The Canadian Vanguard Stock Market Report At Market Close – Tuesday, March 26, 2024
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Data Driven Market Analysis And Report For Smart Investors
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The Toronto Market
The TSX declined -29.76 points or -0.14% to close today’s market session at 21,912.52. The TSX has of today declined three consecutive market sessions although the decline today was relatively minor at -0.14%. Given the number of stocks in the index it is possible but very unlikely that the index will end a market session unchanged from a previous session’s close.
Only three of the TSX’s major sectors ended today’s session with gains: Healthcare was up 1.75%; Discretionary Consumer Goods & Services gained 0.40% and Technology was up 0.12%. Industrials sector was unchanged at market close. Financials sector declined a relatively small -0.05%, Telecommunications Services declined -0.14% while Basic Materials was down -0.21%; Utilities was down -0.36% and Energy was down -0.60%.
Coal industry was up 4.73%; Pharmaceuticals – Generic & Specialty gained 3.19%; Paper Packaging was up 2.59% while Airlines gained 2.08% and Air Freight & Courier Services industry was up 2.07% today.
Today’s Statistics: The declined issues (Decliners) outnumbered the gaining issues (Advancers) today. The ratio of Decliners to Advancers was 1.11-to-1.0 or in practical terms, for every eleven Decliners there were ten Advancers. In real numbers, 735 Decliners to 663 Advancers with 170 Unchanged. The total volume of shares traded for gaining stocks was 158,840,193 or 44.0%; the total volume for declined stocks was 184,376,900 or 51.1% and 17,592,973 or 4.90 % for “Unchanged”. The real picture today lies in the ratios. The ratio of Decliners to Advancers is pretty close, actually at 11:10. The market is sort of waiting for some incentive or event to tilt it either bullish or bearish.
There were 103 new 52-Week Highs and 5 new 52-Week Lows. That is bullish.
The total volume of stocks traded at the TSX today was 360,809,166 compared to 389,774,542 yesterday, a seven and a half percent decrease. Today’s volume of 360,809,166 was two percent lower than the average of the ten most recent market sessions.
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The US Markets
The Dow Jones Industrial Average declined -31.31 points, or -0.08%, to close at 39,282.33. The S&P 500 declined -14.61 points, or -0.28%, to close at 5,203.58. The Nasdaq Composite was down -68.77 points or -0.42%, to close at 16,315.7. The story today is in the volume of shares traded. The volume of shares traded was up 10% on the Nasdaq and up 16.22% on the NYSE. These were sizeable volume increases but all three indexes declined today but by relatively small amounts. The markets on Tuesday were not ready for major declines.
Healthcare, up a relatively small 0.33%, was the top gaining sector; Durable Consumer Goods and Services gained 0.10% and Discretionary Consumer Goods & Services gained 0.07%. Financials sector declined -0.03%; Telecommunications Services declined -0.07% and Industrials declined -0.07%. Basic Materials declined -0.33% while Technology declined -0.54% and Energy declined -0.85%. Oil price was down slightly at the market today.
Healthcare is one industry seeing good money flows during the past few sessions. The sector was the top performing sector a few times during the past few sessions. There appears to be some minor rotation going on currently at the markets.
Casinos & Gaming, up 1.86%, was the top industry on Tuesday at the US markets. Airport Services gained 1.84%; Auto & Truck Manufacturers gained 1.24%; Managed Health Care was up 1.14% and Computer Hardware gained 1.11% at the markets on Tuesday.
Today’s Market Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers) on the NYSE. The ratio of Decliners to Advancers was 1.24-to-1.0 or in practical terms, it was approximately for every six Decliners there were five Advancers. In real numbers, 2,182 Decliners to 1,756 Advancers with 338 Unchanged. The total volume of shares traded for volume-gaining stocks was 395,568,517 or 42.6%; the total volume for declined-volume stocks was 515,848,914 or 55.6% and 16,317,378 or 1.8% for “Unchanged”.
There were 242 new 52-Week Highs and 50 new 52-Week Lows.
On the NASDAQ, the Decliners prevailed over the Advancers today by a ratio of 1.39-to-1 or roughly for every seven Decliners there were five Advancers. In real numbers, there were 2,491 Decliners to 1,787 Advancers with 341 Unchanged. The total volume of volume-gaining stocks was 2,682,022,486 or 51%; the total volume of declined-volume stocks was 2,500,213,375 or 47.6% and 75,202,305 or 1.4% for “Unchanged”.
There were 122 new 52-Week Highs and 124 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 5,257,438,166.
10 –year Treasury Yield: The US 10-year Treasury yield closed down a couple of basis points at 4.23% on Tuesday, compared with 4.25% on Monday.
The market outlook remains Uptrend Under Pressure.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
Tesla was up 2.93%, the first time the stock was up above 0.5% in several market sessions.
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