The Canadian Vanguard Stock Market Report At Market Close – Monday, March 3, 2025
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The Toronto Market
The TSX composite index declined a hefty -391.88 points or -1.54% to close the session at 25,001.57. All the major North American market indexes suffered major declines today. The recovery attempt that started on Friday did not extend to today’s market session.
The Market Breadth: The Toronto market, reflecting the market’s choppiness, reversed Friday’s positive performance, which was a reversal of Thursday’s bearish session, to end the session today very bearishly. Only two sectors gained at today’s market session. Telecommunications Services was up 1.00%; and Utilities gained 0.52%, as investors looked for safety. It was a day of heavy declines. Financials was down -0.80%; Discretionary Consumer Goods & Services was down -0.80%; Durable Consumer Goods & Services declined -1.18%; Healthcare was down -1.41%; Basic Materials was down -1.67%; Energy was down -2.86%; and Technology was the laggard, declining a hefty -3.18%.
Industry Groups: The top five industry groups at the US markets today were: Coal up 3.46%; Environmental Services up 1.66%; Personal Products up 1.51%; Retail – Apparel & Accessories was up 1.22%; and Retail – Specialty gained 1.19%.
Today’s Statistics: The issues that declined (Decliners) outnumbered those that gained (Advancers). There were roughly eight Decliners for every five Advancers, or a more exact ratio of 1.60-to-1.0. In real numbers, there were 1,231 Decliners to 772 Advancers while 136 stocks remained Unchanged.
Today, there were 229 new 52-Week Highs and 87 new 52-Week Lows.
The total volume of shares traded at the TSX today was 614,922,412 or about 2.5% less compared to the volume of 629,593,132 shares traded on Friday.
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The US Markets
The Dow Jones Average index declined -649.67 points or -1.48% to close at 43,191.24. The S&P 500 index declined -104.78 points or -1.76%. The Nasdaq Composite dove -497.09 points or -2.64%, to close at 18,350.19. All three indexes reversed Friday’s recovery gains and then some more. It is terrible when an index comprising hundreds of stocks declines more than 2% during a market session. Billions of dollars in stocks capitalization were wiped out at the market session today. The market session sent a clear message that the current market choppiness is still very much alive.
The Market Breadth: The US markets went into downdrafts today. Only two sectors ended the session with gains: Telecommunications Services was up 1.00%, and Durable Consumer Goods & Services was up 0.49%. Investors moved to safe sectors as the selling intensified today. Healthcare declined -0.10%; Utilities declined -0.32%, and Financials declined -0.79%. All the other sectors declined by more than -1%. Technology and Energy sectors were the laggards today, declining -2.81% and -3.01% respectively.
Industry Groups: The top five industry groups at the US markets today were: Utilities – Water & Others up 2.38%; Tobacco up 2.22%; Forest & Wood Products gained 2.07%; Pharmaceuticals – Generic & Specialty up 1.48%; and Beverages – Non-Alcoholic gained 1.29%.
Today’s Market Statistics: At the NYSE, the issues that declined (Decliners) outnumbered the issues that gained (Advancers). There were roughly two Decliners for every Advancer, or an exact ratio of 1.91-to-1.0. In actual numbers, there were 2,792 Decliners to 1,462 Advancers with 338 Unchanged.
There were 195 new 52-Week Highs and 316 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 5,703,680,321 or 14% less, compared to the volume of 6,645,287,115 shares traded on Friday.
On the NASDAQ, the Decliners totally outnumbered the Advancers. There were seven Decliners for every two Advancers, or an exact ratio of 3.49-to-1.0. In actual numbers, 3,481 Decliners to 997 Advancers with 194 Unchanged.
Today, there were 56 new 52-Week Highs and 511 new 52-Week Lows. The market today was lopsidedly bearish. The bulls were nowhere to be found.
The total volume of shares traded at the NASDAQ was 8,388,408,642, or 1.5% less, compared to the volume of 8,516,090,363 shares traded on Friday.
Oil Price: U.S. crude oil price dropped on worries about tariffs and possible trade war. Oil price was at $68.00 a barrel as of the time (11:30pm EST) of the last post update today.
10 –year Treasury Yield: The 10-year Treasury yield was down as low as 4.176% this afternoon. The 10-year yield was at 4.157% as of the time (11:30pm EST) of this post update.
After-hours action: Stock futures were up slightly this evening. The Dow futures was up 0.11% vs. fair value. S&P 500 futures was up 0.18%, and Nasdaq 100 futures was up 0.32% as of the time (11:30pm EST) of this post update.
Market Roundup Report: The markets started the session higher but then collapsed from around midday and declined from then until market close. There was no support for any upward move from midday. There appears to be some rotation out of technology. One has to search hard to find any good news about the market today. The NASDAQ composite declined more than two and a half per cent today. The total volume of shares traded in that market was one and a half percent less than the volume on Friday. It is not good news, but not exactly bad news as it did not convey signs of panic selling. The total volume of shares traded at the NYSE was lower by fourteen percent compared to Friday. The markets remain choppy, so making money consistently will be more difficult. In addition, the news this evening was all about tariffs involving China, US, Canada and Mexico. The choppiness may not abate soon. It may be time to consider moving to cash – preserve capital. The market downtrend will surely reverse at some point, so there will always be the opportunity to make money consistently. It is never a good idea to let profits evaporate.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Blended Growth Stocks Watchlist
Technology stocks suffered major declines today. Nvidia Corp declined 8.7% today triggering our 8% decline sell rule.
EV, Energy and Resource Stocks Watchlist
Today, the stocks in our watchlist ended the session in red. Tesla gave up all the gains recorded on Friday, bringing to an end the idea that Friday was the beginning of a recovery for the stock. The Chinese EV manufacturers suffered even worse declines.
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