The Canadian Vanguard Stock Market Report At Close – Monday, November 20, 2023
Your Market Report And Analysis For Tomorrow’s Market Winning Trades And Profitable Investing.
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The Toronto Market
The Toronto TSX composite index was up 70.70 points or 0.35% to close at 20,246.47. The TSX continues to climb upwards, no news splash worthy giant gains but measured comfortable, investor reassuring gains. The composite index has gained six consecutive sessions to date.
Today, eight of the ten TSX major sectors finished in green. Technology, was the top gaining sector with 1.13% gain, Oil price was up 2.2% today, but the Energy sector on the TSX only managed a 0.31% gain. The Financials gained 0.48% but most of the big five banks managed only marginal gains today. Basic Materials was up 0.42% which is an improvement over the sector’s gain on Friday. Healthcare was a big winner today. It gained 0.78%. Industrials gained 0.17% while Utilities gained 0.14.
Reinsurance and Aluminum were the top industry gainers on the TSX today, both industries were up 2.78%. Aluminum followed with 2.78%; Highways & Railtracks was up 2.75%; Air freight & Courier Services gained 2.62% while Semiconductors gained 2.41%.
Today’s Statistics: The gaining issues (advancers) outnumbered the declined issues (decliners) by a ratio of 3.09-to-1.00. In real numbers, 1,101 advancers to 356 decliners with 190 Unchanged. The total volume of shares traded for gaining stocks was 180,779,912 or 67.9%; the total volume for declined stocks was 74,963,331 or 28.2% and 10,449,459 or 3.9% for “Unchanged”.
There were 159 new 52-Week Highs and 27 new 52-Week Lows. The bullish trend remains intact. Today, was lopsidedly bullish. It would appear the bulls are celebrating the end of interest rate hikes in advance. Unfortunately, the market can spin surprise anytime.
The total volume of stocks traded at the TSX today was 266,192,702 compared with 250,228,063 on Friday, a 6% increase in volume. Today’s volume of 266,192,702 is about 8% below the average of the most recent ten-market sessions.
The US Markets
The market was mixed today. Dow Jones Industrial Average closed up 185.46 points, or 0.53%, to close at 35,132.74. The S&P 500 was up 31.32 points, or 0.69%, to close at 4,545.34. The Nasdaq Composite gained 149.84 points or 1.06%, to close at 14,275.32.
The bears virtually disappeared from the market today. The market today was like the rising tide that lifts all boats.
Technology, with a gain of 1.38% was the top gainer at the US markets. Telecommunication Services with a gain of 0.89%. Healthcare was next with a gain of 0.57%. Energy gained 0.45%; Basic Materials gained 0.43%. Financials gained 0.36%. utilities was the only sector to end the day in red.
Advertising/Marketing with a gain of 2.64% was the top industry gainer. Fishing & Farming was next with a gain of 2.08%. Retail – Department Stores gained 2.01% while Semiconductor Equipment & Testing gained 1.98%.
Today’s Market Statistics: Today, the gaining issues (advancers) outnumbered the declined issues (decliners) on the NYSE. The ratio of decliners to advancers on the NYSE was 1.08-to-1. In real numbers, 2,770 advancers to 1,276 decliners to with 262 “Unchanged”. The total volume of volume-gaining stocks was 602,777,661 or 66.1%; the total volume of declined-volume stocks was 292,249,672 or 32.1%; and 16,501,007 or 1.8% “Unchanged”.
There were 220 new 52-Week Highs and 62 new 52-Week Lows.
The total volume of stocks traded on the NYSE today was 911,528,340 compared with 827,112,937 on Friday, a 10% increase. Today’s total volume, of 911,528,340 shares traded was about 12% below the average of the most recent ten-market sessions.
On the NASDAQ, the advancers outnumbered the decliners today. There were 2,677 advancers to 1,608 decliners with 399 unchanged, a ratio of 1.08-to-1. The total volume of volume-gaining stocks was 3,437,901,802 or 73.3%; the total volume of declined-volume stocks was 1,219,749,415 or 26.0% and 30,422,696 or 0.6% for “Unchanged”. There were 66 new 52-Week Highs and 246 new 52-Week Lows.
The market lacked enthusiasm today. The total volume of stocks traded today was down by a good margin from normal daily average. The total volume today of 4,688,073,913 compared to 4,455,873,523 on Thursday, a 5% increase. The volume of stocks traded today at 4,688,073,913 was much lower than the average volume of the ten most recent market sessions.
Stocks In The News/Stocks To Watch:
The Toronto Market
The Canadian big five banks passed on the action at the market today. Th banks except for BMO ended in green but the gains were paltry. It looks like they are yet to finish digesting the gains they made on Friday.
Shopify (TSX:SHOP) gained today. Most of the Tech companies listed on the TSX gained today. Celestica (TSX:CLS) continues to climb up slowly but steadily.
The US Markets
The talk today is actually about tomorrow. NVIDIA Corp (NVDA is due to report earning. Early in the year NVDA stock made gargantuan gains after every earnings report. We are waiting to see if the trend continues.
MongoDB (MDB) and Super Micro Computer Inc.(SMCI) were big winners today. SMCI crossed and stayed above the 300 level closing the day at $304.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
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