Month: December 2019

Dear Friends,

Tangents: Full Moon tonight!

Ratno Sardi
Above, part of a painting found in a cave in Indonesia that is at least 43,900 years old. In a paper published on Wednesday, scientists said it’s “the oldest pictorial record of storytelling and the earliest figurative artwork in the world.”

Frank Sinatra, b. 1915.
Gustave Flaubert, b. 1821

Our ignorance of history makes us libel our own times. People have always been like this. -Gustave Flaubert.

1998 – The House Judiciary Committee approved a fourth article of impeachment against President Bill Clinton and submitted the case to the full House.  Go to article »

PHOTOS OF THE DAY

A walker stands at the trig point at the Cowper Stone end of Stanage Edge to watch the moon rise.
CREDIT: CHARLOTTE GRAHAM

A life size king mannequin of Anne of Cleves, the fourth wife of King Henry VIII, is gently brushed and cleaned as part of the cleaning and maintenance of exhibitions at Sudeley Castle in Winchcombe, Gloucestershire. Katherine Parr, the last and surviving wife of King Henry VIII, lived, died and is buried within the grounds of the castle.
CREDIT: BEN BIRCHALL/PA

A girl goes  to school just before sunrise in Frankfurt, Germany.
CREDIT: AP PHOTO/MICHAEL PROBST

Market Closes for December 12^th, 2019  

Market Index	Close	Change
Dow Jones	28132.05	+220.75
		+0.79%
S&P 500	3168.57	+26.94
		+0.86%
NASDAQ	8717.316	+63.265 +0.73%
TSX	16946.90	+7.29
		+0.04%

 

 

 

 

 

 

 

 

 

 

International Markets

 

Market Index	Close	Change
NIKKEI	23424.81	+32.95
		+0.14%
HANG SENG	26994.14	+348.71
		+1.31%
SENSEX	40581.71	+169.14
		+0.42%
FTSE 100*	7273.47	+57.22 +0.79%

Bonds

 

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.670	1.582
CND. 30 Year Bond	1.753	1.681
U.S.    10 Year Bond	1.8922	1.7914
U.S. 30 Year Bond	2.3110	2.2263

Currencies

 

BOC Close	Today	Previous
Canadian $	0.75853	0.75915
US $	1.31834	1.31727
Euro Rate 1 Euro=		Inverse
Canadian $	1.46785	0.68127
US $	1.11340	0.89815

Commodities

 

Gold	Close	Previous
London Gold Fix	1466.80	1464.95
Oil
WTI Crude Future	59.18	58.76

Market Commentary:
On this day in 1914, the New York Stock Exchange reopened after closing in July amid jitters over the outbreak of World War I. By the end of 1915, the stock market had risen nearly 82% as Western Europe supplied its war effort with American-made goods and weapons.
Canada
By Michael Bellusci and Bloomberg Automation
(Bloomberg) — Canadian stocks rose Thursday for the first time this week as Bloomberg reported that U.S. negotiators reached terms for a phase-one trade deal with China that awaits President Trump’s approval. The S&P/TSX Composite advanced slightly to 16,946.90 in Toronto. Health care stocks led six of 11 sectors higher. Barrick Gold Corp.’s chief said the gold miner has the financial heft it needs to support its loftiest ambitions — and someday those might include a merger with Freeport-McMoRan Inc. Meanwhile, Bank of Canada Governor Stephen Poloz said he expects global interest rates to remain low for years, due to the effects of structural forces such as sluggish productivity and population growth.
Commodities
* Western Canada Select crude oil traded at a $22.00 discount to WTI, the widest gap in more than a month
* Spot gold fell 0.3% to $1,469.79 an ounce
FX/Bonds
* The Canadian dollar edged lower to C$1.3181 per U.S. dollar
* The 10-year government bond yield jumped 8.6 basis points to 1.669%
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Health Care | 12.4652| 5.7| 6/4
Energy | 12.0573| 0.4| 27/5
Consumer Discretionary | 6.7348| 0.9| 13/3
Financials | 5.7901| 0.1| 16/11
Materials | 3.1264| 0.2| 25/24
Industrials | 1.6182| 0.1| 16/16
Information Technology | -0.9552| -0.1| 4/5
Communication Services | -3.2685| -0.3| 2/5
Utilities | -8.7387| -1.1| 0/16
Real Estate | -10.0473| -1.8| 0/24
Consumer Staples | -11.5077| -1.7| 0/10
US
By Claire Ballentine and Vildana Hajric
(Bloomberg) — U.S. stocks rose to records as optimism grew that the Trump administration will clinch a deal with China on trade and avert fresh tariffs. The pound fell ahead of the first exit polls in the U.K. general election. The S&P 500 rallied after a Bloomberg report that U.S. officials had reached a deal in principle that only needed Trump’s approval. The president held an afternoon meeting with trade advisers, and a deal could be announced as soon as today, according to people briefed on the plans. A potential deal would likely prevent fresh levies due to take hold Sunday. A breakthrough on trade would remove a major overhang for equity investors just a day after the Federal Reserve signaled it is no rush to raise interest rates as the economy shows steady improvement. Trade headlines whipsawed stocks all day, as investor optimism rose and fell with the latest negotiation-by-tweet.
“With the deadline coming up here in a few days, it’s not entirely a surprise that they are getting close to a deal or closing in on a deal,” said Ryan Nauman, a market strategist at Informa Financial Intelligence’s Zephyr. “I still would like to see signatures on paper before I completely jump in in terms of enthusiasm that a deal is done.” Thursday’s gain in American stocks pushed the MSCI All- Country index to its first record since January 2018. The spike in Treasury yields boosted financial stocks, lifting the S&P 500 Financial index past its closing high from May 2007. In Europe, the central bank said it would maintain bond buying and keep rates low until it gets near its inflation goal. The Swiss franc nudged higher after the central bank left rates unchanged. The pound fell as U.K. voters went to the polls. Elsewhere, Saudi Aramco shares jumped for a second day, pushing the oil giant’s value beyond the $2 trillion mark. Oil futures rose. The lira gained as the Turkish central bank delivered another interest-rate cut that exceeded forecasts.
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.9% at 4 p.m. New York time.
* The Dow Jones Industrial Average jumped 0.8%.
* The Stoxx Europe 600 Index rose 0.3%.
* The MSCI All-World Index rose 0.8% to a record.
* The MSCI Asia Pacific Index rose 0.6%.
Currencies
* The Bloomberg Dollar Spot Index was flat.
* The euro was flat at $1.113.
* The British pound lost 0.2% to $1.3166.
* The Japanese yen fell 0.7% to 109.35 per dollar.
Bonds
* The yield on 10-year Treasuries rose 11 basis points to 1.897%.
* The two-year Treasury rate added five basis points to 1.66%.
* Germany’s 10-year yield spiked to -0.27%.
Commodities
* West Texas Intermediate crude climbed 0.9% to $59.31 a barrel.
* Gold futures fell 0.1% to $1,474.20 an ounce.
–With assistance from Jeremy Herron and Sam Potter.
Have a great night.

Be magnificent!
As ever,

Carolann

Don’t count the days, make the days count.
                                                   -Muhammad Ali, 1942-2016

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents:
1936~ Edward VIII abdicates to marry Wallis Simpson.
On Dec. 11, 1941, Germany and Italy declared war on the United States; the U.S. responded in kind. Go to article »

Plants may let out ultrasonic squeals when stressed. (h/t Ellen Kominers)-Bloomberg.

The next generation is on it.

Time named the climate activist Greta Thunberg as its person of the year, the youngest ever in the magazine’s history. The 16-year-old from Stockholm has risen to global prominence with her impassioned pleas for governments to take far-reaching action to avert climate catastrophe.-The New York Times.

