The Canadian Vanguard Stock Market Report At Market Close – Wednesday, October 16, 2024
.
Follow us for Data-Driven Analysis and Insights To Guide Your Trading and Smart Investing
.
The Toronto Market
Today, the TSX composite index advanced 122.12 points or 0.50% to close the market session at 24,561.20. The volume of shares traded increased slightly today compared to yesterday.
Market Spread: The market today was broad-based positive. Seven sectors ended the session with gains. Investors, possibly, were risk averse as Utilities, up 1.14%, was the top sector; Basic Materials was up 0.96%; Financials was up 0.70% and Healthcare was up 0.65%. Energy finished the session up 0.30%. Telecommunications Services finished unchanged; Industrials and Technology were down -0.08% and -0.15% respectively. It was a day with no big gains and no big declines.
Industry Groups: Heavy Electrical Equipment was up 6.64%; Consumer Electronics was up 5.26%; Aluminum was up 4.55%; Marine Transportation was up 3.84% and Computer Hardware was up 3.79%. Publishing, down -5.14%, was the worst performing industry.
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners) by a ratio of 2.32-to-1.0 or simply, there were eleven Advancers for every five Decliners. In real numbers, there were 1,280 Advancers, 550 Decliners while 169 stocks remained Unchanged.
The total volume of shares traded at the TSX today was 413,102,578 or 1% increase when compared to the volume of 407,516,531 shares traded yesterday.
Today, there were 303 new 52-Week Highs and 17 new 52-Week Lows. By comparison, yesterday, there were 443 new 52-Week Highs and 17 new 52-Week Lows.
.
The US Markets
Today, the Dow Jones Industrial Average advanced 337.28 points or 0.79%, to close the market session at 43,077.70. The S&P 500 index was up 27.21 points, or 0.47%, to close at 5,842.47. The Nasdaq Composite was up 51.49 points or 0.28%, to close the session at 18,367.08. The NASDAQ was down more than 1%. The NASDAQ volume today was roughly about the same as at yesterday’s market. The Dow Jones index was the leading index today.
Market Spread: The market today was broad-based positive. Nine sectors ended the session with gains. Utilities, up 2.11%, led the sectors; Financials was up 1.18% as the big banks had a good session; Telecommunications Services was up 0.99%; Industrials was up 0.95%; Basic Materials was up 0.71% and Healthcare was up 0.47%. Technology was up 0.14%. Discretionary Consumer Goods & Services was the only sector to decline but was down a mere 0.04%.
Industry Groups: Rails & Roads – Passengers was up 6.30%. Airlines continue to do well and was up 5.21%; Managed Healthcare was up 2.53% – this may be the next industry for investors to focus on in the short term; Utilities – Electric was up 2.32% largely due to nuclear power generation related companies’ stocks making big gains today. Semiconductor Equipment & Testing, down -3.92%, was the worst performing sector continuing the trend from yesterday following ASML Holdings devastating earnings report yesterday morning.
Today’s Market Statistics: At the NYSE, the gaining issues (Advancers) totally outnumbered the declined issues (Decliners). The ratio was 3.35-to-1.0 or roughly for every seventeen Advancers there were five Decliners. In actual numbers, there were 3,023 Advancers to 902 Decliners with 287 Unchanged.
There were 437 new 52-Week Highs and 34 new 52-Week Lows. By comparison, yesterday there were 514 new 52-Week Highs and 41 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 675,161,617 or 2% higher than the total volume of 988,362,533 stocks traded yesterday.
On the NASDAQ, the Advancers outnumbered the Decliners by a ratio of 2.87-to-1.0, roughly for every fourteen Advancers there were five Decliners. In actual numbers, 3,222 Advancers to 1,121 Decliners with 253 Unchanged.
There were 293 new 52-Week Highs but 54 new 52-Week Lows. Yesterday, there were 291 new 52-Week Highs and 95 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 6,696,500,074, a 28% increase compared to the total volume of 6,694,601,712 shares traded yesterday.
Oil Price: Crude oil futures was up slightly and was at $70.66 around midnight.
10 –year Treasury Yield: The 10-year Treasury yield edged up to 4.038%.
Market Roundup Report: The current market rally remains intact. Investors should, however, watch out for and avoid stocks with extended price.
After hours action: Dow Jones futures declined -0.15% vs. fair value. S&P 500 futures declined -0.21% and Nasdaq 100 futures fell -0.23%.
.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Beginner Investor’s Blended Growth Stocks Watchlist
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.
SUBSCRIPTION Offer: We thank you for following our Stock Market posts but please be aware that we shall soon be restricting these articles to subscribers only.
We do not send this publication by email to readers. If you receive a copy by email please simply forward the email to us.
Our reports are composed by humans after proper analysis and detailed research. It is neither AI nor machine generated. We do not, like AI, make things up.
