The Canadian Vanguard Stock Market Report At Market Close – June 7, 2024 Weekend
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Data Driven Stock Market Analysis And Report – June 7 – June 9, Weekend
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The Toronto Market
The TSX declined -222.10 points or -1.00% to close Friday’s market session at 22,007.00.
Two of the ten major sectors of the TSX gained today. Technology improved on the miniscule gain on Thursday to end Friday’s session with a bit higher, 0.37 gain while Durable Consumer Goods & Services gained 0.30%. Basic Materials which led the sectors with gains in two consecutive sessions earlier in the week declined heavily on Friday, down -3.80%. Healthcare declined -0.02%; Financials declined -0.43%; Utilities declined -0.45% and Energy was down -0.74%. The Market was negative, really quite bearish.
In spite of Friday’s negative market, the sectors did well for the week. Eight of the major sectors gained handsomely: Utilities was up 4.15%; Durable Consumer Goods & Services gained 3.58%; Telecommunications Services gained 3.52%; Discretionary Consumer Goods & Services gained 3.14%; Industrials gained 2.92%; Financials were up 2.21%, while Technology gained 2.19%. Energy and Basic Materials declined -1.79% and -2.87% respectively.
In the industry groups, Publishing was up 3.73%; Food Processing was up 3.27%, aluminum was up 3.13%; Semiconductors was up 2.62%, while Beverages – Distillers & Wineries gained 2.02%.
Friday’s Market’s Statistics: Friday, the declined issues (Decliners) outnumbered the gaining issues (Advancers). The ratio of Decliners to Advancers was 2.28-to-1.0 or in practical terms, roughly for every eleven Decliners there were five Advancers. In real numbers, 1,018 Decliners to 447 Advancers with 138 Unchanged. The total volume of shares traded for gaining stocks was 76,486,000 or 22.3%, the total volume for declined stocks was 260,964,492 or 76.1% and 5,315,180 or 1.6% for “Unchanged”. Today actually qualifies as a bullish market session, of course not anything near yesterday’s market performance.
Friday, there were 125 new 52-Week Highs and 10 new 52-Week Lows. On Thursday, there were 193 new 52-Week Highs and 15 new 52-Week Lows.
The total volume of shares traded at the TSX Friday was 342,765,672 compared to Thursday’s 303,213,248. The volume Friday was 13% higher than the volume on Thursday. Friday’s volume of 342,765,672 was 14% percent lower than the average of the ten most recent market sessions. The high volume drop was driven by the previous Friday’s unusually high volume due to the triple witching session on that day.
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The US Markets
All three indexes declined Friday. The Dow Industrial Average declined -87.18 points or -0.22% to close the market session at 38,798.99. The S&P 500 was down -5.97 points, or -0.11%, to close at 5,346.99. The Nasdaq Composite declined -39.88 points or -0.23%, to close at 17,133.13.
All the major sectors at the US markets declined on Friday reflecting a really negative market session. Technology led the sectors on Friday, just like the sector did on Thursday. On Friday Technology declined -0.10%. Healthcare declined -0.11%, while Industrials sector was down -0.26% and Financials declined -0.36%. Discretionary Consumer Goods & Services declined -0.58%. Energy was down -0.79%. Utilities declined -1.20%. Basic Materials brought up the rear declining -1.96%.
For the week, Financials sectors was up a portfolio friendly 22.05%; Telecommunications Services was up 4.67%; Healthcare was up 3.63%; Technology was up 1.47%; Basic Materials was down -0.61% and Energy was down -1.26%.
In the industry groups, Diversified Trading & Distributing was up 8.59%; Marine Transportation was up 3.25%; Communications Equipment gained 0.97%, while Insurance – Multiline was up 0.57% and Medical Equipment, Supplies & Distribution was up 0.47%. Members of the Marine Port Services include: Caravelle International (CACO), CBL International Ltd (BANL) and Navios Maritime Holding (NMPGY).
Friday’s Market Statistics: Today, the declined issues (Decliners) prevailed over the gaining issues (Advancers) on the NYSE. The ratio of Decliners to Advancers was 2.72-to-1.0 or in practical terms, approximately for every three Decliners there was one Advancer. In real numbers, 2,858 Decliners to 1,050 Advancers to with 278 Unchanged. The total volume of shares traded for gaining stocks was 239,257,296 or 27.0%; the total volume for declined stocks was 629,171,872 or 70.9% and 18,582,457 or 2.1% for “Unchanged”.
On Friday, there were 170 new 52-Week Highs and 97 new 52-Week Lows. Thursday, there were 260 new 52-Week Highs and 50 new 52-Week Lows. Wednesday, there were 264 new 52-Week Highs and 71 new 52-Week Lows.
The total volume of stocks traded at the NYSE Friday was 887,011,625 compared to Thursday’s 870,523,158, a 2% increase. Friday’s volume of 887,011,625 was about 7% per cent lower than the average of the ten most recent market sessions.
On the NASDAQ, the Decliners prevailed over the Advancers by a ratio of 2.67-to-1 or roughly for every thirteen Decliners there were five Advancers. In real numbers, there were 3,119 Decliners to 1,167 Advancers with 300 Unchanged. The total volume of volume-gaining stocks was 2,055,498,918 or 41.6%; the total volume of declined-volume stocks was 2,849,900,348 or 57.7% and 30,807,999 or 0.6% for “Unchanged”.
Friday, there were 76 new 52-Week Highs and 164 new 52-Week Lows. Thursday, there were 130 new 52-Week Highs and 121 new 52-Week Lows. On Wednesday, there were 134 new 52-Week Highs and 123 new 52-Week Lows.
The market literally degraded as the week progressed. The Nasdaq, of course had a good performance; culminating in a very positive market session on Thursday.
The total volume of stocks traded at the NASDAQ today was 4,936,207,265 compared to yesterday’s 5,159,922,743, a 4.4% decrease. Friday’s volume of 4,936,207,265 was five percent lower than the average of the last ten market sessions.
Stocks In The News/Stocks To Watch
The Toronto Market
The plane makers except Boeing are worth keeping an eye on. In Canada of course there is only one plane maker of note.
The US Markets
CrowdStrike Holdings is a major player in the cybersecurity field. the stock is soon to be added to the S&P 500. the stock is worth keeping an eye on.
Apple Inc (AAPL) is slowing climbing back and reclaiming lost ground in the past recent weeks. The Apple chart is looking good and the stock is looking more and likely to benefit from incorporating AI in to applications on offer. Both Apple’s technical (certainly not extended) and the fundamentals look good.
Embraer SA is a Brazilian plane manufacturer listed on the US (NYSE:ERJ) market.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks
EV, Energy and Resource Stocks Watchlist
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