The Canadian Vanguard Stock Market Report At Close – Thursday, December 14, 2023
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Your Market Report And Analysis For Tomorrow’s Market Winning Trades
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The Toronto Market
The TSX composite index was up 149.35 points or 0.72% to close at 20,778.80. The TSX is on high-octane rally. It is a day of rising tide which lifts all boats. Volume was up, with total of shares traded crossing well over the three hundred thousand mark. The TSX total session’s volume exceeds 300 million on only about 20 or fewer times a year. On November 30 the total volume of shares traded on the TSX was 397,333,633. Prior to that date, the last time the TSX market’s daily volume exceeded 300M was on September 15th when the volume was 511,260,451.
The market performance and market’s gain was broad based today .Eight of the ten major sectors were up. Technology with 2.11% gain was the top performer and Industrials had the smallest of the sectors ending the session in green. Financials gained 1.19% as all the big five banks make solid (1.5% or higher) gains today. Basic materials gained 1.15%; Utilities gained 0.55% and Energy gained 0.34%. Telecommunications Services and Durable Consumer Goods & Services declining -1.82% and -3.46% were the only two sectors on the TSX to decline at today‘s market session.
Hotels, Motels & Cruise Lines with 9.68% gain was the top gaining industry today. Computer Hardware followed with 6.12% gain; Retail – Apparel & Accessories gained 6.10%; Leisure Products gained 6.07% and Auto /Truck/Motorcycles Parts gained 5.66%
Today’s Statistics: The gaining issues (advancers) totally outnumbered the declined issues (decliners) today. The ratio was by a ratio of 2.53-to-1 or for every five advancers there were two decliners. In real numbers, 1,088 advancers to 429 decliners with 139 Unchanged. The total volume of shares traded for gaining stocks was 322,068,164 or 70.2%; the total volume for declined stocks was 123,405,098 or 26.9% and 13,327,444 or 2.9% for “Unchanged”. Most of the bears have temporarily disappeared from the market.
There were 311 new 52-Week Highs and 19 new 52-Week Lows. The bullish trend is growing more wings.
The total volume of stocks traded at the TSX today was 458,800,706 compared with 253,693,152 yesterday, a decrease of 10%. Today’s volume of 458,800,706 is about fifty percentage higher than the average of the ten most recent market sessions.
The US Markets
The Dow Jones Industrial Average closed up 158.11 points, or 0.43%, to close at 37,248.35. The S&P 500 was up 12.46 points, or 0.26%, to close at 4,719.55. The Nasdaq Composite gained 27.59 points or 0.19%, to close at 14,761.56. All the indexes gained with strong volumes. Volume was up a whopping 19.33% on the NASDAQ and even higher increase of 24.69% on the NYSE.
Today’s Market Statistics: Today, the gaining issues (advancers) totally outnumbered the declined issues (decliners) on the NYSE. The ratio of advancers to decliners on the NYSE was 4.48-to-1; for every nine advancers there were two decliners. In real numbers, 3,421 advancers to 764 decliners to with 218 “Unchanged”. The total volume of volume-gaining stocks was 1,273,419,306 or 80.6%; the total volume of declined-volume stocks was 297,388,146 or 18.8%; and 8,234,600 or 0.5% “Unchanged”.
There were 863 new 52-Week Highs and 60 new 52-Week Lows.
The current market rally is running on all cylinders. It is not a time to be sitting on the fence. It is a time to be making strategic moves at the market based on quality research of course.
The total volume of stocks traded on the NYSE today was 1,579,042,052. Volume on the NYSE was up 24% today compared to yesterday.
On the NASDAQ, the advancers outnumbered decliners by a ratio of five advancers for every two decliners. There were 3,135 advancers to 1,269 decliners with 299 unchanged. The total volume of volume-gaining stocks was 6,171,115,697 or 75.2%; the total volume of declined-volume stocks was 1,962,553,362 or 23.9% and 68,013,081 or 0.8% for “Unchanged”.
There were 490 new 52-Week Highs and 85 new 52-Week Lows. The bears have certainly gone away for an extended lunch break now.
The total volume of shares traded today was 8,201,682,140. The volume of stocks traded represented a 19.33 increase compared to yesterday.
The bullish trend remains very much alive and dominant.
The market outlook remains uptrend positive.
10 –year Treasury Yield: The 10-year Treasury yield fell 10 basis points to 3.93%. It is a good sign for the economy when the 10-year yield below 4%. It is the first the yield has been fallen below 4% level in four months. The two-year Treasury yield dropped 8 basis points to 4.40% today, its lowest level in nine months.
Stocks In The News/Stocks To Watch
The Toronto Market
The big story today is the Canadian big five banks. Each of the big banks gained over 1.5% today. Royal Bank climbed back up above $130.00 today after several months.
The US Market
Super Micro Computers (SMCI) climbed up advancing towards the $300 mark. The stock has always turned back a few point s below that mark. $300 remains a resistance level for the stock
Rivian Automotive (RIVN) was up 13% today. The stock still has ways to go but is worth keeping an eye on. the company is part of Amazon’s holdings.
The banks are the group to keep an eye on especially regional banks in the US. Western Alliance Bancorp (WAL) was up 9% today on good volume.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
The Canadian Vanguard Market Reports:
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