PHOTOS OF THE DAY

Prince Charles attends the official commissioning ceremony of HMS Prince of Wales in Portsmouth.
CREDIT: ARTHUR EDWARDS – WPA POOL/GETTY IMAGES

The Banksy mural at the Jeweller Quarter, Birmingham, being covered in Perspex after being defaced by a vandal who sprayed red noses on the reindeer.
CREDIT: ANITA MARIC/SWNS

A group of female priests perform in Banco National Park in Abidjan during the opening of the first Green Arts Biennale.
CREDIT: SIA KAMBOU/AFP VIA GETTY IMAGES

Market Closes for December 11^th, 2019  

Market Index	Close	Change
Dow Jones	27911.30	+29.58
		+0.11%
S&P 500	3141.63	+9.11
		+0.29%
NASDAQ	8654.051	+37.867 +0.44%
TSX	16939.61	-11.09
		-0.7%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	23391.86	-18.33
		-0.08%
HANG SENG	26645.43	+208.81
		+0.79%
SENSEX	40412.57	+172.69
		+0.43%
FTSE 100*	7216.25	+2.49 +0.03%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.582	1.600
CND. 30 Year Bond	1.681	1.703
U.S.    10 Year Bond	1.7914	1.8346
U.S. 30 Year Bond	2.2263	2.2574

Currencies

BOC Close	Today	Previous
Canadian $	0.75915	0.75574
US $	1.31727	1.32320
Euro Rate 1 Euro=		Inverse
Canadian $	1.46670	0.68180
US $	1.11344	0.89812

Commodities

Gold	Close	Previous
London Gold Fix	1464.95	1461.70
Oil
WTI Crude Future	58.76	59.24

Market Commentary:
On this day in 2008, fund adviser Bernard Madoff was arrested by federal agents, accused in separate SEC and FBI complaints of a multibillion-dollar fraud
Canada
By Michael Bellusci and Bloomberg Automation
(Bloomberg) — Canadian equities ended Wednesday slightly lower while U.S. stocks rose after the Federal Reserve’s latest policy meeting and outlook. The S&P/TSX Composite fell to 16,939.61 in Toronto. Real estate was Canada’s worst-performing group, with the S&P/TSX Composite Index Real Estate Index losing 2.4%, the most since December of 2018, and closing at a session low. Glass Lewis recommended shareholders vote against Great Pacific Capital‘s proposal to take Canfor Corp. private. Also, Canada’s banks ended the year with their weakest earnings growth since 2016. And there may be little improvement next year, as rising loan losses and eroding margins hurt bottom lines.
Commodities
* Western Canada Select crude oil traded at a $21.50 discount to WTI
* Spot gold rose 0.7% to $1,474.98 an ounce
FX/Bonds
* The Canadian dollar rose 0.4% to C$1.3176 per U.S. dollar
* The 10-year government bond yield fell 1.6 basis points to 1.584%
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Real Estate | -14.1973| -2.4| 0/24
Energy | -11.5413| -0.4| 8/24
Financials | -9.0487| -0.2| 9/18
Consumer Discretionary | -3.6880| -0.5| 5/10
Utilities | -2.6960| -0.3| 5/11
Consumer Staples | -2.5977| -0.4| 1/9
Health Care | -1.8503| -0.8| 1/9
Communication Services | 1.4876| 0.2| 5/2
Information Technology | 2.9714| 0.3| 5/4
Industrials | 4.2365| 0.2| 14/17
Materials | 25.8413| 1.4| 37/12
US
By Sarah Ponczek and Vildana Hajric
(Bloomberg) — U.S. stocks rose with Treasuries, while the dollar fell after the Federal Reserve left interest rates unchanged and its chairman signaled it would keep policy “somewhat accommodative.” The S&P 500 halted a two-day slide as the central bank’s decision fueled bets that the bar for an increase in rates remains high even as economic growth is steady. The 10-year Treasury rate fell below 1.8%. The Fed, in its first unanimous vote since May, said it will continue to monitor the implications of data for the economic outlook “including global developments and muted inflation pressures.” Fed Chairman Jerome Powell said the central bank will keep rates where they are unless there’s a meaningful change in the outlook.
“It’s ‘steady as she goes’ from the Fed today,” said Jason Pride, chief investment officer of private wealth at Glenmede Trust. “This accommodative stance should provide a measure of support for risk assets heading into the new year.” Equity gains had been muted throughout the session as investors kept an eye out for trade headlines. The Dow Jones Industrial Average was little changed amid more trouble for Boeing Co.’s Max plane and Home Depot Inc.‘s weak forecast. Crude slipped after U.S. inventory data. With the world’s top two economies still wrangling over an interim deal, Thursday may bring news as Trump is expected to meet with his trade team, according to people familiar with the talks.
Here are some other key events to watch:
* Brazil’s central bank also decides on interest rate.
* The next European Central Bank policy meeting is on Thursday.
* The U.K. holds a general election Thursday.

And these are the main market moves:
Stocks
* The S&P 500 Index gained 0.3% at 4 p.m. New York time.
* The Nasdaq Composite Index advanced 0.6%.
* The Dow Jones Industrial Average was up 0.1%.
* The MSCI All-Country World Index climbed 0.4%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.4%.
* The Japanese yen rose 0.2% to 108.55 per dollar.
* The euro added 0.3% to $1.1131.
Bonds
* The yield on two-year Treasuries lost three basis points to 1.62%.
* The yield on 10-year Treasuries fell five basis points to 1.79%.
* Germany’s 10-year yield declined two basis points to -0.32%.
Commodities
* West Texas Intermediate crude fell 0.7% to $58.84 a barrel.
* Gold futures advanced 0.8% to $1,479.50 an ounce.
* Brent crude gained lost 1.1% to $63.62 a barrel.
–With assistance from Claire Ballentine.
Have a great night.

Be magnificent!

As ever,

Carolann

If faith asks, it will receive; if hope seeks, it will find;
and if love knocks, the door will be opened to it.
                     -Charles Spurgeon, 1834-1892

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents:
Birthday: Emily Dickinson, b. December 10,1830.

There’s a certain
Slant of light,
Winter Afternoon
That oppresses,
like the Heft Of
Cathedral Tunes
-Emily Dickinson.

1998 – Six astronauts opened the doors to the new international space station.  Go to article »

China’s experimental cancer cure offers hope — and hidden dangers. -Bloomberg.

Haemin Sunim was a frustrated graduate student when a friend told him the solution was to “be good to yourself first — then to others.” Now a Buddhist monk, he espouses the power of self-care through Buddhist teachings.

He offers five easy steps to quiet the mind: Breathe, accept, write, talk, walk.

“Even if you feel there are many things in your life that are imperfect,” he says, “if you look at them in a compassionate way, you discover that imperfection, in and of itself, is beautiful and has meaning.”

Have a transcendent night.

-from The New York Times

PHOTOS OF THE DAY

Members of Dance Centre Kenya (DCK) perform during a production of the ‘Nutcracker’, a ballet primarily performed during the Christmas period as their annual show, along with the Nairobi Philharmonic Orchestra with foreign guest musicians at the National Theater in Nairobi. DCK, founded by passionate families in early 2015, teach over 700 students at 3 studios in Nairobi, and provides lessons based on the Royal Academy of Dance Syllabus. Selected students in various schools and slums receive scholarships to promote developing their talent.
CREDIT: YASUYOSHI CHIBA/AFP VIA GETTY IMAGES

People take a ride in a vintage subway car during Holiday Nostalgia Rides in New York’s subway, the United States. Every Sunday between Thanksgiving and New Year, vintage 1930’s R1-9 trains will be placed in regular New York City subway service on specific routes during the annual Holiday Nostalgia Rides, taking passengers back into old times.
CREDIT: XINHUA/WANG YING

Travellers were surprised when they were invited to enjoy the an impromptu pantomime performance on a train between London Paddington and Heathrow Airport. Rather than treading the boards, Prince Charming could be seen riding the rails and running the aisles of a Heathrow Express carriage in search of travellers to try on the famous glass slipper. Meanwhile, Cinderella was busy avoiding the ugly sisters and desperately trying to get her tickets to the ball stamped by the on board team. The performance was held by the Natural Theatre Company, and has been specially scripted to last just 15 minutes- the duration of the Heathrow Express Journey between London Paddington Station and Heathrow Terminals 2 and 3 in London.
CREDIT: SWNS

Trekkers look through fog as it covers landscapes at Mount kupe in Seydisehir district of Konya, Turkey.
CREDIT: FAHRI KUBILAY/ANADOLU AGENCY VIA GETTY IMAGES

Market Closes for December 10^th, 2019  

Market Index	Close	Change
Dow Jones	27881.72	-27.88
		-0.10%
S&P 500	3132.52	-3.44
		-0.11%
NASDAQ	8616.184	-5.643 -0.07%
TSX	16950.70	-0.15
		—

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	23410.19	-20.51
		-0.09%
HANG SENG	26436.62	-58.11
		-0.22%
SENSEX	40239.88	-247.55
		-0.61%
FTSE 100*	7213.76	-20.14 -0.28%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.600	1.587
CND. 30 Year Bond	1.703	1.699
U.S.    10 Year Bond	1.8346	1.8190
U.S. 30 Year Bond	2.2574	2.2546

Currencies

BOC Close	Today	Previous
Canadian $	0.75574	0.75553
US $	1.32320	1.32358
Euro Rate 1 Euro=		Inverse
Canadian $	1.46820	0.68110
US $	1.10958	0.90124

Commodities

Gold	Close	Previous
London Gold Fix	1461.70	1459.65
Oil
WTI Crude Future	59.24	59.02

