The Canadian Vanguard Stock Market Report At Close – Wednesday, November 29, 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

On Tuesday, we mentioned that the TSX composite index was back to last week’s period of single digit only decline or gain daily. The TSX obviously “decided to be more decisive” with its performance today. The index gained 79.43 points or 0.40% to close at 20,116.20. The total volume of shares traded was lower today compared to yesterday but was still well above the recent daily market average.

                                                                                                                                                           

Today, six of the ten TSX major sectors finished the market session up from the previous session close. Financials, up 1%,  was the leading sector at today’s market. Industrials followed with 0.47% gain; Healthcare gained 0.30%; Durable Consumer Goods & Services gained 0.23% and Energy gained 0.12%. Technology declined -0.01%; Basic Materials declined – 0.45% and Utilities was down -0.52%.

Semiconductors industry advanced 3.49%; Aluminum advanced 2.78%; Reinsurance gained 2.77%; Air freight & Courier Services gained 2.31% and Investment Services industry gained 2.24% at today’s market session.

Today’s Statistics:  There were 983 advancers to 432 decliners with 176 Unchanged; the gaining issues (advancers) outnumbered the declined issues (decliners) by a ratio of 2.27-to-1.00, or for every ten decliners there were twenty three advancers. The total volume of shares traded for gaining stocks was 209,000,397 or 65.9%; the total volume for declined stocks was 99,807,670 or 31.5% and 8,157,425 or 2.6% for “Unchanged”.

There were 54 new 52-Week Highs and 22 new 52-Week Lows. The bullish trend is actually getting more muscular. It is time to be fully invested.

The total volume of stocks traded at the TSX today was 316,965,492 compared with 342,893,650 yesterday, an 8% decrease. Today’s volume of 316,965,492 is about one per cent higher than the average of the ten most recent market sessions.

 

The US Markets

The Dow Jones Industrial Average managed to close up a mere 13.44 points, or  0.04%, to close at 35,430.42 after a quite choppy  session. The Dow declined one hundred and fifty points in the last two hours of the market session. The S&P 500 was down a marginal -4.31 points, or -0.09%, to close at 4,550.58. The Nasdaq Composite declined -23.27 points or -0.16%, to close at 14,258.49.

Financials was the lead gaining sector at the US markets today. Financials gained 0.99%; Telecommunications Services was next with 0.38% gain; Industrials gained 0.21%; Healthcare gained 0.12% and Technology gained 0.01%; Energy declined -0.54% while Utilities declined -0.68%.

Retail – Computers & Electronics industry was up 3.89%; Paper Packaging gained 3.16%; Advertising / Marketing and Computer Hardware were both equally up 3.01% while Banks were up 2.18%.

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 2.06-to-1. In real numbers, 2,714 advancers to 1,319 decliners with 254 “Unchanged”. The total volume of volume-gaining stocks was 654,473,634 or 63.4%; the total volume of declined-volume stocks was 363,798,726 or 35.2%; and 14,743,099 or 1.4% “Unchanged”.

There were 225 new 52-Week Highs to 47 new 52-Week Lows.  Today’s market was lopsidedly bullish. It is time to get fully invested.

The total volume of stocks traded on the NYSE today was 1,033,015,459 compared with 873,690,403 yesterday, a 25% increase. Today’s total volume, of 1,033,015,459 shares traded was about 10% higher than the average of the ten most recent market sessions.

The total volume of stocks traded on the NYSE today was 25% higher than the volume yesterday, but the indexes barely changed.  It was quite a choppy market day. Investors are returning to the market in large numbers as news continue to indicate relatively tame inflation, a further evidence of less likelihood of the Feds continued wielding of big hammer interest rate hikes. It is time to return to the market and get fully invested but be careful to watch out for stocks with extended charts. Stocks with extended gains risk sudden pullback. It is normal for stocks to take some breather after periods of continued big gains. A number of the technology stocks have really seen big gains this year: NVIDIA has more than doubled, META Platforms, TESLA and Microsoft have seen more than fifty percent gains this year. Super Micro Computers Inc. (SMCI) was trading at $70 in November last year. It currently trades just a little under $300. Nothing goes up and up for ever. The stock market is a zero sum game – most times somebody has to lose for the other person to gain.   The market is in a strong uptrend but some stocks or industries may need to take a breather before resuming the next upward climb.

On the NASDAQ, the advancers totally outnumbered the decliners today. There were 2,585 advancers to 1,728 decliners with 335 unchanged, a ratio of 1.5-to-1, or fifty percent higher. The total volume of volume-gaining stocks was 2,999,572,649 or 59.6%; the total volume of declined-volume stocks was 1,976,875,130 or 39.3% and 54,825,223 or 1.1% for “Unchanged”.

There were 152 new 52-Week Highs and 109 new 52-Week Lows.

The total volume of shares traded today was 5,031,273,002 compared to 4,595,727,135 yesterday, a 9% increase. The volume of stocks traded today at 5,031,273,002 was eight per cent higher than the average volume of the ten most recent market sessions.

The market outlook remains uptrend positive.

10 –year Treasury Yield:   The 10-year Treasury yield fell 6.5 basis points to 4.27%.

Crude oil futures edged lower.

Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

The Canadian Big five banks made up for some lost points today. We shall keep an eye on the earnings reports by the banks.

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.

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