The Canadian Vanguard Stock Market Report – Weekend, Sept 19 – 21, 2025 Edition
Gold price, NASDAQ and S&P 500 are at Record Highs
. (The Stock Market Report is updated regularly during the weekend)
The Toronto Market
The TSX Composite Index gained 314.83 points, or 1.07%, closing the session at 29,768.36. The index rocketed higher on Friday, thanks to gold, gold miner and other miner stocks. Basic Materials sector was up a hefty 3.81% on Friday.
Today’s Market Statistics: The issues that gained (Advancers) outnumbered those that declined (Decliners). There was roughly one Advancer for every Decliner, or a more exact ratio of 1.28-to-1.0. In real numbers, there were 1,095 Advancers to 855 Decliners while 158 stocks remained Unchanged.
Today, there were 449 new 52-Week Highs and 287 new 52-Week Lows. There were 367 new 52-Week Highs and 27 new 52-Week Lows yesterday.
The total volume of shares traded at the TSX today was 1,083,439,988, or 184% higher than the volume of 381,157,786 shares traded yesterday.
Market Roundup Report
Gold and Miners Surge Despite Being Extended
Gold and several gold mining stocks appeared technically extended, yet they surged even higher on Friday. This is a reminder that the market is always full of surprises. Every trading session reflects the decisions of millions of investors—both institutional and retail—each acting based on their unique strategies, information, and emotions at a given moment.
Because of this complexity, market action often appears random, and surprise plays a significant role in market behavior. The market will always do what it wants—regardless of what seems logical or probable.
There are times when buying a stock that looks extended can still be the right move. However, there are important rules and guidelines to help manage such trades profitably. If you are new to investing—especially with less than four years of experience—it’s generally best to avoid chasing extended stocks. Risk management remains the cornerstone of long-term success in stock market investing.
As of Thursday’s close, the TSX Composite Index was trading approximately 7% above its 10-week exponential moving average (EMA), signaling a short-term overbought condition. Nevertheless, gold and gold mining stocks posted solid gains on Friday, with the Basic Materials sector emerging as the top-performing group on the TSX.
Gold tends to perform well in uncertain political environments, and historical trends suggest it favors times when President Trump is in the headlines.
If you’re interested in the gold and gold mining space, here are four stocks worth keeping on your watchlist:
- Agnico Eagle Mines (TSX:AEM)
- Franco-Nevada Corp (TSX:FNV)
- Wheaton Precious Metals Corp (TSX:WPM)
- AngloGold Ashanti Plc (NYSE:AU)
In the chart above, AEM stock breaks out with good volume after consolidation. Below, in a table format, are the performance data for the four stocks on Friday.
|
Ticker |
Gain on Friday
%
|
Price at
Market Close on Friday |
Volume of
Shares Traded on Friday |
Price at
Market Close on June 27 |
| AEM | 4.28% | $222.13 | 3.4M | $159.08 |
| FNV | 5.62% | $294.95 | 1.4M | $221.05 |
| WPM | 2.75% | $148.53 | 3.0M | $119.70 |
| AU (NYSE) | 4.98% | US$67.82 | 5.3M | $43.88 |
AEM, FNV and WPM stocks are also listed in US exchanges, but the data listed in the table above are for TSX stocks only, and the dollar symbol, except in the last row, implies Canadian dollar. June 27 is three months less one week, or roughly three months ago.
There are other gold miner stocks doing well, but we leave further research to our readers. Readers also have the option to register to attend our related workshop/training sessions. We only consider stocks priced at $25.00 or higher and stocks with an average daily volume of shares traded greater than 100K in this publication.
Gold price has been “golden” this year. It is 1979 again
Back in 1979, President Jimmy Carter was navigating a challenging period in the White House, marked by significant tensions with Iran. That year, gold prices reached $1,000 for the first time and continued to rise steadily. President Carter faced problems not of his making but had to manage nonetheless.
Fast forward to 2025, and gold prices have been on an upward trajectory since the beginning of the year. While some pauses are inevitable, the overall trend suggests further gains. Historically, gold tends to perform well during times of economic uncertainty and tends to rise when the US dollar weakens against other major currencies.