Market Commentary:
On this day in 1984, Sandy Lerner and Leonard Bosack—two professors in different academic departments at Stanford who were frustrated by their difficulty in communicating by computer—founded Cisco Systems to make improved network switching equipment.
Canada
By Michael Bellusci
(Bloomberg) — Canadian stocks were flat Tuesday while U.S. peers were slightly lower. The S&P/TSX Composite declined slightly to 16,950.70 in Toronto. Marijuana stocks were among the weakest performers Tuesday, and things are expected to get worse before they get better in 2020. Meanwhile, House Democrats embraced the U.S.-Mexico-Canada trade agreement after securing key revisions and announced plans to vote on the deal next week, putting President Donald Trump closer to a political win as he heads into the 2020 election.
Commodities
* Western Canada Select crude oil traded at a $20.10 discount to WTI
* Spot gold rose 0.2% to $1,464.46 an ounce
FX/Bonds
* The Canadian dollar flat around C$1.3232 per U.S. dollar
* The 10-year government bond yield rose 1.1 basis points to 1.599%
Insights
* This quarter, the index rose 1.8%
* This year, the index rose 18%, heading for the best year in at least 10 years
* The S&P/TSX Composite is 1% below its 52-week high on Nov. 28, 2019 and 23% above its low on Dec. 24, 2018
* The S&P/TSX Composite is up 0.3% in the past 5 days and rose 0.4% in the past 30 days
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Communication Services | -7.8542| -0.8| 2/5
Financials | -4.5949| -0.1| 11/16
Information Technology | -4.2610| -0.5| 3/6
Health Care | -3.8695| -1.7| 4/5
Utilities | -0.8591| -0.1| 9/7
Consumer Staples | -0.4419| -0.1| 4/6
Real Estate | 1.5815| 0.3| 17/7
Consumer Discretionary | 1.9665| 0.3| 9/7
Industrials | 2.1472| 0.1| 16/16
Materials | 7.9885| 0.4| 28/20
Energy | 8.0354| 0.3| 22/10
US
By Vildana Hajric and Claire Ballentine
(Bloomberg) — U.S. stocks fell for a second day as investors pulled back ahead of the Federal Reserve rate decision, U.K. election and Sunday’s tariff deadline. Treasuries slipped. The S&P 500 Index fluctuated for most of the day before ending lower. Trade took center stage, with investors debating whether China and the Trump administration will reach a meaningful trade deal to avert fresh tariffs. Multiple reports indicated a delay was likely, before administration officials said the outcome depends on how talks progress. The two sides say a partial deal remains within reach, though the contours have not been made clear. Crude rose. “The trade talks and headlines are going to be very fluid this week,” said Ryan Nauman, market strategist at Informa Financial Intelligence’s Zephyr. “You’ve got a lot of stuff going on this week, just a lot of information that traders are having to contend with. But trade talks and headwinds are definitely driving risk-on or risk-off trades right now.”
In other trade news, Canada, Mexico and the U.S. moved toward an agreement that appeared to have legislative support in each of the countries. Mexico’s peso was little changed. “Those three countries are highly dependent on each other so I don’t think there likely to be anything that is that far away from where we’re at,” said Jim Besaw, chief investment officer at GenTrust. Trade continued to dominate sentiment on equity markets, with the dispute between the world’s two largest economies taking much of the blame for a slowdown in global growth. The spat is overshadowing a spate of central bank meetings this week, including the Federal Reserve gathering Wednesday. House Democrats are expected to unveil impeachment charges later Tuesday against President Donald Trump. The pound rose ahead of a key political poll and just two days before a general election dominated by Brexit. The euro advanced while European bonds drifted lower after French and German economic data beat expectations.
Here are some key events to watch this week:
* The Federal Reserve decides on interest rates on Wednesday, followed by a press briefing from Chairman Jerome Powell.
* The next European Central Bank policy decision is on Thursday.
* The U.K. holds a general election Thursday.

These are some of the main moves in markets:
Stocks
*The S&P 500 Index fell 0.1% at 4 p.m. New York time.
*The Nasdaq Composite Index lost 0.1%.
*The Dow Jones Industrial Average dropped 0.1%.
*The MSCI All-Country World Index was flat.
Currencies
*The Bloomberg Dollar Spot Index fell 0.1% to 1,199.25.
*The Japanese yen fell 0.2% at 108.75 per dollar.
*The euro added 0.2% to $1.1085.
Bonds
*The yield on two-year Treasuries rose four basis points to 1.65%.
*The yield on 10-year Treasuries climbed two basis points to
*1.84%, the highest in almost four weeks.
*Germany’s 10-year yield gained one basis point to -0.30%.
Commodities
*West Texas Intermediate crude climbed 0.5% to $59.32 a barrel, its sixth consecutive advance.
*Gold futures added 0.3% to $1,469.20 an ounce.
*Brent crude gained 0.3% to $64.43 a barrel.
–With assistance from Sarah Ponczek.
Have  a great night.

Be magnificent!

As ever,

Carolann

You are never too old to set another goal or to dream a new dream.
                                                              -C.S. Lewis, 1898-1963

We turn not older with the years, but newer every day.
                                                       -Emily Dickinson, 1830-1886.

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents:

Finally got to watch The Irishman on the weekend, Martin Scorsese’s latest tour de force.  The acting performances of DeNiro, Pesci and Pacino are nothing short of brilliant.  It’s now on Netflix, so you don’t have to see it in one sitting, which, given its length, would be a challenge.

It was definitely a year of discovery: Scientists unearthed 71 new species of plants and animals in 2019. –CNN

 On Dec. 9, 2000, the United States Supreme Court voted, 5 to 4, to stop the vote counting in Florida, ending Vice President Al Gore’s presidential hopes. Go to article »

PHOTOS OF THE DAY

Performers dressed as the Krampus creature parade through the city centre of Dobbiaco in Bolzano, Italy.
CREDIT: SIMONE PADOVANI/AWAKENING/GETTY IMAGES

Participants during the Whitby Krampus Run street parade, which celebrates the Krampus, a horned creature who accompanies Saint Nicholas on his rounds. The event at Whitby is the very first to celebrate this folklore character in the UK.
CREDIT: DANNY LAWSON/PA

Demonstrators wearing ‘Pepe the Frog’ and other masks stand during a demonstration in the Wan Chai district of Hong Kong, China, on Sunday, Dec. 08, 2019. Hong Kong saw its biggest pro-democracy protest in months on Sunday, signaling more unrest to come in 2020 as the movement that began in June to fight China’s increasing grip on the city shows it staying power.
CREDIT: IVAN ABREU/BLOOMBERG

Market Closes for December 09^th, 2019  

Market Index	Close	Change
Dow Jones	27909.60	-105.46
		-0.38%
S&P 500	3135.96	-9.95
		-0.32%
NASDAQ	8621.828	-34.700 -0.40%
TSX	16950.85	-46.12
		-0.27%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	23430.70	-76.30
		-0.33%
HANG SENG	26494.73	-3.64
		-0.01%
SENSEX	40487.43	+42.28
		+0.10%
FTSE 100*	7233.90	-5.76 -0.08%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.587	1.579
CND. 30 Year Bond	1.699	1.682
U.S.    10 Year Bond	1.8190	1.8381
U.S. 30 Year Bond	2.2546	2.2795

Currencies

BOC Close	Today	Previous
Canadian $	0.75553	0.75418
US $	1.32358	1.32595
Euro Rate 1 Euro=		Inverse
Canadian $	1.46447	0.68284
US $	1.10645	0.90379

Commodities

Gold	Close	Previous
London Gold Fix	1459.65	1475.95
Oil
WTI Crude Future	59.02	59.20

