The Canadian Vanguard Stock Market Report At Market Close – Friday, April 5, 2024
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The Canadian Vanguard’s Data Driven Stock Market Analysis And Report – April 5 – 6, Weekend Edition
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The Toronto Market
The TSX was up 212.59 points or 0.96% to close Friday’s market session at 22,264.38. The TSX had a positive market session which was almost a total reversal of Thursday’s market’s poor performance.
The TSX was firing on all cylinders on Friday as nine of the ten major sectors had sizable gains. Utilities was the only sector to decline and even then, the decline was a relatively small -0.08%. Basic Materials, up 1.75%, continues to lead the gaining sectors, Healthcare was up 1.46%; Durable Consumer Goods & Services was up 1.41%; Discretionary Consumer Goods & Services gained 1.29%; Technology was up 1.20%; Energy gained 0.87% while Financials sector climbed 0.74%; Industrials gained 0.65% and Telecommunications Services gained 0.45%.
For the week, Basic Materials was up 6.32%; Energy was up 2.79% and Discretionary Consumer Goods & Services gained 0.87%. The rest of the major sectors suffered declines for the week. Technology declined -3.93%; Durable Consumer Goods & Services was down -2.96%; Telecommunications Services declined -2.66%; Industrials declined -2.10% while Healthcare declined -1.56% and Financials declined -1.19%.
Semiconductors, up 6.19%, was the top performing industry at the TSX today. Insurance – Multiline was up 4.43%; Construction Materials gained 3.98%; Retail – Discount Stores was up 3.745 and Entertainment Production gained 2.82%. Some member companies of the semiconductor industry are: Ztest Electronics Inc. (TSX:ZTE), Clear Blue Technologies Inc. (TSX:CBLU); Micromem Technologies Inc. (TSX:MRM) and Spectra7 Microsystems Inc. (TSX:SEV)
Today’s Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners). The ratio of Advancers to Decliners was 2.65-to-1.0 or in practical terms, for every thirteen Advancers there were five Decliners. In real numbers, 1,091 Advancers to 412 Decliners with 92 Unchanged. The total volume of shares traded for gaining stocks was 243,748,349 or 66.8%, the total volume for declined stocks was 98,320,273 or 26.9% and 22,808,520 or 6.3% for “Unchanged”. The market today was bullish and a complete reversal of the ugly decline yesterday. It is useful to remember that Thursday’s ugly reversal was due to events external to the market – developments relating to the current war in the Middle East.
Friday, there were 137 new 52-Week Highs and 12 new 52-Week Lows. Yesterday, in spite of the ugly reversal, there were 141 new 52-Week Highs and 11 new 52-Week Lows which was bullish.
The total volume of stocks traded at the TSX today was 364,877,142 compared to 388,849,094 yesterday, roughly a six percent decrease. Today’s volume of 364,877,142 was about the average of the ten most recent market sessions.
The US Markets
The Dow Jones Industrial Average gained 307.06 points, or 0.80%, to close at 38,904.04. The S&P 500 gained 57.13 points, or 1.11%, to close at 5,204.34. The Nasdaq Composite was up 199.44 points or 1.24%, to close at 16,248.52. This is Dow’s worst week to date in 2024.There was heavy selling on Thursday and volume was up significantly. Volume was back down on Friday.
The US markets delivered a broad-based positive performance today. Technology led the sectors gaining 1.44%; Industrials was up 1.14%; Energy and Healthcare sectors gained 0.84% each and Financials sector was up 0.63%. Telecommunications Services, down -0.59%, was the only major sector to decline at the US markets on Friday.
It was a tough week for the sectors. Energy was up 3.65% and Basic Materials was up 0.60% for the week. The rest of the sectors declined for the week. Healthcare was down -3.43%; Discretionary Consumer Goods & Services declined -2.88%; Durable Consumer Goods & Services declined -2.16%; Technology was down -1.63%; Financials sector was down -1.58% while Industrials was down -1.35% and Telecommunications Services was down -1.08%.
Precious Metals & Minerals gained 3.01% to lead the industries with gains. Retail – Catalog & Internet Order was up 2.59% while Semiconductor Equipment & Testing industry gained 2.17% and Construction Materials gained 1.94%.
Today’s Market Statistics: Today, the gaining issues (Advancers) outnumbered the declined issues (Decliners) on the NYSE. The ratio of Advancers to Decliners was 2.86-to-1.0 or in practical terms, approximately for every fourteen Advancers there were five Decliners. In real numbers, 2,359 Advancers to 1,638 Decliners with 270 Unchanged. The total volume of shares traded for gaining stocks was 576,917,733 or 64.2%; the total volume for declined stocks was 310,295,289 or 34.5% and 11, 060,902 or 1.2% for “Unchanged”.
There were 184 new 52-Week Highs and 58 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 898,273,924 compared with 1,032,723,174 yesterday, a 13% decrease. Today’s volume of 898,273,924 is about two per cent lower than the average of the ten most recent market sessions.
On the NASDAQ, the Advancers prevailed over the Decliners today by a ratio of 1.15-to-1 or roughly for every eleven Advancers there were ten Decliners. In real numbers, there were 2,291 Advancers to 1,992 Decliners with 296 Unchanged. The total volume of volume-gaining stocks was 2,441,355,959 or 52.1%; the total volume of declined-volume stocks was 2,185,787,901 or 46.7% and 54,766,209 or 1.2% for “Unchanged”.
There were 83 new 52-Week Highs and 145 new 52-Week Lows. That was bearish.
The total volume of stocks traded at the NASDAQ today was 4,681,910,069 compared to 5,486,450,645 yesterday, a 15% decrease. Today’s volume of 4,681,910,069 is about four percent lower than the average of the last ten market sessions.
Oil Price: U.S. crude oil is currently at $86.73 a barrel, up 4.5% for the week. That brought Oil price to its highest level since October.
10 –year Treasury Yield: The US 10-year Treasury yield closed Friday at 4.386%, compared with 4.315% Thursday, while the five-year Treasury yield closed at 4.375%, up from 4.301%.
The market outlook is Moderately Higher Risk mode.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The Canadian big banks are certainly contributing their fair share to the current advance by the TSX. Royal Bank of Canada was last at $139 on February 7th, 2023 but closed Friday at $139.11.
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
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