or 0.97%, to close at 19,403.95.
The Market Spread: Technology, up 1.22% and Discretionary Consumer Goods & Services, typically a good indication of Retail activities, up 0.92% today were the only two sectors to end today’s market session with gains. Every other sector ended the day in red. Durable Consumer Goods & Services, down a mere -0.07% was the best performer of the decliners and Utilities, down -1.76% was at the bottom of the sectors. Financials was down -0.84% while Energy was down -0.91%. The market might be about to start changing the current trend or temporarily put some stress on the current rally.
Industry Groups: Marine Port services was up a whopping 27.84%; Retail – Departmental Stores was up 5.87%; Semiconductor Equipment & Testing was up 4.11% and Apparel & Accessories was up 2.95%.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were five Decliners for every two Advancers or a precise ratio of 2.47-to-1.0. In actual numbers, there were 2,126 Decliners to 1,970 Advancers with 294 Unchanged.
Today, there were 406 new 52-Week Highs and 64 new 52-Week Lows. By comparison, on Friday, there were 386 new 52-Week Highs and 63 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 1,029,845,051 which is 30% more than the volume of 790,747,299 traded on Wednesday.
On the NASDAQ, the Advancers outnumbered the Decliners. For every eleven Advancers there were ten Decliners or a precise ratio of 1.13-to-1.0. In actual numbers, 2,332 Advancers to 2,060 Decliners with 228 Unchanged.
Today, there were 256 new 52-Week Highs but 94 new 52-Week Lows – a bit bearish. By comparison, on Friday there were 214 new 52-Week Highs but 49 new 52-Week Lows.
The total volume of shares traded at the NASDAQ today was 6,545,362,040, 58% more when compared to the volume of 4,147,385,514 shares traded on Friday. Friday, however, was a half session day because Thursday was Thanksgiving.
Oil Price: U.S. crude oil dipped to $68.20 a barrel at market close and was at $68.23 as at the time of posting this report.
10 –year Treasury Yield: The US 10-year Treasury yield closed at 4.194%, up from Friday’s close of 4.169%. The five-year yield rose to 4.093% from 4.048%.
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Stocks In The News/Stocks To Watch
The US Markets
The chips manufacturers dominated the market news today. First, the news about the Intel Corporation CEO leaving the post. Years ago, in 1978/80 time frame, Intel Corp (INTC) and Motorola were the chip manufacturers – the only names in town then. The Intel 8008 and Motorola 6800 chips ruled the 8 bit world, then the 16 bit and later 32 bit world. Somehow chip manufacturing was later outsourced to “cheaper labour” and that meant outside of the US. That decision gave birth to and fully energized Taiwan Semiconductor Manufacturing Co (TSM) years ago. The company today literally dominates the chips manufacturing industry. Even the decision by President Biden to bring chips manufacturing back to America may be a little too late. The required research work, and IP rights and ownership still reside in the US by fabless companies.
Today at the market, Taiwan Semiconductor Manufacturing Co (TSM) stock gained 5.27% or $9.74 to close at $194.40 with 16.6M shares changing hands.
Today at the markets, Intel Corp (INTC) was down -0.50% or -$0.12 to close at $23.93 with 150.5M shares changing hands.
The other prominent name in the industry, a British based company is Arm Holdings Plc (ARM). The company’s CPU and support chips dominate the smartphone industry. ARM stock was at today’s market, up 4.51% or $6.05 to close at $140.34 with a total volume of 5.5M shares traded.
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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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