The Canadian Vanguard Stock Market Report At Market Close – Wednesday, January 8, 2025
.
Follow us for Data-Driven Analysis and Insights To Guide Your Trading and Smart Investing
.
The Toronto Market
The TSX composite index ended two consecutive sessions of decline to advance 121.79 points or 0.49% to close the market session at 25,051.68.
The Market Breadth: There were gainers than decliners at the market today but the market has less spread. Only four of the ten major sectors gained. Technology, up 1.50% dominated the sectors today. Basic Materials was up 1.12%; Energy was up 0.53% and Financials gained 0.38%. Telecommunications Services, was down -1.01%; and Healthcare was the bottom performer today declining -1.18%. – Celestica Inc. (TSX:CLS) up 4.58% was prominent in contributing to the Technology sector’s gain today.
Industry Groups: Consumer Electronics was up 4.73%; Electrical Components & Equipment was up 4.38%; Software was up 2.57%; Environment Services was up 2.38%; and Semiconductors was up 2.30%.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were eleven Advancers for every ten Decliners or a more exact ratio of 1.13-to-1.0. In real numbers, there were 1,000 Advancers to 885 Decliners while 160 stocks remained Unchanged.
Today, there were 87 new 52-Week Highs and 25 new 52-Week Lows. By comparison, there were 72 new 52-Week Highs and 26 new 52-Week Lows on yesterday. The Toronto market reversed today and the gaining issues prevailed.
Today, the total volume of shares traded at the TSX was 370,025,496, or 6% more when compared to the volume of 347,953,845 shares traded yesterday.
.
US Markets are closed on Thursday, January 9 as part of the memorial to celebrate the life of former President Jimmy Carter. Markets reopen on Friday, January 10.
The US Markets
The Dow Jones Index was up 106.84 points or 0.25% to close at 42,635.20. The S&P 500 index gained 9.22 points or 0.16%, to close at 5,918.25. The Nasdaq Composite was down -10.80 points or -0.06%, to close at 19,478.88. The Nasdaq was again the worst performer of the three indexes and the only to finish the day in red.
The Market Breadth: Six of the major sectors gained today. This market is certainly not in any rally mode. The sectors’ gains and declines amounts are indicative of a constrained market. The amplitude of the gains and declines were constrained. The market is waiting for something to trigger it in a definitive direction. Basic Materials, up 0.50%, led the sectors. Healthcare was up 0.49%; Durable Consumer Goods & Services was up 0.46%; Industrials was up 0.26%; Telecommunications Services was up 0.12%; and Financials was up 0.11%. Technology was down -0.14% – down but an improvement on yesterday.
Industry Groups: Precious Metals & Minerals gained 1.95%; Managed Healthcare was up 1.45%; Environmental Services gained 1.37%; Mining & Metals – Specialty was up 1.33% and Home Building 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 an exact ratio of 1.22-to-1.0. In actual numbers, there were 2,279 Decliners to 1,871 Advancers with 344 Unchanged.
Today, there were 34 new 52-Week Highs and 173 new 52-Week Lows – quite bearish. By comparison, yesterday, there were 68 new 52-Week Highs and 107 new 52-Week Lows. The market remained bearish.
The total volume of stocks traded at the NYSE today was 1,113,760,605, or 7% less when compared to the volume of 1,199,120,403 traded yesterday.
On the NASDAQ, the Decliners outnumbered the Advancers. There were two Decliners for every Advancer during the market session or a more exact ratio of 1.92-to-1.0. In actual numbers, 2,913 Decliners to 1,515 Advancers with 223 Unchanged.
Today, there were 59 new 52-Week Highs and 145 new 52-Week Lows – really bearish. By comparison, yesterday there were 95 new 52-Week Highs and 86 new 52-Week Lows.
The total volume of shares traded at the NASDAQ today was 9,136,872,021, or 12% less when compared to the volume of 10,396,974,146 shares traded yesterday. The volume yesterday resulted from concentrated effort by investors selling lower priced stocks – the low end of the small caps.
Oil Price: US crude oil price was down slightly to close at 73.46 a barrel. The price is of course constantly changing throughout the day.
10 –year Treasury Yield: The 10-year Treasury yield was down -0.024% to close at 4.67%.
.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The TSX was up today and some of the big banks participated gained with BMO up 1.79% today.
Blended Growth Stocks Watchlist
We shall keep an eye on Agnico Eagle Mines (TSX:AEM). The stock has traced a rough double bottom pattern with a buy point at $123.86.
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.
SUBSCRIPTION Offer: We thank you for following our Stock Market reports but please be aware that we shall soon be restricting these articles to subscribers only.
We do not send this publication by email to readers. If you receive a copy by email please simply forward the email to us.
Our reports are composed by humans after proper analysis and detailed research. It is neither AI nor machine generated.
