The Canadian Vanguard Stock Market Report At Market Close – Monday, March 11, 2024
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Data Driven Market Analysis And Report for Smart Investors
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The Toronto Market
The TSX advanced 31.69 points or 0.15% to close today’s market session at 21,759.22. The Consumer Price Index due to be released tomorrow morning, will likely determine how the market goes from here during the rest of the week based on the level of inflation the report indicates.
Six of the TSX’s major sectors ended the market session with gains today. Energy, up 0.43%, was the top gainer today; Basic Materials was up 0.34%; Durable Consumer Goods & Services gained 0.25%; Financials sector was up 0.21%; Utilities gained 0.19% and Discretionary Consumer Goods & Services gained 0.04%.
Telecommunications Services declined -0.07%; Industrials declined -0.08% while Technology declined a big -0.65% and Healthcare declined -1.26%.
Computer Hardware was up 6.07%; Marine Port Services gained 3.35%; Retail – Specialty gained 3.18% while Publishing was up 2.11% and Forest & Wood Products gained 2.07%. Hotels, Motels & Cruise Lines, down -4.40% was the worst performer of the industries today.
Today’s Statistics: The declined issues (Decliners) outnumbered the gaining issues (Advancers) today. The ratio of Decliners to Advancers was 1.33-to-1.0 or in practical terms, for every thirteen Decliners there were ten Advancers. In real numbers, 837 Decliners to 629 Advancers with 120 Unchanged. The total volume of shares traded for gaining stocks was 169,487,865 or 54.5%; the total volume for declined stocks was 130,250,072 or 41.9% and 11,322,233 or 3.6% for “Unchanged”.
There were 127 new 52-Week Highs and 11 new 52-Week Lows. This is bullish.
The total volume of stocks traded at the TSX today was 311,060,170 compared to 339,311,433 on Friday, roughly eight percent decrease. Today’s volume of 311,060,170 was lower than the average of the ten most recent market sessions.
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The US Markets
The US markets were mixed today as Dow Jones which was down significantly immediately after market opening, managed to gain enough points late in the session to close in the positive. Today, the Dow Jones Industrial Average indexes gained 46.97 points, or 0.12%, to close at 38,769.66. The S&P 500 declined -5.75 points, or -0.11%, to close at 5,117.94. The Nasdaq Composite was down -65.84 points or -0.41%, to close at 16,019.27. The market may be about to change character. The rally remains alive but it is now on shaky legs. The indexes could pull back for any number of reasons.
Six of the major US sectors were up today. Telecommunications Services was up 0.78%; Durable Consumer Goods & Services gained 0.76%; Energy was up 0.59%;. Basic Materials declined 0.43%; Utilities was up 0.28% while Financials was down -0.26% and Healthcare was down -0.26% today. Industrials sector was down -0.48% and Technology declined -0.57%.
Precious Metals & Minerals industry gained 2.47%; Oil & Gas Drilling gained 2.45%; Tires & Rubber Products gained 2.45%; Broadcasting was up 2.03% and Media Diversified gained 1.91% today. Coal was the worst performing industry today. It was down -3.37%.
Today’s Market Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers) on the NYSE. The ratio of Decliners to Advancers was 1.07-to-1.0 or in practical terms, for every eleven Decliners there were ten Advancers. In real numbers, 2054 Decliners to 1913 Advancers with 299 Unchanged. The total volume of shares traded for gaining stocks was 539,419,841 or 57.3%; the total volume for declined stocks was 384,425,516 or 40.9% and 17,057,357 or 1.8% for “Unchanged”.
There were 251 new 52-Week Highs and 27 new 52-Week Lows. The market keeps rallying on. The rally remains intact.
The total volume of stocks traded at the NYSE today was 940,902,714 compared with 1,094,495,979 yesterday, a two percent decrease. Today’s volume of 940,902,714 is about one per cent higher than the average of the ten most recent market sessions.
On the NASDAQ, the Decliners prevailed over the Advancers today by a ratio of 1.45-to-1 or roughly for every seven Decliners there were five Advancers. In real numbers, there were 2,554 Decliners to 1,756 Advancers with 289 Unchanged. Given today’s market performance the rally is certainly on “Shaky legs”. The total volume of volume-gaining stocks was 2,467,865,871 or 49.2%; the total volume of declined-volume stocks was 2,522,056,449 or 50.2% and 29,522,425 or 0.6% for “Unchanged”.
There were 110 new 52-Week Highs and 90 new 52-Week Lows. The NASDAQ was negative today. It is becoming increasingly more negative. We need to wait a few sessions to determine if today was just a one-off correction day or the beginning of a new trend.
The total volume of stocks traded at the NASDAQ today was 5,019,444,745 compared to 5,534,420,916yesterday, a ten percent decrease. Today’s volume of 5,019,444,745 is lower than the average of the last ten market sessions.
Oil Price: Oil settled just above $78 today.
10 –year Treasury Yield: The US 10-year Treasury yield closed at 4.1% today, up slightly from 4.08% on Friday.
The market outlook is Uptrend At Risk – Markets are extended .
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
It is definitely time to take another, but positive look at the Canadian big six banks
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