The Canadian Vanguard Stock Market Report At Close – Thursday, November 30, 2023
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Today’s 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 has been up, up and up, three consecutive market sessions, today included. The TSX was up 120.09 points or 0.60% to close at 20,236.29. The TSX is in a rally mode. Volume today was 529,084,064. To put things into perspective the total volume traded yesterday was 316,965,492 a 67% increase in volume. This is a rally, judging by the size of the volume of shares traded today, driven by a large number of investors and traders returning to the market. This rally has huge momentum. It is a positive time with good opportunities for traders.
Telecommunications Services with 1.26% gain was the top gaining sector today. Financials gained 0.97% as the big banks roared to life with big gains on top of the gains made yesterday; Industrials gained 0.91%; Utilities gained 0.64% while Energy gained 0.40; Basic Materials gained 0.33% and Healthcare gained 0.02%. Technology, declining for the third consecutive market session, declined -0.84% today. Technology was the top gainer at two market sessions last week.
The Technology sector is comprised of companies manufacturing semiconductors, computer hardware, software companies, communications equipment, technology related office equipment, and IT Services & Consulting.
The top gaining industry at the TSX today was Computer Hardware with 20.11% gain. Publishing industry gained 8.75%; Marine Transportation gained 3.3%; Media Diversified gained 2.77% and Environmental services gained 2.45%.
Today’s Statistics: The gaining issues (advancers) outnumbered the declined issues (decliners) by a ratio of 1.09-to-1.00 or for every eleven gainers there were ten decliners. In real numbers, 773 advancers to 706 decliners with 168 Unchanged. The total volume of shares traded for gaining stocks was 338,658,821 or 64%; the total volume for declined stocks was 175,579,485 or 33.2% and 14,845,758 or 2.8% “Unchanged”.
There were 39 new 52-Week Highs and 261 new 52-Week Lows. The bullish trend remains intact.
The total volume of stocks traded at the TSX today was 529,084,064 compared with 316,965,492 yesterday, a 67% increase. Today’s volume of 529,084,064 is about thirty one per cent higher than the average of the ten most recent market sessions.
The US Market
The market was mixed today. The Dow Jones Industrial Average closed up 520.47 points, or 1.47%, to close at 35,950.89. The S&P 500 was up 17.22 points, or 0.38%, to close at 4,567.8. The Nasdaq Composite declined -32.27 points or -0.23%, to close at 14,226.22. It was a high octane powered day for the Dow Jones index. The index soared high today while the S&P 500 index put on a muted performance. NASDAQ actually ended the market session in the red.
Healthcare with 1.06% gain was the top performing sector at the US markets today. Financials followed with 0.85% gain; Telecommunication Services also gained 0.85% while Industrials gained 0.80%. Durable Consumer Goods & Services gained 0.75%; Basic Materials gained 0.66%; Energy gained 0.52% and Utilities gained 0.46%. Technology declined -0.25% at today’s market session.
Airport Services with 2.95% was the top performing industry. Managed Health Care was up 2.84%; Paper Packaging gained 2.43%; Rails & Roads – Passengers gained 2.24% while Marine Transportation gained 2.23%
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, 2,455 advancers to 1,515 decliners with 297 “Unchanged”. The total volume of volume-gaining stocks was 1,376,758,394 or 69.6%; the total volume of declined-volume stocks was 558,892,832 or 28.3%; and 41,139,698 or 2.1% “Unchanged”.
There were 198 new 52-Week Highs and 48 new 52-Week Lows.
The total volume of stocks traded on the NYSE today was 1,976,790,924 compared with 1,033,015,459 yesterday, a 91% increase; almost double. Today’s total volume, of 959,764,050 shares traded was about 48% higher than the average of the ten most recent market sessions.
On the NASDAQ, the advancers outnumbered the decliners. The two numbers today were almost even. There were 2,183 advancers to 2,151 decliners with 365 unchanged, a ratio of 1.01-to-1. The total volume of volume-gaining stocks was 2,511,599,314 or 42.4%; the total volume of declined-volume stocks was 3,227,172,873 or 54.5% and 178,934,456 or 3% “Unchanged”.
There were 97 new 52-Week Highs and 127 new 52-Week Lows.
The total volume of shares traded today was 5,917,706,643 compared to 5,031,273,002 yesterday, a 17.6% increase. The volume of stocks traded today at 5,917,706,643 is twelve per cent higher than the average volume of the ten most recent market sessions.
The daily session volume is up considerably today. The current bullish trend not only remains but appears to be getting more muscular. The market outlook remains uptrend positive.
10 –year Treasury Yield: The 10-year Treasury yield fell a few basis points to 4.32%.
Stocks In The News/Stocks To Watch
The Toronto Market
The banking industry was the big winner at the TSX at today’s market session. Please see our report on November 9 https://www.blackcanadianmedia.ca/the-canadian-vanguard-stock-market-report-at-close-thursday-november-9-2023/ before continuing reading. In particular, the Canadian Imperial Bank of Commerce (TSX:CM) was a big winner at the TSX today. The CM stock soared 5.13%. It is not often that we see a big bank’s stock climb 5% in one session, see the the link above for more details. The good news is that the stock’s chart is not extended. The stock gapped up with good volume support today. We should keep an eye (or both eyes really) on this stock in the near term.
It is important to remember an important relationship between share price and the dividend yield especially for our older readers who may be investing for income. If you are buying for the dividends then the lower your share price buy point the higher your dividend yield. Currently, for CIBC, the Quarterly Dividend/Yield is $0.87 or 6.2%. For Royal Bank (TSX:RY) the equivalent figures for comparison purposes are $1.35 or 4.4%; for Bank of Montreal (TSX:BMO), the figures are $1.47 or 5.28%; for TD Bank (TSX:TD) the equivalent figures are $0.96 or 4.64% and for The Bank of Nova Scotia (TSX:BNS) the equivalent figures are $1.06 or 6.99% as of today. The 3month daily chart for CIBC, RBC ,BMO and Bank of Nova Scotia are presented below.
The US Markets
Two days ago, we reported on Boeing Company (BA) and mentioned that the stock of big matured companies “do fly sometimes”. Today, Boeing gained 3.21% or $7.20 to close at $231.63. The volume of shares traded was 8.7M. We maintain that Boeing Company is a stock to keep an eye on, in the short term based on current statistics and also in the long term based on current fundamentals.
Salesforce (CRM) was in the news today. The stock was a big winner, up 9.36% or $21.55 to close the session at $251.90 with a 419% gain in the volume of shares traded compared to the volume of shares traded on Wednesday, the previous market session. MT Newswires reported that Marc Benioff, Director, Chair and CEO, on November 29, 2023, sold 15,000 shares in Salesforce (CRM) for $3,451,912. Mr. Benioff has control over a total of 24,756,166 shares of the company, with 14,756,166 shares held directly and 10,000,000 controlled indirectly.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
IMPORTANT NOTICE
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