Market Commentary:
On this day in 1906, Grace Murray Hopper (née Grace Brewster Murray) was born in New York City.  She later served in the U.S. Navy, rising to the rank of Rear Admiral, and invented the COBOL computer language, one of the first software programs enabling computers to be used by non-mathematicians. She also invented the term “bug” for an electronic glitch when, in 1945, she opened a malfunctioning computer and captured a moth that had been fluttering around inside of it and causing electrical relays to fail.
Canada
By Michael Bellusci and Bloomberg Automation
(Bloomberg) — Canadian equities fell Monday despite the Trump administration and House Democrats reaching a tentative deal on the U.S.-Mexico-Canada trade agreement. The S&P/TSX Composite fell 0.3% at 16,950.85 in Toronto. The move follows the previous session’s increase of 0.8%. Seven of eleven sectors dropped, while Canopy Growth Corp.’s 14% surge lifted marijuana stocks higher after the company named a new CEO. Meanwhile, Hudson’s Bay Co. disparaged a shareholder advisory firm’s report that came out against Chairman Richard Baker’s plan to take the retailer private, calling the study “flawed” and reiterating a call to support the deal.
Commodities
* Western Canada Select crude oil traded at a $20.00 discount to WTI
* Spot gold rose 0.1% to $1,460.00 an ounce
FX/Bonds
* The Canadian dollar strengthened 0.2% to C$1.3232 per U.S. dollar
* The 10-year government bond yield rose 1.5 basis points to 1.595%
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -25.4023| -0.5| 7/20
Industrials | -11.6903| -0.6| 9/23
Materials | -6.1959| -0.3| 17/30
Consumer Discretionary | -5.5937| -0.8| 5/10
Information Technology | -5.0888| -0.5| 4/5
Consumer Staples | -2.2838| -0.3| 4/6
Communication Services | -2.1479| -0.2| 1/6
Real Estate | 0.5318| 0.1| 17/8
Utilities | 1.2394| 0.2| 10/5
Energy | 1.4166| 0.1| 18/12
Health Care | 9.0974| 4.2| 9/1
US
By Sam Potter
(Bloomberg) — U.S. stocks fell in thin trading as investors turned cautious ahead of a week full of potential catalysts, from central bank meetings to a looming tariff deadline. Treasury 10-year notes held modest gains. The S&P 500 ended at session lows in volumes below the 30-day average. Weak China export data added to concern, with investors awaiting news on whether Washington will go ahead with a planned Dec. 15 tariff hike. The Stoxx Europe 600 Index retreated. Stock indexes posted modest increases in Tokyo and Seoul, though gains mostly fizzled in Hong Kong and Shanghai. The pound edged higher as polls continued to show the U.K. Conservative Party on course to win a majority in Thursday’s election, which would likely mean Britain leaving the European Union by Jan. 31. Gold and the yen were also slightly higher. With time running out for the U.S. and China to reach a deal that would ward off an escalation in tariffs, markets will be watching closely for any signs of progress.
White House economic adviser Larry Kudlow said Friday the two sides are haggling over the amount of American farm products Beijing is willing to purchase. Data showed China’s exports fell 1.1% in November, with those to the U.S. tumbling 23%, underscoring why the Asian nation may want to resolve the dispute. “There’s no upside risks on the horizon,” Katrina Ell, an economist at Moody’s Analytics, said on Bloomberg TV. “It is weighted to the downside and that big downside risk is coming from the trade war.” Also in focus for investors this week will be central banks, with policy meetings at the Federal Reserve and the European Central Bank that may offer clues on whether more monetary easing is in store in 2020. Elsewhere, oil slipped, trimming last week’s rally spurred by Saudi Arabia promising significant additional production cuts beyond what was agreed with fellow OPEC+ members.
Here are some key events to watch this week:
* The Federal Reserve decides on interest rates on Wednesday, followed by a press briefing from Chairman Jerome Powell.
* China reports on inflation Tuesday, and data on credit growth is due at some point in the coming week
* The next European Central Bank policy decision is on Thursday.
* The U.K. holds a general election Thursday.

These are some of the main moves in markets:
Stocks
*The S&P 500 Index declined 0.3% to 3,135.96 as of 4 p.m. New York time.
*The Nasdaq Composite Index fell 0.2% to 8,636.72.
*The Dow Jones Industrial Average decreased 0.3% to 27,942.76.
*The MSCI All-Country World Index dipped 0.1% to 547.84.
Currencies
*The Bloomberg Dollar Spot Index fell 0.1% to 1,199.94.
*The Japanese yen was little changed at 108.62 per dollar.
*The euro was little changed at $1.1065.
Bonds
*The yield on two-year Treasuries gained one basis point to 1.62%, the highest in more than a week.
*The yield on 10-year Treasuries dipped one basis point to 1.83%.
*Germany’s 10-year yield fell two basis points to -0.31%.
*Italy’s 10-year yield decreased eight basis points to 1.276%, the lowest in more than a week.
Commodities
*West Texas Intermediate crude fell 0.4% to $58.97 a barrel, the biggest fall in more than a week.
*Gold futures were flat at $1,465.10 an ounce.
*Brent crude fell 0.4% to $64.12 a barrel, the biggest fall in more than a week.
–With assistance from Vildana Hajric.
Have a great night.

Be magnificent!
As ever,

Carolann

We generate fears while we sit. We overcome  them by action.
                                                  –Dr. Henry Link, 1889-1952

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents: Happy Friday!

St. Nicholas Day, Europe.
1865: 13^th Amendment ratified, slavery abolished.

“The majority of people didn’t wake up one day and go, ‘Let’s free the slaves.’  The majority of people didn’t wake up one day and say,  ‘Let’s give women the right to vote.’  It’s because a small group of people usually considered outrageous radicals by the status quo of their day had a better idea.  That’s how evolution works.” -Marianne Williamson.

1861~James Naismith, the inventor of basketball, was born in Ontario, Canada. Go to article »

PHOTOS OF THE DAY

The pagan tradition of Winter transitioning to Summer is told through the story of two kings. The Holly (Winter) and the Oak (Summer) fighting it out as they weave through village streets with flaming swords in Dunster, North Exmoor.
CREDIT: RUSSELL SACH FOR THE TELEGRAPH

The boys choir singing carols during the official tree lighting at Winchester Cathedral.
CREDIT: RUSSELL SACH FOR THE TELEGRAPH

In current ownership since 1965 and regarded as the ‘Missing Lightweight’, this 1961 Aston Martin DB4GT ‘Lightweight’ Sports Saloon is up for auction at Bonhams Fine CollectorsTM Motor Cars sale at Bonhams, New Bond Street London.
CREDIT: ELLIOT FRANKS

Swans in the red sunrise in Bosham, West, Sussex.
CREDIT: JESS JONES/SOLENT NEWS & PHOTO AGENCY

Market Closes for December 06^th, 2019  

Market Index	Close	Change
Dow Jones	28015.06	+337.27
		+1.22%
S&P 500	3145.91	+28.48
		+0.91%
NASDAQ	8656.527	+85.826 +1.00%
TSX	16996.97	+142.05
		+0.84%

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	23354.40	+54.31
		+0.23%
HANG SENG	26498.37	+281.33
		+1.07%
SENSEX	40445.15	-334.44
		-0.82%
FTSE 100*	7239.66	+101.81 +1.43%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.579	1.612
CND. 30 Year Bond	1.682	1.690
U.S.    10 Year Bond	1.8381	1.8103
U.S. 30 Year Bond	2.2795	2.2596

Currencies

BOC Close	Today	Previous
Canadian $	0.75418	0.7589
US $	1.32595	1.3177
Euro Rate 1 Euro=		Inverse
Canadian $	1.46647	0.68191
US $	1.10598	0.90418

Commodities

Gold	Close	Previous
London Gold Fix	1475.95	1475.10
Oil
WTI Crude Future	59.20	58.43

Market Commentary:
On this day in 1877, while turning a crank and hollering “Mary had a little lamb,” Thomas Edison made the world’s first recording of a human voice. When one of Mr. Edison’s technical assistants, John Kruesi, played back the recording, he cried in astonishment, “Gott in Himmel! (God in Heaven!)”

Canada
By Kristine Owram
(Bloomberg) — Canadian stocks posted their biggest increase since August, joining a global rally prompted by U.S. jobs gains that sent the unemployment rate there to a half- century low. The S&P/TSX Composite Index rose 0.8% to 16,996.97. Energy stocks led the way, adding 2.5% to the highest since September as crude prices jumped following a surprise supply cut from Saudi Arabia. Meanwhile, the Canadian dollar fell the most in more than two months after the number of jobs in the domestic economy narrowed the most since 2009.
Commodities
* Western Canada Select crude oil traded at a $20.00 discount to WTI
* Spot gold fell 1.3% to $1,464.40 an ounce
FX/Bonds
* The Canadian dollar weakened 0.6% to C$1.3260 per U.S. dollar
* The 10-year government bond yield fell 3 basis points to 1.58%

================================================================
|Index Points | |Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 67.9794| 2.5| 30/1
Financials | 27.8837| 0.5| 19/6
Industrials | 25.2495| 1.3| 24/8
Consumer Staples | 8.4638| 1.2| 10/0
Communication Services | 8.2627| 0.9| 6/1
Information Technology | 4.9089| 0.5| 7/2
Consumer Discretionary | 3.8029| 0.5| 11/5
Utilities | 2.9788| 0.4| 10/6
Health Care | 1.7869| 0.8| 8/1
Real Estate | -0.2415| 0.0| 11/13
Materials | -9.0391| -0.5| 15/33

