The Stock Market At Close – Monday, August 28
The Toronto Market
The Toronto TSX composite index soared 189.39 points or 0.95% to close at 20,025.14 today. The index crossed back over the 20,000 points mark. The only issue today and that is quite an important one, is the lower volume. The index’s gain was driven by Materials (Mining) companies and Energy sector companies. Volume was up today but was still below recent daily average.
All ten sectors of the TSX gained today. The market today had a broad based spread. The “good news” touched every segment of the market. The materials sector, which houses Canada’s major mining firms, added 1.3%, tracking higher metal prices. The heavily weighted financials gained 0.94%, while Technology gained 0.86%. The Energy sector closely followed with a gain of 0.81%. Utilities brought up the rear with a gain of 0.06% today.
Today’s Statistics: Today, the gaining issues (advancers) convincingly outnumbered the declined issues (decliners). The ratio of advancers to decliners was 3.92-to-1.00. In real numbers, 1,084 advancers to 276 decliners with 207 unchanged. There were 19 new 52-week highs and 17 new 52-week lows. The total volume of shares traded for gaining stocks was 192,777,660 or 83.1%; the total volume for declined stocks was 27,168,732 or 11.7% and 12,113,139 or 5.2% for “Unchanged”.
The total volume of stocks traded today was 232,059,531 compared to 219,099,415 on Friday. Volume was roughly 6% higher today than on Friday.
The US Market
The Dow Jones index gained 184.15 points, or 0.54%, to close at 34,472.98. The S&P 500 gained 48.46 points, or 1.10%, to close at 4,436.01. The Nasdaq Composite added 215.16 points, or 1.59%, to close at 13,721.03.
All ten sectors of the TSX gained today. The market’s positive mood today was broad based. The positive mood touched every segment of the market. Telecommunications Services was the best performing sector with a gain of 1.77%. Basic Materials sector, which houses Canada’s major mining firms, added 1.65%, tracking higher metal prices. Financials gained 1.07%. Energy gained 0.85% while Technology gained 0.63%. Utilities gained 0.34%.
Today’s Statistics: Today, the gaining issues (advancers) outnumbered the declined issues (decliners) on both the NYSE and NASDAQ. The ratio of decliners to advancers on the NYSE was 3.18-to-1. In real numbers, 2987 advancers to 939 decliners with 296 unchanged. There were 72 new 52-week highs and 45 new 52-week lows. The total volume of volume-gaining stocks was 555,488,965 or 61.0%; the total volume of declined-volume stocks was 130,666,921 or 37.1%; and 19,480,207 or 1.9% “Unchanged”.
The total volume of stocks traded on the NYSE today was 705,636,093 compared to 803,172,895 on Friday. Smart investors and traders may be staying away from the weak market. Volume today was down a significant 12%, twelve per cent, from Wednesday. The volume today on the NYSE was quite below the usual daily average. That of course, means any trend readings must be taken with the proverbial “grain of salt”. The market may totally reverse today’s course tomorrow.
On the NASDAQ, the ratio of advancers to decliners was 1.64-to-1. Compared to NYSE the ratio of decliners to advancers was higher on the NASDAQ. The advancers prevailed. In real numbers, 2,675 decliners to 1,630 advancers with 386 unchanged. There were 71 new 52-week highs and 177 new 52-week lows. The total volume of volume-gaining stocks was 2,174,565,967 or 58.2%; the total volume of declined-volume stocks was 1,528,916,587 or 40.9% and 33,044,126 or 0.9% for “Unchanged”.
The total volume of stocks traded today was 3,736,526,680 compared to 4,042,040,033 on Friday. The volume today was 7.6% lower compared to Friday.
10 –year Treasury Yield: The 10-year U.S. Treasury yield ticked lower to settle at 4.24% today. The 10-year yield is still too high.
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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