The Canadian Vanguard Stock Market Report At Market Close – Wednesday, November 27, 2024
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The Toronto Market
Today, the TSX composite was up 83.16 points or 0.33% to close the market session at 25,488.30.
The Market Spread: The market was broad-based. Only Basic Materials, among the major sectors of the TSX, was down today and even then the sector was down a mere -0.07%. The flight to safety by investors continued today as Telecommunications Services, up 0.93% was the top performing sector, followed by Durable Consumer Goods & Services, up 0.90% and Utilities which was up 0.79%. Financials gained 0.52%; Technology was up 0.46% and Energy was up 0.42%.
Industry Groups: Consumer Electronics was up again today – up 14.29%. Computer Hardware was up 12.41%; Publishing was up 7.92%; Semiconductors was up 4.71% and Auto & Truck Manufacturers was up 4.45%.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were roughly three Advancers for every two Decliners or a ratio of 1.44-to-1.0. In real numbers, there were 1,105 Advancers to 765 Decliners while 160 stocks remained Unchanged.
Today, the total volume of shares traded at the TSX was 329,951,493, 47% less when compared to the volume of 625,384,441 shares traded yesterday.
Today, there were 188 new 52-Week Highs and 8 new 52-Week Lows. By comparison, there were 288 new 52-Week Highs and 6 new 52-Week Lows yesterday.
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The US Markets
==> U.S. markets will be shut on Thursday for Thanksgiving and will close early on Friday. <==
Today, all three indexes were down. The Dow Jones Index declined -138.25 points or -0.31% to close at 44,722.06. The S&P 500 index declined -22.89 points or -0.38%, to close at 5,998.74. The Nasdaq Composite was down -115.10 points or -0.60%, to close at 19,060.48. The markets welcome Thanksgiving with all indexes down day. The indexes were, however, at or almost at record highs prior to today.
The Market Spread: Seven of the major sectors were up today but two of the sectors were only marginally up. It was a session of very modest gains. Basic Materials was up a paltry 0.02% and Utilities was up 0.01%. Healthcare, the top sector today, was up a mere 0.59%. Telecommunications Services was up 0.39%; Durable Consumer Goods & Services was up 0.16%; Financials was up 0.12% and Energy was up 0.11%. Technology was down -0.89%. It is time to watch out for possible change in the current trend.
Industry Groups: Tires & Rubber Products was up 5.05%; Consumer Electronics was up 1.99%; Heavy Electrical Equipment was up 1.53%; Rails & Roads – Passengers was up 1.42% and Investment Trusts was up 1.24%.
Today’s Market Statistics: At the NYSE, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were three Advancers for every two Decliners or a precise ratio of 1.64-to-1.0. In actual numbers, there were 2,478 Advancers to 1,514 Decliners with 338 Unchanged. There was a reversal today after just one session of decliners outnumbering the advancers.
Today, there were 406 new 52-Week Highs and 53 new 52-Week Lows. By comparison, yesterday, there were 358 new 52-Week Highs and 52 new 52-Week Lows.
The total volume of stocks traded at the NYSE on Friday was 879,899,021 which is 9% less than the volume of 963,289,249 traded yesterday.
On the NASDAQ, the Advancers outnumbered the Decliners. Roughly, for every six Advancers there were five Decliners or a precise ratio of 1.26-to-1.0. In actual numbers, 2,430 Decliners to 1,927 Advancers with 225 Unchanged.
Today, there were 206 new 52-Week Highs but 85 new 52-Week Lows. By comparison, yesterday there were 189 new 52-Week Highs but 99 new 52-Week Lows.
Today, the total volume of shares traded at the NASDAQ was 5,793,997,176, 13% less when compared to the volume of 6,671,502,894 shares traded yesterday.
Oil Price: Oil price edged lower. Oil price was at $68.45 as at the time of this post.
10 –year Treasury Yield: Today, Benchmark Treasury yields fell, with the 10-year Treasury yield closing at 4.244%. It settled Tuesday around 4.3%.
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Stocks In The News/Stocks To Watch
The US Markets
Nvidia Corp (NVDA) was all over the news today. The stock has been a Tech bellwether but it may be taking a break especially with Trump brandishing tariffs and other trade restriction aimed against China. Nvidia and other chip manufacturers – Arm Holdings (ARM) and Taiwan Semiconductor Manufacturing (TSM), may be taking a break from the uptrend in the near term. NVDA stock was down 1.15% or -$1.58 to close at $135.34 with 226M shares traded today.
DELL Technologies (DELL) and Crowdstrike Holdings (CRWD) were down today after earnings reports that obviously did not please Wall Street. CrowdStrike is certainly not out of the woods yet after the security breach, a couple of months ago, which negatively impacted the company’s operations and a number of its customers. CRWD stock was down 4.59% or -$16.71 to close the session at $347.59 with 10.8M shares changing hands today.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Financials had a good session today – the best in several sessions. Is this the beginning of a new uptrend for the Canadian big six? We shall be on the lookout and keep our readers informed.
Blended Growth Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
Tesla Inc. (TSLA) was down today but the Chinese EV manufacturers – US market listings, ADRs, were up today with Li Auto up 6.70%. These EV stocks remain a “very long term” investment. There is also the danger from the US administrations on tariffs and other trade barriers. EV stocks are as such increasingly looking like investments for really brave souls. We shall, however, continue to feature EVs as the market will do whatever it decides to do. Things may change as EVs are likely the future of automobiles down the road.
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