The Canadian Vanguard Stock Market Report At Close – Thursday, December 7, 2023
.
Today’s Market Report And Analysis For Tomorrow’s Market Winning Trades
The Toronto Market
The TSX closed today up 4.30 points or 0.02% to close at 20,278.51. The market was choppy as the index fluctuated above and below the previous day’s closing level a number of times throughout the day. The index eventually ended the day just slightly above yesterday’s closing value.
Today’s market was broad-based positive with only the Energy sector closing in the red having declined -0.68% for the day. Technology with a gain of 0.72% was the top gaining sector today. Utilities gained 0.39%; Telecommunications Services gained 0.30%; Financials and Basic Materials, each gained 0.05% and Healthcare gained 0.02%.
Communications Equipment was the top gaining industry today on the TSX. Aluminum was next with 2.78% gain; Airlines gained 2.73%; Paper Products gained 2.57% while Electrical Components & Equipment industry was up 2.41%.
Today’s Statistics: The gaining issues (advancers) outnumbered the declined issues (decliners) by a ratio of 1.48-to-1.00 or for every three gainers there are two decliners. In real numbers, 828 advancers to 560 decliners with 216 Unchanged. The total volume of shares traded for gaining stocks was 149,178,038 or 43.6%; the total volume for declined stocks was 178,817,264 or 52.3% and 14,086,679 or 4.1% for “Unchanged”.
There were 89 new 52-Week Highs and 27 new 52-Week Lows. That is quite bullish. The current market’s bullish trend remains intact.
The total volume of stocks traded at the TSX today was 342,081,981, about the daily average of the ten most recent market sessions.
The US Markets
The Dow Jones Industrial Average closed up 62.95 points, or 0.17%, to close at 36,117.38. The S&P 500 was up 36.25 points, or 0.80%, to close at 4,585.59. The Nasdaq Composite climbed 193.28 points or 1.37%, to close at 14,339.99. The NASDAQ gain today was powered directly by the big gains by AI Chip Technology manufacturers.
Technology was the top performing sector on the US markets today. The sector was up a good 1.5%, well ahead of Basic Materials, the next best performing sector which was up 0.77%. Financials gained 0.59%; Telecommunications Services gained 0.34%; healthcare was flat while Utilities declined -0.15% and Energy declined -0.28%.
Airlines industry with 2.65% gain was the top performing industry at the US markets today. Semiconductors industry gained 2.45%; Paper Products gained 2.42%; Chemicals – Agricultural gained 2.25% and IT Services & Consulting gained 2.06%. Retail – Specialty was the worst performing declining -1.06%; Oil & Gas Drilling was down -0.91%; Reinsurance was down -0.91%; Airport Services was down -0.76% while Oil & Gas Refining & Marketing was down -0.66%.
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, 2,719 advancers to 1,243 decliners to with 268 “Unchanged”. The total volume of volume-gaining stocks was 605,011,713 or 65.3%; the total volume of declined-volume stocks was 308,622,330 or 33.3%; and 13,278,233 or 1.4% “Unchanged”.
There were 126 new 52-Week Highs and 52 new 52-Week Lows.
The total volume of stocks traded on the NYSE today was 926,912,276. Today’s total volume, of 926,912,276 a less than the average of the ten most recent market sessions.
On the NASDAQ, the advancers outnumbered the decliners. There were 2,669 advancers to 1,659 decliners with 334 unchanged, a ratio of 1.61-to-1. The total volume of volume-gaining stocks was 3,384,625,312 or 57.6%; the total volume of declined-volume stocks was 2,445,316,950 or 41.6% and 42,865,084 or 0.7% for “Unchanged”.
There were 104 new 52-Week Highs and 123 new 52-Week Lows.
The total volume of shares traded today was 5,872,807,346 compared to 5,917,706,643 last Friday, a 1.0% decrease. The volume of stocks traded today at 5,872,807,346 is about the average volume of the ten most recent market sessions. The volume of shares traded on the NASDAQ was up 10.2% while the volume of shares traded at the NYSE was down 10.05%. The NASDAQ gain today was “pumped” up largely by the Technology sectors gaining on AI processing chip’s vendor new product announcements. Traders need to be careful and be sure to watch out for pump and dump promotions.
The market’s bullish trend remains intact. The market outlook remains uptrend positive.
10 –year Treasury Yield: The 10-year yield rebounds slightly to 4.16% as traders await key jobs data due Friday. A hot jobs report could undermine the current positive market trend and lower the current markets’ expectation that the Feds may likely soon start to bring down interest rates.
Stocks In The News/Stocks To Watch
The US Markets
Boeing Company (BA) remains on our list of stock to keep an eye on. Tesla (TSLA) manufactures Electric vehicles but it is listed as a Technology company. We are adding Tesla (TSLA) and Apple to our list of stocks to keep an eye on. Apple (AAPL) has been climbing slowly but steadily since the current rally gained momentum some market sessions back. This rally certainly has legs.
Alphabet Inc. (GOOGL) stock was up at the market session today. US equity markets ended higher today following reports that jobless claims were up and that the economy is likely cooling. It all comes down to how the data affects the likelihood of interest rates starting to come down and thus support the current market buoyancy. Alphabet (GOOG, GOOGL) shares gapped up $6.91 or 5.31% today after Google said it has launched artificial intelligence model Gemini in some of its products, including Bard. The real news to data driven market traders, however, was in the related volume action. Volume of shares traded in GOOGL, the class A shares, was up 96% compared to the volume on Wednesday, the previous market session. Volume of shares traded in GOOG, the Class C shares, was up 77% similarly. The GOOGL stock is worth adding to your watchlist if it is not already in there. The stock is surely worth keeping an eye on.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
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.
