The Canadian Vanguard Stock Market Report At Market Close – Thursday August 8, 2024
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Get the Data-Driven Information you need to prepare for informed investing at the market tomorrow.
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The Toronto Market
The Toronto market roared back today. The TSX gained 344.66 points or 1.58% to close today’s market session at 22,225.61. The index brought to an abrupt end four days of consecutive declines.
Today’s market session was broad-based positive with all ten sectors of the TSX ending the session in green. The sectors did not just make gains but concrete gains indeed. Technology led the sectors with a portfolio friendly 3.76% gain. Healthcare gained 2.56%; Basic Materials was up 1.77% and Discretionary Consumer Goods & Services gained 1.67%. Energy was up 1.65%; Financials gained 1.39%; Industrials gained 1.04% and Telecommunications Services was up 0.45%. Investors were less risk averse today.
In the Industry groups, Computer Hardware led the industries with, up 7.96%; Retail – Departmental Stores was up 7.34%; Construction Materials was up 6.07%; IT Consulting Services gained 5.32%; and Insurance – Multiline gained 5.17%. Casinos & Gaming gained 4.30%; Retail – Apparel & Accessories gained 2.65%; Integrated Oil & Gas gained 2.27% and Marine Port Services gained 2.25%. On the downside, Paper Products declined -3.67%; Tires & Rubber Products declined -3.50% while Casinos & Gaming industry declined -2.91%.
Today’s Statistics: Today, the gaining issues (Advancers) totally outnumbered the declined issues (Decliners). The ratio of Advancers to Decliners was 4.03-to-1.0 or four Advancers for every Decliners, a truly bullish performance. In real numbers, 1,124 Advancers to 279 Decliners with 82 Unchanged.
The total volume of shares traded at the TSX today was 365,640,730 compared to 449,735,243 yesterday. The volume today was 13% lower than the volume at yesterday’s market session and 1.09% lower than the average of the ten most recent market sessions.
The US Markets
The Dow Jones Industrial Average was upbeat all day today and ended the market session gaining 683.04 points or 1.76% to close the market session at 39,446.49. The S&P 500 index was up 119.81 points, or 2.39%, to close at 5,319.31. The Nasdaq Composite climbed 464.22 points or 2.87%, to close the session at 16,660.02.
All sectors at the US markets gained today with most making some quite handsome gains. Technology was up 3.32%; Healthcare was up 2.68%; Discretionary Consumer Goods & Services was up 2.12%, Industrials gained 2.11% and Energy was up 1.97%. Financials gained 1.71% while Telecommunications Services gained 1.09%. Utilities gained 0.47%. Today was all round positive market session.
In the Industry groups, Appliances, Tools & Housewares was up 9.50%; Semiconductors group was up 6.39%; Semiconductor Equipment & Testing was up 5.97%; Office Equipment was up 5.17% and Real Estate Operations was up 4.68%. Amongst the poor performers for the day: Retail Drugs declined -8.08%; Marine Port services declined -0.86%; Beverages – Non-Alcoholic was down -0.52%. Today the declines were few and were marginal. The bears truly stayed away 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 2.9-to-1.0 or for every three Decliners there was one Advancers. In actual numbers, 3,119 Decliners to 1,067 Advancers with 260 Unchanged.
Today, there were 52 new 52-Week Highs and 61 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 1,027,708,859.
On the NASDAQ, the Advancers prevailed over the Decliners by a ratio of 2.77 to-1 or roughly for every three Advancers there was one Decliner. In actual numbers, 3,124 Advancers to 1,125 Decliners with 274 Unchanged.
Today, there were 51 new 52-Week Highs and 195 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 6,070,990,830 compared to 6,145,620,694 yesterday. The volume today was 1% higher than the volume yesterday. Today’s volume was, 1% lower than the average volume of the last ten market sessions.
Oil Price: U.S. crude oil prices jumped 0.17% to $76.32 reflecting rising Middle East tensions.
10 –year Treasury Yield: The 10-year yield is at 3.963% closing in on 4.00% mark after report indicating jobless claims decline.
Market Roundup Report: The US markets outperformed today. The S&P 500 and NASDAQ gained higher than 2%. That is quite a performance given that an index is composed of several, sometimes hundreds or thousands of stocks. The only snag today was that the market performance came with less than average volumes of stocks traded. Investors possibly stayed away, sat on the fence to avoid a repeat carnage today. Fortunately the bears stayed chased away or were asleep all day today. The main issue today was the volume. Investors would normally prefer a brilliant performance day like today should come with higher than the average daily volume – that drives the conviction in the market. In the absence of such volume today we have to wait for another session to confirm that the rally attempt, started a few days ago is here to stay.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Financial sector at the TSX was all green today. There were no giant gains but handsome gains nonetheless.
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
The EV manufacturers came alive, hard-charging today resulting in some handsome, solid gains.
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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