US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks rallied around the globe and Treasuries fell as better-than-expected data bolstered confidence in the world’s largest economy. The S&P 500 Index extended its advance into a third day
after reports showed payrolls jumped 266,000 — the most since January — as wages beat estimates while consumer sentiment increased. Energy, financial and industrial shares led gains in the equity gauge, which posted its biggest rally in five weeks. The dollar rose, and Treasury 10-year yields traded above 1.8%. Oil surged. Investors pushed up the value of risk assets on the assumption that the American economy isn’t close to signaling a recession — a fear that’s been lurking amid a trade war. While negotiators are near phase one of a broader accord and “progress has been made,” they haven’t yet put anything in writing, said White House economic adviser Larry Kudlow. Strong economic reports may reduce the urgency for a deal, given that escalating levies have failed to significantly dent growth. They also validate Federal Reserve Chairman Jerome Powell’s view that rates can stay on hold after three cuts. “For the equity market, it provides some encouragement that the U.S. is certainly not heading for a hard landing,” said James McCann, senior global economist at Aberdeen Standard Investments. “As we head into next year, the prospect for earnings still remains pretty healthy based on a still well- supported consumer backdrop.”
Stocks got whipsawed this week on conflicting signs of progress in trade negotiations between the world’s two largest economies. China said Friday it’s in the process of waiving retaliatory tariffs on imports of U.S. pork and soy by domestic companies — a procedural step that may also signal a broader trade agreement is drawing closer. President Donald Trump has threatened to impose tariffs on Chinese imports if an accord isn’t reached by Dec. 15, which Kudlow said could still happen. Elsewhere, oil climbed as Saudi Arabia surprised the market by promising significant additional production cuts beyond what was agreed with fellow OPEC+ members. The euro fell after data showed Germany’s industrial slump unexpectedly deepened in October.
Some corporate highlights:
* Apple Inc. jumped to a record high.
* Big Lots Inc. soared on its bullish view for next year.
* Ulta Beauty Inc. surged after delivering what analysts called “better-than-feared” results.
* Ciena Corp. tumbled after UBS recommended selling the stock ahead of next week’s earnings.

These are some of the main moves in markets:

Stocks
* The S&P 500 climbed 0.9% to 3,145.90 at 4 p.m. New York time.
* The Stoxx Europe 600 Index increased 1.2%.
* The MSCI Asia Pacific Index rose 0.5%.
Currencies
* The Bloomberg Dollar Spot Index added 0.1%.
* The euro dipped 0.4% to $1.106.
* The Japanese yen appreciated 0.2% to 108.57 per dollar.
Bonds
* The yield on 10-year Treasuries rose three basis points to 1.84%.
* Germany’s 10-year yield climbed one basis point to -0.29%.
* Britain’s 10-year yield fell less than one basis point to 0.772%.
Commodities
* The Bloomberg Commodity Index climbed 0.2%.
* West Texas Intermediate crude climbed to $59.20 a barrel.
* Gold declined 1.2% to $1,465.10 an ounce.
–With assistance from Cormac Mullen, Eddie van der Walt, Sam Potter and Yakob Peterseil.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

Success is the child of drudgery and perseverance.  It cannot be coaxed
or bribed; pay the price and it is yours.
                                                   -Orison Swett Marden, 1848-1924

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents:
Walt Disney, b. 1901.
Joan Didion, writer, b. 1934
Christina Rosetti, poet, b. 1830
Jose Carreras, singer, b. 1946

-from The New York Times:
His name is Bond. James Bond. But as the trailer for the latest Bond movie comes out today, we wondered about the name’s origins. The writer behind the super spy, Ian Fleming, was also an avid bird watcher. On a trip to Jamaica after World War II, he spotted a book, “Birds of the West Indies,” by an ornithologist from Philadelphia, who happened to be named James Bond. “It struck me that this brief, unromantic, Anglo-Saxon and yet very masculine name was just what I needed,” Mr. Fleming once wrote in a letter to the ornithologist’s wife. But as in any good spy story, there’s a twist: Last year, the BBC reported that newly released records showed that an intelligence officer named James Bond had served under Fleming in a secret elite unit that led a guerrilla war against Hitler. That Bond, a metal worker from Wales, had taken his spy past to the grave, his family said — and they suspected that Fleming had used the bird-watching Bond as a “classic red herring” to keep his identity a secret.

Twenty-two things happened for the first time in 2019

PHOTOS OF THE DAY

Actor Daniel Craig holds a Leica camera during a promotional appearance on TV in Times Square for the new James Bond movie “No Time to Die”
CREDIT: CARLO ALLEGRI/REUTERS

People attend the ‘Fesiluz’ International Chinese Lantern Festival in Santiago de Chile. The show is in Latin America for the first time and will be open to public until 28 February 2020.
CREDIT: ALBERTO VALDES/EPA-EFE/REX

HMS Queen Elizabeth returned to Portsmouth today after a landmark deployment to the United States. The aircraft carrier spent three months off the east coast, carrying out operational tests with UK F-35 Lightning jets. She has now returned to her home port where she was greeted by sister ship HMS Prince of Wales.
CREDIT: KYLE HELLER/ROYAL NAVY

Market Closes for December 05^th, 2019  

Market Index	Close	Change
Dow Jones	27677.79	+28.01
		+0.10%
S&P 500	3117.43	+4.67
		+0.15%
NASDAQ	8570.703	+4.031 +0.05%
TSX	16854.92	-42.42
		-0.25%

International Markets

Market Index	Close	Change
NIKKEI	23300.09	+164.86
		+0.71%
HANG SENG	26217.04	+154.48
		+0.59%
SENSEX	40779.59	-70.70
		-0.17%
FTSE 100*	7137.85	-50.65 -0.7%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.612	1.541
CND. 30 Year Bond	1.690	1.621
U.S.    10 Year Bond	1.8103	1.7706
U.S. 30 Year Bond	2.2596	2.2201

Currencies

BOC Close	Today	Previous
Canadian $	0.7589	0.75773
US $	1.3177	1.31973
Euro Rate 1 Euro=		Inverse
Canadian $	1.4633	0.68339
US $	1.1105	0.90049

Commodities

Gold	Close	Previous
London Gold Fix	1475.10	1477.30
Oil
WTI Crude Future	58.43	58.43

Market Commentary:
The British pound rose to a seven-month high against the dollar Wednesday as polls suggested that Prime Minister Boris Johnson’s Conservative Party would win a majority in next week’s general election—a victory that could end the political uncertainty over Brexit. The pound bought $1.310 on Wednesday, its highest level against the dollar since May this year.

Canada
By Kristine Owram
(Bloomberg) — Canadian stocks fell to the lowest in four
weeks after earnings disappointments from two of the country’s biggest banks. The S&P/TSX Composite Index slid 0.3% to 16,854.92 even as U.S. stocks rose. Toronto-Dominion Bank lost 3.5%, the most since 2017, and Canadian Imperial Bank of Commerce tumbled 5.2%, the most since 2009, after both lenders missed analysts’ estimates. Today, 93 of 233 shares fell, while 136 rose; 5 of 11 sectors were lower, led by technology stocks.
Commodities
* Western Canada Select crude oil traded at a $20.00 discount to WTI
* Spot gold rose 0.1% to 1,481.10
FX/Bonds
* The Canadian dollar strengthened 0.2% to C$1.3172 per U.S. dollar, the strongest in a month
* The 10-year government bond yield rose 7 basis points to 1.61%

================================================================
| Index Points | |Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -41.7502| -0.8| 19/8
Information Technology | -12.1110| -1.3| 0/9
Energy | -2.1049| -0.1| 19/10
Materials | -0.1494| 0.0| 24/24
Industrials | -0.1353| 0.0| 14/18
Consumer Discretionary | 0.5233| 0.1| 8/8
Health Care | 0.8306| 0.4| 7/3
Utilities | 1.0657| 0.1| 11/5
Consumer Staples | 1.2754| 0.2| 6/4
Communication Services | 4.3882| 0.5| 6/1
Real Estate | 5.7621| 1.0| 23/2

US
By Rita Nazareth and Claire Ballentine
(Bloomberg) — U.S. stocks advanced as investors speculated the Trump administration won’t move forward with a tariff hike on Chinese goods scheduled for Dec. 15. Bonds and the dollar fell. The S&P 500 Index continued to rebound from a sell-off sparked by a spike in trade tensions that many investors now view as negotiating bluster. Treasury yields climbed after data showed jobless claims slumped to a seven-month low, signaling resilience in the labor market ahead of Friday’s jobs report. Oil closed flat in a very volatile session as OPEC failed to impress traders with what appeared to be a cosmetic revision to output quotas. Investors watched for signs the world’s two largest economies will reach a truce in a dispute that’s led to the biggest volley of tariffs since the 1930s. Equities rebounded after President Donald Trump’s remarks that negotiations were “moving along well.” Gains were briefly capped by a news report that the U.S. and China remained at odds over the value of farm purchases. “Things are looking modestly positive, but that can change on a dime,” Michael Reynolds, investment strategy officer at Glenmede Trust Co. “We’re expecting trade to dominate the narrative for the next week and a half as we approach that December 15 deadline.”
Traders also awaited Friday’s U.S. jobs report, which may signal that both the labor market and consumers remain buoyant enough to sustain the expansion. That would validate Federal Reserve Chairman Jerome Powell’s view that rates can stay on hold following three cuts. But it could also reduce the urgency for a deal with China, given that escalating levies have so far failed to significantly dent employment. Elsewhere, oil prices sputtered as OPEC reached an agreement that adjusts its official production targets, but removes few barrels from a market that’s forecast to return to surplus early next year.
On corporate news:
* Nike Inc. rallied after Goldman Sachs Group Inc. recommended buying the shares.
* Apple Inc. rose as its price target was raised at Citigroup Inc.
* Acadia Pharmaceuticals Inc. soared on promising data from its dementia drug trial.
* Energy Fuels Inc. and Ur-Energy Inc. jumped as a White House report recommended ways to revive the uranium industry.
* Biogen Inc. climbed after initially dropping on plans to resume studies of its once-abandoned drug for Alzheimer’s disease.
* Sage Therapeutics Inc. sank as a key depression study failed to show benefit.
* At Home Group Inc. tumbled as its forecast disappointed investors.

