The Stock Market At Close – Tuesday, August 22
The Toronto Market
The Toronto TSX composite index continued its decline today. The index declined -93.66 points, or -0.5%, to close at 19,691.21. Today’s closing figure is the lowest for the TSX in about two months. The 5-year yield climbed 3.6 basis points to about 4.19%, its highest level in eleven years.
Only three sectors on the TSX gained today. Basic Materials gained 0.25%, Utilities gained 0.25% and Technology gained 0.15%. Industrials sector had the best performance among the decliners as it declined -0.11%. Energy declined -0.62% and Financials, which account for 29% of the Toronto market’s weighting declined -1.05%.The big banks will release their quarterly reports later this week.
According to a Reuters report today, one of its polls found that analysts are expecting that the TSX will rise less than previously expected over coming months and could see a correction as investors grapple with a slowdown in China and higher borrowing costs.
Today’s Statistics: Today, the declined issues (decliners) outnumbered the gaining issues (advancers). The ratio of decliners to advancers was 2.02-to-1.00. In real numbers, 441 advancers to 895 decliners with 223 unchanged. There were 15 new 52-week highs and 68 new 52-week lows. The total volume of shares traded for gaining stocks was 69,138,533 or 28.5%; the total volume for declined stocks was 165,334,688 or 68.1% and 8,140,260 or 3.4% for “Unchanged”.
The total volume of stocks traded today was 242,613,481 compared to 272,909,821 yesterday.
The US Market
The Dow Jones index fell 174.86 points, or 0.51%, to close at 34,288.83. The S&P 500 declined -12.22 points, or -0.28%, to close at 4,387.55. The Nasdaq Composite gained 8.28 points, or 0.06%, to close at 13,505.87.
Discretionary Consumer Goods & Services was the top gaining sector today as its gain of 1.05% was followed by Utilities with a gain of 0.27% and Basic Materials with a gain of 0.08%. Energy declined -0.68% as Oil price declined today. Technology neither gained nor declined. It remained even at today’s market session close.
The financial sector fell 0.98% and was the biggest drag on the S&P 500. An S&P downgrade of credit ratings of multiple regional U.S. lenders weighed on banks’ shares, with the KBW regional banking index sliding 2.7% and the S&P 500 banks index falling 2.4%.
Today’s Statistics: Today, the declined issues (decliners) outnumbered the gaining issues (advancers) on both the NYSE and NASDAQ. The ratio of decliners to advancers on the NYSE was 1.43-to-1. In real numbers, 1,613 advancers to 2,305 decliners with 289 unchanged. There were 48 new 52-week highs and 140 new 52-week lows. The total volume of volume-gaining stocks was 288,138,682 or 36.3%; the total volume of declined-volume stocks was 495,029,030 or 62.3%; and 11,608,100 or 1.5% “Unchanged”.
The total volume of stocks traded on the NYSE today was 794,775,812 compared to 855,693,333 yesterday.
On the NASDAQ, the ratio of advancers to decliners was 1.42-to-1 and difference was more pronounced than on the NYSE. In real numbers, 1786 decliners to 2,552 advancers with 394 unchanged. There were 49 new 52-week highs and 245 new 52-week lows. The total volume of volume-gaining stocks was 1,650,887,349 or 37.7%; the total volume of declined-volume stocks was 2,657,982,352 or 60.7% and 70,559,887 or 1.6% for “Unchanged”.
The total volume of stocks traded was 4,379,429,588 compared to 4,473,051,566 yesterday. The volume on the NASDAQ was down compared to recent daily average.
Oil and the money markets: U.S. crude oil prices fell 0.5% to $80.35 a barrel.
10 –year Treasury Yield: The 10-year Treasury yield fell 1 basis point to 4.33%, after hitting a fresh 15-year high of 4.36%.
Stocks In The News/Stocks To Watch
The Toronto Market
Celestica Inc. (TSX:CLS) was the top gainer on the TSX today. Celestica gained $1.06 or 3.78% to close at $29.11 with the total volume of shares traded today at 356.2k. The stock was building a flat base during the past one month. Celestica reported 13% Revs Growth In Most Recent Quarter; raised FY forecasts in late July, got two analyst upgrades in late July and is rated ‘Buy’ by six of seven analysts.
Regular Market Day Features
The Beginner Investor’s (Canadian stocks) Watchlist
The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
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