The Canadian Vanguard Stock Market Report At Market Close – Thursday, April 11, 2024
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Data Driven Stock Market Analysis And Report
The Toronto Market
The TSX declined 89.02 points or -0.40% to close today’s market session at 22,110.11. The index followed the three digit decline yesterday with a bit of a smaller decline today to register two consecutive days of decline.
The Toronto market was quite negative today as only three of the major sectors gained. Basic Materials continued its sector leadership but with the highest sector gain of only 0.56%. Technology followed with a 0.34% gain. Durable Consumer Goods & Services gained 0.32%.
Healthcare declined -0.10%; Financials sector was down -0.34%; Discretionary Consumer Goods & Services declined -0.51%; Industrials was down -0.65% and Energy was down -1.24% even though Oil price was up today.
Medical Equipment, Supplies & Distribution was the top Canadian Industry at the TSX today. The industry gained a healthy 11.69%; Textiles & Leather Goods gained 3.70%; Marine Port Services gained 3.01%; Retail – Apparel & Accessories was up 2.06% and Reinsurance gained 2.04%.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). The ratio of Advancers to Decliners was 1.07-to-1.0 or in practical terms, roughly for every eleven Advancers there were ten Decliners. In actual numbers, 752 Advancers to 699 Decliners with 89 Unchanged. The total volume of shares traded for gaining stocks was 149,297,839 or 42.3%, the total volume for declined stocks was 196,964,586 or 55.7% and 7,046,362 or 2.0% for “Unchanged”.
There were 107 new 52-Week Highs and 11 new 52-Week Lows.
The total volume of stocks traded at the TSX today was 353,308,787 compared to 367,274,151 yesterday, roughly 4% percent decrease. Today’s volume of 353,308,787 was one percent lower than the average of the ten most recent market sessions.
The US Markets
The Dow Jones Industrial Average declined a mere -2.43 points today. The S&P 500 gained 38.42 points, or 0.74%, to close at 5,199.06. The Nasdaq Composite was up a hefty 271.84 points or 1.68%, to close at 16,442.20. The negligible decline by Dow Jones today sort of masks the volatility at the market today. The three indexes initially declined after opening but Dow was down by over 200 points by midmorning. Investors obviously decided to ignore the mixed Producer Price Index report and pushed indexes up. The Dow was down about 300 points in the morning. The decline on Wednesday was probably overdone and investors took the PPI report as a catalyst to push the market up. The Nasdaq and S&P 500 climbed for the rest of the session pushing Nasdaq into record territory. Nasdaq and S&P 500 are up but the volumes are down – that raises a big question mark on today’s performance.
Although Nasdaq had a very positive market session only four of the major US market sectors ended the market session with gains today. Technology sector gained 1.86%. Durable Consumer Goods & Services gained 0.78%; Basic Materials was up 0.11% and Industrials gained 0.09%. Today was really a session dominated by Technology sector. There were no major sector declines; Healthcare declined the lowest with -0.20% decline and Financials sector declined -0.52% for the worst sector performance today. Utilities declined -0.21% and Energy was down -0.33%. The banks quarterly earnings reporting season starts tomorrow morning.
Communications Equipment industry was up 3.77%; Marine Port Services gained 3.47% while Semiconductors gained 3.05%; Footwear was up 2.63% and Semiconductor Equipment & Testing was up 1.98%. AI stocks and the Chips industry dominated with gains at the market session today.
Today’s Market Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners) on the NYSE. The ratio of Advancers to Decliners was 1.12-to-1.0 or in practical terms, approximately for every eleven Advancers there were ten Decliners. In actual numbers, 2,118 Advancers to 1,896 Decliners with 297 Unchanged. The total volume of shares traded for gaining stocks was 431,451,427 or 46.5%; the total volume for declined stocks was 480,582,174 or 51.8% and 14,938,835 or 1.6% for “Unchanged”.
There were 93 new 52-Week Highs and 61 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 926,972,436 compared with 1,021,109,559 yesterday, a 9% decrease. Today’s volume of 926,972,436 is about one per cent higher than the average of the ten most recent market sessions.
On the NASDAQ, the Advancers outnumbered the Decliners today by a ratio of 1.24-to-1 or roughly for every six Advancers there were five Decliners. In real numbers, there were 2,358 Advancers to 1,897 Decliners with 303 Unchanged. The total volume of volume-gaining stocks was 2,765,382,554 or 57.3%; the total volume of declined-volume stocks was 2,000,114,105 or 41.4% and 62,430,891 or 1.3% for “Unchanged”.
There were 63 new 52-Week Highs and 141 new 52-Week Lows. Yesterday, there were 36 new 52-Week Highs and 185 new 52-Week Lows. On Tuesday, there were 104 new 52-Week Highs and 79 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 4,827,927,550 compared to 5,401,311,941 yesterday, an 11% decrease. Today’s volume of 4,827,927,550 is three percent lower than the average of the last ten market sessions.
Oil Price: Oil was up $0.84 at $85.86 per barrel as at the time of this post – around 10pm.
10 –year Treasury Yield: The US 10-year Treasury yield was unchanged at 4.362% today.
The market outlook remains Market In Rally Mode.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The banks have pulled back slightly the last couple of sessions but we will keep an eye on them as the earnings season draws near.
The Canadian Vanguard Chinese Stocks Watchlist
PDD, TCOM and EDU are worth keeping an eye on for future action.
EV, Energy and Resource Stocks Watchlist
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