The Canadian Vanguard Stock Market Report At Market Close – Thursday, October 10, 2024
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The Toronto Market
The TSX composite index was up 77.36 points or 0.32% to close the market session at 24,302.26 making it three consecutive sessions of gains. The total volume of shares traded was down today compared to yesterday.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners) by a ratio of 1.11-to-1.0 or simply, there was one Advancer for every Decliner today or if we wish to be dead-on accurate, eleven Advancers to ten Decliners. In real numbers, there were 951 Advancers to 855 Decliners while 146 stocks remained Unchanged.
The total volume of shares traded at the TSX today was 364,108,377 or 2% lower than the volume of 371,970,716 shares traded yesterday.
Today, there were 271 new 52-Week Highs and 14 new 52-Week Lows. For comparison yesterday, there were 259 new 52-Week Highs and 10 new 52-Week Lows. There is no significant change there.
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The US Markets
Today, the Dow Jones Industrial Average declined -57.88 points or -0.14%, to close the market session at 42,454.12. The S&P 500 index was down -11.99 points, or -0.21%, to close at 5,780.05. The Nasdaq Composite was down -9.57 points or -0.05%, to close the session at 18,282.05. The three indexes were down today but rather marginally.
Today’s Market Statistics: At the NYSE, there was a reversal, the declined issues (Decliners) outnumbered the gaining issues (Advancers) by a ratio of 1.40-to-1.0 or roughly for every seven Decliners there were five Advancers. In actual numbers, there were 2,246 Decliners to 1,612 Advancers with 336 Unchanged.
There were 185 new 52-Week Highs and 55 new 52-Week Lows. Yesterday, there were 173 new 52-Week Highs and 48 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 835,771,678 or 6% lower than a total volume of 883,936,054 stocks traded yesterday.
On the NASDAQ, there was also a reversal, the Decliners prevailed over the Advancers by a ratio of 1.58–to-1 or roughly for every eight Decliners there were five Advancers. In actual numbers, 2,615 Decliners to 1,655 Advancers with 304 Unchanged.
There were 106 new 52-Week Highs but177 new 52-Week Lows. Yesterday, there were 189 new 52-Week Highs and 150 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 6,005,179,323, a 12% increase compared to the total volume of 5,355,182,095 shares traded yesterday.
Oil Price: Oil price rose earlier in the day but eased off, however, the uncertainty resulting from possible escalations in the conflicts in the Middle East lingers. Oil price was at $75.59 as at the time (11pm EST) of this post.
10 –year Treasury Yield: The 10-year Treasury yield fell to 4.06% earlier in the day but was up at 4.073% as at the time of this post. The US 10-year Treasury yield closed yesterday at 4.063%.
Market Roundup Report: The NASDAQ was down 0.05%, pretty marginal but there was a noteworthy reversal in the number of declining stocks compared to the stocks which advanced – Advancers. The current market rally remains in excellent shape but may start to experience abrupt trend reversals at least until the Feds November meeting.
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Stocks In The News / Stocks To Watch
The Toronto Market
The TSX appears to be on a roll. The market, of course, will always do whatever it wishes to do. On Monday, October 7, we featured Canadian Natural Resources Ltd (TSX:CNQ) the stock has continued building the right side of that cup.
Manulife Financial Corp (MFC) has been slowly but steadily on the up climb since early August. MFC stock was up today 1.30% or $0.53 to close at $41.38 with 6.2M shares traded. The stock also pays quarterly dividends with a current dividend yield of 3.87%.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Beginner Investor’s Blended Growth Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
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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