HomeStock MarketsThe Canadian Vanguard Stock Market Report At Close – Friday, December 8, 2023 – with Updates

The Canadian Vanguard Stock Market Report At Close – Friday, December 8, 2023 – with Updates

The Canadian Vanguard Stock Market Report At Close – Friday, December 8, 2023 – with Updates

Update on  Sunday, December 10 at 7pm

The futures market opened at 6pm, currently the Dow Jones futures is up slightly, Gold is up $5.90 and Oil is up $0.04

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Please see below for The Canadian Vanguard Report for Friday’s market, with updates on Sunday, December 10 as at 4pm

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Your  Market Report And Analysis For Tomorrow’s Market Winning Trades

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The Toronto Market on Friday

The TSX closed today up 53.03 points or 0.26% to close at 20,331.54. The index is consolidating its grip on the 20,000 points level.

                                                                                                                                                       

 

The Energy sector was up 0.95% today trying to recover from a week of declines. Energy, was the top performing sector today. Healthcare gained 0.68%; Technology with a gain of 0.65% was next; Financials followed, up 0.62% for the day and the Durable Consumer Goods & Services with 0.05% gain was the lowest gainer of the five major sectors which gained today. Telecommunications was the worst performing sector for the day with a not so small of -1.05%. Utilities declined -0.35%; Industrials declined -0.30% while Basic Materials declined -0.20%.

Construction – Supplies & Fixtures with a gain of 2.48% was the top performing industry during Friday’s market session. Retail – Apparel & Accessories gained 2.29%; Mining & Metals – Specialty was up 2.11%; Communications Equipment gained 1.93% and Electrical Components & Equipment was up 1.87%. The industries that were gaining earlier in the week or were top performers during the previous week –  Aluminum, Semiconductors and Paper Packaging,  were each down well over -2.25% or worse today. They might just be taking a breather or  investors  might be moving funds around – rotation. We’ll keep an eye on the data for you as the market progresses.

Today’s Statistics: The gaining issues (advancers) outnumbered the declined issues (decliners) by a ratio of 1.20-to-1.00 or for every six gainers there are five decliners.  In real numbers, 794 advancers to 661 decliners with 202 Unchanged. The total volume of shares traded for gaining stocks was 218,272,954 or 67.7%; the total volume for declined stocks was 88,539,740 or 27.5% and 15,469,390 or 4.8% for “Unchanged”.

Today, Friday, there were 112 new 52-Week Highs and 19 new 52-Week Lows. Yesterday, comparable figures were 89 new 52-Week Highs and 27 new 52-Week Lows. The current bullish trend remains very much intact. If you have been sitting on the fence you should seriously be finalizing your strategy to return to the market.

The total volume of stocks traded at the TSX today was 322,282,084 compared with 342,081,981 on Thursday, a 5.8% decrease. Today’s volume of 322,282,084 is about four percent, 4%, below the daily average of the ten most recent market sessions.

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The US Market

The Dow Jones Industrial Average closed up 130.49 points, or 0.36%, to close at 36,247.87. The S&P 500 was up 18.78 points, or 0.410%, to close at 4,604.37. The NASDAQ Composite climbed 63.98 points or 0.45%, to close at 14,403.97.

Seven of the major sectors ended Friday’s market session in the green.  Energy, up 1.23% had the best performance for the day but the worst performance, -3.05% for the week. Financials up 0.68% was next.   Technology gained 0.65%; Industrials gained 0.44%; Basic Materials gained 0.21% and Healthcare gained 0.11%. Utilities, Telecommunications Services and Durable Consumer Goods & Services declined -0.20%, -0.51% and -0.53% respectively.

Financials with 37.7% gain was eminently the week’s top performing sector Discretionary Consumer Good & Services was next, up a more normal 0.94% for the week. Technology gained 0.71% and Industrials gained 0.56% for the week.

