The Canadian Vanguard Stock Market Report At Market Close – Wednesday, December 11, 2024

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The Toronto Market

Today, the TSX composite recovered vigorously from the down trend of the past three sessions. The index advanced 153.37 points or 0.60 to close the market session at 25,657.70.

                                                                                                                                

The Market Spread:  The rally staged a forceful return today but the market breadth was limited. Technology and the “magnificent seven” stocks dominated the rally. Technology, up 2.15%, the worst performing sector yesterday was the lead sector today. Basic Materials was up 1.82% and Energy was up 0.83%; Financials was up 0.28% and Discretionary Consumer Goods & Services was up 0.16%.  Industrials was down -0.36%; Utilities was down -1.18% and Telecommunications Services was down -2.15%.

Industry Groups:  Computer Hardware was up 122.74%, up from yesterday’s 2.79%; Advertising / Marketing was up 5.18%; Coal was up 3.26%; Precious Metals & Minerals was up 3.00% and IT Services & consulting was up 2.89%.

Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were eight Advancers to five Decliners or an exact ratio of 1.66-to-1.0. In real numbers, there were 1,178 Advancers to 709 Decliners while 167 stocks remained Unchanged.

The total volume of shares traded at the TSX today was 379,302,242, 11% lower when compared to the volume of 425,098,715 shares traded yesterday.

Today, there were 201 new 52-Week Highs and 24 new 52-Week Lows. By comparison, there were 120 new 52-Week Highs and 19 new 52-Week Lows yesterday. The market reversed and regained the bullish trend.

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The US Markets

The Dow Jones Index declined -99.27.10 points or -0.22% to close at 44,148.56. The S&P 500 index gained 49.28 points or 0.82%, to close at 6,084.56. The Nasdaq Composite advanced 347.65 points or 1.77%, to close at 20,034.90. The Tech titans – the magnificent seven and took over today and drove the NASDAQ to an all time record level.

The Market Spread: Six of the major sectors gained today. Technology, up 1.75%, dominated the sectors. Discretionary Consumer Goods & Services was up 1.59%;  Energy was up 0.53%; Financial was up 0.52%; Basic Materials was up 0.20% and Industrials was up 0.13%.   Utilities was down -0.09%; Telecommunications Services  was down -0.10%; Durable Discretionary Consumer Goods & Services was down -0.49% and Healthcare was down -0.84%.

Industry Groups: Auto & Truck Manufacturers was up 4.29%; Marine Port Services was up 3.54%; Precious Metals & Minerals was up 3.23%; Semiconductors and Retail – Computers & Electronics were each up 3.09%.

Today’s Market Statistics:  At the NYSE, the gaining issues (Advancers) outnumbered the declined issues (Decliners). There were six Advancers for every five Decliners or a precise ratio of 1.27-to-1.0. In actual numbers, there were 2,279 Advancers to 1,790 Decliners with 316 Unchanged.

Today, there were 236 new 52-Week Highs and 79 new 52-Week Lows. By comparison, yesterday, there were 117 new 52-Week Highs and 42 new 52-Week Lows.

The total volume of stocks traded at the NYSE on today was 906,657,927, a massive 30% lower when compared to the volume of 1,282,051,791 traded yesterday.

On the NASDAQ, the Advancers outnumbered the Decliners. Roughly, for every eight Advancers there were five Decliners or a precise ratio of 1.61-to-1.0. In actual numbers, 2,671 Advancers to 1,655 Decliners with 272 Unchanged.

Today, there were 211 new 52-Week Highs but 140 new 52-Week Lows – a bullish reversal today.  By comparison, yesterday there were 126 new 52-Week Highs but 99 new 52-Week Lows.

The total volume of shares traded at the NASDAQ today was 6,908,188,497, or 15% less when compared to the volume of 8,064,735,222 shares traded yesterday.

Oil Price:    U.S. crude oil price appears to be on a slight uptrend. Oil price was at $70.37 a barrel as at the time of posting this report.

10 –year Treasury Yield:  The US 10-year Treasury yield closed at 4.269%, up from 4.219% close, the previous market session. The five-year yield rose to 4.133%.

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Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

Blended Growth Stocks Watchlist  

Apple (APPL) blinked today but would surely return to the recent uptrend trend.

EV, Energy and Resource Stocks Watchlist

Tesla Inc. (TSLA) clocked a three year high record  level today. There seems a lot going for the Tesla stock aside from the regular business fundamentals. The opportunities represented by Elon Musk being an influential member of  the Trump’s administration appears to be driving more regular folks to expect the Tesla stock to outperform.

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