December 31, 2020 Newsletter

Dear Friends,

Tangents:  Happy New Year’s Eve.  At long last, the end of 2020.

December 31, 1857:  Britain’s Queen Victoria decided to make Ottawa the capital of Canada. Go to article »

The month of January is named for the Roman god Janus.  Janus presides over doors, beginnings, and endings, and he is depicted as having two faces: one looking toward the new year , and one looking back at the old.

The fascinating history behind the Times Square ball drop
Did you know? The design for the ball was based on a “time ball,” a nautical device that helped sailors synchronize their on-board instruments.
The ball will still drop tonight, but for the first time in decades, Times Square will be closed to the public on New Year’s Eve.

Watch Boston Dynamics robots dance to ‘Do You Love Me’
No no no, we can’t think of the robots as cute and charming! That’s part of their master plan!

Here is how other cities will say goodbye to 2020.

Here are 74 fun facts that appeared in The Times this year.

Forty of the Best Movies on Netflix Right Now
Just as mud is a good place to find gold nuggets, Netflix, with some careful sifting, is a good place to find great movies.

PHOTOS OF THE DAY

Asthore fishing boat is seen in Mount’s Bay, near Newlyn Harbour, which could see significant impact to the fishing industry as a result of the Brexit deal
CREDIT: REUTERS/TOM NICHOLSON
A woman walks past decorations installed for the New Year and Christmas holiday season in Zaryadye Park in Moscow, Russia
CREDIT: REUTERS/EVGENIA NOVOZHENINA

A stag pictured in Glencoe with the famous mountain Buachaille Etive Mor as a backdrop
CREDIT: COLIN FISHER/ALAMY LIVE NEWS

Swaledale, Yorkshire Dales National Park viewed by a bright full moon on a cold frosty night from the Buttertubs Pass, North Yorkshire
CREDIT: WAYNE HUTCHINSON/ALAMY LIVE NEWS
Market Closes for December 31st, 2020 

Market
Index
Close Change
Dow
Jones
30606.48 +196.92
+0.65%
S&P 500 3756.07 +24.03
+0.64%
NASDAQ 12888.281 +18.279

+0.14%

TSX 17433.36 -112.45
-0.64%

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 27444.17 -123.98
-0.45%
HANG
SENG
27231.13 +84.02
+0.31%
SENSEX 47751.33 +5.11
+0.01%
FTSE 100* 6460.52 -95.30

-1.45%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.677 0.705
CND.
30 Year
Bond
1.212 1.244
U.S.   
10 Year Bond
0.9132 0.9248
U.S.
30 Year Bond
1.6449 1.6576

Currencies

BOC Close Today Previous  
Canadian $ 0.78565 0.78419
US
$
1.27283 1.27520
Euro Rate
1 Euro=
Inverse
Canadian $ 1.55548 0.64289
US
$
1.22206 0.81829

Commodities

Gold Close Previous
London Gold
Fix
1887.60 1874.30
Oil
WTI Crude Future 48.52 48.40

Market Commentary:
On this day in 1999, the New York Stock Exchange closed three hours early to allow technical experts to prepare for the possibility of “Y2K” computer malfunctions, which were almost universally predicted. Nothing happened.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities closed out 2020 with a slight gain, though lagged their peers south of the border.
The S&P/TSX Composite Index advanced 2.2% this year, while the S&P 500 Index rose 16%. Oil & gas stocks were among laggards as lockdowns continued, denting demand.
Here’s a look at some companies that benefited — and those that have suffered this year.
Winners:
* Trillium Therapeutics Inc. (+1,308%): Cancer drug developer surged after data, and has been a hedge fund favorite
* Ballard Power Systems Inc. (+221%): Clean energy and electric-vehicle exposure has propelled Ballard
* Shopify Inc. (+178%) and Lightspeed POS Inc. (+149%): Tech platforms surged during Covid-19 lockdowns, and the two have emerged as Canadian tech darlings
* New Gold Inc. (+143%) and Teranga Gold Corp. (+95%): Gold acted as a haven during the pandemic, while fiscal uncertainty remains
* Cargojet Inc. (+108%): Cargo shipping has hit peak levels as many retail storefronts remain closed during lockdowns
* Canfor Corp. (+89%): Lockdowns boosted lumber futures on home renovations

Losers:
* Suncor Energy Inc. (-50%), Inter Pipeline Ltd. (-47%), Cenovus Energy Inc. (-41%): Energy stocks lagged as oil briefly turned negative in the early stages of lockdowns along with a Saudi-Russia price war
* Air Canada (-53%): Travel bans crushed global flying
* Cominar Real Estate Investment Trust (-43%): Quebec REIT looking at strategic alternatives given office and retail exposure

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell 0.6 percent at 17,433.36 in Toronto. The move was the biggest since falling 0.7 percent on Dec. 18 and follows the previous session’s little change.
Shopify Inc. contributed the most to the index decline, decreasing 3.1 percent. Aurora Cannabis Inc. had the largest drop, falling 4.8 percent.
Today, 164 of 222 shares fell, while 55 rose; 10 of 11 sectors were lower, led by materials stocks.

Insights
* So far this week, the index fell 1.1 percent, heading for the biggest decline since the week ended Oct. 30
* This quarter, the index rose 8.1 percent
* This month, the index rose 1.4 percent
* This year, the index rose 2.2 percent, poised for the best year since 2019
* The index advanced 2.2 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 3 percent below its 52-week high on Feb. 20, 2020 and 56 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 0.7 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 26.2 on a trailing basis and 23.5 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$2.71t
* 30-day price volatility rose to 8.35 percent compared with 8.14 percent in the previous session and the average of 11.31 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -40.6551| -1.7| 2/50
Information Technology | -34.7168| -1.9| 5/5
Energy | -10.8356| -0.6| 3/20
Consumer Discretionary | -8.4242| -1.2| 1/12
Industrials | -6.4573| -0.3| 10/19
Consumer Staples | -6.1071| -0.9| 0/11
Communication Services | -3.4275| -0.4| 0/7
Utilities | -2.9387| -0.3| 3/12
Health Care | -0.4168| -0.2| 3/6
Real Estate | -0.3149| -0.1| 13/11
Financials | 1.8369| 0.0| 15/11

US
By Vildana Hajric and Sarah Ponczek
(Bloomberg) — U.S. stocks climbed to a record high on the year’s final trading day amid thin trading. The dollar eked out an advance.
The S&P 500 Index and Dow Jones Industrial Average turned positive in the afternoon and ended at all-time highs. Volume was about 15% below average on the S&P. Financial companies were among the best performers, while energy producers slumped. European stocks dipped. Markets in Japan, Germany and South Korea were shut for New Year’s Eve.
In Asia, China’s benchmark CSI 300 Index closed at a five-year high as officials gave the green light to its first coronavirus vaccine for general public use and data showed a steady economic recovery. The offshore yuan strengthened to the highest since June 2018.
The S&P 500 ended the year up more than 16%, leaving equities at rich valuations amid expectations that widespread vaccine distribution in 2021, central bank support and government aid will reignite economic growth and boost corporate profits. The gains were global, with the MSCI World Index of stocks at a record high after having risen 14% in 2020. “Investors are breathing a sigh of relief that some stimulus is getting out there,” said Chris Gaffney, president of world markets at TIAA Bank. This “has been an unprecedented year, and I think that some of the risks that we entered into 2020 with, we’re leaving without those risks.”
While volume on the S&P 500 was subdued Thursday relative to the norm for this year, it would’ve looked like an active day in 2019. Last year, an average 7 billion shares changed hands a day across U.S. exchanges. This year, a typical day has seen 10.8 billion shares trade.
Against a subdued backdrop in stocks this week, the frenzy in cryptocurrencies shows no signs of slowing down. Bitcoin vaulted above $29,000 on Thursday before pulling back. The digital asset has advanced about 50% in December for the biggest monthly jump since May 2019.
On the coronavirus front, global deaths from Covid-19 passed 1.8 million. New York state and Florida both shattered their previous daily records for cases. California became the third state to pass 25,000 fatalities, after New York and Texas. Governments across the globe urged people to celebrate the New Year at home. “You’ve seen kind of a few blissfully un-volatile days after what I think we can all agree was quite a year,” said Giorgio Caputo, senior fund manager at J O Hambro Capital Management. “It’s given market participants a holiday gift.”

These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.6% as of 4 p.m. in New York.
* The Stoxx Europe 600 Index fell 0.3%.
* The MSCI Asia Pacific Index was little changed.
* The MSCI Emerging Market Index rose 0.1%.

Currencies
* The Bloomberg Dollar Spot Index rose 0.1%.
* The euro decreased 0.7% to $1.2213.
* The British pound rose 0.3% to $1.3663.
* The Japanese yen fell 0.1% to 103.27 per dollar.

Bonds
* The yield on 10-year Treasuries fell one basis point to 0.91%.
* Germany’s 10-year yield was little changed at -0.575%.
* Britain’s 10-year yield decreased two basis points to 0.19%.

Commodities
* West Texas Intermediate crude was little changed at $48.42 a barrel.
* Gold rose 0.2% to $1,898.50 an ounce.
–With assistance from Andreea Papuc, Anchalee Worrachate and Claire Ballentine.

Have a wonderful long weekend everyone.

Be magnificent!
As ever,

Carolann

The beginning is always today.
   -Mary Wollstonecraft Shelley, 1797-1851

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

December 30, 2020 Newsletter

Dear Friends,

Tangents: Full Moon tonight, also known as the cold moon.

Rudyard Kipling, author, b. 1865.
Bo Diddley, singer, b. 1928.
Sandy Koufax, baseball pitcher, b. 1935.
Tiger Woods, golfer, b. 1975.

December 30, 1950: Vietnam, Laos and Cambodia become independent states within the French Union.

On Dec. 30, 1972, the United States halted its heavy bombing of North Vietnam. Go to article »

If your New Year’s resolution is to “do better,” start here.-Bloomberg.

With the new year approaching here’s five ways to reset your goals for 2021. –The Telegraph

In Ancient Rome, New Year’s was on March 1st.  The Roman calendar consisted of 10 months and 304 days, and the new year began at the vernal equinox.  The calendar, however, became out of sync, and in 46 BC, Julius Caesar created the Julian calendar, which closely resembles our modern Gregorian calendar.

New year is the glittering light to brighten the dream-lined pathway of future. -Munia Khan.
PHOTOS OF THE DAY

A diver in the Otoch Ha cave in Yucatan, Mexico
CREDIT: PETR POLACH/CATERS NEWS

The last full moon of 2020 rises over the snow capped Curbar Edge in the Peak District.
CREDIT: TOM MADDICK/SWNS

A handout photo made available by the United States Geological Survey shows the continuing eruption in the Halema’uma’u crater at Kilauea volcano, Hawaii
CREDIT: D DOWNS/USGS HANOUT/EPA-EFE/SHUTTERSTOCK
Market Closes for December 30th, 2020 

 

Market
Index
Close Change
Dow
Jones
30409.56 +73.89
+0.24%
S&P 500 3732.04 +5.00
+0.13%
NASDAQ 12870.004 +19.783

+0.15%

TSX 17545.81 +2.38
+0.01%

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 27444.17 -123.98
-0.45%
HANG
SENG
27147.11 +578.62
+2.18%
SENSEX 47746.22 +133.14
+0.28%
FTSE 100* 6555.82 -46.83

-0.71%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.705 0.711
CND.
30 Year
Bond
1.244 1.254
U.S.   
10 Year Bond
0.9248 0.9347
U.S.
30 Year Bond
1.6576 1.6750

Currencies

BOC Close Today Previous  
Canadian $ 0.78419 0.78021
US
$
1.27520 1.28171
Euro Rate
1 Euro=
Inverse
Canadian $ 1.56837 0.63760
US
$
1.22990 0.81307

Commodities

Gold Close Previous
London Gold
Fix
1874.30 1875.00
Oil
WTI Crude Future 48.40 48.00

Market Commentary:
On this day in 1963, American Express Warehousing, a unit of American Express, declared bankruptcy after storage tanks in Bayonne, N.J., that were supposed to contain $150 million worth of salad oil turned out to hold nothing but seawater.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities were flat Wednesday after briefly turning negative.
The S&P/TSX Composite Index gained 0.01% in a mixed session. Materials and health care were among gainers while tech and real estate fell.
Gold notched a second straight gain as the dollar extended a slide to the lowest in more than two years. Copper slipped amid concern over the outlook for industrial-metals demand in China.
Canada is stepping up its virus response at the border by requiring all international travelers to present a negative Covid-19 test upon arrival.
Meanwhile, Bank of Montreal’s capital-markets division grabbed the top spot for Canadian equity sales in 2020, leading the ranking for the first time in a decade as the coronavirus pandemic pushed companies to stockpile cash.

