The Canadian Vanguard Stock Market Report At Market Close – Wednesday, September 18, 2024
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The Toronto Market
The TSX today, suffered its second consecutive day of decline, down -85.10 points or -0.36% to close the market session at 23,592.60.
The Spread: Only three of the major TSX sectors ended the session with gains. It was a volatile session which ended quite negative. Healthcare, up 0.99%, was one of the three gainers at a negative market session. Technology was down -0.11%; Financials was down -0.27%. Utilities, down -0.86%, was the worst performing sector today.
Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers) by a ratio of 1.33-to-1.0 or for every thirteen Decliners there were ten Advancers. In real numbers, there were 1,027 Decliners to 771 Advancers with 225 Unchanged.
The total volume of shares traded at the TSX today was 364,032,394, a 2.5% decrease from the volume of 372,609,294 shares traded yesterday.
Today, there were 234 new 52-Week Highs and 15 new 52-Week Lows. On Monday, there were 396 new 52-Week Highs and 10 new 52-Week Lows.
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The US Markets
The Dow Jones Industrial Average declined -103.08 points or -0.25%, to close the market session at 41,503.10. The S&P 500 index was down -16.32 points, or -0.29%, to close at 5,618.26. The Nasdaq Composite was down -54.76 points or -0.31%, to close the session at 17,573.30.
The Spread: All the major sectors of the US markets ended the session in red. Discretionary Consumer Goods & Services, the top performing sector was down -0.02%; Utilities, the worst performing sector was down -0.68%. Financials was down -0.07% and Technology was down -0.38%.
Today’s Market Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers) on the NYSE. The ratio of Decliners to Advancers to was 1.54-to-1.0 or roughly for every three Decliners there were two Advancers. In actual numbers, 2,084 Decliners to 1,830 Advancers with 386 Unchanged.
Today, there were 699 new 52-Week Highs and 31 new 52-Week Lows. Yesterday, there were 697 new 52-Week Highs and 29 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 1,070,104,251, 13% higher compared to a total volume of 947,160,508 shares traded yesterday.
On the NASDAQ, the Decliners outnumbered the Advancers by a ratio of 1.44 to-1 or roughly for every seven Decliners there were five Advancers. In actual numbers, 2,507 Decliners to 1,736 Advancers with 276 Unchanged.
Today, there were 335 new 52-Week Highs and 79 new 52-Week Lows. Yesterday, there were 309 new 52-Week Highs and 71 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 5,077,150,978, up 4% compared to a total volume of 4,870,613,204 shares traded yesterday.
Oil Price: US Oil price fell as the US cut interest rate but the price is creeping back up and is currently at $71.32 up $0.413 or 0.58% as at the time of this post.
10 –year Treasury Yield: The US 10-year Treasury yield closed at 3.694%, up from Tuesday’s close of 3.64%, while the five-year yield closed at 3.477%, up from 3.431%.
Market Roundup Report: The Feds delivered at the high end today. The Feds FOMO committee reduced interest rate by 50 basis point. We predicted yesterday in this column that volatility will precede and follow the announcement. The volatility will soon subside. Lower interest rate is always good for business. It makes cheaper financing available. For investors, this is the time to prune our watchlist and be ready to benefit from the interest rate decline going forward.
Overnight the futures were up. Given that the Feds started the interest rate cuts at the high end, the volatility was probably overdone so there should be some money to be made in the near term. Happy investing.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
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