The Canadian Vanguard Stock Market Report At Market Close – Thursday, December 12, 2024

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.   The Toronto Market

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The TSX composite declined today. The index was down -246.99 points or 0.96% to close the market session at 25,410.71. The TSX was the worst performer of the major North American stock indexes that we report on.

                                                                                                                         

The Market Spread:   Today was a red letter day. All indicators relating to the market were red. Durable Consumer Goods & Services, up 0.76% was the only sector to end the session without declining. Industrials was down -0.13%; Discretionary Consumer Goods & Services was down -0.33%; Financials was down -0.60%; Utilities was down -0.72% and Technology declined -0.97%. Energy was down -1.43% and Basic Materials was down -2.41%.

Industry Groups:  Aluminum was up 10.00%; Entertainment Production was up 2.20%; Hotels, Motels & Cruise Lines was up 1.97%. Media Diversified was up 1.58% and Chemicals – Specialty was up 1.57%. Typically, when an industry like Aluminum shows up in the list of top industries at a market session, it means that the session was really negative and the bears dominated.

Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were two Decliners for every Advancer or a more precise ratio of 2.12-to-1.0. In real numbers, there were 1,278 Decliners to 602 Advancers while 156 stocks remained Unchanged.

The total volume of shares traded at the TSX today was 367,213,599, or 3% lower when compared to the volume of 379,302,242 shares traded yesterday.

Today, there were 121 new 52-Week Highs and 29 new 52-Week Lows. By comparison, there were 201 new 52-Week Highs and 24 new 52-Week Lows yesterday. The market today was definitely bearish.

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The US Markets

The Dow Jones Index declined -234.44 points or -0.53% to close at 43,914.12. The S&P 500 index declined -32.94 points or 0.54%, to close at 6,051.25. The Nasdaq Composite was down -132.05 points or -0.66%, to close at 19,902.84.

The Market Spread: Durable Consumer Goods & Services up 0.18% was the only one of the eleven major sectors in the US markets to gain today. It was a really negative market session.  Utilities was down -0.52%; Technology was down -0.55%; Financials was down -0.59%;  Industrials was down -0.63%; Energy was down -0.87% and Basic Materials was down -1.34%.

Industry Groups: Textiles & Leather Goods was up 2.45%; Broadcasting was up 1.60%; Beverages – Non-Alcoholic was up 1.53%; Beverages – Distillers & Wineries was up 1.52% and Consumer Electronics was up 0.92%.

Today’s Market Statistics:  At the NYSE, the declined issues (Decliners) completely outnumbered the gaining issues (Advancers). There were three Decliners for every Advancer or a precise a ratio of 3.1-to-1.0. In actual numbers, there were 3,082 Decliners to 994 Advancers with 293 Unchanged.

Today, there were 116 new 52-Week Highs and 93 new 52-Week Lows. By comparison, yesterday, there were 236 new 52-Week Highs and 79 new 52-Week Lows.

The total volume of stocks traded at the NYSE today was 1,229,988,537, or 35% higher when compared to the volume of 906,657,927 traded on Wednesday.

On the NASDAQ, the Decliners totally outnumbered the Advancers. Roughly, for every eight Advancers there were five Decliners or a precise ratio of 2.64-to-1.0. In actual numbers, 3,177 Decliners to 1,200 Advancers with 244 Unchanged.

Today, there were 123 new 52-Week Highs but 172 new 52-Week Lows.  By comparison, yesterday there were 211 new 52-Week Highs but 140 new 52-Week Lows. The market today was firmly bearish. The bearish trend which was kind of lurking around yesterday, confirmed today that it meant business.

The total volume of shares traded at the NASDAQ today was 6,763,657,807, or 2% less when compared to the volume of 6,908,188,497 shares traded on Wednesday.

Oil Price:    U.S. crude oil price was down 0.4% to $70.02 a barrel at market close. Oil price was at $70.31, up 0.43% as at the time of this report

10 –year Treasury Yield:  The 10-year Treasury yield rose five basis points to 4.32%, up 17 basis points so far this week. It is not good for stocks when the 10-year yield is above 4% and is increasing.

Market Roundup Report:  On Wednesday, the bears were around but were largely “being mischievous”. Today they bared their teeth. The markets turned bearish. All the indexes were down – in red. The small caps suffered even deeper declines compared to the big caps. There was volume increase to back the decline. Investors were selling.  The rally certainly took a break today. One day is not enough to call a trend but it is enough to serve as a reminder to investors that it is possibly time for caution – time to be less adventurous with trades.

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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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