Commodities
* Western Canadian Select crude oil traded at a $14.85 discount to West Texas Intermediate
* Spot gold rose 0.8% to ~$1,892 an ounce

FX/Bonds
* The Canadian dollar rose 0.5% to C$1.2760 per U.S. dollar
* The 10-year Canada government bond yield edged lower to 0.704%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite advanced slightly to 17,545.81 in Toronto. The move follows the previous session’s decrease of 0.5 percent.
Canadian Natural Resources Ltd. contributed the most to the index gain, increasing 1.9 percent. Fortuna Silver Mines Inc. had the largest increase, rising 7.2 percent.
Today, 141 of 222 shares rose, while 80 fell; 4 of 11 sectors were higher, led by materials stocks.

Insights
* This month, the index rose 2.1 percent
* This quarter, the index rose 8.8 percent
* This year, the index rose 2.8 percent, poised for the best year since 2019
* The index advanced 2.6 percent in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 2.4 percent below its 52-week high on Feb. 20, 2020 and 57 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.3 percent in the past 5 days and rose 2.1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.4 on a trailing basis and 23.7 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$2.71t
* 30-day price volatility fell to 8.14 percent compared with 8.17 percent in the previous session and the average of 11.45 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 43.7706| 1.8| 49/3
Health Care | 3.4845| 1.8| 8/1
Consumer Discretionary | 1.8946| 0.3| 8/5
Energy | 1.6331| 0.1| 19/4
Utilities | -0.3471| 0.0| 11/5
Industrials | -2.1197| -0.1| 18/11
Communication Services | -3.9513| -0.5| 1/6
Real Estate | -4.4195| -0.8| 7/18
Consumer Staples | -4.5745| -0.7| 2/9
Financials | -13.8250| -0.3| 15/11
Information Technology | -19.1677| -1.0| 3/7

US
By Vildana Hajric
(Bloomberg) — U.S. stocks climbed, with small-cap shares outperforming in one of the final trading sessions of 2020. The dollar continued its slide, weakening to the lowest in 2 ½ years.
Automakers were among the best performers as the S&P 500 Index edged higher, while the Russell 2000 gauge of smaller companies rallied about 1% for its biggest gain in almost two weeks. Travel and leisure companies rose in Europe after the U.K. approved a coronavirus shot by AstraZeneca Plc and the University of Oxford, offsetting pessimism sparked by a slower- than-planned rollout of shots in the U.S. Volumes were light during the holiday week, with trading in S&P 500 shares about 25% below the 30-day average. Bitcoin extended its record-breaking rally as it approached $29,000. Investors have pushed stocks to sky-high valuations this year on expectations that widespread vaccine distribution in 2021 will reignite economic growth and boost corporate profits.
The U.S. government has started sending Americans $600 payments for pandemic relief, but discouraging news came from Texas, where at least three shipments of Moderna Inc.’s vaccine arrived with signs that the shots had strayed from their required temperature range. “Investors continue to weigh stimulus hopes against negative pandemic developments,” Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter, wrote to clients. “Markets have aggressively priced in a lot of positive resolution to these events (and more) in 2021.” With a volatile year coming to a close, risk assets such as stocks, corporate bonds and Bitcoin are sitting at or near record highs. The MSCI World Index of global stocks is set to end the year about 14% higher, having surged almost 68% since its March low.
On the coronavirus front, daily deaths in Germany surpassed 1,000 for the first time since the outbreak began, with a record increase in the last 24 hours. A Chinese state-backed vaccine developer said one of its shots prevents Covid-19 in almost 80% of people. U.S. President-elect Joe Biden criticized vaccine- distribution efforts under President Trump as too slow.
Elsewhere, Bloomberg’s dollar gauge fell to its lowest since April 2018 as traders squared currency positions ahead of the year’s end amid thin liquidity. Emerging-market stocks reached the highest level since 2007 on buoyant inflows.

Here are some key events coming up:
* U.S. initial jobless claims figures are published Thursday.
* Most global stock markets are closed Friday for New Year’s Day.

These are the main moves in markets:
Stocks
* The S&P 500 Index gained 0.1% as of 4 p.m. in New York.
* The Russell 2000 Index added 1.1%.
* The Stoxx Europe 600 Index slipped 0.3%.
* The MSCI Emerging Market Index climbed 1.7%.

Currencies
* The Bloomberg Dollar Spot Index declined 0.4%.
* The euro rose 0.4% to $1.2294.
* The British pound climbed 0.9% to $1.3624.
* The Japanese yen strengthened 0.3% to 103.23 per dollar.

Bonds
* The yield on 10-year Treasuries slipped one basis point to 0.93%.
* Germany’s 10-year yield was little changed at -0.58%.
* Britain’s 10-year yield was little changed at 0.21%.

Commodities
* West Texas Intermediate crude rose 0.6% to $48.29 a barrel.
* Gold strengthened 0.7% to $1,891.61 an ounce.
–With assistance from Andreea Papuc.

Have a nice evening.

Be magnificent!
As ever,

Carolann

Be in love with your life.  Every minute of it.
                      -Jack Kerouac, 1922-1969

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

 

December 29, 2020 Newsletter

Dear Friends,

Tangents:
1890- Massacre at Wounded Knee.

Pablo Casals, cellist, b. 1876.
Grigori Rasputin, mystic, b. 1916.
Marianne Faithful, singer, b. 1946.
Jude Law, actor, b. 1972.

On Dec. 29, On Dec. 29, 1940, during World War II, Germany began dropping incendiary bombs on London. Go to article »

Ancient snack stall uncovered in Pompeii, revealing bright frescoes and traces of 2,000-year-old street food.  Food carts and fancy advertising: Uniting humanity for thousands of years

The 11 meals a Bloomberg food writer remembers most from 2020.

David Attenborough is hopeful that the pandemic made humans appreciate nature more. 

-from The New York Times:
The coronavirus gave 2020 a new dictionary. There are some phrases whose use skyrocketed this year. Our journalists analyzed more than 20,000 business presentations to uncover the new lexicon.
“You’re on mute” was said on 1,000 percent more calls between executives and investors in 2020 compared with 2019. Uses of the word “humbled” rose 200 percent. The phrase “new normal” appeared nearly 3,000 times.

A breathtaking ‘Waltz of the Snowflakes’
No stage. Masks. In one performance, proof that art thrives even in the most challenging of times. (Click here to view

PHOTOS OF THE DAY

The waves hit the lighthouse of Mouro’s island in Cantabria, northern Spain. Storm Bella is expected to bring heavy rains and strong winds on its way through the country.
CREDIT: PEDRO PUENTE HOTOS/EPA-EFE/SHUTTERSTOCK

Horses on the gallops in the snow at Sam Drinkwater’s Granary Stables in Upper Strensham, Worcester. In the aftermath of Storm Bella swathes of the UK are braced for a cold snap, with snow and ice warnings in force across the country. 
CREDIT: DAVID DAVIES/PA WIRE

Deep in the Alaskan wilderness, an ice climber rests in a hammock set up in the walls of an ice cave. The explorer David Crane (32) from Salt Lake City, Utah, USA says he is witnessing
CREDIT: MEDIADRUMIMAGES/DAVID CRANE

Squirrels look like they’re about to hit the slopes and go skiing. The rodents were photographed standing on tiny skis and holding onto poles in a snowy back garden. Photographer Geert Weggen managed to capture the charming images after smearing nutpaste on the poles and hanging food above the skis to tempt the squirrels. It took him weeks of waiting to get the right pictures outside his house in the Swedish village of Bisgarden.
CREDIT: GEERT WGGEN/SOLENT NEWS&PHOTO AGENCY
Market Closes for December 29th, 2020 

Market
Index
Close Change
Dow
Jones
30335.67 -68.30
-0.22%
S&P 500 3727.04 -8.32
-0.22%
NASDAQ 12850.223 -49.200

-0.38%

TSX 17543.43 -80.45
-0.46%

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 27568.15 +714.12
+2.66%
HANG
SENG
26568.49 +253.86
+0.96%
SENSEX 47613.08 +259.33
+0.55%
FTSE 100* 6602.65 +100.54

+1.55%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.711 0.721
CND.
30 Year
Bond
1.254 1.267
U.S.   
10 Year Bond
0.9347 0.9214
U.S.
30 Year Bond
1.6750 1.6562

Currencies

BOC Close Today Previous  
Canadian $ 0.78021 0.78015
US
$
1.28171 1.28181
Euro Rate
1 Euro=
Inverse
Canadian $ 1.57087 0.63659
US
$
1.22561 0.81592

Commodities

Gold Close Previous
London Gold
Fix
1875.00 1875.00
Oil
WTI Crude Future 48.00 47.82

Market Commentary:
On this day in 1800, Charles Goodyear was born in New Haven, Conn., the son of a hardware dealer.  He later developed the vulcanizing process for rubber, in which sulfur and nitric acid are added, making rubber tough enough to be used even in automobile tires. But Goodyear wasn’t unable to protect his patents and died a pauper in 1860.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell Tuesday after rising for the previous three sessions.
The S&P/TSX Composite Index fell 0.5%, with seven sectors lower. Utilities were a haven while tech lagged.
Oil eked out a gain as prospects for bigger U.S. aid checks dissipated, tamping expectations for a near-term recovery and battering equities markets.
Meanwhile, Canadians are the most confident in more than three years that real estate prices will continue to rise, according to weekly telephone polling, a positive signal for the recovery.

Commodities
* Western Canadian Select crude oil traded at a $15.50 discount to West Texas Intermediate
* Spot gold rose 0.3% to $1,879 an ounce

FX/Bonds
* The Canadian dollar rose 0.3% to C$1.2816 per U.S. dollar
* The 10-year Canada government bond yield fell 1.4 basis points to 0.707%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite is falling 0.5 percent at 17,533.39 in Toronto.
Shopify Inc. contributed the most to the index decline, decreasing 5.7 percent. Aurora Cannabis Inc. had the largest drop, falling 7.4 percent.
In midday trading, 134 of 222 shares fell, while 86 rose; 7 of 11 sectors were lower, led by information technology stocks.

