The Canadian Vanguard Stock Market Report At Market Close – Wednesday, December 18, 2024 .

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The Toronto Market

The TSX composite declined today for the eight consecutive market session. The index was down -562.71 points or -2.24% to close the market session at 24,557.00. Interestingly, the TSX was the best performing index today of the major North American stock indexes that we track and report on.

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The Market Breadth:   All sectors declined on Wednesday as the market went deep down bearish. Telecommunications Services, the day’s best performing sector, was down -0.51%. Durable Consumer Goods & Services declined -0.64%; Energy was down -1.51%; Financials declined -1.95%; Discretionary Consumer Goods & Services declined -2.02%; Basic Materials was down -3.18% and Technology was down a massive -5.45%.

Industry Groups:  Entertainment Production was up 2.12%; Medical Equipment, Supplies & Distribution was up 1.07%; Retail – Drugs was up 0.92%; Personal Services was up 0.90% and Environmental Services was up 0.64%.

Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were nine Decliners for every two Advancers or a more exact ratio of 4.64-to-1.0. In real numbers, there were 1,640 Decliners to 353 Advancers while 145 stocks remained Unchanged.

The total volume of shares traded at the TSX today was 463,982,884, or 16% more when compared to the volume of 398,314,075 shares traded yesterday.

Today, there were 103 new 52-Week Highs and 69 new 52-Week Lows. By comparison, there were 179 new 52-Week Highs and 50 new 52-Week Lows yesterday. The bears completely overwhelmed the bulls at the market today.

The US Markets

Today was a red letter day at the markets. The Dow Jones Index declined a whopping -1,123.03 points or -2.58% to close at 42,326.87. The S&P 500 index declined -178.45 points or -2.95%, to close at 5,872.16. The Nasdaq Composite degraded a hefty -716.37 points or -3.56%, to close at 19,392.69. Today was a portfolio trashing day at the markets.

The Market Spread:  The word today at the markets was “bearish”. Every sector declined. Telecommunications Services declined -1.48%; Discretionary Consumer Goods & Services was down -1.75%; Energy was down -2.68%; Industrials was down -2.71% technology was down -3.20%; and  Basic Materials declined -3.42%; Financials declined -3.59% and Discretionary Consumer Goods & Services declined -4.19%.

Industry Groups:  Marine port services was up 5.70%; Managed Health Care was up 2.85% and Retail – Drugs was up 0.73%. All the other industry groups declined: Household Products and Wireless Telecommunications Services declined -0.64% and -1.09% respectively to name just two. The markets today were totally negative.

Today’s Market Statistics:  At the NYSE, the declined issues (Decliners) again completely outnumbered the gaining issues (Advancers). There were nine Decliners for every Advancer or a precise a ratio of 9.48-to-1.0. In actual numbers, there were 3,877 Decliners to 409 Advancers with 295 Unchanged.

Today, there were 99 new 52-Week Highs and 285 new 52-Week Lows. By comparison, yesterday, there were 224 new 52-Week Highs and 180 new 52-Week Lows.

The total volume of stocks traded at the NYSE today was 1,691,664,111, or 64% higher when compared to the volume of 1,026,664,448 traded on Friday.

On the NASDAQ, the Decliners totally outnumbered the Advancers. For every six Decliners there was one Advancer or a precise ratio of 5.81-to-1.0. In actual numbers, 3,799 Decliners to 653 Advancers with 158 Unchanged. Today was worse than lopsidedly bearish.

Today, there were 133 new 52-Week Highs but 342 new 52-Week Lows.  By comparison, yesterday there were 216 new 52-Week Highs but 241 new 52-Week Lows.

The total volume of shares traded at the NASDAQ today was 9,909,261,473, or 56% larger when compared to the volume of 6,343,322,126 shares traded yesterday.

Oil Price:    U.S. crude oil settled up at $70.19 a barrel as at the time of posting this report.

10 –year Treasury Yield:  The US 10-year Treasury yield closed up at 4.52% after the Fed’s interest rate news, up from Tuesday’s close of 4.383%. The five-year yield closed at 4.376%. The 10-year yield was at 4.526% as at the time (11pm EST) of this post update.

Market Roundup Report:  The bears were everywhere at the markets today putting the markets in a very bearish mode. The indexes are back at figures below the record levels – creating growth room for new players and even previous high flyers. Dow was down for the tenth consecutive market session – such a long decline streak has not happened since 1974. The index was up earlier in the day but investors’ disappointment over expectations on Fed rate cuts crashed the markets in the late afternoon. In the meantime it is a good idea to trade with a lot of caution until the market is back in an uptrend mode.

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Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

 Blended Growth Stocks Watchlist  

EV, Energy and Resource Stocks Watchlist 

Li Autos (LI), an EV manufacturer, was up two consecutive market sessions. In the past, the stock has not been a consistent performer, however, we shall keep an eye on the stock for our readers.

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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