The Canadian Vanguard Stock Market Report At Market Close – Tuesday, September 24, 2024
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The Toronto Market
The TSX today, was up 57.51 points or 0.24% to close the market session at 23,952.22.
The Market Spread: Six of the ten major TSX sectors ended the market session today with gains. However, it was a market session, that except for Basic Materials which was up 1.90%, had no big gains, and no big declines among the sectors – a quiet day. Discretionary Consumer Goods & Services was up 0.61%, Healthcare was up 0.31% and Energy was up 0.25%. Technology and Financials were down -0.05% and -0.08% respectively. Utilities, down -0.09% and Telecommunications Services down -0.26% were the worst two performing sectors at the session.
The Industry Groups: Auto & Truck Manufacturers was up a hefty 13.40% and Casinos & Gaming was up 7.13%. Consumer Electronics, was up 5.26% today, up 2.70% yesterday and was up 8.82% on Friday. Office Equipment was up 5.16% and Computer Hardware was up 4.10%.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners) by a ratio of 1.55-to-1.0 or for every three Advancers there were two Decliners. In real numbers, there were to 1,084 Advancers to 699 Decliners with 179 Unchanged.
The total volume of shares traded at the TSX on Friday was 422,186,608, or 2% lower than the volume of 431,263,186 shares traded yesterday.
Today, there were 250 new 52-Week Highs and 8 new 52-Week Lows. Yesterday, there were 227 new 52-Week Highs and 13 new 52-Week Lows.
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The US Markets
The Dow Jones Industrial Average was up 83.57 points or 0.20%, to close the market session at 42,208.22. The S&P 500 index gained 14.36 points, or 0.25%, to close at 5,732.93. The Nasdaq Composite was up 100.25 points or 0.56%, to close the session at 18,074.52. NASDAQ closed more convincingly above 18,000 level today. NASDAQ closed above 18,000 on Thursday, touched 18,000 briefly on August 22 but last closed above that level, at 18,008 on July 22.
The big market news today was the China monetary policy stimulus which sent a good number of Chinese company stocks climbing high at today’s market session.
The Market Spread: Six of the major sectors were up today. Basic Materials was up 2.20%; Technology was up 0.81%; Discretionary Durable Consumer Goods & Services was up 0.76%; Industrials and Telecommunications Services were up 0.32% and 0.24% respectively. Healthcare was down marginally. Financials was down -0.10% and Utilities was down -0.52%.
The Industry Groups: Mining & Metals – Specialty was up 5.64%; Aluminum was up 5.52%; Marine Port Services gained 4.59%; Coal was up 3.51% and Steel was up 3.44%.
Today’s Market Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners) on the NYSE. The ratio of Advancers to Decliners was 1.93-to-1.0 or for every two Advancers there was a Decliner. In actual numbers, there were 2,634 Advancers to 1,367 Decliners with 331 Unchanged.
Today, there were 636 new 52-Week Highs and 43 new 52-Week Lows. Yesterday, there were 505 new 52-Week Highs and 36 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 1,024,012,611 or 1% lower than the total volume of 1,015,481,998 shares traded yesterday.
On the NASDAQ, the Advancers outnumbered the Decliners by a ratio of 1.31–to-1 or for every thirteen Advancers there were ten Decliners. In actual numbers, 2,429 Advancers to 1,858 Decliners with 259 Unchanged.
Today, there were 305 new 52-Week Highs and 124 new 52-Week Lows. Yesterday, there were 210 new 52-Week Highs and 131 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 5,354,002,267, or 1% lower compared to a total volume of 5,414,218,400 shares traded yesterday.
Oil Price: U.S. crude oil prices rose earlier in the day but was at $71.38 a barrel as at the time of this post. US crude stockpiles declined.
10 –year Treasury Yield: The 10-year Treasury yield closed flat at 3.74%, reversing from intraday highs of 3.81%. The two-year Treasury yield dipped after consumer confidence faltered.
Market Roundup Report: The current market rally continues. NASDAQ was up as NVDIA, Tesla and a few other Technology big weight stocks appear ready to resume upward moves.
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Stocks In The News/Stocks To Watch
The US Markets
Nvidia (NVDA) was in the news today as the stock gained 3.97% or $4.61 to close the session at 120.87 with 354M shares changing hands. NVDA stock has regained most of the decline of the past several weeks. Reports have it that demand for AI processing chips remains high.
The China Monetary stimulus news sent the stock prices of Chinese stocks vaulting today. The issue will be how long the effect of stimulus will persist on the market. There were some notable giant price moves today. Futu Holdings Limited (FUTU) was up 11.28% or $7.59 to close at $74.88 with 5.5m shares traded.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Beginner Blended Growth Stocks Watchlist.
EV, Energy and Resource Stocks Watchlist
IMPORTANT NOTICE
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