The Canadian Vanguard Stock Market Report At Close – Thursday, January 11, 2024
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Your Market Report And Analysis For Tomorrow’s Market Winning Trades
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The Toronto Market
The TSX composite index declined -71.02 points or -0.34% to close today’s market session at 20,918.40. There is a change in the market character today – what we would consider typical or normal volume returned to the market today.
Oil price was up today. The Market reaction may have been influenced by news reports saying that Iran had seized an oil tanker in the Gulf of Oman on Thursday, contributing to higher oil prices.
Only half of the major sectors ended the market session with gains. Technology continues to feature prominently. Discretionary Consumer Goods & Services, up 0.78% during the market session, was the top performing sector today. Durable Consumer Goods & Services was up 0.76%; Technology followed with a gain of 0.49%; Energy was up 0.17%; Healthcare was up 0.12%. Basic Materials declined -0.30%; Telecommunications Services declined -0.41%; Industrials declined -0.49%; Financials was down -0.77% while Utilities declined -1.08%.
Retail – Apparel & Accessories up 19.51% was the top performing industry at the TSX today. Textiles & Leather Goods was up 16.67%; Paper Packaging was up 6.05%; Medical equipment, supplies & Distribution gained 2.40% and Pharmaceuticals – Generic & Specialty was up 1.57%.
Today’s Statistics: The declined issues (decliners) outnumbered the gaining issues (advancers) today. The ratio was 1.02-to-1.00 or roughly for every decliner there was an advancer. In real numbers, 723 decliners to 707 advancers with 117 Unchanged. The total volume of shares traded for gaining stocks was 115,808,829 or 36.2%; the total volume for declined stocks was 194,255,387 or 60.6% and 10,256,756 or 3.2% for “Unchanged”.
There were 142 new 52-Week Highs and 18 new 52-Week Lows. The market rally is aging but continues. The TSX appears quite hesitant to cross the 21,000 points level. Smart traders know to study and follow the market since traders cannot dictate to the market.
The total volume of stocks traded at the TSX today was 320,320,972 compared with 264,960,920 yesterday, a 8% increase. Today’s volume of 320,320,972 is about eight per cent higher than the average of the ten most recent market sessions.
The US Market
The Dow Jones Industrial Average was up 15.29 points, or 0.04%, to close at 37,711.02. The S&P 500 was down -3.21 points, or -0.07%, to close at 4,780.24. The Nasdaq Composite was advanced, without advancing, 0.53 points or 0.00%, to close at 14,970.19.
Only three of the major sectors in the US market gained during today’s market session. Technology, the top gainer was up 0.33%; Energy was up 0.16% and Discretionary Consumer Goods & Services was up 0.04%. Utilities was the worst performing sector today, down -2.12%; Telecommunications Services was down -1.32%; Financials was down -0.59%; Basic Materials and Healthcare were each down -0.36% and Industrials was down -0.33%.
Footwear, up 1.64% was the top performing industry today. Consumer electronics followed with 1.11% gain for the session, Diversified- trading and Distributing gained 1.035and Retail – catalog & Internet Order was up 0.91% while Tobacco was up 0.89%.
Today’s Market Statistics: Today, the declined issues (decliners) outnumbered the gaining issues (advancers) on the NYSE by a ratio of roughly six advancers for every five decliners or 1.16-to-1 numerically. In real numbers, 2,239 decliners to 1,731 advancers with 290 “Unchanged”. The total volume of volume-gaining stocks was 307,099,030 or 32%; the total volume of declined-volume stocks was 633,741,051 or 66.1%; and 18,067,185 or 1.9% “Unchanged”.
There were 209 new 52-Week Highs and 88 new 52-Week Lows. The current market rally is still alive.
The total volume of stocks traded today was 958,907,266 compared with 889,999,295 yesterday, an 8% increase. Today’s volume of 958,907,266 is about four per cent higher than the average of the ten most recent market sessions.
On the NASDAQ, the decliners outnumbered the advancers by a ratio of roughly thirteen decliners to every ten advancers or a ratio of 1.3 -to-1 in numbers. There were 2,703 decliners to 1,586 advancers with 318 unchanged. The total volume of volume-gaining stocks was 1,907,726,332 or 36.5%; the total volume of declined-volume stocks was 3,249,727,150 or 62.1% and 74,376,588 or 1.4% for “Unchanged”.
There were 112 new 52-Week Highs and 138 new 52-Week Lows.
The total volume of stocks traded at the TSX today was 5,381,917,286 which is just about normal volume for the NASDAQ indicating more investors returned to the market today.
The market outlook remains uptrend positive.
10 –year Treasury Yield: The 10-year Treasury yield edged up to 4.04% from 4.03% on Wednesday.
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Stocks In The News/Stocks To Watch
The Toronto Market
The top performer today on the TSX is Aritzia Inc. (TSX:ATZ), the vertically integrated creator and purveyor of Everyday Luxury – Canada’s Louis Vuitton. A number of analysts raised the price target for Aritzia after the company announced its Q3 report today. ATZ stock vaulted up in price closing today up 20.97% or $5.55 to lose at $32.01. The volume of shares traded was 2.95M.
Canadian Imperial Bank of Commerce (TSX:CM) declined today with relatively heavy volume. The volume of shares traded was 115% of yesterday’s volume.
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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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