Insights
* This month, the index rose 2 percent
* This quarter, the index rose 8.8 percent
* This year, the index rose 2.8 percent, poised for the best year since 2019
* The index advanced 2.1 percent in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 2.4 percent below its 52-week high on Feb. 20, 2020 and 56.9 percent above its low on March 23, 2020
* The S&P/TSX Composite is unchanged in the past 5 days and rose 1.3 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.4 on a trailing basis and 23.7 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$2.72t
* 30-day price volatility fell to 8.21 percent compared with 8.64 percent in the previous session and the average of 11.62 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | -76.2405| -4.0| 1/9
Materials | -15.3910| -0.6| 13/39
Energy | -12.3989| -0.6| 5/18
Health Care | -8.9588| -4.4| 1/8
Consumer Discretionary | -1.2527| -0.2| 3/10
Communication Services | -1.0887| -0.1| 2/4
Real Estate | -0.8236| -0.2| 11/14
Consumer Staples | 1.0701| 0.2| 6/5
Industrials | 2.6358| 0.1| 12/17
Utilities | 6.6157| 0.7| 14/2
Financials | 15.3131| 0.3| 18/8

US
By Vildana Hajric
(Bloomberg) — U.S. stocks pulled back from record highs, with small-cap shares posting their biggest drop in a month, as prospects faded for bigger government aid checks to individuals.
The dollar weakened. The Russell 2000 Index tumbled almost 2%, while the S&P 500 finished only slightly lower. A gauge of global equities was set to close at a record after the U.S. House backed President Donald Trump’s proposal to boost aid checks for individuals, but pulled back from its high of the day as Senate Republicans blocked an attempt by Democrats to increase the direct payments to $2,000 from $600.
The year is coming to a close with risk assets such as stocks, corporate bonds and Bitcoin just off record highs. As investors try to gauge the impact of the pandemic and the pace of U.S. vaccine distribution, the S&P 500 is set to end the year 15% higher.
On the coronavirus front, more restrictions are being imposed to fight the spread of the new, more infectious strain. Covid-19 hospitalizations in the U.S. reached new highs, while Southern California plans to extend a regional stay-at-home order. South Korea’s daily toll of fatalities rose to a record, while Thailand reported its first virus death since November.
In Europe, the Stoxx 600 rose as the FTSE 100 Index rallied in the first session since the U.K.’s Christmas Eve trade deal with the European Union. Uncertainty about what accord will be struck on financial services weighed on Lloyds Banking Group Plc, NatWest Group Plc and Barclays Plc.
Elsewhere, the pound recouped some of Monday’s decline.
Here are some key events coming up:
* U.S. pending home sales and goods trade balance data are due Wednesday.
* U.S. initial jobless claims figures are published Thursday.
* Most global stock markets are closed Friday for New Year’s Day.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.2% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index gained 0.8%.
* The MSCI Asia Pacific Index jumped 1.4%.
* The MSCI Emerging Market Index increased 1.1%.

Currencies
* The Bloomberg Dollar Spot Index sank 0.4%.
* The euro increased 0.3% to $1.2249.
* The British pound gained 0.4% to $1.3499.
* The Japanese yen strengthened 0.3% to 103.53 per dollar.

Bonds
* The yield on 10-year Treasuries rose one basis point to 0.93%.
* Germany’s 10-year yield dipped less than one basis point to -0.58%.
* Britain’s 10-year yield fell four basis points to 0.21%.

Commodities
* West Texas Intermediate crude gained 0.8% to $47.99 a barrel.
* Gold strengthened 0.3% to $1,879.61 an ounce.
–With assistance from Nancy Moran, Andreea Papuc, Cecile Gutscher and Sid Verma.

Have a nice evening.

Be magnificent!
As ever,

Carolann

It is one life whether we spend it in laughing or weeping.
                                                  -Japanese Proverb

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

December 24, 2020 Newsletter

Dear Friends,

Tangents: Happy Christmas.

Christmas Day was fixed by the Church in 440 AD to be December 25th.  It was the day of the winter solstice, which had anciently been a time of festival among heathen peoples.  In Anglo Saxon England, the year began on December 25th but from the late twelfth century until the adoption of the Gregorian calendar in 1752, the year began on Lady Day, March 25th.  Christmas Day has the advantage of being exactly nine months after Lady Day, the traditional length of  a human pregnancy. –from Brewster’s

Stay happy | How to look after your mental health at Christmas time. -The Telegraph.

Recently, clients of mine, a husband and wife,  brought me some vegetables that they grew in their garden.  One of the vegetables was a squash.  I deliberated what to do with it and then I found this recipe for curried winter squash and cauliflower soup in one of my cookbooks.  It turned out to be fantastic and Gary and I had three meals from this recipe for soup made with a single squash.

CURRIED WINTER SQUAH AND CAULIFLOWER SOUP
The literati who gathered at the Algonquin Hotel in the 1930s were never so involved in haute culture that they forgot about haute cuisine.  One of their favorites was a curried concoction called Algonquin Special Soup.  So popular was this dish with Gertrude Stein that she requested the recipe from the Algonquin’s chef, who provided it, as Alice B. Toklas puts it, “through the kindness of the so amiable maître d’hôtel Georges.  Our version of that curried soup is also lovable and warming, especially on a cold December night in front of the fireplace.

2 tablespoons vegetable oil                                                      3 cups butternut squash, peeled and diced
1 onion, chopped
1 stalk celery, chopped                                                            1 head cauliflower, trimmed and cut into florets
1 pear or apple, peeled, cored, and chopped                              1 small potato, peeled and diced
1 teaspoon curry powder, or to taste                                         Salt and pepper
½ teaspoon ground coriander                                                  ½ cup fresh cilantro leaves
6 cups Chicken Stock or Vegetable Stock                                   ½ cup sour cream

In a large heavy saucepan, heat oil over medium-high heat.  Cook onion, celery, and pear about 4 minutes.  Stir in curry powder and coriander and cook another minute.  Add stock and bring to boil.  Add squash, cauliflower, and potato and simmer 20 minutes.  Purée in a blender or food processor and taste for salt and pepper.  Purée the cilantro leaves with sour cream.  Ladle soup into individual bowls.  Swirl some cilantro cream into each serving.
P.S. This is the actual recipe; I used pear and it was wonderful.  I found the soup needed a lot more curry than the recipe calls for and I added a couple of additional Indian spices as well.

“The clock is no longer ticking.”
EU chief negotiator Michel Barnier
PHOTOS  OF THE DAY

Prime Minister Boris Johnson is pictured after calling President of European Commission, Ursula von der Leyen.
CREDIT: PIPPA FOWLES/NO10 DOWNING STREET

A British man offers a bottle of whisky to a customs officer from Le Havre to celebrate after Great Britain become a member of the European Economic Community (EEC) on January 1, 1973
CREDIT: JEAN-PIERRE PREVEL/AFP VIA GETTY IMAGES

A woman holds up Euro notes that she withdrew from an ATM machine moments after midnight January 1, 2002 in Maastricht, The Netherlands.
CREDIT: TELEGRAPH, DECEMBER 24, 2020
Market Closes for December 24th, 2020 

Market
Index
Close Change
Dow
Jones
30199.87 +70.04
+0.33%
S&P 500 3703.06 +13.05
+0.35%
NASDAQ 12804.734 +33.620

+0.26%

TSX 17623.88 +30.31
+0.17%

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 26668.35 +143.56
+0.54%
HANG
SENG
26386.56 +43.46
+0.17%
SENSEX 46973.54 +529.36
+1.14%
FTSE 100* 6502.11 +6.36

+0.10%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.721 0.728
CND.
30 Year
Bond
1.267 1.277
U.S.   
10 Year Bond
0.9214 0.9430
U.S.
30 Year Bond
1.6562 1.6810

Currencies

BOC Close Today Previous  
Canadian $ 0.78015 0.77833
US
$
1.28181 1.28480
Euro Rate
1 Euro=
Inverse
Canadian $ 1.56184 0.63866
US
$
1.21846 0.82071

Commodities

Gold Close Previous
London Gold
Fix
1875.00 1877.10
Oil
WTI Crude Future 47.82 47.97

Market Commentary:
On this day in 1963, total trading volume for the year-to-date exceeded 1.124 billion shares on the New York Stock Exchange—finally surpassing the annual record set in 1929.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets climbed for second straight day after health care stocks gained.
The S&P/TSX Composite index rose 0.2% in Toronto. Pot stocks led the outperformance in the health care sector.
Meanwhile, tech stocks slumped, led by Shopify. Magna International rose 9% after LG Electronics said it plans to spin off some its electric-car components business into a new joint venture with the Canadian group.

Commodities
* Western Canadian Select crude oil traded at a $14.75 discount to West Texas Intermediate
* Spot gold rose 0.6% to $1,872.12 an ounce

FX/Bonds
* The Canadian dollar rose 0.4%. It was at C$1.2852 per U.S. dollar as of 4pm New York time.
* The 10-year Canada government bond yields rose 3 basis points to 0.729%.

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite is rising for the third day, climbing 0.2 percent, or 36.43 to 17,630.00 in Toronto.
Shopify Inc. contributed the most to the index gain, increasing 1.7 percent. TransAlta Renewables Inc. had the largest increase, rising 6.5 percent.
In midday trading, 126 of 222 shares rose, while 92 fell; 8 of 11 sectors were higher, led by information technology stocks.

Insights
* So far this week, the index rose 0.5 percent
* This quarter, the index rose 9.3 percent
* This month, the index rose 2.5 percent
* This year, the index rose 3.3 percent, poised for the best year since 2019
* The index advanced 2.6 percent in the past 52 weeks. The MSCI  AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 1.9 percent below its 52-week high on Feb. 20, 2020 and 57.8 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.5 on a trailing basis and 23.8 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.71t
* 30-day price volatility fell to 8.64 percent compared with 8.71 percent in the previous session and the average of 12.40 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 22.2698| 1.2| 6/3
Utilities | 5.9421| 0.7| 13/3
Financials | 5.8369| 0.1| 15/11
Industrials | 3.5807| 0.2| 15/14
Consumer Staples | 2.9512| 0.4| 8/3
Real Estate | 2.1166| 0.4| 20/5
Communication Services | 2.1116| 0.2| 6/0
Materials | 0.6033| 0.0| 31/21
Health Care | -3.6103| -1.7| 4/5
Consumer Discretionary | -5.2190| -0.8| 6/7
Energy | -6.7907| -0.3| 2/20

US
By Yakob Peterseil
(Bloomberg) — U.S. stocks rose for a second day in holiday-shortened trading as investors monitored the latest developments on the Congressional aid package, while the pound strengthened after a post-Brexit trade accord agreement was reached.
The S&P 500 edged higher, with technology and real estate shares gaining, while financials and energy stocks led declines.
A scuffle over pandemic relief is set to run up against a federal funding deadline next week as Democrats side with President Donald Trump in his demand for $2,000 payments to most Americans. The dollar weakened and Treasury yields were little changed.
The pound strengthened and the Stoxx 600 Index gained after the U.K. clinched a historic trade deal with the European Union, averting the threat of an acrimonious breakup and laying the foundations for a new relationship with its biggest and nearest commercial partner. Alibaba Group Holding’s U.S.-listed shares tumbled the most ever in intraday trading on concern over China’s inquiry into alleged monopolistic practices at the e-commerce company. Volumes were subdued in many countries on Thursday. Most financial markets will be closed Friday for Christmas Day.
“Right now we have a lot of animal spirits surging into year end,” Michael Purves, founder and CEO at Tallbacken Capital Advisors, said on Bloomberg TV. “As constructive as I am on markets in the broader term, I do expect there will be a hangover of sorts to process this over-extension some time later this winter.”

