The Canadian Vanguard Stock Market Report At Market Close – Thursday, December 26, 2024
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The Toronto Market
The Toronto market was closed today for the Boxing Day holiday
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The US Markets
The markets closed mixed today. The Dow Jones Index gained 28.77 points or 0.07% to close at 43,325.80. The S&P 500 index was down a marginal -2.45 points or -0.04%, to close at 6,037.59. The Nasdaq Composite was also marginally down -10.77 points or -0.05%, to close at 20,020. The indexes remain in record territory.
The Market Breadth: Five of the eleven major sectors of the US markets gained today. Healthcare, Financials and Telecommunications gained 0.28%, 0.27% and 0.26% respectively to lead the sectors. Durable Consumer Goods & Services was up 0.08% while Discretionary Consumer Goods & Services was down -0.05% and Technology was down -0.06%. Energy was down -0.20% and Utilities was down -0.26%. Today, the biggest gain was 0.26% while the worst decline was -0.26%. That tells the market’s story for the session. There were no big gains and no major declines. It was a quiet session. One would not be wrong to suggest that during today’s session “Investors were probably largely in the holiday season’s spirit – small leisurely steps and no adventurous moves”.
Industry Groups: The session was dominated by the retail industries – probably that should not be a surprise since Christmas is the season for gifts giving. The top industry today was Retail – Computers & Electronics which was up 4.11%. Advertising / Marketing was up 3.05%; Retail- Department Stores was up 2.45%; Rails & Roads – Passengers was up 2.43% and Retail – Apparel & Accessories was up 2.13%.
Today’s Market Statistics: At the NYSE, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There was roughly two Advancers for every Decliner or an exact ratio of 1.82-to-1.0. In actual numbers, there were 2,598 Advancers to 1,426 Decliners with 358 Unchanged.
Today, there were 100 new 52-Week Highs and 114 new 52-Week Lows. By comparison, on Monday, there were 56 new 52-Week Highs and 210 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 601,411,764, or 37% less when compared to the volume of 953,851,905 traded on Monday. Tuesday was half (the markets closed at 1pm) market day.
On the NASDAQ, the Advancers outnumbered the Decliners. For every eleven Advancers there were five Decliners or a more exact ratio of 2.25-to-1.0. In actual numbers, 3,034 Advancers to 1,346 Decliners with 221 Unchanged.
Today, there were 92 new 52-Week Highs but 80 new 52-Week Lows. By comparison, on Monday there were 79 new 52-Week Highs but 162 new 52-Week Lows.
The total volume of shares traded at the NASDAQ today was 4,870,085,780, or 30% less when compared to the volume of 7,058,802,403 shares traded on Monday.
Oil Price: U.S. Oil price was largely unchanged today but will likely record a weekly gain this week. Oil price was at $69.62 a barrel as at the time of posting this report. China stimulus optimism and the expectation of more demand from China is the driver behind the gain.
10 –year Treasury Yield: The 10-year Treasury yield was down today at 4.57% but had traded as high as 4.64% during the market session. It is not good for stock market investing for the 10-yield to keep climbing especially when the yield is already higher than 4%. Investors can make comparable or better returns from investment vehicles far less risky when compared to the stock market.
Market Roundup Report: The small caps ruled the market today. The big technology stocks have consistently dominated the market but at least today, the small caps dominated the market. There was a rotation to small stocks but it is too early to call it a trend. There seems to be a mini “Santa Claus rally” struggling to show up but until we can “see and feel” the rally, this market should not be trusted. This market looks like it could spin a surprise, up or down, at any time.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Blended Growth Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
Tesla Inc. (TSLA) was down today but Tesla is a stock definitely worth keeping an eye on – should be on your watchlist. Also in the EV manufacturers group, Li Autos (LI) has been up six consecutive sessions as of today. It closed well off the day’s High but the stock still closed, up 3.60%.
IMPORTANT NOTICE
Readers are reminded that the market’s performance at the following day’s market session may completely differ from the market performance at the overnight markets.
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