The Canadian Vanguard Stock Market Report At Market Close – June 14, 2024 Weekend
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Your Data Driven Stock Market Analysis And Report – June 14 – June 16, Weekend
The Toronto Market
Friday, the TSX declined -59.01 points or -0.27% to close the market session at 21,639.10.
This past week, the market got more negative as the week progressed. Technology, up 1.82%, and thanks to Shopify Inc. (TSX:SHOP), was the only sector to gain on the TSX on Friday. Basic Materials declined -0.01%; Industrials sector was down -0.07%; Financials sector was down -0.40%; Durable Consumer Goods & Services sector was down -0.72%; Healthcare was down -0.97%, while Energy declined -1.03% and Telecommunications Services declined -1.42%.
For the week, Technology was up 3.88%; Industrials sector was down -0.41%; Durable Consumer Goods & Services was down -1.78%; Basic Materials was down -1.81%; Financials sector was down -2.00%; Discretionary Consumer Goods & Services declined -2.18%; Healthcare was down -2.67% while energy was down -2.90% and Telecommunications Services was down -3.79%. It was a really negative market this past week.
In the industry groups, Air Freight & Courier Services was up 3.89%; Textile & Leather Goods, up most market sessions this past week, was up 3.57% on Friday; IT Services & Consulting was up 3.45%, while Personal Services was up 2.24% and Office Equipment was up 2.14%.
Today’s Statistics: Friday, the declined issues (Decliners) outnumbered the gaining issues (Advancers). The declined issues were higher than the Advancers for the second consecutive market session. The ratio of Decliners to Advancers was 1.9-to-1.0 or in practical terms, roughly for every two Decliners there was one Advancer. In real numbers, 977 Decliners to 513 Advancers with 109 Unchanged. The total volume of shares traded for gaining stocks was 91,922,053 or 28.1%, the total volume for declined stocks was 225,965,251 or 69.0% and 9,569,797 or 2.9% for “Unchanged”.
Friday, there were 127 new 52-Week Highs and 24 new 52-Week Lows. On Thursday, there were 119 new 52-Week Highs and 17 new 52-Week Lows. Wednesday, there were 224 new 52-Week Highs and 18 new 52-Week Lows.
The total volume of shares traded at the TSX Friday was 327,457,101 compared to yesterday’s 355,493,807. That volume was 9% lower than the volume on Thursday and 7.4% lower than the average of the ten most recent market sessions.
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The US Markets
Friday, the market was mixed again. The Dow Industrial Average declined -57.94 points or -0.15% to close the market session at 38,589.16. The S&P 500 was down -2.14 points, or -0.04%, to close at 5,431.60. The Nasdaq Composite was up 21.32 points or 0.12%, to close at 17,688.88 maintaining its fifth consecutive market session’s gain.
Technology, with 0.25% gain was the only sector to gain at the US markets on Friday. Durable Consumer Goods & Services and Utilities declined -0.24%; Healthcare declined -0.34%; Utilities declined -0.35%; Financials sector was down -0.46%; Basic Materials declined -0.93%, while Industrials declined -1.04% and Energy was down -1.10%.
For the week; Technology was up a portfolio friendly 4.62% and was the only sector to gain for the past week. Utilities declined -0.25%; Healthcare declined -0.33%; Discretionary Consumer Goods & Services declined -0.89%; Basic Materials was down -1.42%; Financials declined -1.57% and Energy was down -2.15%.
In the industry groups, Marine Port Services was up 2.24%; Semiconductors industry was up 0.86%; Household Products gained 0.78% while Software gained 0.58% and Beverages – Distillers & Wineries gained 0.58%.
Today’s Market Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers) on the NYSE. The ratio of Decliners to Advancers was 2.4-to-1.0 or in practical terms, approximately for every three Decliners there was one Advancer. In real numbers, to 2,769 Decliners to 1,157 Advancers with 276 Unchanged. The total volume of shares traded for gaining stocks was 199,756,024 or 22.9%; the total volume for declined stocks was 659,239,153 or 75.4% and 14,826,758 or 1.7% for “Unchanged”.
Friday, there were 122 new 52-Week Highs and 127 new 52-Week Lows. On Thursday, there were 188 new 52-Week Highs and 97 new 52-Week Lows. On Wednesday, there were 414 new 52-Week Highs and 60 new 52-Week Lows. We have provided three days data to provide a good picture of the market performance decline as the week progressed this past week even in spite of the relatively good inflation report.
The total volume of stocks traded at the NYSE Friday was 873,821,935 compared to Thursday’s 878,803,418, a less than one percent decrease. Friday’s volume was about five per cent lower than the average of the ten most recent market sessions.
On the NASDAQ, the Decliners prevailed over the Advancers by a ratio of 2.46-to-1 or roughly for every twelve Decliners there were five Advancers. In real numbers, there were 3,048 Decliners to 1,229 Advancers and 275 Unchanged. The total volume of volume-gaining stocks was 2,143,975,267 or 41.7%; the total volume of declined-volume stocks was 2,960,292,291 or 57.6% and 31,300,784 or 0.6% for “Unchanged”
Friday, there were 66 new 52-Week Highs and 210 new 52-Week Lows. Thursday, there were 119 new 52-Week Highs and 150 new 52-Week Lows. On Wednesday, there were 203 new 52-Week Highs and 96 new 52-Week Lows.
The market essentially got more negative as the week progressed. The market was quite positive on Wednesday but went negative Thursday and Friday. It is really not time for additional purchases except in exceptional cases. It might be smart to watch the market for a few more sessions before plunging in again. The market will of course do what it wishes to do.
The total volume of stocks traded at the NASDAQ on Friday was 5,135,568,342 compared to Thursday’s 5,091,530,482, a one per cent increase but two percent lower than the average of the last ten market sessions.
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Stocks In The News/Stocks To Watch
The Toronto Market
Shopify Inc. (TSX:SHOP) carries a big weight within the TSX technology sector. The stock was down for quite some time but has been seeing some action during the past several sessions. On Friday, Shopify was up 4.56% or $4.05 to close the session at $92.94 with 2.6M shares traded during the market session. Shopify, a couple of years back, was more valuable than the Royal Bank of Canada, Canada’s biggest bank in terms of assets. SHOP stock gained 12% during the past three and a half weeks. There is good volume to support the current up climb by the stock. It is worth keeping an eye on.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Most of the stocks in this and the Canadian Vanguard Chinese watchlists ended the week in red. The market last week was actually bearish. Indexes ended the week in the red. Even Nasdaq without the few big-weight technology stocks would also have ended in the red. Last week was bearish indeed.
The Canadian Vanguard Chinese Stocks Watchlist
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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