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The main index of the Toronto Stock Exchange, TSX Composite, went up for the third consecutive day and added 59.59 points or 0.37% to 15,998.74 on Wednesday. At the closing, S&P/TSX Composite Index featured a dividend yield of 3.65% and traded at a Price-to-Earnings (PE) multiple of 19.03x.
TSX Composite traded above its immediate support levels of 5-day, 10-day Simple Moving Averages (SMAs), but still hovering below its crucial short-term support level of 50-day SMA. However, it traded above its crucial long-term support levels of 200-day SMA.
5-day Price Chart (as on November 04, 2020, after the market close)/ Source: EODHD/Others (Thomson Reuters)
Leading the index, technology sector surged 3.64% followed by real estate, up 1.32%, and financials, up 0.84%, respectively. On the other side, healthcare stocks dragged the index lower, dropping 2.08% followed by 1.92% fall in basic materials.
TSX Sector Summary. Source: EODHD/Others (Thomson Reuters)
Stocks in Play*
Best Performers: Finning International Inc (up 11.62%), Intact Financial Corp (up 6.33%), ATS Automation Tooling Systems Inc (up 10.01%).
Worst Performers: Aurora Cannabis Inc (down 9.35%), Cronos Group Inc (down 8.69%), and Canopy Growth Corp (down 7.28%).
Volume Leaders: Enbridge Inc., Suncor Energy Inc. and Manulife Financial Corporation.
On Wall Street: Bulls trumped bears on Wall Street jumps as investors geared up results of the US elections. The Dow Jones Industrials surged 367.63% or 1.34% o 27,847.66, the S&P 500 index moved 74.28 points or 2.2% to 3,443.44, and technology-dominated Nasdaq Composite bagged 430 points or 3.85% to 11,590.78.
Commodity News*
Yellow metals pared losses of the past trading session, with Gold Futures for December expiry traded 0.85% higher at $ 1,912.30/oz and reclaimed its $1,900/oz level. Gold is up approximately 26% on a YoY basis.
Crude oil prices extended higher in the Wednesday trading hours with International Crude Oil benchmark Brent Oil surged 3.83% to $41.23/bbl. The American Oil benchmark WTI Crude gained 3.96% to $39.15/bbl.
Forex*
U.S Dollar appreciated against Canadian Dollar on Wednesday, with USD/CAD settled 0.07% higher at 1.3139 vs 1.3130 on the last trading session.
U.S Dollar lost some ground against the basket of majors in the Wednesday trading hours, with Dollar index declined 0.16% to 93.411.
Bond Yield*
Canadian 10-Year Government Bond Yield slumped 11.43% over previous closing level to 0.612%.
U.S 10-Year Treasury Bond Yield plummeted 13.91% to 0.771% in the Wednesday trading hours.
* Details as on November 04, 2020, after market close
