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Canada’s broad benchmark index, the S&P/TSX Composite, extended gains for the third straight day and added ~28 points or 0.17% to 16,562.81 on Friday. Basic materials, technology and industrials pushed the index higher. However, energy, financials and healthcare stocks pared some of the gains of the broader index.
5-day Daily Price Chart (as on October 09, 2020, after the market close). Source: EODHD/Others (Thomson Reuters)
From the technical standpoint, the index traded above all moving averages. The price/200-day simple moving average (SMA) ratio of the index stood at 1.048x, which implies that the index is trading approximately 5% above its long-term support level of 200-day SMA.
Further, the Moving Average Convergence Divergence is rising, with a positive difference between 12-day and 26-day Exponential Moving Average (EMA). The 14-day and 9-day Relative Strength Index is hovering in a neutral zone and mostly tilted towards the overbought zone.
At the last closing (as on October 09, 2020), TSX Composite traded at a Price-to-Earnings (PE) multiple of 17.94x, offering a dividend yield of 3.54% respectively.
Sector Summary*
Source: EODHD/Others (Thomson Reuters)
Stocks in Play*
Gainers: Eldorado Gold Corp (up 10.07%), Silvercrest Metals Inc (up 9.06%), and Dundee Precious Metals Inc (up 9.05%)
Losers: NFI Group Inc (down 4.87%), Celestica Inc (down 4.47%), and Air Canada (down 4.0%)
Volume Leaders: Toronto-Dominion Bank, Aurora Cannabis Inc. and Teck Resources Limited.
52W High: Cargojet Inc (up 4.08%), Canadian Pacific Railway Limited (up 0.74%) and MAG Silver Corp. (up 7.62%).
52W Low: Cineplex Inc. (down 6.4%), Financial 15 Split Corp. (down 2.33%) and Kelso Technologies Inc. (down 4.28%)
On Wall Street: Global benchmark indices of the Wall Street extended rally for the third consecutive day, with the price dominated the Dow Jones settled 0.57% higher at 28,586.0, the tech heavy Nasdaq Composite bagged 159 points or 1.4% to 11,579.94 and the S&P 500 index bagged 0.88% to 3,447.13, respectively.
Commodity News*
Gold Futures up for the second consecutive day and bagged 1.64% to US$ 1,926.20.
International Oil benchmark Brent Oil pared some of the previous gains and declined 1.13% to US$ 42.80/bbl and American Oil benchmark WTI Crude declined 1.43% against the previous close at US$ 40.60/bbl.
US Dollar Index settled lower for the third consecutive day, down 0.62% to 93.065.
*Details as on October 09, 2020 (after markets close)
