The Canadian Vanguard Stock Market Report At Market Close – Thursday, January 30, 2025
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The Toronto Market
The TSX composite index vaulted 334.95 points or 1.31% to close the market session at 25,808.25. The TSX is on a roll. The current rally is now on high octane. On January 31, 2024 the TSX closed at 21,022. That was 4,786 points ago.
The Market Breadth: Nine of the major sectors of the TSX advanced at the market session today. Discretionary Consumer Goods & Services was the only sector which declined today but even then, the decline was only a mere -0.26%. Basic Materials, up 3.12%, was the top performer again, repeating yesterday’s performance and even better. Technology gained 2.19%; Financials gained 0.77%; Energy gained 0.75%; Healthcare was up 0.74%; Telecommunications Services was up 0.69%; and Discretionary Consumer Goods & Services was up 0.53%. Durable Consumer Goods & Services, down -0.26%, was the only sector to decline.
Industry Groups: The top five industry groups today were: Computer Hardware which was up 16.62%; Electrical Components & Equipment, up 13.16%; Precious Metals & Minerals, up 4.15%; Home Furnishing, up 3.61% and Chemicals – Commodity, up 3.51%.
Today’s Statistics: Today, the issues which gained (Advancers) outnumbered the issues which declined (Decliners). There were four Advancers for every Decliner or a more exact ratio of 4.21-to-1.0. In real numbers, there were 1,614 Advancers to 383 Decliners while 112 stocks remained Unchanged. The bears were largely no-show today and the few that showed up got shellacked.
Today, there were 330 new 52-Week Highs and 15 new 52-Week Lows. By comparison, there were 190 new 52-Week Highs and 27 new 52-Week Lows yesterday. The TSX rally has developed wings and is now on an upswing mode, ready to vault over the 26,000 level.
The total volume of shares traded today at the TSX was 365,696,285 or 15% more than the volume of 317,951,904 traded yesterday.
Market Roundup: The TSX rally has gained more strength. The current rally is truly now on high octane. The bulls were on a rampage. The TSX index advance today was buoyed by increased volume of shares traded. It is time to be fully invested in the market. There are a large number of stocks which are within their buy zone.
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The US Markets
The major indexes gained today. The Dow Jones Index gained 168.61 or 0.38%, to close at 44,882.13. The S&P 500 index gained 31.86 points or 0.53% to close at 6,071.17. The Nasdaq Composite was up 49.43 points or 0.25%, to close at 19,681.75.
The Market Breadth: Nine of the eleven major sectors of the US markets were up today. Utilities, up 2.52%, was the top performing sector today. The power generation companies did well. They were down on Monday because of the DeepSeek’s implementation and the consequence on AI supporting data centers, but the most of the power generation companies have now almost recovered most of Monday’s losses. Basic Materials was up 1.43%; Healthcare was up 1.29%; Industrials was up 1.19% and Durable Consumer Goods & Services was up 1.06%. Energy was up 0.91%; Financials was up 0.84%; Technology was up 0.51% and Telecommunications Services, down -1.01% was the only sector to decline. Enterprise Software companies were the major contributors to Technology’s 0.51% gain today. Hardware and Chips manufacturers either declined or had minor gains today.
Industry Groups: Precious Metals & Minerals was up 3.96%; Semiconductor Equipment & Testing was up 3.74%; Environmental Services was up 3.40%; casinos & Gaming was up 3.35% and Homebuilding, up 2.96%, comprised the five top industries today.
Today’s Market Statistics: At the NYSE, the number of issues which gained (Advancers) was greater than the number of issues which declined (Decliners). There were four Advancers for every Decliner or an exact ratio of 4.10-to-1.0. In actual numbers, there were 3,310 Advancers to 807 Decliners with 271 Unchanged. That was a lopsidedly bullish market session. The bears were literally wiped out or possibly went to lunch and never returned.
Today, there were 254 new 52-Week Highs and 52 new 52-Week Lows. By comparison, yesterday, there were 151 new 52-Week Highs and 68 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 4,701,038,904 or 11% more than the volume of 4,217,459,232 shares traded yesterday.
On the NASDAQ, the Advancers outnumbered the Decliners. There were two Advancers for every Decliner or an exact ratio of 2.0-to-1.0. In actual numbers, 2,938 Advancers to 1,470 Decliners with 218 Unchanged.
Today, there were 161 new 52-Week Highs and 113 new 52-Week Lows. By comparison, yesterday there were 97 new 52-Week Highs and 122 new 52-Week Lows.
The total volume of shares traded at the NASDAQ today was 6,863,035,772, or about the same as the volume of 6,818,816,134 shares traded yesterday.
Oil Price: Oil prices ticked lower earlier in the day. The US Oil price stood at $73.32 as of the time of this update (11:30pm, EST) Thursday night.
10 –year Treasury Yield: The 10-year Treasury yield edged lower to 4.52% early Thursday but rose slightly to 4.53% by market close.
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Stock in the News /Stock To Watch
The Toronto Market
The gold miners are currently doing well in the Toronto market. Agnico Eagle Mines (TSX:AEM) was up 5.19% or $6.75 to close at $136.73 with 1M shares traded. The stock is getting close being extended but it is worth keeping an eye on or new investors may wish to purchase after a short pull back at low volume.
The Technology sector was up a good percentage today. Shopify carries a good weight within the TSX. Shopify Inc. (TSX:SHOP) has recently been showing signs of coming alive again. The stock is worth keeping an eye on. SHOP stock was up 2.433% or $4.10 to close at $172.56 today with 2M shares traded.
The US Markets
The power generating companies, especially the fairly diversified ones, have nearly recovered the losses suffered on Monday when the market declined heavily. The data centers will still steady power even if following DeepSeek’s approach to AI implementation, they would need less than previously anticipated huge amount of power. A good amount of power, steady and reliably supplied will still be needed, however. Two power generation companies to possibly add to your watchlist are:
(i) Constellation Energy Corporation (CEG). Today, the stock today gained 5.71% or $16.66 to close at $308.55 with 6M shares traded.
(ii) The other company is Vistra Corp (VST). The stock was up 13.59% or $21.09 to close at $176.30 with 18M shares traded today.
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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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