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The main index of the Toronto Stock Exchange, the S&P/TSX Composite Index, extended gains for the second straight day and added 109 points or 0.65% to 17,019.10 on Friday. This is the consecutive weekly gain for the index, which added approximately 2.06% in the last five days.
The index is hovering in a steep bullish price zone, as the index traded well above all its support levels of 200-day, 100-day, 50-day, 30-day, 20-day, 10-day and 5-day simple moving averages (SMAs). Leading momentum indicator Moving Average Convergence Divergence (MACD) is rising and oscillating above its 9-day SMA signal line, with the difference between 12-day and 26-day EMAs is positive, another bullish technical indicator.
5-day Price Chart (as on November 20, 2020 after the market close); Source: EODHD/Others (Thomson Reuters)
At the last close, S&P/TSX Composite Index featuring a dividend yield of 3.4% and traded at a Price-to-Earnings (P/E) multiple of 19.5x.
Sector Summary*
On the main index of the Toronto Stock Exchange, almost every constituent sector traded in green. Technology, Academic & Educational Services and Basic Materials are among the top thee gainers, up 1.77%, 1.65% and 1.09%. Industrials were only the laggards on the TSX.
Sector Summary, Source: EODHD/Others (Thomson Reuters)
Stocks in Play*
Top Gainers: Aurinia Pharmaceuticals Inc (up 7.87%), BlackBerry Ltd (up 7.7%), and Lightspeed POS Inc (up 6.76%).
Top Losers: Real Matters Inc (down 15.8%), Air Canada (down 3.09%), and Parkland Corp (down 2.9%).
Volume Leaders: Bombardier Inc., Manulife Financial Corporation and Suncor Energy Inc.
On Wall Street: Stocks in the United Stated traded in red, with the broader equity gauges traded in red. The Dow Jones Industrials declined approximately 220 points or 0.75% to 29,263, the S&P 500 index traded ~ 25 points or 0.68% lower at 3,557.54, and the technology weighted the Nasdaq Composite Index traded approximately 50 points or 0.42% lower at 11,854.97, respectively.
Commodity News*
Safe-haven Yellow metal “Gold Futures” traded higher after three consecutive days of losing streaks and settled 0.44% higher at US$1,869.75/oz.
The International Crude Oil benchmark Brent Oil traded 2.06% higher at US$ 45.11/bbl and the Crude WTI traded 1.68% higher at US$ 42.44/bbl.
Forex News*
The Canadian Dollar weakened against the greenback, with currency pair USD/CAD traded 0.19% higher at 1.3096.
The U.S Dollar strengthened against the U.S greenback, with US Dollar Index traded 0.12% higher at 92.395.
* All details as on November 20, 2020, after markets close
