The Canadian Vanguard Stock Market Report At Market Close – Thursday, March 14, 2024
.
Data Driven Market Analysis And Report For Smart Investors
The Toronto Market
The TSX declined -140.26 points or -0.64% to close today’s market session at 21,829.85. The TSX did an about face today, with the market being driven today largely by the US inflation report, the index literally reversed, truncating three consecutive sessions of gains. Yesterday the index gained 139 points, today the index declined -140 points closing well off the day’s lows. It was down -230 points, twenty minutes to the closing bell but rallied eighty nine points from then to the closing bell.
The TSX’s performance today was broad-based negative as nine of the ten major sectors ended the market session with declines. Energy, up 0.10%, was the only sector to end the market session in green. Technology declined -0.30%; Healthcare was down -0.35%; Industrials declined -0.42%; Utilities declined -0.64% while Financials declined -0.72% and Basic Materials declined -0.75. Telecommunications was the worst performing sector with -2.53% decline.
Computer Hardware industry was up 6.23%; Paper Products was up 2.66%; Coal was up 2.33%; Industry Machinery & Equipment was up 2.19% and Integrated Oil & Gas was up 1.75%. Advertising / Marketing was the worst performing industry, declining -4.57% during the session.
Today’s Statistics: The declined issues (Decliners) totally outnumbered the gaining issues (Advancers) today. The ratio of Decliners to Advancers was 2.64-to-1.0 or in practical terms, for every thirteen Decliners there were five Advancers. In real numbers, 1,087 Decliners to 412 Advancers with 104 Unchanged. The total volume of shares traded for gaining stocks was 155,229,573 or 39.8%; the total volume for declined stocks was 226,641,173 or 58.1% and 7,903,796 or 2.0 % for “Unchanged”.
There were 103 new 52-Week Highs and 17 new 52-Week Lows.
The total volume of stocks traded at the TSX today was 389,774,542 compared to 371,661,408 yesterday, roughly five percent increase. Today’s volume of 389,774,542 was five percent higher than the average of the ten most recent market sessions.
.
The US markets
Dow Jones Industrial Average declined -137.66 points, or -0.35%, to close at 38,905.66. The S&P 500 declined -14.83 points, or -0.29%, to close at 5,150.48. The Nasdaq Composite was down -49.24 points or -0.30%, to close at 16,128.53. The session was quite volatile, however, the indexes rallied with some good volume support during the last twenty minutes before the closing bell.
Energy was the leading sector at the US markets for the second straight session. The sector was up 0.47% today and was the only one with a gain today at the US markets. Technology was down -0.16%; Industrials was down -0.63%; Healthcare was down -0.66%. Utilities was down -0.75% while Basic Materials declined -0.95%.
Airport Services, up 1.95%, was the top performing industry. Yesterday, Airport Services gained 2.01%. Retail – Catalog & Internet Order was up 1%; Oil & Gas Drilling was up 1%; Oil & Gas Refining & Marketing was up 0.91% while Oil & Gas Exploration & Production was up 0.90%. Rail & Roads – Passengers, down -4.52%, was the worst performing industry.
Today’s Market Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers) on the NYSE. The ratio of Decliners to Advancers was 3.77-to-1.0 or in practical terms, approximately for every four Decliners there was one Advancer, quite bearish. In real numbers, 3,187 Decliners to 845 Advancers with 247 Unchanged. The total volume of shares traded for gaining stocks was 241,976,783 or 19.3%; the total volume for declined stocks was 994,548,432 or 79.2% and 18,971,742 or 1.5% for “Unchanged”.
There were 211 new 52-Week Highs and 78 new 52-Week Lows.
The total volume of stocks traded at the NYSE today was 1,255,496,957 compared with 1,173,949,580 yesterday, a seven percent increase. Today’s volume of 1,255,496,957 is about three 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 3.09-to-1 or roughly for every three Decliners there was one Advancer. In real numbers, there were 3,261 Decliners to 1,055 Advancers with 281 Unchanged. The total volume of volume-gaining stocks was 1,351,599,844 or 24.3%; the total volume of declined-volume stocks was 4,191,013,652 or 75.2% and 30,594,280 or 0.5% for “Unchanged”.
There were 96 new 52-Week Highs and 197 new 52-Week Lows. The NASDAQ was lopsidedly bearish today.
The total volume of stocks traded at the NASDAQ today was 5,573,207,776 compared to 4,987,114,726 yesterday, a twelve percent increase. Today’s volume of 5,573,207,776 is about six percent higher than the average of the last ten market sessions.
10 –year Treasury Yield: The US 10-year Treasury yield was at 4.283% as at the time of this posting 12:05 midnight Friday morning.
Market Outlook: The market outlook remains trade with caution. It is always a good idea to avoid adventurous trading when the treasury yield is climbing especially after a hot inflation report. The market today was bearish but is the rally dead? Maybe not. The indexes closed off session lows, regaining a good chunk of lost ground during the last twenty minutes. Good volume kicked in during those twenty minutes for all the indexes.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
It was a bearish market session. The banks could not get any traction during the session.
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
IMPORTANT NOTICE
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
