The Canadian Vanguard Stock Market Report At Market Close – July 12, 2024 Weekend
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Your Data-Driven Stock Market Analysis And Report – July 12 – 14, Weekend.
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The Toronto Market
Friday, the TSX gained 129.39 points or 0.57% to close today’s market session at 22,673.52.
The market session on Friday was “all positive”, all ten sectors ended the session with gains. The market was bullish indeed. Discretionary Consumer Goods & Services (read as Retail) led the sectors with 1.24% gain. Basic Materials sectors was next, up 0.87%, Financials gained 0.76%, RBC stock (TSX: RY) which has recently been “firing on all cylinders” was on Friday up 0.81% while Bank of Montreal (TSX:BMO) was up 1.21%. Telecommunications Services gained 0.75% while Durable Consumer Goods & Services gained 0.43%. Technology was up 0.36%; Energy was up 0.18% and Healthcare gained 0.11%.
It was a good week for the TSX stocks. For the week, all the sectors gained. Basic Materials gained 4.19%; Discretionary Consumer Goods & Services gained 4.19%; Financials were up 3.29% – their best weekly performance this year. Durable Consumer Goods & Services gained 1.92%; Industrials sector was up 1.74%; Technology was up 0.44%; Energy declined 0.18% and Healthcare was up 0.11%.
In the industry groups, Retail – Apparel & Accessories gained 14.17% at Friday’s market session; Aluminum gained 6.06%; Broadcasting gained 4.09%; Leisure Products group was up 3.76% and Advertising / Marketing gained 3.21%.
Today’s Statistics: Today, the gaining issues (Advancers) totally outnumbered the declined issues (Decliners) on Friday. The ratio of Advancers to Decliners was 3.92-to-1.0 or in simple terms, roughly for every four Advancers there was one Decliner – a really bullish, positive market session. In real numbers, 1,134 Advancers to 289 Decliners with 104 Unchanged. The total volume of shares traded for gaining stocks was 189,579,203 or 68.3%, the total volume for declined stocks was 77,616,722 or 28.0% and 10,497,846 or 3.8% for “Unchanged”.
Friday, there were 332 new 52-Week Highs and 13 new 52-Week Lows, a very bullish performance.
The total volume of shares traded at the TSX today was 277,693,771 compared to 338,455,112 yesterday. The volume on Friday was 18% lower than the volume at Thursday’s market session.
The US Markets
The Dow Jones Industrial Average hit an all time high on Friday. The index was up 247.15 points or 0.62% to close the market session at 40,000.90. The S&P 500 was up 30.81 points, or 0.55%, to close at 5,615.35. The Nasdaq Composite was up 115.04 points or 0.63%, to close at 18,398.44. The Dow closed at 40,004 on May 17th but declined from there to 38,111 on May 30th and resumed the climb since then to close at 40,000.90 on Friday.
The US markets were all positive Friday, a partial rebound from the decline on Thursday. All of the major sectors at the US markets ended the session in green. Discretionary Consumer Goods & Services gained 0.97%; Basic Materials gained 0.94%; Industrials gained 0.89%; Healthcare gained 0.76% while Technology and Utilities were each up 0.73% and Durable Consumer Goods & Services was up 0.53%. Energy and Financial sectors were up 0.25% and 0.24% respectively.
The sectors this week: It is another weekend again, so we next look at how the sectors perform this week. Financials gained 4.26%; Utilities were up 3.91%; Healthcare gained 3.38%; Basic Materials was up 3.04%; Industrials gained 3.03% while Telecommunications Services was up 2.10%. Discretionary Consumer Goods & Services gained 1.40% and Durable Consumer Goods & Services gained 1.19%. Energy gained 0.46% but Technology declined -0.09%.
In the industry groups, Rails & Roads – Passengers gained 3.39%; Advertising/Marketing was up 3.21%; Retail – Specialty was up 2.67% while Paper Packaging gained 2.45% and Auto & Truck Manufacturers gained 2.44%. Two industries: Marine Transportation and Airlines that were climbing last week and earlier in the week declined -1.16% and -1.10% respectively.
Today’s Market Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners) on the NYSE. The ratio of Advancers to Decliners was 3.67-to-1.0 or in practical terms, approximately for every seven Advancers there were two Decliners. In real numbers, to 3,158 Advancers to 860 Decliners with 283 Unchanged. The total volume of shares traded for gaining stocks was 682,249,367 or 71.7%; the total volume for declined stocks was 258,303,958 or 27.2% and 10,792,409 or 1.1% for “Unchanged”.
Today, there were 651 new 52-Week Highs and 45 new 52-Week Lows. This is lopsidedly bullish. It was a session dominated by buyers. The rally is very much alive but watch out for possible pullbacks with extended Nasdaq stocks.
The total volume of stocks traded at the NYSE today was 951,345,734. Volume was down -7.97% compared to Thursday.
On the NASDAQ, the Advancers prevailed over the Decliners by a ratio of 2.53-to-1 or roughly for every five Advancers there were two Decliners. In real numbers, 3,073 Advancers to 1,212 Decliners with 267 Unchanged. The total volume of volume-gaining stocks was 4,458,549,026 or 74.7%; the total volume of declined-volume stocks was 1,455,201,698 or 24.4% and 56,497,725 or 0.9% for “Unchanged”.
On Friday, there were 334 new 52-Week Highs and 43 new 52-Week Lows. The NASDAQ is very much extended, as such there is the risk of a pullback. There was a sell off on Thursday but the NASDAQ recovered a bit of Thursday’s loss on Friday. The earnings season is here and two of the big chips companies; Taiwan Semiconductor Manufacturing (TSM) and ASML Holdings (ASML) are due to report earnings this coming week. The two stocks are worth keeping an eye on.
The total volume of stocks traded at the NASDAQ today was 5,970,248,449. The volume on Friday was down roughly -7.8% from the volume on Thursday.
Sunday Evening Futures: Dow Jones futures rose 0.2% vs. fair value. S&P 500 futures advanced 0.1% and Nasdaq 100 futures climbed 0.15%. There is a good chance that the markets might open slightly higher Monday morning. We should remember though that the market will do whatever it wishes to do regardless of what we think or say.
Stocks In The News/Stocks To Watch
The Toronto Market
The Canadian big banks had a good week. The Royal Bank of Canada on Friday gained 0.81% or $1.22 to close at $151.58 with 3.8M shares changing hands. The Bank of Montreal (TSX:BMO) also looks promising. Technically, the stock is below its 50-day moving average line but an aggressive investor could get in now – sort of tip the toe in. This is something we’ll do only because BMO is one of the Canadian six big banks – the downside risk is limited. The charts tells the stories but the fundamentals drive the performance.
Aritzia Inc (TSX:ATZ) got a series of target price analyst upgrades this past week. In Q1, the company’s growth in the U.S. saw a 7.8% increase driven in large part by store openings and increased brand awareness. Aritzia is a creator and retailer of everyday luxury items. The company operates both digital (e-Commerce) and brick and mortar stores. It is a stock worthy of keeping an eye on both in the short and long terms.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
IMPORTANT NOTICE
Readers are reminded that the market’s performance at the following day’s market session may completely differ from the market performance at the overnight markets.
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