These are the main moves in markets:
Stocks
*The S&P 500 Index rose 0.2% as of 12:46 p.m. New York time.
*The Dow Jones Industrial Average increased 0.2% to 30,129.83.
*The Nasdaq Composite Index rose 0.2% to 12,771.11.
*The Stoxx Europe 600 Index climbed 0.1% to 395.98, the highest in a week.

Currencies
*The Bloomberg Dollar Spot Index declined 0.1% to 1,125.77.
*The euro was little changed at $1.2185.
*The British pound rose 0.4% to $1.3551, the strongest in a week.
*The Japanese yen depreciated 0.1% to 103.64 per dollar, the weakest in more than a week.

Bonds
*The yield on 10-year Treasuries decreased one basis point to 0.93%.
*Germany’s 10-year yield rose five basis points to -0.55%, reaching the highest in more than three weeks on the first advance in a week and the biggest rise in more than six weeks.
*Britain’s 10-year yield dipped three basis points to 0.257%.

Commodities
*West Texas Intermediate crude decreased 0.3% to $47.97 a barrel.
*Gold strengthened 0.3% to $1,878.80 an ounce.
–With assistance from Vassilis Karamanis and Adam Haigh.

Have a wonderful holiday season everyone.

Be magnificent!
As ever,

Carolann

First they ignore you, then they ridicule you, then they fight you, then you win.
                                                                  -Mahatma Gandhi, 1869-1948

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

December 23, 2020 Newsletter

Dear Friends,

Tangents:  Night of the radishes, Mexico.

Yousuf Karsh, photographer, b. 1908.
Akihito, Japanese emperor, b. 1933.

On Dec. 23, 1986, the experimental airplane Voyager, piloted by Dick Rutan and Jeana Yeager, completed the first non-stop, around-the-world flight without refueling as it landed safely at Edwards Air Force Base in California. Go to article »

Did you miss Jupiter and Saturn’s great conjunction? 
We’ve got you: Check out these stunning images of the “Christmas Star.” You’ll also be able to see it again in the sky tonight. 

Looking to fall in love with Mozart, opera or the piano? Five minutes of listening is all it will take, and this list is a great place to start.

Da Vinci drawings have their own microbiomes.
PHOTOS OF THE DAY

Trees covered with hoar-frost on Galyateto Mountain, Hungary
CREDIT: PETER KOMKA/MTI VIA AP

A Lebanese man dressed with a Santa Claus outfit rides on a standup paddle in Lebanon’s northern coastal city of Batroun 
CREDIT: IBRAHIM CHALHOUB/AFP VIA GETTY IMAGES

Tel Aviv, Israel: A group of professional volleyball players at the beach play volleyball on a sunny day, wearing Santa Claus costumes, three days prior to Christmas.
CREDIT: ZIV KOREN/POLARIS

Christmas illuminations and decorations are on display at a roadside in Colombo, Sri Lanka
CREDIT: CHAMILA KARUNARATHNE/EPA-EFE/SHUTTERSTOCK

Incredible images capture the northern lights (aurora borealis) seen from the United Kingdom. The stunning colours were seen from Cullivoe, Yell, Shetland Islands, Scotland.
CREDIT: RYAN NISBET/TRIANGLE NEWS
Market Closes for December 23rd, 2020 

Market
Index
Close Change
Dow
Jones
30129.83 +114.32
+0.38%
S&P 500 3690.01 +2.75
+0.07%
NASDAQ 12771.113 -36.80

-0.29%

TSX 17593.57 +41.11
+0.23%

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 26524.79 +88.40
+1.37%
HANG
SENG
26343.10 +223.85
+0.86%
SENSEX 46444.18 +437.49
+0.95%
FTSE 100* 6495.75 +42.59

+0.66%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.728 0.703
CND.
30 Year
Bond
1.277 1.253
U.S.   
10 Year Bond
0.9430 0.9164
U.S.
30 Year Bond
1.6810 1.6482

Currencies

BOC Close Today Previous  
Canadian $ 0.77833 0.77472
US
$
1.28480 1.29079
Euro Rate
1 Euro=
Inverse
Canadian $ 1.56577 0.63866
US
$
0.82055 0.82055

Commodities

Gold Close Previous
London Gold
Fix
1877.10 1880.00
Oil
WTI Crude Future 47.97 46.90

Market Commentary:
On this day in 1913, President Woodrow Wilson signed into law the Federal Reserve Act, authorizing the creation of the Federal Reserve System to monitor the nation’s banks and modulate the money supply.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets climbed for second straight day after health care stocks gained.
The S&P/TSX Composite index rose 0.2% in Toronto. Pot stocks led the outperformance in the health care sector.
Meanwhile, tech stocks slumped, led by Shopify.
Magna International rose 9% after LG Electronics said it plans to spin off some its electric-car components business into a new joint venture with the Canadian group.

Commodities
* Western Canadian Select crude oil traded at a $14.75 discount to West Texas Intermediate
* Spot gold rose 0.6% to $1,872.12 an ounce

FX/Bonds
* The Canadian dollar rose 0.4%. It was at C$1.2852 per U.S. dollar as of 4pm New York time.
* The 10-year Canada government bond yields rose 3 basis points to 0.729%.

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.2 percent, or 41.11 to 17,593.57 in Toronto.
Today, financials stocks led the market higher, as 7 of 11 sectors gained; 151 of 222 shares rose, while 65 fell. Magna International Inc. contributed the most to the index gain, increasing 8.5 percent. MEG Energy Corp. had the largest increase, rising 9.4 percent.

Insights
* This month, the index rose 2.3 percent
* This quarter, the index rose 9.1 percent
* This year, the index rose 3.1 percent, poised for the best year since 2019
* The index advanced 2.7 percent in the past 52 weeks. The MSCI AC Americas Index gained 16 percent in the same period
* The S&P/TSX Composite is 2.1 percent below its 52-week high on Feb. 20, 2020 and 57.5 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.9 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.5 on a trailing basis and 23.6 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$2.7t
* 30-day price volatility fell to 8.71 percent compared with 9.61 percent in the previous session and the average of 12.68 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 50.9218| 1.0| 21/5
Energy | 35.4633| 1.8| 22/1
Materials | 33.9235| 1.4| 46/5
Consumer Discretionary| 14.0630| 2.1| 6/7
Utilities | 4.9412| 0.6| 13/3
Health Care | 4.2862| 2.1| 8/1
Communication Services| 3.5129| 0.4| 4/2
Real Estate | -0.5140| -0.1| 11/13
Industrials | -0.5572| 0.0| 14/13
Consumer Staples | -3.1978| -0.5| 5/6
Information Technology| -101.7245| -5.1| 1/9

US
By Kamaron Leach
(Bloomberg) — U.S. stocks rose for the first time in four days even as uncertainly surrounded President Donald Trump’s demand for changes to pandemic relief legislation. The pound gained as an outline of the post-Brexit trade deal was reached.
The benchmark S&P 500 managed to finish marginally higher despite a late session slide amid a flurry of headlines on the status of the aid package. The Nasdaq Composite and Russell 2000 indexes set intraday record highs. Trump is demanding that lawmakers increase the stimulus checks due to go out to most Americans to $2,000 from $600 in the same week that Congress passed the $900 billion bipartisan package. “By and large the market has continually seemed to focus on the more positive bull cases around each macro event,” said Chris Larkin, managing director of E*Trade Financial’s trading and investing product. “We’re seeing the market choosing to see the cup half full, as it shrugs off the possibility of the stimulus bill failing, and instead viewing it as a catalyst for larger stimulus cash in the pockets of consumers.” Read more: Wall Street Shrugs Off Worry About Trump’s Stimulus Critiques
The dollar stayed lower after initial jobless claims came in better than expected. Personal income for November fell by 1.1%. Treasury yields rose. European stocks rose as trade and transport links between the U.K. and its neighbors reopened and Brexit negotiators put
the finishing touches to an accord, said officials, who spoke on condition of anonymity. Travel firms and automakers led gains, with Daimler AG rising on a report the German carmaker is considering an initial public offering of its truck unit. Investors were are looking past the president’s comments to the promise of pandemic relief that will come sooner or later. House Speaker Nancy Pelosi seized on Trump’s call for larger individual checks and said the House would try to pass this
additional measure during a pro forma session on Thursday. “He’s historically, as I believe, negotiating as he always does,” said Todd Morgan, Chairman and founding member of Bel Air Investment Advisers. “You have to look beyond the next few weeks with this president because I think good things are going to come straight ahead.”
Elsewhere, crude oil reversed an earlier decline. Gold snapped a three-day slide.

     Here are some key events coming up:
* U.S. bond and stock trading and markets in other parts of the world will shut early on Thursday for the Christmas holidays. Most global markets are shut Friday.

Here are the main moves in markets:
Stocks
* The S&P 500 Index increased 0.1% to 3,690.01 as of 4:07 p.m. New York time.
* The Dow Jones Industrial Average advanced 0.4% to 30,129.83.
* The Nasdaq Composite Index declined 0.3% to 12,771.11, the largest decrease in two weeks.
* The Stoxx Europe 600 Index jumped 1.1% to 395.49.
* The MSCI All-Country World Index climbed 0.4% to 636.07.

Currencies
* The Bloomberg Dollar Spot Index fell 0.4% to 1,127.31, the biggest fall in more than a week.
* The euro gained 0.2% to $1.2191.
* The British pound surged 1% to $1.3498, the biggest jump in almost seven weeks.
* The Japanese yen strengthened 0.1% to 103.53 per dollar.

Bonds
* The yield on 10-year Treasuries increased three basis points to 0.94%, the biggest increase in almost three weeks.
* Germany’s 10-year yield climbed five basis points to -0.55%, hitting the highest in three weeks with the first advance in a week and the largest surge in more than six weeks.
* Britain’s 10-year yield jumped 10 basis points to 0.286%, the biggest surge in about nine months.

Commodities
* West Texas Intermediate crude gained 2.2% to $48.04 a barrel, the largest rise in almost two weeks.
* Gold strengthened 0.6% to $1,872.33 an ounce.
–With assistance from Cecile Gutscher.

Have a great night.

Be magnificent!
As ever,

Carolann

In the end these things matter most: How well did you love? 
How fully did you live?  How deeply did you let go?
                -Siddhārtha Gautama, c. 5th century BC.

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

December 22, 2020 Newsletter

Dear Friends,

Tangents:
Giacomo Puccini, composer, b. 1858.
Diane Sawyer, journalist, b. 1946
Ralph Fiennes, actor, b. 1962

Lech Walesa sworn in as Poland’s 1st popularly elected president , 1990.


American soldiers of the 117th Infantry Regiment, Tennessee National Guard, part of the 30th Infantry Division, move past a destroyed American M5A1 “Stuart” tank on their march to recapture the town of St. Vith during the Battle of the Bulge, January 1945.
1944 During the Battle of the Bulge, Germany demanded the surrender of American troops at Bastogne, Belgium; Brigadier Gen. Anthony C. McAuliffe reportedly replied: “Nuts!” Go to article >>

From “Wind of Change” to “My Year in Mensa,” this list has the year’s best podcasts.

Loneliness can help grow parts of brain tied to imagination, study finds. –CNN.

With the help of Celine Dion music, comfort food like a savory tourtière and a virtual tour of a local gallery, you can pretend you’re in Quebec City.

