The Canadian Vanguard Stock Market Report At Market Close – Wednesday, October 2, 2024

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The Toronto Market

The TSX declined -32.44 points or -0.14% to close the market session at 24,001.55. The market appears to be waiting for some event to trigger its move either up or below the 24,000 level.

                                                                                                                     

In business related news, Dockworkers at the Port of Montreal began a three-day strike, freezing cargo at two of the busiest Canadian seaport terminals. In the meantime, Grain terminal workers on Canada’s West Coast returned to work over the weekend following a tentative agreement with their employer and bringing the four-day strike that halted crop exports during the busy harvest season to an end.

The Market Spread:  Today, like yesterday, was another negative market session with only three of the major sectors ending the session with gains. Yesterday’s market session was bad for Technology stocks but today Technology, up 0.55%, was the top performing sector, although in a rather dull market session. Basic Materials was up 0.35% and Discretionary Consumer Goods & Services was up 0.31%. Healthcare was down -0.22% and Financials was down -0.27%. Energy, down -0.87% and Durable Consumer Goods & Services, down -1.39%, were the laggard sectors today.

The Industry Groups:  Fishing & Farming was up 4.11%; Retail – Drugs was up 2.44%, Insurance – Multiline was up 2.13% and Chemicals – Specialty was up 1.95%.

Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers) by a ratio of 1.16-to-1.0 or about eleven Decliners for every ten Advancers. In real numbers, there were to 959 Decliners to 824 Advancers with 163 Unchanged. The total volume of shares traded at the TSX  was 310,305,528 or 11% lower than the volume of 349,786,987 shares traded yesterday.

Today, there were 114 new 52-Week Highs and 14 new 52-Week Lows. Yesterday, there were 115 new 52-Week Highs and 10 new 52-Week Lows.

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The US Markets

All three major indexes ended the market session today in green. The Dow Jones Industrial Average gained 39.55 points or 0.09%, to close the market session at 42,196.52. The S&P 500 index gained 0.79 points, or  0.01%, to close at 5,709.4. The Nasdaq Composite was up a paltry 14.76 points or 0.08%, to close the session at 17,925.12. The indexes were kind of taking a break.

The Market Spread:   Energy, up 0.88%, was the top performing sector today  just like yesterday; Technology was up 0.47% and Financials was up a miserly 0.01%.  Basic Materials was down -0.25%; Discretionary Consumer Goods & Services declined -0.47% and Durable Consumer Goods & Services declined -0.82%. There were big gains nor big declines within the sectors today. It was a relatively “quiet” market session.

The Industry Groups:   Retail – Catalog & Internet Order was up 11.11%; Investment Trusts was up 8.36%; Advertising / Marketing was up 7.66%; Coal was up 7.57% and Textiles & Leather Goods 6.63%.

Today’s Market Statistics: The declined issues (Decliners) outnumbered the gaining issues (Advancers) on the NYSE. The ratio of Decliners to Advancers was 1.18-to-1.0 or for every six Decliners there were five Advancers. In actual numbers, there were 2,146 Decliners to 1,813 Advancers with 363 Unchanged.

Today, there were 258 new 52-Week Highs and 48 new 52-Week Lows.   Yesterday, there were 327 new 52-Week Highs and 48 new 52-Week Lows. The total volume of stocks traded at the NYSE today was 947,086,270.

On the NASDAQ, the Decliners edged out the Advancers by a ratio of 1.08–to-1 or for every eleven Decliners there were ten Advancers. In actual numbers, 2,192 Decliners to 2,025 Advancers with 294 Unchanged. Today, there were 118 new 52-Week Highs and 142 new 52-Week Lows. Yesterday, there were 126 new 52-Week Highs and 152 new 52-Week Lows.

The total volume of stocks traded at the NASDAQ today was 6,156,502,049, or 3% higher than the total volume of 5,948,994,487 shares traded yesterday.

Oil Price:  Oil rises as Middle East conflict deepens. U.S. crude oil prices edged up 0.4% to $70.10 a barrel at market close. Oil price as at the time of this post, 11:33 PM ET, was $71.04 a barrel.

10 –year Treasury Yield:    The 10-year Treasury yield rose four basis points earlier today and was at 3.792% as at the time of this post, 11:33 PM ET.

 Market Roundup Report:   The current rally continues to look in good shape as the market awaits a trigger event to push the indexes upwards or even in the reverse direction. The September payroll report due Friday could play a part in that.

Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

Blended Growth Stocks Watchlist 

EV, Energy and Resource Stocks Watchlist 

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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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