HomeStock MarketsThe Stock Market At Close – Monday December 5

The Stock Market At Close – Monday December 5

The Stock Market At Close – Monday December 5

The price of oil was down 3.8% at $76.93 a barrel.

The TSX was down at today’s market session by 243.40 points, or 1.2%, at 20,242.26, its biggest decline since Nov. 9. The index was down along with resource and technology shares, as investors took stock of the market’s recent rally and awaited a Bank of Canada interest rate decision later this week.

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The U.S. markets were down today as better than expected data about he services sector raised the possibility that the optimism for a lower interest rate hike by the Feds might now be in jeopardy. We are in that era when good main street news appear to be bad news for the stock market. The Federal Reserve bank will continue to raise interest rates until they are sure that inflation is under control. Unfortunately the economy appears to be in a much better shape, continues to appear resilient and as such requiring the Federal Reserve to keep focusing on taming inflation.

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Stock In The News:

The financials were down on both sides of the border. Royal bank was down marginally, 0.39% with a volume of 3M traded. CIBC was down but less than 1% to close at $58.82. Bank of Montreal (BMO) was down 1.02%. Worse damage was done to US financials. The worst performer was Bank of America (BAC) down 4.46% with a heavy volume of 71.4M shares traded. Wells Fargo was down 4.96% with a volume of 32.6M traded.

Bank of Montreal (BMO) 3-month Daily Chart

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JPM 3-month daily Chart

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Shopify was down 4.31% with a volume of 3.4m traded. Restaurant Brands International (TSE:QSR) was up 1.2% with 920.5K shares changing hands today.

Shopify (TSE:SHOP) 3-month Daily Chart

Technology stocks were down both in Canada and in the US today but the big weight tech stocks appear to not have suffered any additional damage today. Meta Platforms Inc. (META) closed today down by 0.86% only to close at $122.43 with a volume of 35.5M. Apple Inc. (AAPL) was down 0.8% to close at $146.63 with a volume of 68.8M traded today.

On the other hand tech stocks like Paycom Software Inc. (PAYC) was down 7.18% to close at $315.47 and 494.5K shares traded. Super Micro Computer Inc. (SMCI) was down 3.91% on a volume of 841K

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Paycom Software Inc. (PAYC) 3month Daily Chart

Regular Market Day Features

The Canadian Vanguard – Beginner Investor’s (Canadian) Watchlist:

Our Canadian watchlist is loaded with bank stocks for safety but the financials are not doing well at this time and possibly not for another quarter or so.

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Is our beginner’s watchlist overloaded with bank stocks?

Stocks Seeing Heavy (Possibly Institutional) Buying:

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Stocks Seeing Heavy (Possibly Institutional) Selling
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Canadian Vanguard Chinese Stocks Watchlist:

Stocks within our Chinese Stocks Watchlist continue to do well. Baidu Inc.(BIDU) and Pinduoduo (PDD) continue to outperform the market today.

Popular EV, Energy and Resource Stocks at Today’s Market:

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