Here are some key events coming up this week:
* U.S. Labor Department figures are expected to show Friday that 184,000 workers were added to nonfarm payrolls last month — one of the highest estimates this year ahead of a jobs report.

These are some of the main moves in markets:
Stocks
* The S&P 500 rose 0.2% to 3,117.43 at 4 p.m. New York time.
* The Stoxx Europe 600 Index fell 0.1%.
* The MSCI Asia Pacific Index advanced 0.7%.
Currencies
* The Bloomberg Dollar Spot Index lost 0.2%.
* The euro increased 0.3% to $1.1107.
* The Japanese yen added 0.1% to 108.78 per dollar.
Bonds
* The yield on 10-year Treasuries climbed three basis points to 1.80%.
* Germany’s 10-year yield advanced two basis points to -0.29%.
* Britain’s 10-year yield increased three basis points to 0.773%.
Commodities
* The Bloomberg Commodity Index gained 0.3%.
* West Texas Intermediate crude was unchanged at $58.43 a barrel.
* Gold rose 0.2% to $1,483.10 an ounce.
–With assistance from Cormac Mullen, Adam Haigh, Sam Potter,
Todd White, Claire Ballentine and Vildana Hajric.

Have a great night.

Be magnificent!
As ever,

Carolann

Beware of little expenses.  A small leak could sink a great ship.
                                         -Benjamin Franklin, 1706-1790

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents:

1980~The rock group Led Zeppelin announced it was disbanding after the death in September of drummer John Bonham. Go to article »

From today’s New York Times:
Our film critics picked the best films of 2019. And here’s all of our other Best of 2019 lists

PHOTOS OF THE DAY

Choristers sing on the roof of Ely Cathedral Tuesday morning as they rehearse for a busy festive season.
CREDIT: GEOFF ROBINSON

A Lusitano stallion of horse trainer Gari Zoher is pictured during a promotional event for the “Pferd & Jagd” (Horse & Hunt) fair in Hanover, Northern Germany.
CREDIT: SINA SCHULDT/DPA/AFP VIA GETTY IMAGES

Labourers unload building materials from a cargo ship in Gabtoli, on the outskirts of Dhaka, Bangladesh.
CREDIT: MUNIR UZ ZAMAN/AFP VIA GETTY IMAGES

Competitors take part in the first stage of the 2^nd Half marathon of Sables Ica Desert-Peru, in Paracas, Peru.
CREDIT: MARTIN BUREAU/ AFP VIA GETTY IMAGES

Market Closes for December 04^th, 2019  

Market Index	Close	Change
Dow Jones	27649.78	+146.97
		+0.53%
S&P 500	3112.76	+19.56
		+0.63%
NASDAQ	8566.672	+46.029 +0.54%
TSX	16897.34	+5.16
		+0.03%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	23135.23	-244.58
		-1.05%
HANG SENG	26062.56	-328.74
		-1.25%
SENSEX	40850.29	+174.84
		+0.43%
FTSE 100*	7188.50	+29.74 +0.42%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.541	1.447
CND. 30 Year Bond	1.621	1.550
U.S.    10 Year Bond	1.7706	1.7157
U.S. 30 Year Bond	2.2201	2.1636

Currencies

BOC Close	Today	Previous
Canadian $	0.75773	0.75217
US $	1.31973	1.32949
Euro Rate 1 Euro=		Inverse
Canadian $	1.46196	0.68402
US $	1.10777	0.90271

Commodities

Gold	Close	Previous
London Gold Fix	1477.30	1461.15
Oil
WTI Crude Future	58.43	56.10

Market Commentary:
On this day in 1991, Charles H. Keating, Jr., the kingpin of the savings & loan crisis, was convicted on 17 charges of California state securities fraud. The former chairman of Lincoln Savings & Loan was found guilty of making false statements and omitting disclosures about the risks of junk bonds that were sold to more than 17,000 investors. Those bonds, sold for roughly $250 million, turned out to be near-worthless.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite advanced slightly to 16,897.34 in Toronto.The move follows the previous session’s decrease of 0.5 percent. Shopify Inc. contributed the most to the index gain, increasing 5.2 percent. Hudbay Minerals Inc. had the largest increase, rising 11.4 percent. Today, 123 of 233 shares rose, while 104 fell; 5 of 11 sectors were higher, led by energy stocks.

Insights
* This quarter, the index rose 1.4 percent
* This year, the index rose 18 percent, heading for the best year in at least 10 years
* The index advanced 12 percent in the past 52 weeks. The MSCI AC Americas Index gained 15 percent in the same period
* The S&P/TSX Composite is 1.3 percent below its 52-week high on Nov. 28, 2019 and 22.6 percent above its low on Dec. 24, 2018
* The S&P/TSX Composite is down 1.2 percent in the past 5 days and rose 1.4 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 17.1 on a trailing basis and 15.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.6t
* 30-day price volatility little changed to 4.70 percent compared with 4.70 percent in the previous session and the average of 5.19 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 26.2585| 1.0| 25/6
Information Technology | 16.6330| 1.8| 5/4
Industrials | 6.0413| 0.3| 20/10
Communication Services | 4.6260| 0.5| 3/4
Utilities | 2.1010| 0.3| 12/4
Real Estate | -1.6594| -0.3| 10/15
Health Care | -1.6947| -0.8| 4/6
Consumer Staples | -8.8724| -1.3| 3/7
Consumer Discretionary | -11.4530| -1.6| 7/9
Financials | -11.9604| -0.2| 17/9
Materials | -14.8610| -0.8| 17/30
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks rose and bonds fell on speculation the U.S. and China will reach a deal that avoids tariffs due to take hold in 11 days. The S&P 500 Index halted a three-day slide after Bloomberg News reported negotiators are getting near an agreement on the amount of tariff relief in a phase-one accord between the world’s two largest economies. President Donald Trump said discussions with China are going very well, just a day after downplaying the urgency of a deal. Treasury 10-year yields climbed, following the biggest decline since August. The dollar dropped. Oil surged.
Investors are watching for any signs of progress in talks between Washington and Beijing as worries increase that Trump may slap more tariffs on China this month. A flood of trade news has whipsawed global markets, with the U.S. also threatening levies on France after hitting steel from Brazil and Argentina. American equities reached record highs in November, driven in part by optimism that at least an initial trade deal was in the offing. “You wake up every single day and see that the number one thing that’s dictating markets is trade,” said Matt Miskin, co- chief investment strategist at John Hancock Investment Management. “If those tariffs are avoided, then the recent gains in the market will likely hold.”
On corporate news:
* Expedia Group Inc. surged as Chief Executive Officer Mark Okerstrom and Chief Financial Officer Alan Pickerill resigned after clashing with the board on the online travel agency’s direction.
* Cloud software stocks fell as disappointing forecasts from Workday Inc. and Salesforce.com Inc. added to concern about slowing growth.
* Peloton Interactive Inc. slumped as a report said it lowered the price of its digital subscription app for workouts in an effort to appeal to more users.
Elsewhere, oil rallied as Energy Information Administration data showed U.S. crude inventories fell more than expected. The British pound touched the highest against the euro since May 2017 as traders stepped up bets on a win for the Conservatives in next week’s election.
Here are some key events coming up this week:
* Germany releases factory-order data for October on Thursday.
* Saudi Aramco’s initial public offering is scheduled to be priced on Thursday, with Riyadh looking to raise more than $25 billion.
* Friday brings the U.S. jobs report, where estimates are for non-farm payrolls to rise by 190,000 in November.

These are the main moves in markets:
Stocks
* The S&P 500 climbed 0.6% to 3,112.76 at 4 p.m. New York time.
* The Stoxx Europe 600 Index rose 1.2%.
* The MSCI Asia Pacific Index dipped 0.7%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.2%.
* The euro was little changed at $1.1077.
* The British pound climbed 0.8% to $1.3105.
* The Japanese yen weakened 0.2% to 108.85 per dollar.
Bonds
* The yield on 10-year Treasuries rose five basis points to 1.77%.
* Germany’s 10-year yield climbed three basis points to -0.32%.
* Britain’s 10-year yield jumped seven basis points to 0.741%.
Commodities
* West Texas Intermediate crude surged to $58.43 a barrel.
* Gold fell 0.3% to $1,480.20 an ounce.
–With assistance from Adam Haigh, Todd White, Sam Potter and Robert Brand.
Have a  great night.

