The Canadian Vanguard Stock Market Report – November 15 – 17, 2024 Weekend
Your Data-Driven Stock Market Analysis And Report – The investor’s readiness guide for the week of November 18 market sessions.
(Updated regularly throughout the weekend)
.
The Toronto Market, Friday
The TSX composite declined -158.99 points or -0.63% to close the market at 24,890.68.
The Market Spread: The market was negative on Friday and the market breadth was quite constrained as only three sectors gained. The retail sector continued to dominate above other sectors at the TSX. Discretionary Consumer Goods & Services (read as a good Retail gauge or indicator) was up 0.35%; Durable Consumer Goods & Services was up 0.21% and Utilities was up 0.17%. The other sectors declined with Industrials, down -0.81% and Energy, down -1.10%, bringing up the rear. Telecommunications Services – the perennial poor performing sector within the TSX was down -0.12% at the market session on Friday.
For The Week: Technology advanced 13.19% while Basic Materials declined -5.26%. Healthcare was up 1.77%; Energy was up 1.61% and Financials was up 0.64%. Telecommunications Services declined -2.32%.
Industry Groups: On Friday, Consumer Electronics was up 6.74%; Aluminum was up 4%; Medical Equipment, Supplies & Distribution was up 2.41%. Construction Materials was up 2.40% and Electrical Components & Equipment was up 1.86%.
Today’s Statistics: Friday, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were seven Decliners for every five Advancers or a ratio of 1.4-to-1.0. In real numbers, there were 1,126 Decliners and 800 Advancers while 135 stocks remained Unchanged.
The total volume of shares traded at the TSX on Friday was 454,384,577 or roughly 11% more when compared to the volume of 409,893,381 shares traded on Thursday.
Friday, there were 96 new 52-Week Highs and 28 new 52-Week Lows. By comparison, there were 192 new 52-Week Highs and 36 new 52-Week Lows on Thursday.
.
The US Markets
All the three major indexes declined on Friday with NASDAQ suffering the worst decline of the three. The Dow Jones Index declined -305.87 points or -0.70% to close at 43,444.99. The S&P 500 index was down -78.55 points or -1.32%, to close at 5,870.62. The Nasdaq Composite was down -427.53 points or -2.24%, to close the session at 18,680.12. An index typically lists (is home to ) a good number of stocks, NASDAQ, for example, lists over 3,300 stocks so when the index is down worse than 2%, we had a really bearish market session.
The Market Spread: On Friday, only three of the major sectors ended the session with gains. Utilities led the gains with 1.19% gain; Telecommunications Services was up 0.43%; Financials was up 0.26%. Energy, Basic Materials and Industrials were down -0.31%, -0.55% and -0.59% respectively. There were two heavy decliners: Healthcare and Technology which were down -2.22% and -2.23% respectively.
For The Week: The spread was actually worse for the week as only two sectors, Financials, up 0.46% and Energy, up 0.40%, advanced for the week. There were three major decliners: Technology was down -2.79%; Basic Materials was down -4.18% and Healthcare was down -5.63%. The Trump rally was good while it lasted but it was a short lived honeymoon, maybe too short.
Industry Groups: On Friday, Retail – Catalog & Internet Order was up a portfolio friendly 12.40%; Coal was up 9.35%; Investment Trusts was up 8.65%; Advertising / Marketing was up 7.89% and Textiles & Leather Goods was up 6.06%.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were nine Decliners for every five Advancers or a precise ratio of 1.88-to-1.0. In actual numbers, there were 2,660 Decliners to 1,409 Advancers with 285 Unchanged.
Friday, there were 117 new 52-Week Highs and 108 new 52-Week Lows. By comparison, on Thursday there were 177 new 52-Week Highs and 90 new 52-Week Lows. The market deteriorated on Friday.
The total volume of stocks traded at the NYSE today was 1,202,169,678 or 21% more, when compared to the total volume of 990,396,958 stocks traded on Thursday.
On the NASDAQ, the Decliners outnumbered the Advancers. Roughly, for every five Decliners there were two Advancers or a precise ratio of 2.51-to-1.0. In actual numbers, 3,115 Decliners to 1,241 Advancers with 221 Unchanged.
Today, there were 64 new 52-Week Highs but 295 new 52-Week Lows. By comparison, on Thursday there were 116 new 52-Week Highs but 206 new 52-Week Lows. The NASDAQ was really bearish on Friday.
The total volume of stocks traded at the NASDAQ today was 8,158,053,620, or 19% less when compared to the total volume of 10,047,802,294 shares traded on Thursday.
Oil Price: U.S. crude oil tumbled 4.8% to $67.02 a barrel last week.
10 –year Treasury Yield: The 10-year Treasury yield rose a few basis points to 4.45%.
.
Stocks In The News/Stocks To Watch
The Toronto Market
The market craze is currently all about AI. However, AI processing will take place mainly inside data centers which will always consume and require loads of electricity. The most reliable supply for the quality and quantity of electricity required is likely to be nuclear, at least given currently available technology. Cameco should not be far from the watchlist of long term investors. On Friday Cameco Corp (TSX:CCO) was up 1.12% or $0.84 to close at $75.48 with 2.9 M shares traded. That volume eclipsed the stock’s 50-day average volume of 1.2 M.
The US Markets
The Trump rally is likely done or best regarded as done but Tesla Inc (TSLA), a major beneficiary and participant in the Trump rally had a good session on Friday, up 3.07% or $9.54 to close at $320.72 with a hefty 114.4M shares changing hands, after having declined each of the previous three sessions. One can’t always rule out the Tesla stock. It springs surprises all the time and with the new administration taking over in the US in January, Tesla will remain a stock to keep an eye on in the short and long terms.
.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Blended Growth Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
Tesla Inc. (TSLA) and the other EV manufacturer’s stocks in our watchlist had a good session on Friday. TSLA is likely to keep springing surprises in the near term.
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 posts 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. We do not, like AI, make things up.