Snowflakes are cool. (h/t Ellen Kominers)

Did Charles Dickens steal his ghost from the Romans?
A ghost in clanking chains is an image indelibly linked with A Christmas Carol. Now a historian claims Charles Dickens lifted the description of Jacob Marley’s ghost from classical writings produced 1,700 years earlier. Daisy Dunn explains how she was struck by the similarity between Dickens’ description of the ghost, and a passage by Pliny the Younger
PHOTOS OF THE DAY

Senior druid King Arthur Pendragon performs the ceremony on the Winter Solstice at the closed Stonehenge 
CREIDT: FINNBARR WEBSTER/GETTY IMAGES

People ice skate around the Christmas tree in Kyiv, Ukraine
CREDIT: EFREM LUKATSKY/AP

Tiger Woods of the United States and son Charlie Woods fist bump on the 18th hole during the final round of the PNC Championship at the Ritz Carlton Golf Club
CREDIT: MIKE EHRMANN/GETTY IMAGES
Market Closes for December 22nd, 2020 

Market
Index
Close Change
Dow
Jones
30015.51 -200.94
-0.67%
S&P 500 3687.26 -7.66
-0.21%
NASDAQ 12807.918 +65.401

+0.51%

TSX 17552.46 +51.57
+0.29%

 

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 26436.39 -278.03
-1.04%
HANG
SENG
26119.25 -187.43
-0.71%
SENSEX 46006.69 +452.73
+0.99%
FTSE 100* 6453.16 +36.84

+0.57%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.703 0.726
CND.
30 Year
Bond
1.253 1.281
U.S.   
10 Year Bond
0.9164 0.9364
U.S.
30 Year Bond
1.6482 1.6729

Currencies

BOC Close Today Previous  
Canadian $ 0.77472 0.77773
US
$
1.29079 1.28579
Euro Rate
1 Euro=
Inverse
Canadian $ 1.56991 0.63698
US
$
1.21624 0.82220

Commodities

Gold Close Previous
London Gold
Fix
1880.00 1879.75
Oil
WTI Crude Future 46.90 47.74

Market Commentary:
On this day in 1973, the oil ministers of OPEC’s six Persian Gulf member states said they would unilaterally raise the price of crude oil to $7 a barrel, and that prices would rise to $11.65 on Jan. 1, 1974. In two-and-a-half months, OPEC has raised the price of oil by 128%.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets rebounded on Tuesday as tech stocks outperformed, led by Shopify.
The S&P/TSX Composite index rose 0.3% in Toronto after falling the last two sessions. The e-commerce company Shopify climbed 6.7%, gaining for a second day to hit a record.
Furthermore, another tech stock Lightspeed POS, climbed 11%, after getting a new outperform rating at Credit Suisse on its growth view. Energy and materials, on the other hand, were the two worst performing sectors as metals and oil prices fell.
Meanwhile, to Mark Machin — the CEO of one of the world’s largest pension funds, Canada Pension Plan Investment Board –  the exuberance in public markets is a signal to extend his fund’s already-huge bet on private assets. Machin sees a wave of cash chasing infrastructure and hard assets in 2021 and beyond, amid stretched valuations for stocks and bonds.

Commodities
* Western Canadian Select crude oil traded at a $14.47 discount to West Texas Intermediate
* Spot gold fell 0.8% to $1,861.16 an ounce

FX/Bonds
* The Canadian dollar fell 0.4%. It was at C$1.2908 per U.S. dollar as of 4:14pm New York time.
* The 10-year Canada government bond yields fell 3 basis points to 0.700%.

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose 0.3 percent at 17,552.46 in Toronto. The move follows the previous session’s decrease of 0.2 percent.
Today, information technology stocks led the market higher, as 5 of 11 sectors gained; 86 of 222 shares rose, while 134 fell. Shopify Inc. contributed the most to the index gain, increasing 7.3 percent. Lightspeed POS Inc. had the largest increase, rising 11.5 percent.

Insights
* This month, the index rose 2.1 percent
* This quarter, the index rose 8.9 percent
* This year, the index rose 2.9 percent, poised for the best year since 2019
* The index advanced 2.5 percent in the past 52 weeks. The MSCI AC Americas Index gained 16 percent in the same period
* The S&P/TSX Composite is 2.3 percent below its 52-week high on Feb. 20, 2020 and 57.1 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.3 percent in the past 5 days and rose 3.1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.4 on a trailing basis and 23.6 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$2.7t
* 30-day price volatility fell to 9.61 percent compared with 9.89 percent in the previous session and the average of 12.87 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 108.0621| 5.7| 9/1
Industrials | 15.6971| 0.7| 19/9
Utilities | 6.2288| 0.7| 11/4
Consumer Discretionary | 5.4998| 0.8| 6/7
Real Estate | 3.6757| 0.7| 17/9
Health Care | -0.7789| -0.4| 4/5
Communication Services | -1.2119| -0.1| 2/5
Consumer Staples | -1.8540| -0.3| 6/5
Financials | -7.9863| -0.2| 9/17
Energy | -24.6726| -1.2| 0/23
Materials | -51.0725| -2.1| 3/49

US
By Kamaron Leach and Cecile Gutscher
(Bloomberg) — U.S. stocks fell for a third day as optimism over a Covid-19 relief bill was tempered by the emergence of a new variant of the virus and a slew of lockdowns and travel curbs to contain it. The dollar advanced and Treasuries gained.
The benchmark S&P 500 fluctuated between gains and losses before closing lower, with consumer services and energy the biggest sector decliners. The Nasdaq Composite and Russell 2000 set record highs in what is a holiday shortened week. U.S. lawmakers cleared a $2.3 trillion year-end spending bill and stimulus package. President-elect Joe Biden warned the “darkest days” of the pandemic were still to come and called on Congress to be ready early next year to produce another stimulus package.
“Sometimes you get exaggerated moves in stocks due to lack of liquidity,” said Jonathan Boyar, managing director at BoyarValue Group. Amgen Inc. was among the biggest losers in the Dow Jones Industrial Average, falling after a study showed an experimental drug failed to cut asthma patients’ dependence on steroids. Apple Inc. paced the gain in the Nasdaq after a report said the company is planning to make a battery-powered self-driving car as soon as 2024. Tesla Inc. fell for a second day.
In Europe, stocks rebounded from their steepest slump in almost two months Monday, with all industry groups in the green. British Airways owner IAG SA surged more than 5% as travel shares bounced back. Crude oil edged lower for a second day.
The global stock rally is looking increasingly fragile after equities touched a record high last week, as lockdowns and rising virus cases threaten to overshadow U.S. pandemic relief and the initial rollout of vaccines. The bill passed by Congress on Monday represents the second-biggest economic rescue package in American history.
“The agreed fiscal relief package will undoubtedly help mitigate some of the negatives but unfortunately, it won’t be able to fully offset the effects of people staying at home as many businesses face tighter restrictions or are even forced to close,” according to James Knightley, chief international economist at ING Groep.
In the U.K., where the virus variant has taken hold, a full lockdown came into force in London and southeast England. Europe and regions from Canada to Hong Kong have suspended travel links to the island nation, piling pressure onto the government as it tries to salvage a free-trade agreement with the European Union. The bloc rebuffed Prime Minister Boris Johnson’s latest concessions on fishing rights, keeping the pound lower.

Here are some key events coming up:
* EIA crude oil inventory report is due Wednesday.
* U.S. jobless claims, durables, personal income data comes Wednesday.
* U.S. bond and stock trading and markets in other parts of the  world will shut early on Thursday for the Christmas holidays. Most global markets are shut Friday.

These are the main moves in markets:
Stocks
*The S&P 500 Index decreased 0.2% to 3,687.27 as of 4:02 p.m. New York time, the lowest in more than a week.
*The Dow Jones Industrial Average sank 0.7% to 30,015.51, the lowest in more than a week on the biggest dip in more than three weeks.
*The Nasdaq Composite Index increased 0.5% to 12,807.92, the highest on record.
*The Stoxx Europe 600 Index surged 1.2% to 391.25, the biggest jump in five weeks.

Currencies
*The Bloomberg Dollar Spot Index jumped 0.6% to 1,132.18, the highest in more than a week on the largest climb in almost eight weeks.
*The euro sank 0.7% to $1.2162, the weakest in a week on the biggest dip in more than four months.
*The British pound fell 0.7% to $1.3368, the weakest in more than a week on the largest drop in more than a week.
*The Japanese yen depreciated 0.3% to 103.66 per dollar, the weakest in a week on the biggest dip in more than two weeks.

Bonds
*The yield on 10-year Treasuries declined two basis points to 0.92%, the largest drop in more than a week.
*Germany’s 10-year yield declined two basis points to -0.60%, the lowest in a week on the biggest fall in more than a week.
* Britain’s 10-year yield declined two basis points to 0.183%, the lowest in more than a week.

Commodities
*West Texas Intermediate crude dipped 2.1% to $46.94 a barrel, the lowest in more than a week.
*Gold depreciated 0.9% to $1,860.77 an ounce, the weakest in a week on the largest dip in almost two weeks.

Have a great night.

Be magnificent!
As ever,

Carolann

When I despair, I remember that all through history the way of truth and love  has always won. 
There have been tyrants and murderers and for a time they seem invincible, but in the end,
they always fall – think of it, always.
                                                  -Mahatma Gandhi, 1869-1948

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

December 21, 2020 Newsletter

Dear Friends,

Tangents: Happy First Day of Winter!

Look for the convergence of the planets Jupiter and Saturn tonight – known as the Christmas star because they will appear as one bight star in the night sky.  This is the brightest they will be in 800 years.
The winter solstice, a meteor shower and the alignment of our solar system’s two biggest planets all converge at once in a convenient holiday package.
Jupiter and Saturn will look as if they are practically touching, in their closest visible proximity since the year 1226. A bit later in the evening, you might see some fireballs from the Ursid meteor shower, which peaks tonight.
But for many of us, the night’s best gift is that daylight hours will now start to lengthen in the Northern Hemisphere, until the summer solstice in June. J

1620: Pilgrims land at Plymouth, Mass.

On Dec. 21, 1988, a terrorist bomb exploded aboard a Pan Am Boeing 747 over Lockerbie, Scotland, killing 270 people. Go to article »

Looking for a new hobby? Knitting is relatively inexpensive and has great mental health benefits.

PICTURES OF THE DAY

The annual Santa Run takes place with socially distanced households running together at staggered intervals, rather than the usual mass start, North Berwick, East Lothian, Scotland.
CREDIT: SALLY ANDERSON/EDINBURGHELITEMEDIA.CO.UK

Norway’s Halvor Egner Granerud competes in the men’s FIS Ski Jumping World Cup competition in Engelberg, central Switzerland.
CREDIT: FABRICE COFFRINI/AFP VIA GETTY IMAGES

A Christmas decoration is illuminated in Szekesfehervar, Hungary.
CREDIT: TAMAS VASVARI/EPA-EFE/SHUTTERSTOCK

Market Closes for December 21st, 2020 

Market
Index
Close Change
Dow
Jones
30216.45 +37.40
+0.12%
S&P 500 3694.92 -14.49
-0.39%
NASDAQ 12742.516 -13.122

-0.10%

TSX 17500.89 -33.74
-0.19%

 

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 26714.42 -48.97
-0.18%
HANG
SENG
26306.68 -191.92
-0.72%
SENSEX 45553.96 -1406.73
-3.00%
FTSE 100* 6416.32 -112.86

-1.73%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.726 0.749
CND.
30 Year
Bond
1.281 1.301
U.S.   
10 Year Bond
0.9364 0.9446
U.S.
30 Year Bond
1.6729 1.6891

Currencies

BOC Close Today Previous  
Canadian $ 0.77773 0.78218
US
$
1.28579 1.27848
Euro Rate
1 Euro=
Inverse
Canadian $ 1.57360 0.63548
US
$
1.22384 0.81710

Commodities

Gold Close Previous
London Gold
Fix
1879.75 1890.75
Oil
WTI Crude Future 47.74 49.10

Market Commentary:
On this day in 1998, the Standard & Poor’s 500-stock index closed above 1200 for the first time, finishing the day at 1202.84. 

Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks fell along with global equities as a new variant of the coronavirus in the U.K. raised investor worry of further lockdowns and travel restrictions. The S&P/TSX Composite index shed 0.2%, paring back earlier losses of as much as 1.3%. Tech and materials were the only two sectors in the green on Monday. Energy stocks were the worst performers as crude oil prices slumped the most in six weeks. Meanwhile, Oxford Properties Group Inc. is proposing to turn an area of midtown Toronto that’s mostly parking lots into a mix of apartments, offices and retail space, a major bet that demand for dense urban living will rebound after the pandemic.

Commodities
* Western Canadian Select crude oil traded at a $14.50 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,876.31 an ounce

FX/Bonds
* The Canadian dollar fell 0.5%. It was at C$1.2854 per U.S. dollar as of 4:05pm New York time.
* The 10-year Canada government bond yields fell 3 basis points to 0.724%.

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.2 percent, or 33.74 to 17,500.89 in Toronto. TC Energy Corp. contributed the most to the index decline, decreasing 3.3 percent. Enerplus Corp. had the largest drop, falling 7.2 percent. Today, 143 of 222 shares fell, while 77 rose; 9 of 11 sectors were lower, led by energy stocks.
Insights
* This month, the index rose 1.8 percent
* This quarter, the index rose 8.6 percent
* This year, the index rose 2.6 percent, poised for the best year since 2019
* The index advanced 2.2 percent in the past 52 weeks. The MSCI AC Americas Index gained 16 percent in the same period
* The S&P/TSX Composite is 2.6 percent below its 52-week high on Feb. 20, 2020 and 56.6 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.7 percent in the past 5 days and rose 2.8 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.1 on a trailing basis and 23.5 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$2.69t
* 30-day price volatility fell to 9.89 percent compared with 10.02 percent in the previous session and the average of 13.02 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | -42.1440| -2.1| 0/23
Financials | -13.1128| -0.3| 8/17
Industrials | -9.1258| -0.4| 8/21
Communication Services | -8.3224| -1.0| 0/7
Real Estate | -6.9270| -1.3| 2/24
Health Care | -3.4902| -1.7| 2/7
Consumer Discretionary | -3.0740| -0.5| 4/9
Consumer Staples | -1.2846| -0.2| 3/8
Utilities | -0.7781| -0.1| 5/11
Materials | 13.8825| 0.6| 39/12
Information Technology | 40.6299| 2.2| 6/4

US
By Vildana Hajric
(Bloomberg) — U.S. stocks slumped, joining a global decline as a new variant of the coronavirus in the U.K. and a wave of lockdowns and travel restrictions damped spirits. The S&P 500 Index dipped about 0.4%, dragged lower by losses for Tesla Inc., which fell more than 6% on its first day after being added to the U.S. benchmark. The Dow Jones Industrial Average eked out a gain as Goldman Sachs Group Inc. rallied after regulators approved a stock buyback. The yield on 10-year Treasuries retreated and the dollar climbed. The weakness in U.S. markets was minor compared to the rout seen in Europe, where the Stoxx 600 Index slumped the most since October as Italy, the Netherlands, Belgium and France closed their borders to the U.K. Travel and leisure stocks were hard hit.
Bulls did have some reason for optimism, including progress on a $900 billion U.S. economic aid package. Pfizer Inc. and BioNTech SE’s Covid-19 vaccine also won the backing of a key European review panel, and a first wave of inoculations continued in the U.S. Despite the positive developments, the emergence of the variant coronavirus strain in Britain put a damper on the return-to-work trade that’s lately taken hold. After global equities reached a record last week, traders pulled back to monitor the latest virus news. “Fiscal stimulus is clearly fading as a catalyst, with Covid trends dictating the direction of markets,” said Emily Roland, the co-chief investment strategist at John Hancock Investment Management. “Risk assets had been shrugging off worsening virus trends, but are now showing some signs of vulnerability.” The pound pared losses as U.K. Prime Minister Boris Johnson offered a fresh proposal to secure an 11th-hour trade deal with the European Union. Crude oil tumbled.

Here are some key events coming up:
* EIA crude oil inventory report is due Wednesday.
* U.S. jobless claims, durables, personal income data comes Wednesday.
* U.S. bond and stock trading and markets in other parts of the world will shut
early on Thursday for the Christmas holidays. Most global markets are shut Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index retreated 0.4% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index slumped 2.3%.
* The MSCI Asia Pacific Index declined 0.4%.
* The MSCI Emerging Market Index dropped 0.9%.

Currencies
* The Bloomberg Dollar Spot Index rose 0.2%.
* The euro decreased 0.2% to $1.2235.
* The British pound decreased 0.5% to $1.3454.
* The Japanese yen fell less than 0.1% to 103.34 per dollar.

Bonds
* The yield on 10-year Treasuries decreased one basis point to 0.94%.
* Germany’s 10-year yield decreased one basis point to -0.58%.
* Britain’s 10-year yield decreased four basis points to 0.20%.

Commodities
* West Texas Intermediate crude sank 2.8% to $47.74 a barrel.
* Gold fell 0.2% to $1,877,.11 an ounce.
–With assistance from Adam Haigh, Anchalee Worrachate, Cecile Gutscher, Yakob Peterseil and Sophie Caronello.


Have a  great night.

Be magnificent!
As ever,

Carolann

Never ruin an apology with an excuse.
       -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

December 18, 2020 Newsletter

Dear Friends,

Tangents: Happy Friday
Antonio Stradivari, violin maker, b. 1737
Paul Klee, painter, b. 1879
Steven Spielberg, film-maker, b. 1947
Brad Pitt, actor, b. 1964
Katie Holmes, actor, b. 1978

1917 the 18th Amendment to the US Constitution, authorizing prohibition of alcohol, is approved by the US congress and sent to the states for ratification.
1987 Ivan F. Boesky was sentenced to three years in prison for plotting Wall Street’s biggest insider-trading scandal. Go to article »

Atlantic City is blowing up an abandoned Trump casino, and for the right price, you could be the one to push the button 
Truly a gift for the person who has everything.

The NFL plans to honor health care workers by inviting some who’ve been vaccinated to Super Bowl LV
They deserve it.

Good Spirits: How do you make Chartreuse? Only two people know the full recipe for the French liquor — and they’re not talking.
Stephen Colbert compared President Trump’s health adviser to a comic book villain.

WHAT TO LISTEN TO

Here are this year’s 10 best episodes of “The Daily,” according to the team that makes the podcast.
Finally, time to pop the bubbly, from The NY Times:

“It’s been a dismal year,” our wine critic Eric Asimov writes, “but let’s look at the bright side: It’s nearly over.” That means bubbles can still feel right to mark the occasion, so Eric picked 10 sparkling wines — from Champagne and elsewhere — well worth drinking at multiple price points.

Simply emblazoning “Champagne” on a label is no guarantee of quality. But if you’re committed to the region, Eric created this guide to finding the best Champagne for you, including 10 excellent big houses and 10 small grower-producers (and a glossary so you can sound like you know what you’re talking about).

PHOTOS OF THE DAY

Indonesian photographer Dikye Ariani showed a mother common tailorbird as it fed an insect to its young, near Jakarta, winning Dikye a first-place runners up prize in the Wildlife / Macro category of the LightsFlare International Photography Awards.
CREDIT: DIKYE ARIANI/LIGHTSFLARE INTERNATIONAL PHOTOGRAPHY AWARDS / INDONESIAN PHOTOGRAPHER DIKYE ARIANI SHOWED A MOTHER COMMON TAILORBIRD AS IT FED AN INSECT TO ITS YOUNG, NEAR JAKARTA, WINNING DIKYE A FIRST-PLACE RUNNERS UP PRIZE IN THE WILDLIFE /MACRO CATEGORY OF THE LIGHTSFLARE INTERNATIONAL PHOTOGRAPHY AWARDS.

A woman walks through the early morning mist in Sefton Park, Liverpool, UK.
CREDIT: PETER BYRNE/PA WIRE

Tom Lahaye-Goffart of Belgium competes during the men’s 10 km sprint race at the Biathlon World Cup in Hochfilzen, Austria.
CREDIT: AP PHOTO/MATTHIAS SCHRADER

Swimmers braving the cold morning air and choppy seas at the beach to take an early morning dip at West Bay in Dorset, UK, shortly after sunrise. 
CREDIT: THE DAILY TELEGRAPH NEWS UK

Christmas cakes are created as Santa Claus with face mask at the bakery Schuerener Backparadies in Dortmund, Germany. As the number of cases of the COVID-19 disease caused by the SARS-CoV-2 coronavirus is still rising throughout Germany, the government has imposed a second hard lockdown with businesses closing from 16 December on until 10 January 2021.
CREDIT: THE DAILY TELEGRAPH NEWS UK

Market Closes for December 18th, 2020 

Market
Index
Close Change
Dow
Jones
30179.05 -124.32
-0.41%
S&P 500 3709.41 -13.07
-0.35%
NASDAQ 12755.637 -9.108

-0.07%

TSX 17534.63 -118.31
-0.67%

 

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 26763.39 -43.28
-0.16%
HANG
SENG
26498.60 -179.78
-0.67%
SENSEX 46960.69 +70.35
+0.15%
FTSE 100* 6529.18 -21.88

-0.33%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.749 0.742
CND.
30 Year
Bond
1.301 1.303
U.S.   
10 Year Bond
0.9446 0.9329
U.S.
30 Year Bond
1.6891 1.6797

Currencies

BOC Close Today Previous  
Canadian $ 0.78218 0.78591
US
$
1.27848 1.27241
Euro Rate
1 Euro=
Inverse
Canadian $ 1.56681 0.63824
US
$
1.22552 0.81598

Commodities

Gold Close Previous
London Gold
Fix
1890.75 1851.95
Oil
WTI Crude Future 49.10 48.36

Market Commentary:
On this day in 1899, rocked by news of heavy casualties in the battle against rebels in the Philippines, the Dow Jones Industrial Average suffered its fifth-worst daily percentage loss of all time, plunging 8.7%, or 5.57 points, to close the day at 58.27.

Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell Friday, with broad declines in real estate and mining stocks, and the benchmark index ended with its first weekly loss since October. The S&P/TSX Composite Index dropped 0.7% Friday, with financial, technology and energy shares also dragging it down. BlackBerry Ltd. plunged 16%; a disappointing earnings report brought an abrupt reversal to what had been epic rally. Precious metals stocks fell. A number of analysts predict the rally that drove some of the world’s largest miners to multiyear highs will extend into 2021 as the economy recovers from the steepest slump since the Great Depression. Oil rose for its seventh straight week as talks on a U.S. virus relief package added to optimism that Covid-19 vaccines will boost the demand outlook.

Commodities
* Western Canadian Select crude oil traded at a $14.60 discount to West Texas Intermediate
* Spot gold dipped about $1,880 an ounce

FX/Bonds
* The Canadian dollar fell 0.5%. It was at C$1.2782 per U.S. dollar as of 4:40 p.m. New York time.
* The 10-year Canada government bond yields 0.749%. That’s about 4 basis points higher than a week ago.