Be magnificent!
As ever,
Carolann

Do what you can, with what you have, where you are.
                           -Theodore Roosevelt, 1858-1919

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828

Dear Friends, 

Tangents:
Joseph Conrad, writer, b. 1857
Carlos Montoya, b. 1903
Maria Callas, b. 1923
Julianne Moore, actor, b. 1961
Darryl Hannah, actor, b. 1961

Scientists find a black hole so massive it shouldn’t theoretically exist. (h/t Ellen Kominers) 
“Sesame Street” turns 50. (h/t Alisair Lowe) 

All a man can betray is his conscience.-Joseph Conrad.

It’s a great thing to be recognized for something that you’ve done.  But it’s a moment in time.  You can’t live off of those accolades and make them the sum total of your importance in life, or your purpose in life.  You can’t let them define who you are.  Those awards, they’re wonderful.  But they’re never going to define you.  I define myself by my ability to give.  I define myself by my ability to understand.  I define myself by my ethics and by my truth.  These are the things that inform who I am, other than exterior moments that ebb and flow. –Goldie Hawn.

From The New York Times today:

And finally, take a spin around Titan

Saturn’s largest moon, almost 900 million cold miles from the sun, has gasoline for rain, soot for snow and layers of ice that float on subsurface oceans of ammonia. But besides Earth, Titan is the only world in the universe known to harbor liquid on its surface.

Now there’s a map to guide the search for possible life there. Awash in organic materials, Titan has risen to the top of the list of homes, as our cosmos reporter calls it, for Possible Weird Life Out There.

PHOTOS OF THE DAY

A white snow owl as it flies purposefully across the sky. Taken by photographer Hamas Bouresli, the sequence shows the owl staring directly at the camera, its piercing yellow eyes show. In another shot, the owl beats its wings as it purposefully flies off in search of prey in Southern Kuwait. Hamad said: There is an organisation in Kuwait that brings owls to Kuwait for education purposes.
CREDIT: DR HAMAD BOURESLI/CATERS NEWS

Stockbreeders try to return to their town with their live stocks due to harsh winter conditions right after they have taken the hundreds of small cattle to meadow at Karlidere village of Mus in Turkey.
CREDIT: IBRAHIM YALDIZ/ANADOLU AGENCY BIA GETTY IMAGE

This is the moment a big brown bear recreated Baloo’s iconic back-scratching scene from Disney classic The Jungle Nook – standing on his hind legs and even doing the full rub down. Photographer Erik Mandre captured the moment the huge mammal backed up against a tree and rubbed against the bark to satisfy a hard-to-reach itch. The cute shots bring to life the scene where Baloo serenades Mowgli while rubbing his back against a tree during the classic tune The Bare Necessities.
CREDIT: KENNEDY NEWS AND MEDIA/ERIK MAND

Market Closes for December 03^rd, 2019  

Market Index	Close	Change
Dow Jones	27502.81	-280.23
		-1.01%
S&P 500	3093.20	-20.67
		-0.66%
NASDAQ	8520.645	-47.342 -0.55%
TSX	16892.18	-89.29
		-0.53%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	23379.81	-149.69
		-0.64%
HANG SENG	26391.30	-53.42
		-0.20%
SENSEX	40675.45	-126.72
		-0.31%
FTSE 100*	7158.76	-127.18 -1.75%

 

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.447	1.534
CND. 30 Year Bond	1.550	1.616
U.S.    10 Year Bond	1.7157	1.8206
U.S. 30 Year Bond	2.1636	2.2682

 

Currencies

BOC Close	Today	Previous
Canadian $	0.75217	0.75145
US $	1.32949	1.33076
Euro Rate 1 Euro=		Inverse
Canadian $	1.47340	0.67870
US $	1.10825	0.90233

 

Commodities

Gold	Close	Previous
London Gold Fix	1461.15	1460.15
Oil
WTI Crude Future	56.10	55.96

 

Market Commentary:
On this day in 1984, in one of the worst industrial disasters in modern history, a Union Carbide pesticide plant leaked a lethal cloud of methyl isocyanate gas into the midnight breezes blowing through the residential alleyways of Bhopal, India. In the days and weeks that followed, some 3,800 people died from exposure to the toxic gas, and thousands more suffered permanent disabilities. By early 2001, Dow Chemical had acquired Union Carbide for $7.3 billion

Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell for the third day, dropping 0.5 percent, or 89.29 to 16,892.18 in Toronto. The move was the biggest since falling 0.8 percent on Oct. 8. Today, financials stocks led the market lower, as 6 of 11 sectors lost; 149 of 233 shares fell, while 81 rose. Canadian National Railway Co. contributed the most to the index decline, decreasing 2.2 percent. First Quantum Minerals Ltd. had the largest drop, falling 6.1 percent.

Insights
* This quarter, the index rose 1.4 percent
* This year, the index rose 18 percent, heading for the best year in at least 10 years
* The index advanced 11 percent in the past 52 weeks. The MSCI AC Americas Index gained 11 percent in the same period
* The S&P/TSX Composite is 1.3 percent below its 52-week high on Nov. 28, 2019 and 22.6 percent above its low on Dec. 24, 2018
* The S&P/TSX Composite is down 0.8 percent in the past 5 days and rose 1.8 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 17.1 on a trailing basis and 15.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.61t
* 30-day price volatility rose to 4.70 percent compared with 4.49 percent in the previous session and the average of 5.22 percent over the past month

================================================================
| Index Points | |Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -57.6676| -1.0| 3/24
Industrials | -24.4136| -1.3| 5/27
Energy | -23.1026| -0.8| 7/25
Consumer Discretionary | -6.9757| -1.0| 3/13
Communication Services | -2.2302| -0.2| 1/6
Real Estate | -1.5278| -0.3| 13/12
Consumer Staples | 0.2507| 0.0| 6/4
Health Care | 1.9439| 0.9| 5/5
Utilities | 2.7664| 0.3| 8/8
Materials | 10.8189| 0.6| 29/17
Information Technology | 10.8603| 1.2| 1/8

US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks dropped around the world and bonds rallied after President Donald Trump aimed his tariff weapon on economies from South America to Europe and China, denting hopes for a global recovery. The S&P 500 Index fell for a third day, though it pared some of its losses in afternoon trading. The morning brought a flood of trade headlines that rattled markets, with the Trump administration signaling the U.S. plans to move forward with tariffs on Chinese goods if no deal is reached before the mid- December deadline. The president had earlier indicated he’d be willing to wait another year before striking an agreement with China. He also threatened levies on France after hitting steel from Brazil and Argentina.
Treasuries surged, driving yields down the most since August, as gold, the yen and the Swiss franc paced gains among haven assets. The cost to protect North American investment- grade debt against default jumped as trade-war induced volatility shook markets. Jefferies warned currency traders to buckle up before the tariff deadline, saying “put your helmet back on.” The flurry of trade news roiled global markets just as investors started dipping their toes into riskier waters. A rush to assets that usually outperform during times of economic growth pushed U.S. stocks to record highs last month. But renewed tariff tension and signs of profit deterioration could make traders again more cautious amid the longest bull market on record. “The narrative on trade has quickly been turned upside down as negative headlines on tariffs have ignited a risk-averse tone in the markets,” said Charlie Ripley, senior investment strategist for Allianz Investment Management. “Today’s headlines are a short reminder of the downside risks that still remain across the investing landscape.”
Chinese state media said Tuesday the government would soon publish a list of “unreliable entities” that could lead to sanctions against American companies. Meantime, France said the European Union would retaliate if the U.S. follows through on a threat to hit about $2.4 billion of French products with levies.
In afternoon trading, U.S. equities trimmed their declines amid a rally in defensive companies such as real estate and utilities. Despite Tuesday’s losses, the S&P 500 was still up 23% this year. “Let’s keep in mind that 2019 has been a remarkable year in the markets,” said Mike Loewengart, vice president of investment strategy at E*Trade Financial Corp. “Regardless of trade tensions, it’s natural to see a bit of a dip.”
Elsewhere, oil rose as traders focused on the upcoming OPEC+ meeting that could lead to deeper supply cuts by some of the biggest crude producers.
Here are some key events coming up this week:
* Germany releases factory-order data for October on Thursday.
* Saudi Aramco’s initial public offering is scheduled to be priced on Thursday, with Riyadh looking to raise more than $25 billion.
* Friday brings the U.S. jobs report, where estimates are for non-farm payrolls to rise by 190,000 in November.

