The Canadian Vanguard Stock Market Report At Market Close – Tuesday, December 3, 2024
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The Toronto Market
Today, the TSX composite advanced 45.40 points or 0.18% to close the market session at 25,635.73. The index appears ready to remain in record territory. Investors only need to watch out for stocks with price extended.
The Market Spread: Six of the ten sectors were up today. Basic Materials advanced 2.23%. Durable Consumer Goods & Services was up 1.28%; Discretionary Consumer Goods & Services was up 0.52%; Telecommunications Services was up 0.50%; Healthcare was up 0.45% and Energy was up 0.40%. Utilities was up 0.38% and Financials was up a marginal 0.02%. Energy was down -0.35% and Technology, down -1.12%, Financials, down -1.08%, and Utilities, down -0.25%, round up the list of declined sectors today. The retail sectors continue to do well. Scotia Bank delivered its earnings report and the stock price went down – that added to the poor performance of the Financials sector.
Industry Groups: Computer Hardware was up 5.28%; Electrical Components & Equipment was up 4.79%; Medical Equipment, Supplies & Distribution was up 2.82%; Media Diversified was up 2.81%; Precious Metals & Minerals was up 2.73%.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were three Advancers for every two Decliners or an exact ratio of 1.49-to-1.0. In real numbers, there were 1,101 Advancers to 760 Decliners while 182 stocks remained Unchanged.
The total volume of shares traded at the TSX today was 429,484,858, practically the same when compared to the volume of 428,710,385 shares traded yesterday.
Today, there were 227 new 52-Week Highs and 6 new 52-Week Lows. By comparison, there were 277 new 52-Week Highs and 12 new 52-Week Lows yesterday.
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The US Markets
The Dow Jones Index declined -76.47 points or -0.17% to close at 44,705.53 but the S&P 500 index eked out a 2.73 points or 0.05% gain, to close at 6,049.88. The Nasdaq Composite was up 76.96 points or 0.40%, to close at 19,480.91.
The Market Spread: The market breadth was average today as only five of the major sectors ended the session with gains. Telecommunications Services was up 0.99%; Technology was up 0.66%; Energy was up 0.25%; Discretionary Consumer Goods & Services was up 0.13% and Basic Materials was up 0.04%. Utilities, down -0.88% was at the bottom of the sectors. Industrials was a little better with -0.62%.
Industry Groups: Precious Metals & Minerals was up 2.81% – in line with Basic Materials being the top sector today. Consumer Electronics was up 2.23% and Retail – Department Stores was up 2.12%. Wireless Telecommunications Services was up 1.39% and Airport Services was up 1.32%.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were six Decliners for every five Advancers or a precise ratio of 1.24-to-1.0. In actual numbers, there were 2,244 Decliners to 1,808 Advancers with 317 Unchanged.
Today, there were 310 new 52-Week Highs and 50 new 52-Week Lows. By comparison, yesterday, there were 406 new 52-Week Highs and 64 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 960,339,432 which is 7% less than the volume of 1,029,845,051 traded on Wednesday.
On the NASDAQ, the Decliners outnumbered the Advancers. For every five Decliners there were three Advancers or a precise ratio of 1.66-to-1.0. In actual numbers, 2,732 Decliners to 1,647 Advancers with 242 Unchanged.
Today, there were 243 new 52-Week Highs but 98 new 52-Week Lows – a bit bearish. By comparison, yesterday there were 256 new 52-Week Highs but 94 new 52-Week Lows.
The total volume of shares traded at the NASDAQ today was 6,221,640,683, 5% less when compared to the volume of 6,545,362,040 shares traded yesterday.
Oil Price: U.S. crude oil price was largely steady today. Oil price was at $70.17 a barrel as at the time of posting this report.
10 –year Treasury Yield: The US 10-year Treasury yield closed at 4.22%, up from Monday’s close of 4.19%. The five-year yield rose to 4.106%.
Market Roundup Report: The market rally remains strong with indexes in record territories. Dow Jones and Russel 2000 were down slightly today which is good in a way as nothing goes up forever. It is time to be fully invested but be ready to rotate in to new areas while also looking out for possible rotation by the big players who in reality drive the market. Our readers are also reminded to take some profit from time to time before the paper profit evaporates.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian big six banks are reporting earnings this week. Scotia Bank reported on Tuesday but the stock price declined after. The remaining banks are due to report on Wednesday and Thursday.
Blended Growth Stocks Watchlist
The Canadian Vanguard Blended Growth Watchlist is specially put together and updated from time to time to ensure the list remains a top winner. The list is not for day traders, although if that is all you do, who is there to stop you? The list is put together to support swing traders and regular investors who are willing to hold for a couple of months or longer but regularly keep an eye on the market and react quickly to market trends up or down and of course follow the most important rule for successful investing. The reader is reminded that, “There are only two rules for successful investing: First rule is to always minimize losses and the Second rule is to always obey the first rule”. The statement is original to Mr. Warren Buffet.
Meta Platforms (META) based on today’s performance, is a stock to keep an eye on – may be ready for an upswing. Check our post this past weekend. https://www.blackcanadianmedia.ca/the-canadian-vanguard-stock-market-report-november-29-december-124-2024-weekend/
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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