The Canadian Vanguard Stock Market Report at Close – Thursday, November 9, 2023

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Your Market Report And Analysis For Tomorrow’s Market Winning Trades And Profitable  Investing.

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The Toronto Market

The Toronto TSX composite today, ended a three day run of declines to close at 19,587.41, up 57.20 points or 0.29%.

                                                                                                                                         

Six of the ten major sectors of the TSX were up at today’s market session. Basic Materials was the top performing sector while Technology, the top performing sector during the last two sessions,  was the worst performing sector today.  Utilities gained 0.69%, Energy gained 0.64% and Financials gained 0.49%. The sectors with declines are Industrials -0.15%; Durable Consumer Goods & Services -0.75%; and Healthcare -1.25%.

Steel was the top performing industry leading with a 6.72% gain; Insurance – Multiline was up 4.83%; Semiconductors gained 4.52%; Paper Packaging gained 4.13% and Casinos & Gaming gained 3.79%.

Today’s Statistics: The declined issues (decliners) outnumbered the gaining issues (advancers) by a ratio of 1.37-to-1.00.  In real numbers, 819 decliners to 595 advancers with 176 Unchanged. The total volume of shares traded for gaining stocks was 179,959,018 or 55.3%; the total volume for declined stocks was 179,959,018 or 41.5% and 10,404,487 or 3.2% for “Unchanged”.

There were 49 new 52-Week Highs and 37 new 52-Week Lows. The bullish trend remains intact.

The total volume of stocks traded at the TSX today was 325,238,028 compared with 321,399,810 yesterday, practically no difference. Today’s volume of 325,238,028 is slightly above the average of the ten most recent market sessions.

The US Market

The Dow Jones Industrial Average closed down -220.33 points, or -0.65%, to close at 33,891.94. The S&P 500 was down -35.43 points, or -0.81%, to close at 4,347.35. The Nasdaq Composite declined -128.97 points or -0.94%, to close at 13,521.45. The indexes were all down today.

The NASDAQ hesitated around yesterday’s closing until around noon but it was downhill from there to the end of the market session. The decline picked speed after Mr. Powell‘s speech after his remarks about “If it becomes appropriate to tighten policy further, we will not hesitate to do so.” NASDAQ composite had been on the gaining streak for the past nine sessions.

The Dow Jones index never got higher than yesterday’s closing mark but it declined continuously from early afternoon until the closing bell. The S&P 500 snapped an eight-session winning streak.

Today’s Market Statistics: Today, the declined issues (decliners) outnumbered the gaining issues (advancers) on the NYSE. The ratio of decliners to advancers on the NYSE was 1.24-to-1. In real numbers, 2,912 decliners to 1,068 advancers with 212 “Unchanged”. The total volume of volume-gaining stocks was 229,971,976 or 24%; the total volume of declined-volume stocks was 722,766,353 or 75.3%; and 7,025,721 or 0.7% “Unchanged”. There were 64 new 52-Week Highs and 134 new 52-Week Lows.

The total volume of stocks traded on the NYSE today was 959,764,050 compared with 933,297,239 yesterday, a 2% increase; negligible. Today’s total volume, of 959,764,050 shares traded was higher than the average of the most recent ten-market sessions.

On the NASDAQ, the decliners outnumbered the advancers. There were 3,190 decliners to 1,084 advancers with 338 unchanged, a ratio of 2.94-to-1.  The total volume of volume-gaining stocks was 1,669,212,885 or 30.7%; the total volume of declined-volume stocks was 3,738,896,858 or 68.7% and 33,281,889 or 0.6% for “Unchanged”. There were 48 new 52-Week Highs and 324 new 52-Week Lows.

The total volume of stocks traded today was 5,441,391,632 compared to 4,482,556,568 yesterday, a 21% increase or one fifth higher volume. The volume of stocks traded today at 5,441,391,632 was fifteen times higher than the average volume of the ten most recent market sessions. The volume today tells us that there was considerable selling today.

The market outlook remains uptrend positive.

10 –year Treasury Yield:   The 10-year Treasury yield crept back up to 4.629%. The long term government bonds did not fare well today as investors were reluctant to buy long term yield for 4% plus when they can buy a 2-year bond for 5% plus.

 

Regular Market Day Features

Beginner Investor’s (Canadian stocks) Watchlist

The big five banks are back in an up trend. An experiment for the Adventurous – the next time you see RBC (TSX:RY) at $110.00 or CIBC (CM) at $49.00 or TD Bank (TD) at $78.00 or BMO at $103.00 you should consider buying a boat load, eighteen wheeler truck load or fill your basement, floor to ceiling with the shares. Of course be ready to sell after a few weeks and remember that the market will do whatever it chooses to do so you might be out of luck. Like all risky experiments, this particular experiment is academic only! It is an experiment for the most adventurous, most daring souls and not for the average investor looking to put something  away for the rainy day or for retirement years. Do NOT try this experiment even on a small scale except on paper and only if you choose to try it.

The good news are that

• the banks pay good dividends.
• the banks maybe considered  “too big to fail”.

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.

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