These are the main moves in markets:
Stocks
* The S&P 500 dipped 0.7% to 3,093.20 as of 4 p.m. New York time.
* The Stoxx Europe 600 Index decreased 0.6%.
* The MSCI Asia Pacific Index fell 0.3%.
Currencies
* The Bloomberg Dollar Spot Index decreased 0.1%.
* The euro was little changed at $1.108.
* The Japanese yen appreciated 0.3% to 108.64 per dollar.
Bonds
* The yield on 10-year Treasuries slid 11 basis points to 1.71%.
* Germany’s 10-year yield sank seven basis points to -0.35%.
* Britain’s 10-year yield dipped seven basis points to 0.67%.
Commodities
* The Bloomberg Commodity Index advanced 0.3%.
* West Texas Intermediate crude climbed to $56.10 a barrel.
* Gold gained 1% to $1,484.40 an ounce.
–With assistance from Joanna Ossinger, Andreea Papuc, Todd
White, Sam Potter, Yakob Peterseil, Sophie Caronello, Sarah Ponczek and Luke Kawa.

Have a great night.

Be magnificent!
As ever,

Carolann

It’s not whether you get knocked down, it’s whether you get back up.
                                                     -Vince Lombardi, 1913-1970

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents:

1804 – Napoleon was crowned emperor of France.  Go to article »
1859 – Georg Seurat, painter, b.

Everybody’s looking for the future.  They’re never in the present.  So when they arrive at the future, it’s not there not present for it.  If you get the idea that this is the moment you have, it is the only moment that you have, then you live in the present, and you move with the flow, because this is the point of arrival. Right now.  -Deepak Chopra.

ICYMI
America braces for a possible french fry shortage.

PHOTOS OF THE DAY

Waves batter Tynemouth pier at sunrise on a cold, sub zero beginning to December on the north east coast, England.
CREDIT: ALAN DAWSON/ALAMY LIVE NEWS

Fireworks at the end of the Winter Festival in Oban on the west coast of Scotland as part of the celebrations for St. Andrew’s Day.
CREDIT: NICK EDGINGTON/BAV MEDIA

Japanese monkeys soak in a hot spring at a Hakodate Tropical Botanical Garden in Hakodate, northern Japan.
CREDIT: YOHEI FUKAI/AP

Market Closes for December 02^nd, 2019  

Market Index	Close	Change
Dow Jones	27783.04	-268.37
		-0.96%
S&P 500	3113.87	-27.11
		-0.86%
NASDAQ	8567.988	-97.483 -1.13%
TSX	16981.47	-58.73
		-0.34%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	23529.50	+235.59
		+1.01%
HANG SENG	26444.72	+98.23
		+0.37%
SENSEX	40802.17	+8.36
		+0.02%
FTSE 100*	7285.94	-60.59 -0.82%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.534	1.463
CND. 30 Year Bond	1.616	1.555
U.S.    10 Year Bond	1.8206	1.7758
U.S. 30 Year Bond	2.2682	2.2054

Currencies

BOC Close	Today	Previous
Canadian $	0.75145	0.75296
US $	1.33076	1.32810
Euro Rate 1 Euro=		Inverse
Canadian $	1.47421	0.67833
US $	1.10780	0.90269

Commodities

Gold	Close	Previous
London Gold Fix	1460.15	1454.65
Oil
WTI Crude Future	55.96	55.17

Market Commentary:
On this day in 1719, the first great modern “stock bubble” hit its peak, as shares in the Mississippi Co. reached their all-time high of 10,025 livres each in trading on the rue Quincampoix (the Wall Street of Paris). The Mississippi Co. was financier John Law’s scheme to refinance the French debt and colonize North America, but its success was contingent on an ever-growing supply of new investors. The supply maxed out Dec. 2, and it was all downhill from there.  A year later, the stock had lost roughly 70%.
Canada
By Kristine Owram
(Bloomberg) — Canadian stocks retreated as global trade risks appeared to grow and domestic consumer confidence fell for a second month. The S&P/TSX Composite Index lost 0.3% to 16,981.47, the lowest in more than a week. Software stocks were weak on both sides of the border as trade tensions ratcheted up again, with Celestica Inc. down 2.9% and Constellation Software Inc. falling 1.9%. Financials slid 0.5% ahead of earnings from five of Canada’s largest banks this week. Centerra Gold Inc. had the largest drop, falling 11% after a rock slide at its flagship mine in Kyrgyzstan. Today, 146 of 233 shares fell, while 80 rose; 7 of 11 sectors were lower.
Commodities
* Western Canada Select crude oil traded at a $20.60 discount to WTI, the widest gap in three weeks
* Spot gold fell 0.3% to $1,468.70 an ounce
FX/Bonds
* The Canadian dollar weakened 0.2% to C$1.3300 per U.S. dollar
* The 10-year government bond yield gained 7 basis points to 1.54%
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -29.5720| -0.5| 6/19
Energy | -10.2219| -0.4| 6/25
Industrials | -8.8171| -0.5| 8/23
Information Technology | -7.2374| -0.8| 3/6
Communication Services | -7.2133| -0.8| 1/6
Real Estate | -2.3022| -0.4| 6/19
Health Care | -1.4432| -0.7| 2/8
Utilities | 0.5322| 0.1| 9/6
Consumer Discretionary | 1.0048| 0.1| 9/7
Consumer Staples | 1.4329| 0.2| 7/3
Materials | 5.1171| 0.3| 26/21
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — U.S. stocks dropped on concern over global trade risks and disappointing factory data. The dollar and bonds declined. The S&P 500 Index fell the most in almost eight weeks on concern the U.S. will slap fresh tariffs on China and after President Donald Trump reinstated levies on steel and aluminum from Argentina and Brazil. The risk-off mood spread to Europe, where shares had the biggest slump in two months. The greenback  slid against most major peers, while Treasury 10-year yields jumped. The latest developments on trade overshadowed hope that the world’s two largest economies were close to signing the first part of a trade deal. Meantime, an unexpected decline in U.S. manufacturing showed the sector lacked momentum in an environment of corporate investment cutbacks, subdued global demand and a still-simmering trade war. “It’s all part of the same narrative, right?” Tom Porcelli, chief U.S. economist at RBC Capital Markets, told Bloomberg TV. “There’s a narrative problem in the manufacturing space and the narrative problem obviously stems from trade. Until you actually can sign this deal, I think that manufacturing will remain under pressure.”
The American manufacturing miss countered signs of recovery in China and Europe. It also revived concern about the U.S. economy and could reignite bets on further Federal Reserve easing, according to Eimear Daly, a currency strategist at Macquarie Bank. Earlier Monday, Trump again called on the Fed to loosen monetary policy. Traders also monitored the latest on retail after Black Friday hit a record $7.4 billion in U.S. online sales. American shoppers are on track to spend an estimated $9.4 billion on Cyber Monday — a record — boosting an already robust holiday shopping season. Yet a gauge of retailers in the S&P 500 dropped on Monday, joining broader market losses.
More on corporate news:
* Roku Inc. sank after Morgan Stanley cut its rating and warned that revenue and gross profit growth may “slow meaningfully” next year.
* Apache Corp. tumbled after the company’s update on an exploratory oil well off the coast of Suriname offered little indication as to whether it will be commercially viable.
* Biogen Inc. slumped after being downgraded at Robert W. Baird, which warned investors ahead of a company presentation at a medical meeting later this week.

Elsewhere, oil rebounded from the biggest weekly loss since October on speculation OPEC+ could defy expectations by deepening production cuts.
Here are some key events coming up this week:
* Saudi Aramco’s initial public offering is scheduled to be priced on Thursday.
* Friday brings the U.S. jobs report, where estimates are for non-farm payrolls to rise by 190,000 in November.

These are the main moves in markets:
Stocks
* The S&P 500 fell 0.9% to 3,113.87 at 4 p.m. New York time.
* The Stoxx Europe 600 Index sank 1.6%.
* The MSCI Asia Pacific Index jumped 0.7%.
Currencies
* The Bloomberg Dollar Spot Index slid 0.3%.
* The euro rose 0.6% to $1.1081.
* The Japanese yen added 0.5% to 108.97 per dollar.
Bonds
* The yield on 10-year Treasuries rose four basis points to 1.82%.
* Germany’s 10-year yield jumped eight basis points to -0.28%.
* Britain’s 10-year yield rose climbed basis points to 0.739%.
Commodities
* The Bloomberg Commodity Index was little changed.
* West Texas Intermediate crude rose 1.4% to $55.96 a barrel.
* Gold decreased 0.3% to $1,468.60 an ounce.
–With assistance from Adam Haigh, Yakob Peterseil, Sam Potter and Sarah Ponczek.
Have a great night.

Be magnificent!
As ever,

Carolann

If life were predictable it would cease to be life, and be without flavor.
                                                      -Eleanor Roosevelt, 1884-1962

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com