The Canadian Vanguard Stock Market Report At Market Close – Thursday, November 28, 2024
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The Toronto Market
Today, the TSX composite was up 55.22 points or 0.22% to close the market session at 25,543.52.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were five Advancers for every two Decliners or a ratio of 2.51-to-1.0. In real numbers, there were 1,202 Advancers to 479 Decliners while 177 stocks remained Unchanged.
Today, the total volume of shares traded at the TSX was 143,072,878, 62% less when compared to the volume of 329,951,493 shares traded yesterday. The US markets closed today for the Thanksgiving holiday and that surely affected the volume of trading at the TSX today.
Today, there were 226 new 52-Week Highs and 7 new 52-Week Lows. By comparison, there were 188 new 52-Week Highs and 8 new 52-Week Lows yesterday.
The US Markets
The U.S. markets closed on Thursday for Thanksgiving and will close early, at 1pm on Friday.
Stocks In The News/Stocks To Watch
The Toronto Market
A top performing stock at the TSX today was ATS Corp (TSX:ATS), up 3.52% or $1.53 to close the session at $45.05 with 242.4K shares traded. Celestica Inc. (TSX:CLS) was up 1.86% or $2.17 to close at $118.87 with 209K shares changing hands today. Celestica has been a consistent performer this year and looks set to continue. AI processing needs massive computing power from properly structured and configured IT infrastructure which is the business realm in which Celestica Inc. excels.
Cameco Corporation (TSX:CCO) is a stock to keep an eye on. The company provides nuclear fuel processing services and other items for nuclear reactors. It provides uranium fuel to nuclear powered electricity generating stations around the world. The world is moving slowly but steadily towards clean energy. In reality, clean energy means more nuclear power generated electricity. Nuclear is, for now, the most practical technology available to generate huge amounts of electricity reliably. The data centers that will house the infrastructure ensuring the availability of massive computing power that will be needed, when AI has become part of everybody’s daily life, will continuously require huge amounts of reliable electricity. Microsoft Corporation, for example, recently signed a partnership agreement with Constellation Energy Corporation (CEG) as part of the planning for reliable electricity supply to its future data centers. Some recent reports mentioned that Russia halted the supply of enriched uranium to fuel US reactors as tensions rise between the superpowers. Developing countries will also need nuclear power too. Cameco is surely a stock to keep an eye on especially by investors but possibly not by day traders.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The TSX closed well off today’s Highs and that is reflected in the Beginner’s Watchlist – a list comprising of literally minimum risk stocks. The idea behind the list is to protect the beginner from major loss until he or she has learnt beyond the basics. A big bank is not only very unlikely to decline 7% in one day but every quarter pays some dividend.
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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