With this in mind, a prudent approach for investors might be to consider purchasing shares of leading gold mining companies during market pullbacks as the year progresses.
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The US Markets
Dow Industrial Average gained 172.85 points or 0.37%, to close the session at 46,315.27. The S&P 500 index gained 32.40 points or 0.49% and closed the session at 6,664.36. The Nasdaq Composite gained 160.75 points or 0.72%, and closed the session at 22,631.48. Small caps were down today. Russell 2000 declined -18.93 points or -0.77%, and closed the session at 2448.77.
Triple Witching Day
Friday was a Triple Witching Day. The volume of shares is normally unusually high on such days. The volume of shares traded on Friday at each US exchange is best ignored for the usual daily stock market analysis. Failure to ignore such volume figures or adequately account for the effect of “Triple Witching Day” will lead to distorted analysis. Readers are reminded that Computers do NOT make mistakes. Computers only execute as instructed; it is often the operators or the analysts who fail to note or account for the special circumstance. Friday’s data, as shown in the Today’s Market Statistics section below, is correct, but for regular daily stock Market Statistical analysis, the result will be distorted.
Today’s Market Statistics: At the NYSE, the issues that declined (Decliners) outnumbered the issues that gained (Advancers). There were roughly three Decliners for every two Advancers, or a more exact ratio of 1.43-to-1.0. In actual numbers, there were 2,481 Decliners to 1,738 Advancers with 351 Unchanged.
Today, there were 604 new 52-Week Highs and 71 new 52-Week Lows. There were 524 new 52-Week Highs and 65 new 52-Week Lows yesterday.
The total volume of stocks traded today at the NYSE was 9,462,292,419, or 76% higher than the total volume of 5,370,254,113 shares traded yesterday.
On the NASDAQ, the Decliners outnumbered the Advancers. There were roughly three Decliners for every two Advancers, or an exact ratio of 1.41-to-1.0. In actual numbers, there were 2,735 Decliners to 1,935 Advancers with 273 Unchanged.
Today, there were 382 new 52-Week Highs and 82 new 52-Week Lows. There were 432 new 52-Week Highs and 68 new 52-Week Lows on Friday.
The total volume of shares traded at the NASDAQ today was 15,102,789,473, or 39% higher than the total volume of 10,885,947,615 shares traded on Friday.
Market Roundup Report
Dow Jones Industrial Average, NASDAQ and the other major indexes rose on President Trump’s announcement of a deal with China on TikTok. Russell 2000 declined on Friday but gained for the week.
Six of the eleven sectors gained. Utilities, up 1.08%, was the top performing sector. Basic Materials gained 1.07%, Technology was up 0.81% and Financials gained 0.09%. Energy was the worst performer. Energy was down -1.38%.
Marine Port Services, up 14.21% was the top industry performer at the market session. Precious Metals & Minerals, up 5.20% was next, and Communications Equipment, up 2.66%, was third.
Oil Price: U.S. crude oil futures fell 1 per cent to $62.68 a barrel last week.
10 –year Treasury Yield: The 10-year Treasury yield advanced to 4.14% earlier in the day on Friday
After-hours action: Stock Futures are mainly down but slightly on Sunday evening. Dow Futures is down -43.00 points or -0.09% vs. fair value. S&P 500 futures is down -3.50 points or 0.06%, and Nasdaq 100 futures is up -2.50 points or -0.01% as of the time (11:30 pm ET, Sunday) of this post update.
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NOTICE TO READERS
Our readers are strongly advised to conduct their research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation. Any recommendation is not a guarantee of any particular stock’s future prices, and The Canadian Vanguard accepts no responsibility or liability for investors’ or readers’ purchases.
The Canadian Vanguard’s Stock Market Reports, https://www.thecanadianvanguard.com/category/stock-markets/ are composed by senior Financial Industry and Information Technology professionals. We deliberately neither engage nor deploy AI tools to produce data for these reports.
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(c) This article is published by The Canadian Vanguard on September 20, 2025.
