The Canadian Vanguard Stock Market Report At Market Close – Wednesday, March 5, 2025

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The Toronto Market

The TSX composite index advanced 298.82 points or 1.22% to close the session at 24,870.82. All the major North American market indexes advanced at least 1% each at Wednesday’s market session.

                                                                                                                     

The Market Breadth:   Nine of the ten major sectors advanced at the Toronto market today. Basic Materials was up a solid 3.42%; Technology was up 2.53%; Discretionary Consumer Goods & Services, a good pointer to how retail stocks are doing, was up 2.12%; Durable Consumer Goods & Services advanced 1.28%; Financials gained 0.72%;   Telecommunications Services was up a paltry 0.05%; Energy was up a marginal 0.03% and Utilities, down -0.10%, was the only sector that declined at the market session.

Industry Groups:  The top five industry groups at the US markets today were:  Textiles & Leather goods up 7.14%; Media Diversified up 7.10%; Mining & Metals – Specialty up 6.78%; and Computer Hardware up 5.55%.

Today’s Statistics: The issues that gained (Advancers) outnumbered those that declined (Decliners). There were roughly two Advancers for every Decliner or a more exact ratio of 1.99-to-1.0.  In real numbers, there were 1,318 Advancers to 662 Decliners while 129 stocks remained Unchanged.

Today, there were 85 new 52-Week Highs and 47 new 52-Week Lows.

The total volume of shares traded at the TSX today was 468,197,119 or about 9% less compared to the volume of 515,872,699 shares traded yesterday.

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The US Markets

The Dow Jones Average index advanced 485.60 points or 1.14% to close at 42,006.59. The S&P 500 index gained 64.48 points or 1.12% to close at 5,842.63. The Nasdaq Composite advanced 267.57 points or 1.46%, to close at 18,552.73. All three indexes advanced with better than 1% each today. It was a positive market session.

The Market Breadth: Eight of the eleven major sectors gained today. Basic Materials, up a good 3.17%, was the top performer today. Discretionary Consumer Goods & Services advanced 1.86%; Technology was up 1.72%; Industrials was up 1.54% and Financials was up 1.28%. Telecommunications Services gained 0.33%. Utilities and Energy were the laggards declining -0.48% and -0.62% respectively. It would appear that investors were less risk averse today.

Industry Groups:  The top five industry groups at the US markets today were: Beverages – Distillers & Wineries up 6.19%; Mining & Metals – Specialty was up 4.44%; Airlines was up 4.44%; Construction Materials was up 4.44% and Steel was up 3.93%. Industries likely to benefit from the reduced tariffs announced today, advanced after the announcement.

Today’s Market Statistics:  At the NYSE, the issues that gained (Advancers) outnumbered the issues that declined (Decliners). There were two Advancers for every Decliner or an exact ratio of 1.98-to-1.0. In actual numbers, there were 2,796 Advancers to 1,408 Decliners with 364 Unchanged.

There were 93 new 52-Week Highs and 146 new 52-Week Lows.

The total volume of stocks traded at the NYSE today was 5,384,296,829 or 14% less, compared to the volume of 6,249,366,964 shares traded yesterday.

On the NASDAQ, the Advancers totally outnumbered the Decliners. There were roughly two Advancers for every Decliner or an exact ratio of 2.06-to-1.0. In actual numbers, 3,005 Advancers to 1,456 Decliners with 194 Unchanged.

Today, there were 72 new 52-Week Highs and 162 new 52-Week Lows. The bulls are back in the market.

The total volume of shares traded at the NASDAQ was 7,227,005,415, or 17% less, compared to the volume of 8,671,513,865 shares traded yesterday.

Oil Price:    U.S. crude oil price steadied after plunging around early afternoon today on tariff worries. Oil price was at $66.81 a barrel as of the time (12:15am EST, Thursday) of the last post update today.

10 –year Treasury Yield:  The 10-year Treasury yield was up and at 4.263% this afternoon. The 5-year yield was at 4.161%. The 10-year yield was at 4.315% as of the time (12:15am EST Thursday) of this post update.

After-hours action:   Stock futures were mixed, but had very slight movement this evening after a day of recovery rally. Futures rose on some tariff reduction announcement for Canada and Mexico. The Dow futures was up 0.02% vs. fair value. S&P 500 futures was down -0.05%, and Nasdaq 100 futures was down -0.14% as of the time (12:15am EST, Thursday) of this post update.

Market Roundup Report:    The North American markets rallied today on some tariff relief announced by the US government trade department. We had such rallies recently, but choppiness has persisted. Investors should wait until there is confirmation that today’s rally will persist. It is relevant to note that the rally happened, accompanied by volume decrease of about 15% or more while the indexes were up. That is the exact opposite of what we would like to see. Technology gained today but most of the AI companies faltered. The technology companies that advanced today were chip manufacturers. One day rally only indicates a rally attempt, we have wait to confirm the rally. We need to see a day of sizable index gains with sizeable volumes.

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