The Canadian Vanguard Stock Market Report At Market Close – Thursday, November 21, 2024

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The Toronto Market

The TSX composite vaulted 354.22 points or 1.41% to close the market at 25,390.68.

                                                                                                               

The Market Spread: Eight of the ten major sectors gained today, as such the positive market session was quite broad based.  The gains were pretty decent also. Technology was up 2.17%; Energy was up 1.74%; Industrials was up 1.69% and Basic Materials was up 1.52%. Utilities gained 0.97% and Financials was up 0.87%. Healthcare and Telecommunications Services, down -0.32% and -0.82% respectively were the only two sectors which declined today.

Industry Groups:  Electrical Components & Equipment gained 4.62%; Computer Hardware was up 4.52%; Highways & Railtracks was up 4.00%; Paper Products was up 3.84% and Auto / Truck / Motorcycle Parts was up 2.85% to round up the top five industries at the markets today.

Today’s Statistics: Today, the gaining issues (Advancers) totally outnumbered the declined issues (Decliners). There were nine Advancers for every five Decliners or a ratio of 1.86-to-1.0, quite bullish. In real numbers, there were 1,230 to Advancers 661 Decliners and 148 stocks remained Unchanged.

Today, the total volume of shares traded at the TSX was 355,763,823, 3% less when compared to the volume of 367,603,748 shares traded yesterday.

Today, there were 221 new 52-Week Highs and 29 new 52-Week Lows. By comparison, there were 117 new 52-Week Highs and 23 new 52-Week Lows yesterday.

The US Markets

The Dow Jones Index was clearly the top performing index in a positive market session today. The index advanced 461.88 points or 1.06% to close at 43,870.35. The S&P 500 index gained 31.60 points or 0.53%, to close at 5,948.71. The Nasdaq Composite moved up almost 200 points from session’s low, earlier in the session to close, a mere 6.78 points or 0.03%, at 18,972.42.

The Market Spread: Today was a positive market session indeed. All the major sectors of the market recorded gains today. Utilities, up 1.49%, was the top performer and Technology, up 0.23%, was the bottom performer. The gains were quite decent amounts also. Industrials was up 1.24%; Financials was up 1.23%; Energy was up 1.08%; Basic Materials was up 0.96% and  Durable Consumer Goods & Services was up 0.87%. Today, the market had a rising tide that lifted all boats.

Industry Groups:  Construction & Agricultural Machinery, up 3.86%, Computer Hardware, up 3.68%, Coal, up 3.65%, Rails & Roads – Passengers, up 3.46% and Appliances, Tools & Housewares, up 3.42% were the top performing industries at the markets today.

Today’s Market Statistics:  At the NYSE, the gaining issues (Advancers) totally outnumbered the declined issues (Decliners). There were three Advancers for every Decliner or a precise ratio of 3.17-to-1.0. In actual numbers, there were 3,099 Advancers to 978 Decliners with 303 Unchanged.

Today, there were 380 new 52-Week Highs and 88 new 52-Week Lows. By comparison, yesterday there were 184 new 52-Week Highs and 94 new 52-Week Lows. The total volume of stocks traded at the NYSE today was 703,289,004 which is below recent daily average.

On the NASDAQ, the Advancers outnumbered the Decliners. Roughly, for every two Advancers there was one Decliner or a precise ratio of 2.0-to-1.0. In actual numbers, 2,909 Advancers to 1,458 Decliners with 232 Unchanged.

Today, there were 215 new 52-Week Highs but 159 new 52-Week Lows. By comparison, yesterday there were 120 new 52-Week Highs but 180 new 52-Week Lows. The total volume of stocks traded at the NASDAQ today was 7,713,718,478.

Oil Price:    Oil price rose today as supply risks heightened as the war in Ukraine intensifies. Oil price was at $70.51 up 0.60% as at the time of this post.

10 –year Treasury Yield:  The US 10-year Treasury yield edged higher to close at 4.418%.

Market Roundup Report:  The market today was all round positive. It was a rising tide that lifts all boats. It is time to watch out for stocks with extended price and avoid the risk of sudden pullbacks. Two bitcoin related stocks, MicroStrategy Inc. (MSTR) and Coinbase Inc. (COIN) suffered heavy losses today. MSTR stock closed at $227.08 on November 5, the day before the Trump Rally started. Yesterday, November 20, MSTR stock closed at $473.83, more than doubled in about two weeks. Today it crashed 16%, closing at $397.28 – when it is too good to be true, it is too good to be true. Investors who took profit earlier this week get to keep the windfall. It is always a good idea to take some profit at 20% to 25% gain.

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Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

The Royal Bank (TSX:RY) stock has been in consolidation for about a month, it may now be ready for another leg up.

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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