The Canadian Vanguard Stock Market Report At Market Close – June 10, 2024

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Data Driven Stock Market Analysis And Report

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The Toronto Market

The TSX advanced 62.76 points or 0.29% to close today’s market session at 22,069.76. The index corrected for the damage done on Friday but that effort was a bit short.

                                                                                                                                 

Six of the ten major sectors of the TSX gained today. Technology had a second consecutive session of gain advancing 1.4% today adding to the 0.35% gain on Friday. Basic Materials advanced 1.11%; Healthcare advanced 0.76%; Energy advanced 0.53%;  Industrials gained 0.50%, while Financials sector was up a mere 0.07%. Utilities declined -0.19% while Telecommunications Services declined a sizable 1.75%.

In the industry groups, Air freight & Courier Services was up 3.85%; Electrical Components & Equipment gained 3.75%; Oil & Gas Drilling was up 3.48%; Personal services was up 2.89% and Biotechnology was up 2.23%.

Today’s Statistics: Today the gaining issues (Advancers) managed to edge out declined issues (Decliners). The ratio of Advancers to Decliners was 1.51-to-1.0 or in practical terms, roughly for every three Advancers there were two Decliners. In real numbers, 851 Advancers to 562 Decliners with 105 Unchanged. The total volume of shares traded for gaining stocks was 203,291,539 or 62.6%, the total volume for declined stocks was 113,852,067 or 35.0% and 7,813,496 or 2.4% for “Unchanged”. The market today attempted a reversal of Friday’s session but that effort fell a bit short.

Today, there were 96 new 52-Week Highs and 10 new 52-Week Lows. Friday, there were 125 new 52-Week Highs and 10 new 52-Week Lows.

The total volume of shares traded at the TSX today was 324,957,102 compared to Friday’s 342,765,672. The volume today was 5% lower than the volume on Friday and ten per cent lower than the average of the ten most recent market sessions.

The US Markets

The indexes bounced back today. The Dow Industrial Average advanced 69.05 points or 0.18% to close the market session at 38,868.04. The S&P 500 was up 13.80 points, or 0.26%, to close at 5,360.79. The Nasdaq Composite gained 59.40 points or 0.35%, to close at 17,192.53.

It was quite a positive market session at the US markets as eight of the major sectors advanced today. Utilities gained 1.18%; Energy advanced 1.13%; Technology was up 0.44%; Discretionary Consumer Goods & Services advanced 0.42% and Healthcare gained 0.31%, while Industrials sector was up 0.29%. Basic Materials was up 0.27% and Financials edged up 0.025.

In the industry groups, Oil & Gas Drilling had a good session, up 5.34%; Semiconductor Equipment & Testing gained 2.26% while Advertising / Marketing gained 2.02%; Office Equipment gained  1.84% and Airport Services was up 1.66%.

Today’s Market Statistics: Today, the gaining issues (Advancers) edged out the declined issues (Decliners) on the NYSE. The ratio of Advancers to Decliners was 1.05-to-1.0 or in practical terms, approximately for each Advancer there was a Decliner. In real numbers, 2,025 Advancers to 1,916 Decliners with 281 Unchanged. The total volume of shares traded for gaining stocks was 487,499,380 or 52.3%; the total volume for declined stocks was 431,840,194 or 46.3% and 12,550,128 or 1.3% for “Unchanged”.

Today, there were 127 new 52-Week Highs and 81 new 52-Week Lows. On Friday, there were 170 new 52-Week Highs and 97 new 52-Week Lows.  The market tried to reverse Friday’s negative performance today as some of the beaten down stocks advanced. The rally continues.

The total volume of stocks traded at the NYSE today was 931,889,702 compared to Friday’s 887,011,625, a 5% increase. Today’s volume of 931,889,702 was about one per cent lower than the average of the ten most recent market sessions.

On the NASDAQ, the Advancers prevailed over the Decliners by a ratio of 1.03-to-1 or roughly for every Advancer there was a Decliner. In real numbers, there were 2,174 Advancers to 2,110 Decliners with 307 Unchanged.  The total volume of volume-gaining stocks was 3,397,655,173 or 62.9%; the total volume of declined-volume stocks was 1,902,150,359 or 35.2% and 99,548,355 or 1.8% for “Unchanged”.

Today, there were 100 new 52-Week Highs and 173 new 52-Week Lows. On Friday, there were 76 new 52-Week Highs and 164 new 52-Week Lows.

The total volume of stocks traded at the NASDAQ today was 5,399,353,887 compared to Friday’s 4,936,207,265, a 9% increase and four percent higher than the average of the last ten market sessions.

10 –year Treasury Yield:   The 10-year Treasury yield was up today,  at 4.449% as investors consider inflation data and what the Feds would conclude Wednesday during the meeting starting tomorrow.

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Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

The Financials sector, especially the big banks have yet to figure out  how to deal with the changes expected  with the interest rate profile in the next few quarters.

The Canadian Vanguard Chinese Stocks Watchlist

FUTU Holdings and PDD Holdings remain stocks to keep an eye on.

EV, Energy and Resource Stocks Watchlist

IMPORTANT NOTICE

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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