The Canadian Vanguard Stock Market Report – Weekend, November 28 – 30, 2025 Edition
Equities Extend Gains, Finishing the Shortened Week Higher
. The Stock Market Report is updated regularly during the weekend
The Toronto Market – Friday, November 28, 2025
The S&P/TSX Composite Index rose 186.07 points (+0.60%) to close at 31,382.78, marking its sixth consecutive day of gains—a notably strong streak for the market. Today’s point increase was ten times larger than yesterday’s advance. Resource and precious-metal stocks dominated Friday’s top performers, contributing significantly to the index’s momentum.
Toronto Market Statistics
Advancing issues on the TSX outpaced decliners by roughly two to one, with 1,383 advancers versus 661 decliners, yielding an advancer-to-decliner ratio of 2.09:1. An additional 121 issues were unchanged. This breadth reading indicates broad-based participation in the day’s gains.
Market momentum was further reflected in the number of new 52-week extremes: 228 new highs and 20 new lows, up from 184 highs and 12 lows recorded the previous session. The expansion in new highs suggests strengthening upward pressure across sectors rather than isolated leadership.
Total trading volume reached 387,462,754 shares. While this figure appears sharply higher relative to the 157,176,996 shares traded on Thursday, Friday’s comparison is distorted by U.S. market conditions. The U.S. exchanges were closed Thursday for Thanksgiving, and on Friday trading closed at 1pm, three hours early. As a result, volume patterns on both days deviate from typical full-session behavior and should be interpreted cautiously when assessing liquidity or confirming trend strength.
Toronto Market Wrap-Up Report
The S&P/TSX Composite Index advanced 186.07 points (+0.60%) to 31,382.78, marking its sixth consecutive gain and reinforcing the market’s strengthening upward momentum. Notably, today’s point increase was roughly ten times that of the prior session, underscoring a shift from marginal advances to more decisive buying interest.
Sector Performance and Market Breadth
Friday’s performance was heavily skewed toward miners and energy producers. Only six of the TSX’s ten sectors posted gains, with market leadership clearly concentrated in resource-oriented equities—including gold and silver miners—which dominated the list of top performers. This pattern indicates that sector-specific drivers such as firming commodity prices and rotation into defensives played a key role in the day’s activity.
Basic Materials was the strongest sector on Friday, rising 2.11%, followed by Energy at +0.72%. Technology and Retail stocks underperformed, finishing at the bottom of the sector rankings.
Weekly Performance Overview
For the week as a whole, the TSX delivered broad-based strength. With the lone exception of Durable Consumer Goods & Services—which slipped by a negligible -0.10%—all sectors ended higher. Basic Materials led with a substantial +12.11% weekly gain. Technology, despite a weaker close on Friday, followed with a robust +5.38% for the week. Industrials and Financials also contributed meaningfully to the market’s strong weekly advance. Overall, the week represented one of the broadest and most constructive periods for the TSX in recent sessions.
Impact of U.S. Holiday Trading on Volume
Trading volume on the TSX was lower than typical levels. The U.S. equity markets observed Thanksgiving on Thursday and held only a shortened three-hour session on Friday. These disruptions moderated cross-market trading flows and contributed to unusually light participation on the TSX. As a result, today’s volume statistics should be interpreted cautiously, as they do not reflect a standard full-session liquidity environment.
Notable Equity Movers (Volume > 25,000)
Several high-volume names delivered standout performance and may warrant inclusion on watchlists:
- Pan American Silver Corp. (TSX: PAAS) — up 6.70% or $3.98, with 1.03M shares traded
- Kinross Gold Corporation (TSX: K) — up 2.69% or $1.03, with 4M shares traded
- Goeasy Ltd. (TSX: GSY) — up 2.93% or $3.91, on 98.5K shares
- First Majestic Silver Corp. (TSX: AG) — up 11.35% or $2.15, with 2.4M shares traded
- Wheaton Precious Metals Corp. (TSX: WPM) — up 2.70% or $4.04, with 784K shares traded
The outsized gains among precious-metal producers are consistent with the day’s sector-driven advance and broader investor focus on resource and defensive assets.
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The US Markets – Friday, November 28, 2025
The Dow Jones Industrial Average added 289 points, finishing at 47,716.42, while the S&P 500 advanced 36 points to close at 6,849.09. The Nasdaq Composite also participated in the broad move higher, rising 151 points to end at 23,365.69. Across these benchmarks, gains were orderly, suggesting a market that is rising not on short bursts of momentum, but on sustained buying interest.
Among the major indexes, the Russell 2000 continued to stand out. The small-cap benchmark climbed another 14.32 points to 2,500.43, extending its own steady rally and closing at the session’s high. Its ongoing strength points to improving sentiment around domestically focused companies, often viewed as a barometer for the underlying health of the U.S. economy.
Overall, Friday’s session rounded out a week marked by resilience and broad participation, with the major indexes continuing to climb even in the absence of significant volatility.
Friday’s U.S. Market Statistics –Market breadth continued to lean firmly positive across U.S. exchanges on Friday, even as volumes pulled back due to the shortened holiday session.
New York Stock Exchange (NYSE)
On the NYSE, advancing issues once again outpaced decliners by a wide margin. Roughly two stocks rose for every one that fell, with 2,774 advancers versus 1,238 decliners, and 356 issues finishing unchanged. This produced an advancer-to-decliner ratio of 2.24 to 1, reinforcing the strong underlying tone that has characterized the week.
The number of new 52-week highs came in at 237, slightly lower than yesterday’s 290, while new lows eased modestly to 27 from 29. Despite the pullback, the overall distribution still points to ongoing positive momentum across large-cap names.
NYSE volume totaled 2.60 billion shares, a steep decline from Thursday’s 4.55 billion. The reduction was expected, however, given the lighter participation typical of the post-Thanksgiving half-day session.
NASDAQ
Breadth on the NASDAQ also skewed positive, with 3,039 advancers against 1,626 decliners, yielding an advancer-to-decliner ratio of 1.87 to 1. Another 326 issues ended the day unchanged. Although slightly narrower than the NYSE’s breadth, the ratio still reflects solid participation across the tech-heavy exchange.
The NASDAQ posted 173 new 52-week highs and 48 new lows, down from yesterday’s readings of 242 and 63, respectively. The retreat in new highs is consistent with the shortened session but does not materially detract from the week’s constructive trend.
Trading volume reached 4.64 billion shares, down 38% from Thursday’s 7.50 billion. As with the NYSE, the early 1 p.m. close for the holiday-shortened session explains the decline and limits the interpretive value of volume-based analysis.
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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 November 30, 2025
