The Stock Market At Close – Friday December 2
The TSX index ended today’s market session down 39.79 points, or 0.2%, to close at 20,485.66. The index was weighted down by the financials and the technology sectors. The financials fell 0.4%, while technology ended the session 0.8% lower. Bank of Montreal (TSX:BMO) was the “star” amongst the big six banks today. BMO closed today at $134.38, up 1.38% with 2.5M shares changing ownership today. Shopify was down 33cents on a volume of 6.9M shares traded.
In the US market today: The Dow Jones Industrial Average rose 34.87 points, or 0.1%, to close at 34,429.88, the S&P 500 lost 4.87 points, or 0.12%, to close at 4,071.7. Nasdaq Composite dropped 20.95 points, or 0.18%, to close the session at 11,461.50. The closing values did not give the day’s complete picture though as the indexes were down about 1% earlier in the session on employment rates report, before clawing their way up later in the session
The market rally appears resilient as stocks were able to claw their way back up to hold key levels despite Job surge reported. The market mover these days remains the direction and the hike size of interest by Feds at the next meeting later this month. The Labor Department’s jobs report showed nonfarm payrolls rose by 263,000, above expectations of 200,000 and wage growth an increase of 75 basis point has not been completely ruled out. See our post yesterday and the day before for more information on this aspect.
Meta Platforms (META) appears to be on the way back. There is no big volume action to report but it certainly is a stock to keep an eye on.
Stock In The News:
Continuing our feature from yesterday on retail and eCommerce stocks, Best Buy was up marginally, 13cents to close $86.60 on a volume of 2.7M shares traded. Costco continued the down trend today. Etsy Inc. (ETSY) was up again today. Shopify (TSX:SHOP) was down 33cents on a volume of 6.9M shares traded today.
Special Mention: McKesson Corporation (MCK), a diversified healthcare services provider was up 1.88% to close at $386.88. Volume traded was 1.1M.
Nucor (NUE), the steels product manufacturer we featured last week was Nucor continues to execute well. Nucor Corporation is focused on manufacturing steel and steel products that produces direct reduced iron for use in its steel mills. A couple of weeks ago BMO Capital boosted its Price Target on Nucor to $142 From $113 and maintained Market Perform Rating. Nucor closed today up 3.32% to close at 154.12. Volume traded was 2.3M
Enphase Energy Inc. (ENPH) is an energy technology company. For investors interested in climate issues, we introduced today a new energy technology stock. The Company, a global energy technology company is a supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power, and control it all with a smart mobile application. Its semiconductor-based microinverter converts energy at the individual solar module level and, combined with its networking and software technologies that provides advanced energy monitoring and control. Enphase is the world’s leading supplier of microinverter-based solar and battery systems. Enphase Energy was up 7.1% or $22 today to close at $336.00. See our regular daily feature: Popular EV, Energy and Resource Stocks at Today’s Market below
Regular Market Day Features
The Canadian Vanguard – Beginner Investor’s (Canadian) Watchlist:
Stocks Seeing Heavy (Possibly Institutional) Buying:
Stocks Seeing Heavy (Possibly Institutional) Selling:
Canadian Vanguard Chinese Stocks Watchlist:
Popular EV, Energy and Resource Stocks at Today’s Market: