The Canadian Vanguard Stock Market Report At Market Close – Thursday, December 19, 2024
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The Toronto Market
The TSX composite continues to pile days of consecutive declines. Today marks the ninth consecutive market decline session. The index was down –143.06 points or -0.58% to close the market session at 24,413.94.
The Market Breadth: Durable Consumer Goods & Services was the only sector to end the day gaining. Nine of the ten major sectors ended the session declining. The market breadth was narrow and shallow. Utilities was down -0.28%; Discretionary Consumer Goods & Services (a good retail gauge) was down -0.29%; Financials was down -0.30%; Healthcare was down -0.47%; Energy was down -0.50%; Basic Materials was down -0.51% and Technology was down -1.52%. Telecommunications Services was down -1.32%.
Industry Groups: Office Equipment was up 2.40%; Leisure Products was up 1.76%; Beverages – Non–Alcoholic was up 1.75%; Containers & Packaging was up 1.56% and Retail – Drugs was up 1.38%.
Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were roughly three Decliners for every Advancer or a more exact ratio of 2.70-to-1.0. In real numbers, there were 1,389 Decliners to 515 Advancers while 146 stocks remained Unchanged.
The total volume of shares traded at the TSX today was 398,449,018, or 14% less when compared to the volume of 463,982,884 shares traded yesterday.
Today, there were 30 new 52-Week Highs and 82 new 52-Week Lows. By comparison, there were 103 new 52-Week Highs and 69 new 52-Week Lows yesterday. The bears remain in control but today’s market was far from yesterday’s market shellacking.
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The US Markets
The bulls came back to the market today more alive, put up some effort but only managed to end the session almost even with the bears. The markets closed mixed with single digit per cent gain or decline except for NASDAQ. The Dow Jones Index gained 15.37 points or 0.04% to close at 42,342.24. The S&P 500 index declined -5.08 points or -0.09%, to close at 5,867.08. The Nasdaq Composite was down -19.93 points or -0.10%, to close at 19,372.77. Yesterday was yesterday. Today’s session was a normal market session, quite a departure from the sell, sell and sell some more that dominated the market in the late afternoon yesterday.
The Market Spread: The markets remain in bear territory. Utilities and Technology were the only two sectors to gain at the markets today. Financials was down barely at -0.06%; Discretionary Consumer Goods & Services was down -0.07%; Industrials was down -0.20%; Telecommunications Services declined -0.51%; Energy was down -0.54% and Basic Materials declined -0.95%. Today, there were no major decliners and no major gainers. All the sector gains and declines came in between 1% and -1%.
Industry Groups: Airlines gained 2.33%; Reinsurance gained 1.31%; Retail – Catalog & Internet Order was up 1.17%; Beverages – Distillers & Wineries was up 1.16% and Insurance – Life & Health was up 1.04%.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) again outnumbered the gaining issues (Advancers). There were two Decliners for every Advancer or a precise a ratio of 2.18-to-1.0. In actual numbers, there were 2,908 Decliners to 1,332 Advancers with 299 Unchanged.
Today, there were 44 new 52-Week Highs and 351 new 52-Week Lows. By comparison, yesterday, there were 99 new 52-Week Highs and 285 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 896,341,378, or 47% less when compared to the volume of 1,691,664,111 traded on Friday.
On the NASDAQ, the Decliners outnumbered the Advancers. For every seven Decliners there were five Advancers or a precise ratio of 1.38-to-1.0. In actual numbers, 2,523 Decliners to 1,822 Advancers with 257 Unchanged. The market remains bearish though a little bit less bearish compared to yesterday. Today was worse than lopsidedly bearish.
Today, there were 52 new 52-Week Highs but 346 new 52-Week Lows. By comparison, yesterday there were 133 new 52-Week Highs but 342 new 52-Week Lows.
The total volume of shares traded at the NASDAQ today was 10,531,049,520, or 6% more when compared to the volume of 9,909,261,473 shares traded yesterday.
Oil Price: U.S. crude oil price fell on demand concerns. Oil price was at $69.06 a barrel down -0.45% as at the time of posting this report.
10 –year Treasury Yield: The US 10-year Treasury yield closed at 4.568%, up from Wednesday’s close of 4.49%. The five-year yield rose to 4.423% from 4.376%. Stocks will likely continue to face strong headwinds as long as the 10-year yield continues to climb.
Market Roundup Report: The bears are currently in control of the market. The rally prevailing until late last week should be assumed as no longer alive. It is time to trade with extreme caution only. It is time to focus 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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