The Canadian Vanguard Stock Market Report At Market Close – Thursday, January 23, 2025

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The Toronto Market

The TSX composite index was up 122.58 points or 0.48% to close the market session at 25,434.08. The TSX has been climbing for eight consecutive sessions in measured steps and the index is more entrenched above the 25,000 level.

                                                                                                                     

The Market Breadth:   All ten major sectors ended the market session with gains today. Durable Consumer Goods & Services, up 1.43%, was the lead sector. The market was broad-based positive. Discretionary Consumer Goods & Services gained 1.16%; Industrials gained 0.91%; Financials gained 0.50%; Technology was up 0.25%; and Basic Materials gained 0.23%; Telecommunications Services was up 0.20%; and Energy was up 0.03%.

Industry Groups:  Technology industry which dominated yesterday was missing today. Textiles & Leather Goods was up 12.50%; Retail – Departmental Stores was up 4.22%; Aluminum was up 3.45%; Consumer Financial Services gained 3.14% and Auto & Truck Manufacturers was up 3.13%.

Today’s Statistics:  Today, the issues that gained (Advancers) outnumbered the issues that declined (Decliners). There were three Advancers for every two Decliners or a more exact ratio of 1.51-to-1.0.  In real numbers, there were 1,129 Advancers to 745 Decliners while 172 stocks remained Unchanged.

Today, there were 168 new 52-Week Highs and 21 new 52-Week Lows. By comparison, there were 202 new 52-Week Highs and 12 new 52-Week Lows yesterday.

The total volume of shares traded today at the TSX was 329,458,881, or 3% more when compared to the volume of 319,534,874 shares traded yesterday.

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The US Markets

The Dow Jones Index was up 408.34 points or 0.92% to close at 44,565.07. The S&P 500 index gained 32.34 points or 0.53% to close at 6,118.71. The Nasdaq Composite advanced 44.34 points or 0.22%, to close at 20,053.68. Dow was the top performer of the three major indexes. The three indexes have been on the uptrend since January 13 – eight sessions ago. Dow is again reaching closer to 45000, a level last touched briefly, on December 5.

The Market Breadth: All eleven major sectors of the markets gained today in a broad-based market session. Healthcare, up 1.24%, was the lead sector today. Technology which exclusively dominated yesterday was the bottom performer today with a 0.25% gain. Utilities gained 0.69%; Financials was up 0.59%; Durable Consumer Goods & Services was up 0.58%; Industrials was up 0.55%; Basic Materials was up 0.50%; Discretionary Consumer Goods & Services gained 0.48%; and Energy was up 0.41%.

Industry Groups:   The markets today were broad-based positive. Marine Port Services lead the industries with a 4.10% gain. Leisure & Recreation gained 3.02%; Highways & Railtracks was up 2.73%; Entertainment & Production gained 2.55%; and Chemicals – agricultural gained 2.41%.

Today’s Market Statistics:  At the NYSE, the number of issues that gained (Advancers) was greater than the number of issues that declined (Decliners). There were roughly three Advancers for every two Decliners or an exact ratio of 1.45-to-1.0. In actual numbers, there were 2,434 Advancers to 1,673 Decliners with 320 Unchanged.

Today, there were 255 new 52-Week Highs and 52 new 52-Week Lows. By comparison, yesterday, there were 271 new 52-Week Highs and 57 new 52-Week Lows.

The total volume of stocks traded at the NYSE today was 4,544,157,305 or 2.5% more when compared to the volume of shares traded yesterday.

On the NASDAQ, the Advancers outnumbered the Decliners. There were seven Advancers for every five Decliners or an exact ratio of 1.43-to-1.0. In actual numbers, 2,584 Advancers to 1,807 Decliners with 251 Unchanged.

Today, there were 132 new 52-Week Highs and 120 new 52-Week Lows.  By comparison, yesterday there were 190 new 52-Week Highs and 101 new 52-Week Lows.

The total volume of shares traded at the NASDAQ today was 7,459,495,756, which is just about the same when compared to the volume of shares traded yesterday.

Oil Price:  Oil price fell to $74.20 per barrel today but edged up and was at $74.53 at the time of today’s last update of this post which was 11 pm EST.

10 –year Treasury Yield:  The US 10-year Treasury yield closed at 4.635%, up from yesterday’s close of 4.599%. The five-year yield rose to 4.44% from yesterday’s 4.426%.

Market Roundup Report:   The market rally continues. The rally was broad-based today as all  eleven market sectors ended the session gaining. This is a reversal of yesterday’s market when Technology was the only sector to gain. Volume was up on the NYSE but down on the NASDAQ. We preferred a gap-up supported by a good volume increase to confirm the rally. This has not happened yet so we recommend that investors continue to be cautious with trades.

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Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

Dollarama Inc (DOL) traced a downtrend since early November but has gained steadily in the last five sessions. It may be time to buy DOL (buy Low to sell High) again and hold for while the HST holiday remains in place or beyond. Another stock worthy of a second look in this watchlist is the Canadian Pacific Kansas City Ltd (CP). The stock is worth keeping an eye on.  The stocks in our “Beginner Investors Watchlist” were selected on the basis that a beginner investor could buy them, make beginner mistakes, and not worry much about possible heavy, damaging losses. The stocks in this list are most unlikely to decline 5% or more, if ever, in any single market session. The market will, of course, always do whatever it wishes to do. It is as such important to always be mindful, be aware of how the index is currently performing – market outlook or sentiment, before making big stock purchases. Avoid purchases during a market correction.

Blended Growth Stocks Watchlist  

EV, Energy and Resource Stocks Watchlist 

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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