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell 0.7 percent at 17,534.63 in Toronto. The move follows the previous session’s increase of 0.5 percent. Franco-Nevada Corp. contributed the most to the index decline, decreasing 2.6 percent. BlackBerry Ltd. had the largest drop, falling 15.8 percent. Today, 165 of 222 shares fell, while 55 rose; 9 of 11 sectors were lower, led by materials stocks.
Insights
* So far this week, the index was little changed, heading for the biggest decline since the week ended Oct. 30 * This quarter, the index rose 8.8 percent
* This year, the index rose 2.8 percent, poised for the best year since 2019
* The index advanced 3 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 2.4 percent below its 52-week high on Feb. 20, 2020 and 56.9 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.2 on a trailing basis and 23.5 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$2.71t
* 30-day price volatility fell to 10.02 percent compared with 10.03 percent in the previous session and the average of 13.44 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -36.7334| -1.5| 6/45
Financials | -34.6614| -0.7| 2/24
Energy | -16.0257| -0.8| 8/14
Information Technology | -15.3749| -0.8| 1/9
Real Estate | -8.5315| -1.5| 3/23
Utilities | -6.9044| -0.8| 3/13
Consumer Staples | -2.5644| -0.4| 5/6
Health Care | -0.5106| -0.2| 4/6
Industrials | -0.0529| 0.0| 9/19
Communication Services | 1.0578| 0.1| 5/2
Consumer Discretionary | 1.9913| 0.3| 9/4

US
By Kamaron Leach and Sarah Ponczek
(Bloomberg) — U.S. stocks fell after Republican demands left Congress without a deal on a federal spending bill. Tesla Inc. edged higher in heavy trading ahead of its inclusion in the S&P 500. The benchmark index halted a three-day winning streak, though ended well of session lows with a late rally in a flood of trading volume associated with the quarterly expiration of options and futures on stocks and indexes. Almost 200 million shares of Tesla traded hands, four times the 30-day average, as funds benchmarked to the S&P 500 adjusted ahead of the carmaker’s Monday debut.
Stocks spent the session lower as the likelihood that Congress would reach an aid deal ahead of the weekend dwindled. Crude topped $48 a barrel in New York. The dollar rose for the first time in five days. The 10-year Treasury yield moved back above 0.93%. Gold slipped. Copper topped $8,000 a ton for the first time in more than seven years on rising demand and supply bottlenecks. Congress continues to wrangle over a legislation that would give people and businesses a lifeline to withstand the increasing economic toll caused by the pandemic. A bid by Republicans to constrain the Federal Reserve’s crisis lending programs is threatening to derail negotiations. The virus continued to rage across the country, forcing more jurisdictions to enact tighter restrictions.
“Markets have been pretty strong obviously in November and first part of December, so if we get a little bit of a selloff that shouldn’t surprise people a whole lot,” Keith Gangl, a portfolio manager at Gradient Investments, said in an interview. “It’s quadruple witching so it’s usually a little bit of different actions at the end of the day so we’ll see if that happens”
Here are the main moves in markets:

Stocks
* The S&P 500 Index fell 0.4% at 4 p.m. in New York.
* The Stoxx Europe 600 Index dipped 0.4%.
* The MSCI Asia Pacific Index sank 0.4%.
* The MSCI Emerging Market Index declined 0.3%.

Currencies
* The Bloomberg Dollar Spot Index rose 0.3%.
* The euro dipped 0.2% to $1.2239.
* The British pound decreased 0.6% to $1.3509.
* The onshore yuan weakened 0.1% to 6.54 per dollar.
* The Japanese yen weakened 0.2% to 103.32 per dollar.

Bonds
* The yield on 10-year Treasuries rose one basis point to 0.94%.
* The yield on two-year Treasuries was flat at 0.121%.
* Germany’s 10-year yield declined less than one basis point to -0.57%.
* Japan’s 10-year yield decreased less than one basis point to 0.01%.
* Britain’s 10-year yield sank five basis points to 0.24%.

Commodities
* West Texas Intermediate crude gained 1.2% to $48.93 a barrel.
* Brent crude dipped 0.1% to $51.46 a barrel.
* Gold strengthened 0.1% to $1,886.61 an ounce.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

In solitude the mind gains strength and learns to lean upon itself.
                                                -Laurence Sterne, 1713-1768

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

December 17, 2020 Newsletter

Dear Friends,

Tangents:
Saturnalia December 17-23: Roman masters served their slaves.
1790: Aztec calendar stone discovered.
On Dec. 17, 1903, Orville and Wilbur Wright made the first successful man-powered airplane flight, near Kitty Hawk, N.C.  Go to article »

Holly and Ivy have been used to decorate homes since the 9th century because they symbolise everlasting life.  The holly represents Christ’s crown of thorns and the berries his blood.

Astronomers are finding lots of ORCs and have no idea what they are. 

You’re doing hot chocolate wrong.

This restaurant has spent 1,200 years perfecting Christmas dinner

Hauling a tree in a Ferrari is totally normal.

Finally, with all the doom and gloom this winter, it’s important to remember to look on the bright side from time to time. If you knew where to look though, there was plenty of it in 2020. Harriet Barber rounds up the good news of 2020, from scientific breakthroughs and political firsts to mating pandas and rebounding Tasmanian devils. –The Telegraph.

Late Night:
President Trump’s would-be neighbors in Palm Beach, Fla., are opposing his plan to move to his Mar-a-Lago resort after he leaves the White House next month, citing the 1993 agreement Trump signed converting the property from a private residence into a social club.
“What an interesting turn of events,” Jimmy Kimmel said Wednesday. “This started with Donald Trump’s father, who made his fortune evicting people from their homes; now it ends with his son getting evicted from not one, but two houses in one month. In other words, God exists and has a very good sense of humor about all of this.”
PHOTOS OF THE DAY

Tourists walk amongst beach foam in the wake of cyclonic conditions at Currumbin Beach 
CREDIT: PATRICK HAMILTON/AFP VIA GETTY IMAGES

Bocketts Farm in Surrey, England has welcomed a newborn Cria ( baby Alpaca). The newborn is pictured with Ethan who is almost two years old
CREDIT: OLIVER DIXON

Model train enthusiast Gerhard Berndt explains details of his layout in his living room in Berlin. After years of stagnating sales, the model railway market has seen a boost in 2020, due to the restrictions imposed during the Coronavirus Covid-19 pandemic 
CREDIT: JOHN MACDOUGALL/AFP VIA GETTY IMAGES

A man rides his bike in front of a Christian Dior shop, illuminated for Christmas and New Year celebrations in Paris
CREDIT: ALAIN JOCARD/AFP VIA GETTY IMAGES
Market Closes for December 17th, 2020 

Market
Index
Close Change
Dow
Jones
30303.37 +148.83
+0.49%
S&P 500 3722.48 +21.31
+0.58%
NASDAQ 12764.746 +106.558

+0.84%

TSX 17652.94 +85.52
+0.49%

 

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 26806.67 +49.27
+0.18%
HANG
SENG
26678.38 +218.09
+0.82%
SENSEX 46890.34 +223.88
+0.48%
FTSE 100* 6551.06 -19.85

-0.30%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.742 0.729
CND.
30 Year
Bond
1.303 1.298
U.S.   
10 Year Bond
0.9329 0.9163
U.S.
30 Year Bond
1.6797 1.6555

Currencies

BOC Close Today Previous  
Canadian $ 0.78591 0.78472
US
$
1.27241 1.27433
Euro Rate
1 Euro=
Inverse
Canadian $ 1.56126 0.64051
US
$
1.22701 0.81499

Commodities

Gold Close Previous
London Gold
Fix
1851.95 1850.65
Oil
WTI Crude Future 48.36 47.82

Market Commentary:
On this day in 1903, the airplane age was born at 10:35 a.m., when Orville Wright headed into a 27-mph twisting wind and flew roughly 10 feet above the frigid sand dunes of Kitty Hawk, N.C., covering a distance of about 120 feet in 12 seconds.
Canada
By Michael Bellusci
(Bloomberg) — Canadian stocks advanced Thursday, rising for a third straight session.
The S&P/TSX Composite Index gained 0.5%, with materials and tech stocks leading. Health care lagged.
Gold rose to a one-month high after the Federal Reserve reiterated its commitment to supporting the economy and optimism grew that a virus-relief package will soon be delivered by U.S. lawmakers.
The Bank of Canada may be forced to wind down its bond purchases next year because its holdings are getting too large, but don’t expect the move to drive up domestic borrowing costs, CIBC said.
Canada’s population growth ground to a halt in the third quarter after travel restrictions and closed borders prevented most forms of immigration.

Commodities
* Western Canada Select crude oil traded at a $14.50 discount to West Texas Intermediate
* Spot gold rose 1.1% to ~$1,886 an ounce

FX/Bonds
* The Canadian dollar rose 0.1% to C$1.2726 per U.S. dollar
* The 10-year government bond yield rose 1.3 basis points to 0.742%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the third day, climbing 0.5 percent, or 85.52 to 17,652.94 in Toronto. The index advanced to the highest closing level since Feb. 21.
Shopify Inc. contributed the most to the index gain, increasing 2.2 percent. Seabridge Gold Inc. had the largest increase, rising 9.3 percent.
Today, 127 of 222 shares rose, while 93 fell; 5 of 11 sectors were higher, led by materials stocks.

Insights
* So far this week, the index rose 0.6 percent
* This quarter, the index rose 9.5 percent
* This year, the index rose 3.5 percent, poised for the best year since 2019
* The index advanced 3.4 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 1.8 percent below its 52-week high on Feb. 20, 2020 and 58 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.3 percent in the past 5 days and rose 4.2 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 27 on a trailing basis and 23.7 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$2.7t
* 30-day price volatility fell to 10.03 percent compared with 10.07 percent in the previous session and the average of 13.68 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 60.8099| 2.5| 49/3
Information Technology | 33.4982| 1.9| 9/1
Industrials | 12.9622| 0.6| 14/14
Consumer Discretionary | 4.0283| 0.6| 11/2
Utilities | 1.1812| 0.1| 7/8
Consumer Staples | -0.3788| -0.1| 4/7
Health Care | -3.5517| -1.7| 3/6
Real Estate | -3.5688| -0.6| 4/22
Communication Services | -4.7592| -0.5| 1/6
Financials | -5.4476| -0.1| 13/13
Energy | -9.2375| -0.5| 12/11

US
By Claire Ballentine and Vildana Hajric
(Bloomberg) — U.S. stocks notched a solid gain to close at all-time highs, even as lawmakers continue to wrangle over a federal-spending deal.
The S&P 500 climbed for a third day, even with Republicans and Democrats still unable to reach an agreement that would assist millions of Americans who face losing virus-era assistance later this month. Investors earlier took an unexpectedly large rise in jobless claims as a sign the two sides would be prodded toward a deal. The dollar slumped, Treasury yields rose and oil advanced. Bitcoin breached $23,000 for the first time.
With the clock ticking to renew pandemic aid, leaders in Washington are under pressure to resolve their differences after months of deadlock amid signs of a faltering economic recovery.
The country continues to set records for virus infections and deaths, with more jurisdictions tightening lockdowns in a renewed threat to the economy.
In Europe, lawmakers cleared the bloc’s 1.8 trillion-euro ($2.2 trillion) stimulus package on Wednesday. Cyclical shares such as miners and retailers rose on news that the rollout of a Covid vaccine would begin this month. The pound climbed and the euro rose to the highest since April 2018 as officials cautiously predicted a Brexit deal within days. Both held their gains after European Commission President Ursula von der Leyen said “big differences” remain. “Investors know that the environment for businesses and for earnings is going to be good in the medium and long-term,” said Chris Gaffney, president of world markets at TIAA Bank. “The global economy and the U.S. in particular is going to go through a tough patch here in the next few months. However, the central banks and the future looks good.” Emmanuel Macron’s office said he’d tested positive for the coronavirus. The French president, 42, will self-isolate during seven days, while continuing to work, his office said. The number of virus deaths reached another daily record in the U.S., while the first known allergic reaction to the Pfizer Inc. vaccine was reported in Alaska as some snarls began to emerge in the effort to send the shots across the country.
Elsewhere, oil held gains in the wake of a surprise decline in U.S. crude inventories. Stocks across Asia saw modest advances.