Today’s Market Statistics: Today, the gaining issues (advancers) continue to outnumber the declined issues (decliners) on the NYSE. The ratio of decliners to advancers on the NYSE was 1.35-to-1 or for every seven advancers there were five decliners. In real numbers, 2,268 advancers to 1,674 decliners with 282 “Unchanged”. The total volume of volume-gaining stocks was 622,280,074 or 66.9%; the total volume of declined-volume stocks was 300,981,025 or 32.4%; and 7,121,304 or 0.8% “Unchanged”.

Today, Friday, there were 261 new 52-Week Highs and 52 new 52-Week Lows. The comparable data yesterday were 126 new 52-Week Highs and 52 new 52-Week Lows. The current market rally not only has legs, it may be developing wings. Traders need to be very careful though. Nothing goes up forever and especially and instructively, the stock market is a zero sum scenario. Most times somebody has to lose for somebody else to gain.

The total volume of stocks traded on the NYSE today was 930,382,403 compared with 926,912,276 on Thursday, practically, a negligible difference.   Today’s total volume, of 930,382,403 was about the average of the ten most recent market sessions.

On the NASDAQ, the advancers outnumbered the decliners. There were 2,409 advancers to 1,897 decliners with 329 unchanged, a ratio of 1.27-to-1 or for every thirteen advancers there were ten decliners. The total volume of volume-gaining stocks was 2,641,630,983 or 47.2%; the total volume of declined-volume stocks was 2,927,347,960 or 52.3% and 31,857,932 or 0.6% for “Unchanged”.

There were 154 new 52-Week Highs and 112 new 52-Week Lows.

The total volume of shares traded today was 5,600,836,875 compared to 5,872,807,346 yesterday, Thursday, a 5.0% decrease. The volume of stocks traded today at 5,600,836,875 is about the average volume of the ten most recent market sessions.

The market’s bullish trend remains intact. The market outlook remains uptrend positive.

10 –year Treasury Yield:  The 10-year Treasury yield rose to 4.25%. The 10-year yield jumped more than 11 basis points Friday following the unexpected decline in the unemployment rate as per the November jobs report. The two-year Treasury yield leapt 16 basis points to 4.725%.

Stocks In The News/Stocks To Watch

The Toronto Market

Nuvei Corporation (NVEI) is one of the smaller Technology companies on the TSX that has a good chart. It’s

Dye & Durham (DND) is also another Technology company worth keeping an eye on. The stock price is on a recovery mode.

Cameco Corporation (CCO) is a stock for your long term watch list. The company’s industry is going to be a direct beneficiary of the move away from fossil fuels.

The US Market

It is not often that we discuss or mention Crypto related stocks in The Canadian Vanguard stock market reports. The world is increasingly getting digitized. However, real digital currency will become reality when the major governments decide to commit to it. Until that happens or for as long things are left to private entrepreneurs to develop and manage, digital currencies will remain “Buyer Beware” products. Coinbase Global Inc. (COIN)  stock has been on a relentless upward climb since late October. It looks, from the chart, that the stock might go sideways in the short term before either continuing to climb if the current market rally persists or most likely drop and even possibly collapse abruptly. These types of stocks are pure speculative plays – something for the really adventurous souls – gamblers and not investors.

 

Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

On November  9, 2023, https://www.blackcanadianmedia.ca/the-canadian-vanguard-stock-market-report-at-close-thursday-november-9-2023/  we pointed out the likely rewards for buying shares of the Canadian big banks at that time. Today, a month later, you may still go ahead and purchase the big bank stocks but a few things have changed between then and now. The banks’ share prices have recovered a good amount. There is no data to support a likelihood of a big  increase in dividends by the banks in the near term, so your dividend yield going forward if you purchase now, may be lower. There are, of course, other reasons for purchasing  banks stock beside dividend yield.

The Canadian Vanguard Chinese Stocks Watchlist 

EV, Energy and Resource Stocks Watchlist 

The Canadian Vanguard Market Reports:

Our reports are composed by top level professionals after proper analysis and research. We do not, like AI, make things up. Our reports are data driven and carefully analyzed for trends detecting possible glitches or temporary bumps in the market data and indicating same to our readers.

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