In November 2024, the S&P/TSX exhibited a robust 6.4% monthly increase, outpacing the S&P 500’s increase of 5.9% and MSCI ACWI ex USA’s decrease of 0.9%.
The 12-month performance metrics revealed more pronounced variations: the S&P 500 led with an exceptional 33.9% growth, while the S&P/TSX and MSCI ACWI ex USA recorded 30.7% and 13.6% respectively.
The NQICAT index further substantiated the market’s resilience, registering a 3.8% monthly and impressive 32% annual performance.
Sector-level analysis for November highlighted top and bottom performers. Information Technology emerged as the top performer, advancing 21.1%, complemented by Financials with a 7.5% increase and Consumer Staples at a gain of 5.6% growth.
Conversely, the Health Care sector experienced a notable 9.2% contraction followed by Telecom at 7.0% decline.
Within the NQICAT, RB Global Inc (+17.3%), TFI International Inc. (+14.4%) and Alimentation Couche-Tard Inc (+12.8%) distinguished themselves as premier performers.
Counterbalancing this positive momentum, Stella Jone (-15%), CCL Industries Inc. (-4.4%) and Labrador Iron Ore Royalty Corp (-2.6%) represented the most significant decliners.
November Transactions in the U.S. Portfolio
Our Stockpointer U.S. model portfolio executed strategic repositioning through two transactions.
The Texas Instruments (TXN) was divested due to suboptimal SP score performance relative to sector peers, with MSCI Inc (MSCI) subsequently acquired, leveraging its superior ranking in terms of SP score.
Simultaneously, we sold Jack In The Box (JACK), due to its declining ranking, which made it no longer one of the top performers. This strategic pivot culminated in acquiring Pulte Group Inc (PHM), strategically positioned with a distinguished SP score within the Consumer Discretionary sector.
