The Canadian Vanguard Stock Market Report At Market Close – Monday, March 4, 2024

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Data Driven Market Analysis And Report For Tomorrow’s  Winning Trades

The Toronto Market

The TSX took a breather from recent session after session  upward climbs today. The index was down -21.28 points or a mere -0.10% and closed the session at 21,531.07 points.

                                                                                                                                                                        

It was a rather negative market session as only three of the ten major sectors managed to close with gains. Basic Materials was up 1.70%. It was the top performing sector today. Utilities with 0.10% gain and Financials up 0.03% were the other two sectors to end today’s market session with gains. Industrials sector was down -0.01%; Technology was down -0.65%; Energy was down -0.78% and Healthcare was the worst performing sector with -1.64% decline.

Textile & Leather Goods, up 7.69%, was the top performing industry. Aluminum was up 5.56%; Insurance – Multiline gained 4.24%; Electrical Components & Equipment gained 3.62% and Computer Hardware was up 3.55% at today’s market session.

Today’s Statistics: Today, the gaining issues (advancers) barely outnumbered the declined issues (decliners). The ratio of advancers to decliners was 1.0-to-1.0 or in practical terms, for every advancer there was one decliner. In real numbers, 745 advancers to 737 decliners with 128 Unchanged. The total volume of shares traded for gaining stocks was 189,085,722 or 52.0%; the total volume for declined stocks was 163,886,890 or 45.1% and 10,397,894 or 2.9% for “Unchanged”.

There were 325 new 52-Week Highs and 15 new 52-Week Lows.

The total volume of stocks traded at the TSX today was 363,370,506 compared to 629,501,764 on Friday, a forty two percent decrease. Today’s volume of 363,370,506 was two percent higher than the average of the ten most recent market sessions.

The US Markets

All three US indexes ended the market session in red. The Dow Jones Industrial Average was down -97.55 points, or -0.25%, to close at 38,989.83. The S&P 500 declined -6.13 points, or -0.12%, to close at 5,130.95. The Nasdaq Composite was down -67.43 points or -0.41%, to close at 16,207.51.

The markets blinked today but that is all there was;  blink but no major declines. The rally remains very much alive. However, we should not expect the market to continue to rise day after day. Nothing keeps going up and up for ever. Volume was up slightly on the NYSE and up five percent on the NASDAQ.

The indexes were down but six of the major sectors gained at the close of the market session. Utilities ended the session with 1.52% gain; Basic Materials gained 0.61%; Financials was up 0.48% while Industrials gained 0.12% and Healthcare gained 0.02%. Technology declined -0.23%; Energy was down -0.95% and Durable Consumer Goods & Services declined -1.19%.

Diversified Trading & Distributing was the top performing industry with 4.55% gain; Precious Metals & Minerals was up 4.19%; Computer Hardware was up 2.85% and Semiconductors was up 2.09% while Retail – Department stores gained 1.74%.

Today’s Market Statistics: Today, the declined issues (decliners) outnumbered the gaining issues (advancers) on the NYSE by a ratio of 1.20-to-1 or there were roughly six decliners for every five advancers. In real numbers, there were 2,197 decliners to 1,834 advancers and 280 “Unchanged”. The total volume of volume-gaining stocks was 541,425,704 or 48.6%; the total volume of declined-volume stocks was 563,094,293 or 50.6%; and 9,182,627 or 0.8% “Unchanged”.

There were 680 new 52-Week Highs and 71 new 52-Week Lows. Today’s market, in this respect, couldn’t be more bullish.

The total volume of stocks traded at the NYSE today was 1,113,702,624 compared with 1,102,844,386 on Friday, quite a significant decline. Today’s volume of 1,113,702,624 is slightly higher than the average of the ten most recent market sessions.

On the NASDAQ, the decliners outnumbered the advancers today by a ratio of 1.47-to-1 or roughly for every three decliners there were two advancers. In real numbers, there were 2,593 decliners to 1,764 advancers with 319 unchanged. The current rally remains alive. The total volume of volume-gaining stocks was 2,368,348,517 or 40.0%; the total volume of declined-volume stocks was 3,498,970,826 or 59.2% and 46,177,748 or 0.8% for “Unchanged”.

There were 377 new 52-Week Highs and 114 new 52-Week Lows. The current rally remains very much alive.

The total volume of stocks traded at the NASDAQ today was 5,913,497,091 compared to 5,568,333,176 on Friday, a six percent increase. Today’s volume of 5,913,497,091 is three percent higher than the average of the last ten market sessions.

Oil Price:  Oil prices continue to hold near recent highs, as West Texas intermediate settled below $79 a barrel.

10 –year Treasury Yield:  The 10-year U.S. Treasury yield rose to 4.21%.

The market outlook remains confirmed uptrend.

Regular Market Day Features

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The Canadian Vanguard Chinese Stocks Watchlist 

EV, Energy and Resource Stocks Watchlist   

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