The Canadian Vanguard Stock Market Report At Close – Thursday, November 16, 2023
.
Your Market Report And Analysis For Tomorrow’s Market Winning Trades And Profitable Investing.
.
The Toronto Market
Today, the Toronto TSX composite index was down a marginal -4.82 points or -0.02% to close at 20,053.07. The index stayed above the 20,000.00 level.
Only four of the ten major sectors of the TSX were up today. Basic Materials was the top performing sector. Basic Materials gained 1.08%; Industrials gained 0.91%; Durable Consumer Goods & Services gained 0.66% and technology gained 0.40%.Financials declined -0.06%; Utilities declined -0.17%; Healthcare declined -1.19% while Energy declined -1.28%.
Hotels, Motels & cruise Lines was the top performing industry at the TSX today – it up was up convincingly at 4.76%. Commercials Services & Supplies was up 2.93%; Precious Metals & Minerals, following the basic Materials sector was up 2.51%. Media Diversified was up 1.95% while Fishing & Farming was up 1.72%.
Today’s Statistics: The gaining issues (advancers) outnumbered the declined issues (decliners) today. The ratio was 1.19-to-1.00 or for every six advancers there were five decliners (6 to 5). In real numbers, 762 advancers to 641 decliners with 204 “Unchanged”. The total volume of shares traded for gaining stocks was 115,519,202 or 33.9%; the total volume for declined stocks was 215,309,812 or 63.3% and 9,531,385 or 2.8% for “Unchanged”.
The total volume of stocks traded at the TSX today was 340,360,399 compared with 347,940,754 yesterday, a 39% increase in volume. Today’s volume of 340,360,399 is 10% higher than the average of the ten most recent market sessions.
There were 77 new 52-Week Highs and 28 new 52-Week Lows. The economy is showing signs of strains but nothing major here. It is so far, a little down here, a bit of a slow down over there type of story. May be there will be the recession will arrive in bits and pieces but still stubborn pieces after all.
The US Markets
The Dow Jones Industrial Average was down -45.74 points, or -0.13%, to close at 34,945.47. The S&P 500 was up 5.36 points, or 0.12%, to close at 4,508.24. The Nasdaq Composite gained 9.84 points or 0.07%, to close at 14,113.67. The market performance was driven by largely by corporate earnings results.
Five of the major sectors at the US markets were up today. Utilities was the top performing sector. There was no sector with big gains today. The sector gained 0.39%. Technology followed with a 0.33% gain. Healthcare gained 0.32%; Telecommunication Services gained 0.06% and Basic Materials gained 0.06%. Industrials declined -0.09%; Financials declined -0.18% and Durable Consumer Goods & Services declined -1.04%. Energy saw the steepest decline. The sector was down -2.01%. Oil declined today as US inventories was announced to be growing.
The top performing industry today was Precious Metals & Minerals with a gain of 1.52%. Insurance – Multiline followed with a gain of 1.2%; Restaurants gained 1.08% while Medical Equipment, Supplies & Distribution was up 1.03%.
Today’s Market Statistics: Today, the declined issues (decliners) outnumbered the gaining issues (advancers) on the NYSE. That is change from the past four market sessions. The ratio of decliners to advancers on the NYSE was 1.42-to-1, practically seven to five. In real numbers, 2,346 decliners to 1,654 advancers with 251 “Unchanged”. The total volume of volume-gaining stocks was 282,414,302 or 29.5%; the total volume of declined-volume stocks was 666,102,332 or 69.5%; and 10,304,061 or 1.1% “Unchanged”. There were 97 new 52-Week Highs and 46 new 52-Week Lows.
The total volume of stocks traded on the NYSE today was 958,820,695 compared with 1,137,666,664 on Tuesday, a 16% decrease. It is too early to say but the market is showing some bearish signs. Today’s volume of 958,820,695 shares traded was about the average of the most recent ten-market sessions. The market rally remains intact.
On the NASDAQ, the decliners outnumbered the advancers today. That is a reversal of recent trend. There were 2,844 decliners to 1,443 advancers with 357 unchanged, a ratio of 1.97-to-1 (two to one). The total volume of volume-gaining stocks was 1,573,477,269 or 33.7%; the total volume of declined-volume stocks was 3,054,774,810 or 65.4% and 42,604,500 or 0.9% for “Unchanged”. There were 49 new 52-Week Highs and 130 new 52-Week Lows.
The total volume of stocks traded on the NASDAQ today was 4,670,856,579 compared with 5,457,848,010 on Tuesday, a 15% decrease. The volume of stocks traded today at 4,670,856,579 was slightly lower than the average volume of the ten most recent market sessions.
10 –year Treasury Yield: The US 10-year yield slumped 8.8 basis points to 4.45%, while the two-year rate declined 6.8 basis points to 4.85%.
Oli and Currency: West Texas Intermediate crude oil sank 4.9% to $72.85 per barrel Thursday. Prices “plunged” due to growing inventories in the US.
Gold: Gold rose 1% to $1,984.60 per ounce, while silver added 1.2% to $23.83 per ounce.
Stocks In The News/Stocks To Watch:
The Toronto Market
Thomson Reuters Corp (TSX:TRI)has been a consistent performer. It is a stock to watch. The stock gained 3.07%, or $5.60 to close at $188.19 with 452.2K shares traded today on the TSX. The stock trades as (NYSE:TRI) on the NYSE exchange.
The US Markets
Cisco Systems (CSCO) shares tumbled 9.8%, the worst performer on all three benchmark indexes. Late yesterday, CISCO Systems lowered its fiscal 2024 financial outlook amid a slowdown in new product orders, even as it reported stronger-than-expected first-quarter results.
Today, Walmart (WMT) shares slipped 8.1%, the second-steepest decline on the S&P 500 and the Dow, after the retail giant raised its full-year outlook following a better-than-expected fiscal third quarter, but its earnings guidance fell short of Wall Street’s estimates.
Intel (INTC) was the best performer on all three indexes today, up 6.7%. Mizuho upgraded the stock to buy from neutral and adjusted its price target to $50 from $37.
Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
The big five Canadian big banks were kept to plus or minus 0.12% range, which really comes within the normal daily market noise range. In other words negligible effects. CIBC (CM) was up.
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
It was a tough market day for EV stocks today. Tesla (TSLA), Li Auto (LI), BYD (BYDDF) and XPeng (XPEV), all retreated. Tesla stock fell 3.8% to 233.59, tumbling back below the 50-day line.
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.
