The Canadian Vanguard Stock Market Report At Market Close – Monday, October 21, 2024
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The Toronto Market
Today, the TSX composite index declined -99.21 points or -0.40% to close the market session at 24,723.33. The TSX brought three consecutive sessions of gains to an end today. The good news is that the decline was relatively small given the rapid gains last week. The index remains in record territory.
The Market Spread: The market was negative today and market breadth was nil –really negative. All the major sectors at the TSX declined today. The market was broad-based negative. Basic Materials, down -0.02%, led the sectors. Energy declined -0.06%, Industrials was down -0.19%; Technology was down -0.56%; Financials was down -0.56% and Durable Consumer Goods & Services was down -1.15%. Discretionary Consumer Goods & Services, down -1.43%, was the worst performing sector. It was a bearish market on Monday.
Industry Groups: Computer Hardware was up 3.79%; Paper Products was up 2.81%; Home Furnishing was up 2.20%; Heavy Electrical Equipment was up 1.74% and Industrial Machinery & Equipment was up 1.35%. Auto & Truck Manufacturers was the worst performing industry today.
Today’s Statistics: Today, the declined issues (Decliners) outnumbered gaining issues (Advancers) by a ratio of 2.50-to-1.0 or simply, there were five Decliners for every two Advancers. In real numbers, there were 1,343 Decliners and 536 Advancers while 136 stocks remained Unchanged.
The total volume of shares traded at the TSX today was 346,531,792 or 5% lower when compared to the volume of 363,282,076 shares traded on Friday.
Today, there were 274 new 52-Week Highs and 19 new 52-Week Lows.
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The US Markets
Today, the Dow Jones Industrial Average declined -344.31 points or -0.80%, to close the market session at 42,931.60. The S&P 500 index was down -10.69 points, or -0.18%, to close at 5,853.98. The Nasdaq Composite gained 50.45 points or 0.27%, to close the session at 18,540.01. The NASDAQ volume today was up about 19% compared to the volume on Friday. The Dow Jones index was the laggard index today but the index is still up in record territory. Nasdaq was the top performing index again today. Today’s performance was accompanied by a good increase in volume – a very positive sign.
The Market Spread: Technology, up 0.53%, was the only sector to end the session with a gain today. It was a negative market session with quite a bearish tone. Utilities was down -0.24%; Energy was down -0.26%; Industrials was down -0.53%; Basic Materials was down -0.81%. Telecommunications Services was down -0.83%. Healthcare was down -1.20%. It was a bearish session.
Industry Groups: Marine Port Services was up again, up 31.25%; Semiconductors was up 2.03%; Communications Equipment was up 0.55%; Aerospace & Defense was up 0.43% – Probably investors speculating about the military needs to fight the war in the Middle East. Engineering & Construction was up 0.33%. Tires & Rubber Products, down -4.95%, was the worst performing industry today.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) outnumbered the gaining issues (Advancers). The ratio was 3.51-to-1.0 or roughly for every seven Decliners there were two Advancers – quite bearish. In actual numbers, there were 3,121 Decliners to 889 Advancers with 306 Unchanged.
There were 262 new 52-Week Highs and 47 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 3,407M or about 1% higher than the total volume of stocks traded on Friday.
On the NASDAQ, the Decliners outnumbered the Advancers by a ratio of 2.24-to-1.0, roughly for every eleven Decliners there were five Advancers. In actual numbers, 2,984 Decliners to 1,333 Advancers with 251 Unchanged.
There were 130 new 52-Week Highs but 70 new 52-Week Lows which is bearish.
The total volume of stocks traded at the NASDAQ today was 6,092M, a 19% increase compared to the total volume of shares traded on Friday.
Oil Price: Oil price is up slightly at $70.35 a barrel as at the time of this post.
10 –year Treasury Yield: The US 10-year Treasury yield closed at 4.18%, up from Friday’s close of 4.073%. The US 10-year Treasury yield was up and at 4.214% as at the time of this post. The five-year yield closed at 3.972%, up from 3.876%.
Market Roundup Report: The NASDAQ is back but the breadth was really narrow as Technology was the only sector to gain today. That gain was driven almost solely by Nvidia. The small caps also disappointed today -Russel 2000 was down 1.6%. This market could spin a surprise down draft at any time.
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Stocks In The News/Stocks To Watch
The US Markets
Nvidia Corps roared back and stood out today. The stock was up 4.14% to close at $143.71
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Financials both in the US and Canada had a tough session on Monday.
Blended Growth Stocks Watchlist
Apple was up on Monday but the rally is beginning to show its age.
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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