Here are some key events coming up:
* Policy decisions from central banks in Japan and Russia are due Friday.

These are some of the main moves in markets:
Stocks
*The S&P 500 Index advanced 0.6% as of 4 p.m. New York time, the highest on record.
*The Dow Jones Industrial Average gained 0.5%.
*The Nasdaq Composite Index climbed 0.8%.

Currencies
*The Bloomberg Dollar Spot Index fell 0.4% to the lowest in almost three years.
*The euro gained 0.6% to $1.2267, the strongest in almost three years.
*The Japanese yen appreciated 0.3% to 103.11 per dollar, the strongest in more than nine months.

Bonds
*The yield on 10-year Treasuries rose one basis point to 0.93%.
*Germany’s 10-year yield declined two basis points to -0.57%.
*Britain’s 10-year yield rose one two basis points to 0.29%.

Commodities
*West Texas Intermediate crude gained 1.1% to $48.36 a barrel, the highest in almost 10 months.
*Gold futures strengthened 1.6% to $1,889 an ounce, the highest in almost six weeks.
–With assistance from Adam Haigh, Cecile Gutscher and Brendan Walsh.

Have a great night.

Be magnificent!
As ever,

Carolann

In the war between falsehood and truth  falsehood wins the first battle and truth the last.
                                                                       -Sheikh Mujibur Rahman, 1920-1975

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

December 16, 2020 Newsletter

Dear Friends,

Tangents: Ludwig Von Beethoven, b. 1770.
Noel Coward, playwright, b.1899
Margaret Mead, anthropologist, b. 1901
1773: Boston Tea Party.
1985: Reputed organized-crime chief Paul Castellano was shot to death outside a New York City restaurant. Go to article »

News from AUSTRALIA: Scientists have found a thriving column of coral taller than the Empire State Building – the first new structure of the Great Barrier Reef system discovered in more than 120 years.  Studies show the Great Barrier Reef has lost more than 50% of its coral in recent decades, but this new blade-like outcropping off the coast of North Queensland appears healthy.  Measuring more than 1,690 feet, the reef is teeming with life, including several species of shark and rare fish.
  Remote reefs such as this one are difficult to study, but the deep-sea robots and sonar beams on Falkor, the Schmidt Ocean Institute’s massive research vessel, allowed scientists to create a 3D map of the seabed.  “This powerful combination of mapping data and underwater imagery will be used to understand this new reef and its role within the incredible Great Barrier Reef World Heritage Area,” said Dr. Jjyotika Virmani, the institute’s executive director.  –The NY Times.

9,000: Age of a female skeleton found buried in the Andes highlands of Peru with what archaeologists describe as a big-game hunting kit.  The discovery challenges widely held beliefs about the role of women in ancient hunter-gatherer societies.-Science Advances.

300 MILLION: Habitable exoplanets thought to exist in our galaxy, based on a new analysis of data from NASA’s Kepler spacecraft. –The NY Times.

PHOTOS OF THE DAY

Elsa the Golden Retriever and Dolly the Cocker Spaniel enjoy a morning walk on the beach at Herne Bay, Kent
CREDIT: LIZ GREGG/TRIANGLE NEWS

‘Fishing’ by Shibasish Saha of nets being cast in Garhbeta, West Bengal received an honorable mention in the Photography 4 Humanity Global Contest 2020
CREDIT: MEDIADRUMIMAGES/ SHIBASISH SAHA

Workers take down the iconic jockey statues from the front of the 90-year-old Midtown restaurant the 21 Club in New York City. The 21 Club was one on New York’s oldest and most storied restaurants, having been patronized by famous artists, actors and business leaders among many others over its nearly 100-year history.

The restaurant, which announced that it is permanently shutting down, has been temporarily closed since the city first banned dine-in services at restaurants and bars in March. Hundreds of New York restaurants, bars and cafes have shuttered due to Covid-19
CREDIT: SPENCER PLATT/GETTY IMAGES
Market Closes for December 16th, 2020 

Market
Index
Close Change
Dow
Jones
30154.54 -44.77
-0.15%
S&P 500 3701.17 +6.55
+1.18%
NASDAQ 12658.188 +63.128

+0.50%

TSX 17567.42 +60.94
+0.35%

 

 

 

 

 

 

 

 

 

 

International Markets

Market
Index
Close Change
NIKKEI 26757.40 +69.56
+0.26%
HANG
SENG
26460.29 +253.00
+0.97%
SENSEX 46666.46 +403.29
+0.87%
FTSE 100* 6570.91 +57.59

+0.88%

Bonds

Bonds % Yield Previous % Yield
CND.
10 Year Bond
0.729 0.727
CND.
30 Year
Bond
1.298 1.293
U.S.   
10 Year Bond
0.9163 0.9080
U.S.
30 Year Bond
1.6555 1.6502

Currencies

BOC Close Today Previous  
Canadian $ 0.78472 0.78753
US
$
1.27433 1.26980
Euro Rate
1 Euro=
Inverse
Canadian $ 1.55429 0.64338
US
$
1.21969 0.81988

Commodities

Gold Close Previous
London Gold
Fix
1850.65 1831.15
Oil
WTI Crude Future 47.82 47.62

Market Commentary:
On this day in 1835, a disastrous fire raged through Manhattan, destroying the New York Stock & Exchange Building—but Wall Street breathed a sigh of relief anyway. A strongbox of documents showing who stood to gain and lose from the manipulation of stock prices was rescued from the flames by a brave (or desperate) broker. His grateful peers promptly gave him a generous cash reward.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities pared their early gains Wednesday, while copper and gold were higher.
The S&P/TSX Composite Index gained about 0.1%, with materials leading the gainers. Energy and health care lagged.
On the deal front, Tilray Inc. and Aphria Inc. agreed to combine their operations, forming a new giant in the fast-growing cannabis industry. Gold extended its advance off the back of a weaker dollar, as investors awaited the outcome of the Federal Reserve’s final meeting of the year, and weighed the potential for a fiscal stimulus deal.
Sales of sustainable and project bonds in Canada are expected to take off next year after companies issued a record amount of corporate debt in 2020 to bolster cash reserves and push out maturities.

Commodities
* Western Canada Select crude oil traded at a $14.25 discount to West Texas Intermediate
* Spot gold rose 0.2% to $1,855.60 an ounce

FX/Bonds
* The Canadian dollar fell 0.4% to C$1.2751 per U.S. dollar
* The 10-year government bond yield rose 2.4 basis points to 0.750%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.3 percent, or 60.94 to 17,567.42 in Toronto.
Shopify Inc. contributed the most to the index gain and had the largest move, increasing 8.3 percent.
Today, 95 of 222 shares rose, while 123 fell; 3 of 11 sectors were higher, led by information technology stocks.

Insights
* This quarter, the index rose 9 percent
* This year, the index rose 3 percent, poised for the best year since 2019
* The index advanced 3 percent in the past 52 weeks. The MSCI AC  Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 2.2 percent below its 52-week high on Feb. 20, 2020 and 57.2 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 4 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.9 on a trailing basis and 23.6 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$2.69t
* 30-day price volatility fell to 10.07 percent compared with
11.14 percent in the previous session and the average of 13.94 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 84.8429| 4.9| 3/7
Materials | 32.7105| 1.4| 41/10
Financials | 4.9417| 0.1| 15/10
Communication Services | -0.0573| 0.0| 2/5
Consumer Discretionary | -0.6277| -0.1| 7/6
Health Care | -1.0778| -0.5| 4/6
Real Estate | -1.3533| -0.2| 12/14
Consumer Staples | -3.2946| -0.5| 2/9
Utilities | -8.0222| -0.9| 4/11
Industrials | -12.8145| -0.6| 3/24
Energy | -34.3037| -1.6| 2/21

US
By Rita Nazareth
(Bloomberg) — Stocks rose on speculation that lawmakers are getting closer to a stimulus deal aimed at reviving the world’s largest economy. Treasuries fell as the Federal Reserve disappointed some traders who expected changes to the composition of bond purchases.
The S&P 500 climbed after Senate Majority Leader Mitch McConnell said Congress leaders are still talking about fresh aid and he thinks “we’re gonna get there.” Retailers, technology and financial shares drove the advance in the benchmark gauge of American equities amid thin trading volume. The Nasdaq 100 outperformed, while the Dow Jones Industrial Average dropped.
Treasuries pared some of its losses, with the yield on 10-year notes remaining below 1%. Bitcoin surpassed $20,000 for the first time. Investors awaited developments on stimulus talks after months of deadlock amid signs the economic recovery is faltering. The deal that lawmakers are attempting to wrap up includes payments to individuals and supplemental unemployment insurance, but excludes liability protections and direct aid for state and local governments, according to two people familiar
with the matter. Four people briefed said the virus aid is expected to be less than $900 billion. Fed Chair Jerome Powell said the case for fiscal stimulus is “very, very strong” as the pandemic continues to rage.
“Investors have clearly applauded recent news that legislation is imminent before Congress recesses for the holiday break knowing the Fed will buy every last Treasury that is issued to fund the relief package,” said Danielle DiMartino Booth, chief executive officer of Quill Intelligence in Dallas.
While enthusiasm for individual U.S. stocks is at an extreme among option traders, the same can’t be said for equity indexes. Option-based indicators compiled by Cboe Global Markets show the contrast. The ratio between stock-specific put and call options closed Monday at its lowest level since April 2000, based on 20-day averages. This shows contracts that rise along with specific stocks are much more in demand than usual. Yet the put-call ratio for index options is near a nine-year high, set Nov. 12. Variant Perception Research highlighted the distinction in a Twitter post Tuesday.

Here are some key events coming up:
* Policy decisions from the Bank of England and central banks in Mexico, Switzerland and Indonesia are due Thursday. Japan and Russia announce decisions Friday.

These are some of the main moves in markets:
Stocks
* The S&P 500 rose 0.2% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index gained 0.8%.
* The MSCI Asia Pacific Index rose 1%.

Currencies
* The Bloomberg Dollar Spot Index fell 0.1%.
* The euro increased 0.4% to $1.2197.
* The Japanese yen appreciated 0.2% to 103.44 per dollar.

Bonds
* The yield on 10-year Treasuries rose one basis point to 0.92%.
* Germany’s 10-year yield gained four basis points to -0.57%.
* Britain’s 10-year yield climbed one basis point to 0.272%.

Commodities
* The Bloomberg Commodity Index rose 0.4%.
* West Texas Intermediate crude climbed 0.5% to $47.85 a barrel.
* Gold rose 0.5% to $1,863.26 an ounce.

–With assistance from Joanna Ossinger, Albertina Torsoli, Adam Haigh, David Wilson and Lu Wang.
Have a great night.

Be magnificent!
As ever,

Carolann

Truth is confirmed by inspection and delay; falsehood by haste and uncertainty.
                                                                           -Tacitus, 56 AD-120 AD

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