The Canadian Vanguard Stock Market Report – October 25-27, 2024 Weekend

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Your Data-Driven Stock Market Analysis And Report –  The investor’s readiness guide for the week of October 28 market sessions.

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The Toronto Market, Friday

Today, the TSX composite index declined -87.88 points or -0.36% to close the market session at 24,463.67.

                                                                                                                       

The Market Spread: The market breadth was narrower today than yesterday as only two, Energy up 0.77% and Healthcare up 0.51%, of the major sectors ended the session with gains. Utilities was down -0.42%; Discretionary Consumer Goods & Services was down -0.43%; Basic Materials was down -0.49%; Financials was down -0.51% and Technology was down -0.80%. Telecommunications Services, down -0.88%, was the bottom performer today. The market is not doing great when only two sectors end the session with gains. Today was largely a negative market session.

For the week: Healthcare was up 3.28%; Basic Materials was up 2.94%. Financials was down -0.61%; Energy was down -1.08%; Utilities was down -1.62%; Industrials was down -1.10%; Telecommunications Services was down -1.16%; Technology was down -1.70% and Durable Consumer Goods & Services was down -1.81%. What a difference a week makes. The weekly sector performance report for last week was a total reversal of this week’s data. The market, going by the data, may be taking a break from the gains of the previous two weeks. It is also possible that the market is in the early stages of a trend reversal.  However, there is not enough data at this point to support the idea of a trend reversal in the making. Nevertheless, this was not a good week for stocks.

Industry Groups:  Auto & Truck Manufacturers, up 11.30% yesterday, was up 5.49% today. Electrical Components & Equipment up 15.82% yesterday was up 2.23% today. Pharmaceuticals – Generic & Specialty was up 2.14%; Forest & Wood Products was up 1.92% while Insurance – Multiline was up 1.80%. Textiles & Leather Goods, down -8.33%, was the bottom performing industry group today.

Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers) by a ratio of 1.10-to-1.0 or simply, there were eleven Decliners for every ten Advancers. In real numbers, there were 952 Decliners and 861 Advancers while 185 stocks remained Unchanged.

The total volume of shares traded at the TSX today was 333,743,750 or 3.4% less when compared to the volume of 345,292,395 shares traded yesterday.

Today, there were 110 new 52-Week Highs and 10 new 52-Week Lows. By comparison, there were 63 new 52-Week Highs and 16 new 52-Week Lows yesterday. On Wednesday, there were 126 new 52-Week Highs and 15 new 52-Week Lows.

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The US Markets

The markets closed mixed again today. The Dow Jones Industrial Average declined -259.96 points or -0.61%, to close the market session at 42,114.40. The S&P 500 index was down, though barely, by -1.74 points, or 0.03%, to close at 5,808.12. The Nasdaq Composite advanced 103.12 points or  0.56%, to close the session at 18,518.61. The three indexes each opened the session higher than the previous day’s closing. It was really a bullish start but from late morning declined throughout the rest of the session.  There was clearly no support for big gains today. It was a negative market session.

The Market Spread: In terms of market breadth, the market today was certainly not a top performer. Only three of the major sectors ended the market session with gains.  Technology, up 0.64%, led the sectors. Discretionary Consumer Goods & Services was up 0.40% and Energy was  up 0.27%. Industrials was down -0.34%; Basic Materials was down -0.40%; Healthcare was down -0.47%; Financials was down -1.06%; Utilities  was down -1.31% and Telecommunications Services was down -1.40%.

For the week: Discretionary Consumer Goods & Services was the only sector to end this week with a gain. Technology was down -0.10%. Energy was down -0.41%; Durable Consumer Goods & Services was down -1.15%; Utilities was down -1.54%; Financials was down -1.92%; Basic Materials was down -2.54%; Industrials was down -2.60% and Healthcare was down -2.86%. These are relatively heavy declines. It was really, a bad week for stocks especially the small caps.

Industry Groups:   Auto & Truck Manufacturers was up 2.40%. Marine Port Services was up 1.94%; Rails & Roads – Freights was up 1.66%; Appliances, Tools & Housewares was up 1.65% and Footwear was up 1.59% – Deckers Outdoor Corp (DECK) was up 10.57% today after delivering upbeat earnings report. Deckers is a member of the Footwear industry group. DECK stock is worth keeping an eye on. Tires & Rubber Products, down -4.07%, was at the bottom of the industry groups today when it comes to market performance.

Today’s Market Statistics:  At the NYSE, the declined issues (Decliners) outnumbered the gaining issues (Advancers). The ratio was 1.56-to-1.0 or roughly for every eight Decliners there were five Advancers. In actual numbers, there were 2,376 Decliners to 1,523 Advancers with 328 Unchanged.

Today, there were 180 new 52-Week Highs and 43 new 52-Week Lows. By comparison, yesterday there were 139 new 52-Week Highs and 50 new 52-Week Lows. On Wednesday there were 102 new 52-Week Highs and 59 new 52-Week Lows.

The total volume of stocks traded at the NYSE today was 1,050,282,823 or about 17% more than the total volume of 896,038,106 stocks traded yesterday.

On the NASDAQ, the Decliners outnumbered the Advancers by a ratio of 1.21-to-1.0, or for every six Decliners there were five Advancers. In actual numbers, 2,352 Decliners to 1,940 Advancers with 265 Unchanged.

Today, there were 112 new 52-Week Highs but 99 new 52-Week Lows. By comparison, yesterday there were 108 new 52-Week Highs but 115 new 52-Week Lows which is bearish and on Wednesday, there were 86 new 52-Week Highs but 116 new 52-Week Lows.

The total volume of stocks traded at the NASDAQ today was 5,911,949,976, just about the same compared to the total volume of 5,920,406,010 shares traded yesterday.

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Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

 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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