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The benchmark Canadian equity index traded lower after six consecutive days of surge. The index lost 79.14 points or 0.45% to settle at 17,559.86 on Wednesday. However, the index still traded above all its support levels of 5-day, 10-day, 20-day, 30-day, 50-day, 100-day and 200-day simple moving averages (SMAs). The Moving Average Convergence Divergence (MACD) is still hovering above its 9-day SMA signal line, with the difference between 12-day and 26-day EMA is positive.
At the close the index featured a dividend yield of 3.4% and traded at a Price-to-Earnings (P/E) multiple of 19.65x.
Energy, technology and materials sectors were biggest losers during Wednesday’s trading session.
Energy gave up approximately 0.40% on a reports of a massive US oil inventory buildup last week.
S&P/TSX Composite 5-day Price Chart as on December 9, 2020/ Source: EODHD/Others (Thomson Reuters)
Stocks in Play*
Top Gainers: Linamar Corp (up 4.8%), Whitecap Resources Inc (up 3.9%), and George Weston Ltd (up 3.8%)
Top Laggards: Trillium Therapeutics Inc (down 12.5%), Ballard Power Systems Inc (down 6.9%), and Aurora Cannabis Inc (down 6.9%).
Volume Leaders: Suncor Energy Inc., Air Canada, and Tamarack Valley Energy Ltd.
On Wall Street: On NYSE, the three U.S. stock markets set new highs early before moving lower in later trading hours. The Dow Jones plunged 105.07 points to 30,068.81, while the S&P 500 index lost 29.43 points at 3,672.82. The Nasdaq was down 243.82 points to 12,338.95.
Commodity News*
The February Gold contract was down US$36.40 or 1.94% at US$1,838.50/ounce.
The January Brent Oil contract closed slightly higher by 0.04% to US$ 48.86/bbl and American benchmark Crude WTI contract declined 0.18% to US$ 45.52/bbl.
Canadian Dollar increased slightly against the US Greenback on Wednesday, with currency pair CAD/USD traded 0.01% to 0.7801 vs 0.7813 on Tuesday.
*All details on December 9, 2020, after markets close
