The Canadian Vanguard Stock Market Report At Market Close – Thursday, November 14, 2024
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The Toronto Market
The TSX composite was up 60.65 points or 0.24% to close the market at 25,049.67. Today, the TSX essentially repeated yesterday’s performance but with one major difference – the gaining stocks outnumbered the declined stocks. Yesterday, the declined stocks edged out the gaining stocks. The trend reversal was kind of around the corner for a couple of market sessions but took a big step today. A market trend reversal is likely taking place.
The Market Spread: Only four of the ten major sectors ended the session with gains today. Energy, up 2.33%, was the top performing sector. Utilities gained 0.94%; Basic Materials gained 0.85% and Financials was up 0.49%. Industrials was down -0.38%; Healthcare was down -0.60% and Telecommunications Services declined -0.96%. Technology, down -3.71%, was the top performing sector yesterday but was the bottom performing sector today.
Industry Groups: Aluminum gained 13.64%; Casinos & Gaming was up 7.62%; Tires & Rubber Products was up 6.98% and Oil & Gas Exploration & Production was up 2.95%.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were seven Advancers for every five Decliners or a ratio of 1.4-to-1.0. In real numbers, there were 1,097 Advancers and 793 Decliners while 169 stocks remained Unchanged.
Today, the total volume of shares traded at the TSX on Friday was 409,893,381 or roughly about the same when compared to the volume of 408,642,253 shares traded yesterday.
Today, there were 192 new 52-Week Highs and 36 new 52-Week Lows. By comparison, there were 224 new 52-Week Highs and 47 new 52-Week Lows yesterday.
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The US Markets
All three major indexes declined today with NASDAQ and S&P 500 home to most of the session’s down stocks. The Dow Jones Index declined -207.33 points or -0.47% to close at 43,750.86. The S&P 500 index was down -36.21 points or -0.61%, to close at 5,949.17. The Nasdaq Composite was down -123.07 points or -0.64%, to close the session at 19,107.65.
The Market Spread: The US markets were quite negative today. Breadth remains constrained as only one – Energy up 0.62%, of the major sectors, advanced today. Financials was down -0.17%; Technology was down -0.29% and Durable Goods & Services was down -0.32%. Basic Materials was down -0.39%; Industrials was down -1.28% and Healthcare was down -1.66%.
Industry Groups: Retail – Departmental Stores was 2.85%; Airport Services was up 2.53%; Rails & Roads – Passengers was up 2.44%; Broadcasting was up 2.17% and Retail – Computers & Electronics was up 1.81%. Retail industry appears to be doing well in the current economy going by the industry groups that are performing well at the stock markets.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were nine Decliners for every five Advancers or a precise ratio of 1.8-to-1.0. In actual numbers, there were 2,610 Decliners to 1,454 Advancers with 305 Unchanged.
Today, there were 177 new 52-Week Highs and 90 new 52-Week Lows. By comparison, yesterday there were 371 new 52-Week Highs and 113 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 990,396,958 or 3% less, when compared to the total volume of 1,019,180,825 stocks traded yesterday.
On the NASDAQ, the Decliners outnumbered the Advancers. Roughly, for every two Decliners there was an Advancer or a precise ratio of 2.2-to-1.0. In actual numbers, 2,979 Decliners to 1,354 Advancers with 244 Unchanged.
Today, there were 116 new 52-Week Highs but 206 new 52-Week Lows. By comparison, yesterday there were 276 new 52-Week Highs but 187 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 10,047,802,294, or just about the same when compared to the total volume of 10,046,443,057 shares traded yesterday.
Oil Price: Crude oil rose earlier in the day but declined a bit later in the session to close with a 0.3% gain at $68.63 a barrel.
10 –year Treasury Yield: The 10-year Treasury yield rose a few basis points to 4.45%.
Market Roundup Report: The regular market rally is showing signs of age while it is also likely that the Trump rally may be over. Most of the gainers during that rally have lost a good portion of their gains. Even Tesla stock has declined significantly today. The small caps suffered big declines today. The market rally may be slowing down or just taking a break but either way it may be time to always wear the “Caution Hat” during trades.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Blended Growth Stocks Watchlist
Cava stock was down -6.08% today. That is just 1% shy of (7 or 8% decline) SELL trigger point. We shall keep CAVA in this watchlist. CAVA stock has done very well since going IPO. We think there is still more good performance to come from the stock. The stock price was extended before earnings report a couple of days ago so some correction was not unexpected. The market will do whatever it wishes to do. We shall keep an eye on CAVA in the near term to see if today’s 6% decline is just a one market session mishap.
EV, Energy and Resource Stocks Watchlist
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