Month: January 2021

Dear Friends,
Tangents: Happy Friday.

Full moon should be visible again tonight.  The first full moon in January is called the wolf moon and it rose last night.
There’s nothing canine about it—the wolf moon just is the name for January’s full moon. According to The Old Farmer’s Almanac, it most likely has early Native American origins, since wolves were more often heard howling in the dead of winter. But it’s also sometimes referred to as the “Cold Moon” or “Frost Exploding Moon” by the Cree, the “Spirit Moon” by the Ojibwe and the “Center Moon” by the Assiniboine people (with the idea that it roughly marks the middle of winter), per Space.com. And NASA has a lengthy list of even more names for this moon.
Other than being the first full moon of the calendar year, January’s wolf moon will also be at its highest point in the sky for northern hemisphere viewers. That’s because the sun and full moon are opposite each other, and when the sun is low (i.e., in winter), the moon is high. That means anyone in North America will get a front-row seat to see the wolf moon.

An afternoon nap could improve your cognitive abilities, study says.  Say no more. 

Mysterious kick just after Big Bang may have created dark matter. 

After 130 years, a snowy owl has made an appearance in Central Park. Stream these 10 classical concerts in February. We’re all stuck at home at the moment, so here are the 50 best movies on Netflix right now. The Late Night Hosts weigh in: “She is the lady who, among other things, she called for Nancy Pelosi’s execution, she called for Joe Biden’s impeachment on his first day in office, and she believes our former governor here in California, Jerry Brown, used space lasers to set the wildfires here. She saw the ‘Austin Powers’ movie and thought it was a documentary, I guess.” — JIMMY KIMMEL “But claims like these require proof, right? Well, here’s Margie’s evidence: ‘Oddly, there are all these people who have said they saw what looked like lasers or blue beams of light causing the fires.’ That’s an embarrassing way to admit you’ve never heard of lightning.” — STEPHEN COLBERT “So where do these fictional space lasers come from? Well, according to Congresswoman Marjorie Taylor Greene, it could have been a beam from ‘space solar generators.’ A ‘space solar generator.’ So, the sun?” — STEPHEN COLBERT

’And then the socialist lizard men shot jagged laser things out of the cloud. And that angered the sky so much it went ‘Roar!’ and the sky wept, and then, thanks to QAnon, the sky stopped crying and a rainbow appeared. And we shot it with our guns because rainbows are gay. The defense rests.’” — STEPHEN COLBERT

PHOTOS OF THE DAY
The full moon rises above the horizon in Tirana, Albania
CREDIT: FLORION GOGA/REUTERS
An Arctic fox in Svalbard
CREDIT: VLADIMIR ALEKSEEV.WWW.TPOTY.COM
A plane flies towards cumulonimbus clouds above Lyon, central France
CREDIT: LAURENT CIPRIANI/AP

Market Closes for January 29^th, 2021 

Market Index	Close	Change
Dow Jones	29982.62	-620.74
		-2.03%
S&P 500	3714.24	-73.14
		-1.93%
NASDAQ	13070.694	-266.464 -2.00%
TSX	17337.03	-320.17
		-1.81%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27663.39	-534.03
		-1.89%
HANG SENG	28283.71	-267.06
		-0.94 %
SENSEX	46285.77	-588.59
		-1.26%
FTSE 100*	6407.46	-118.69 -1.82%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.889	.815
CND. 30 Year Bond	1.474	1.476
U.S.    10 Year Bond	1.0655	1.0449
U.S. 30 Year Bond	1.8291	1.8046

Currencies

BOC Close	Today	Previous
Canadian $	.78281	.77997
US $	1.27746	1.28210
Euro Rate 1 Euro=		Inverse
Canadian $	.64515	1.55002
US $	.82415	1.21337

Commodities

Gold	Close	Previous
London Gold Fix	1853.70	1846
Oil
WTI Crude Future	52.20	52.34

Market Commentary:
     On this day in 1997, the U.S. Treasury auctioned off its first issue of inflation-indexed securities.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell for a third week, and fourth in five, as traders studied the latest corporate earnings and the implications of day traders pouring into stocks. The S&P/TSX Composite Index dropped 1.8% Friday, with all eleven sectors lower. Information technology was the weakest group, falling 2.8%. Wealthsimple Inc., a commission-free Canadian online brokerage with more than 350,000 clients, is warning traders about the risks of investing in some highly speculative stocks, but isn’t planning to halt trading in those shares.
Canadian Prime Minister Justin Trudeau introduced sweeping new restrictions on international travel in a bid to stem the spread of new variants of Covid-19. Meanwhile, Trudeau said Friday the delay in receiving Moderna Inc.’s Covid-19 vaccine was temporary.
Commodities
* Western Canadian Select crude oil traded at a $13.25 discount to West Texas Intermediate
* Spot gold rose 0.2% to $1,846.40 an ounce
FX/Bonds
* The Canadian dollar fell 0.4% to C$1.2781 per U.S. dollar
* The 10-year Canada government bond yield rose 7.6 basis points to 0.891%
By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 1.8 percent at 17,337.02 in Toronto. The index dropped to the lowest closing level since Dec. 1 after the previous session’s increase of 1.3 percent. Today, financials stocks led the market lower, as all sectors lost; 192 of 221 shares fell, while 28 rose. Shopify Inc. contributed the most to the index decline, decreasing 2.8 percent. Westshore Terminals Investment Corp. had the largest drop, falling 6.3 percent.
Insights
* This month, the index fell 0.6 percent
* So far this week, the index fell 2.9 percent, heading for the
biggest decline since the week ended Oct. 30
* The index declined 1 percent in the past 52 weeks. The MSCI AC
Americas Index gained 15 percent in the same period
* The S&P/TSX Composite is 4 percent below its 52-week high on
Jan. 8, 2021 and 55.2 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of
25.5 on a trailing basis and 16.6 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$2.73t
* 30-day price volatility rose to 11.98 percent compared with
10.67 percent in the previous session and the average of 8.75 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -99.5335| -1.9| 0/26
Information Technology | -51.6618| -2.8| 0/10
Industrials | -49.1089| -2.3| 3/26
Energy | -36.4350| -1.8| 1/21
Materials | -25.9796| -1.1| 15/37
Consumer Discretionary | -16.2073| -2.4| 0/13
Communication Services | -16.1488| -1.8| 1/6
Consumer Staples | -7.9630| -1.2| 1/10
Real Estate | -6.8180| -1.2| 0/25
Utilities | -5.1958| -0.6| 6/10
Health Care | -5.1240| -1.9| 1/8
US
By Kamaron Leach and Robert Brand
     (Bloomberg) — Global equities slumped in a broad retreat that extended across industries amid lingering concerns that retail trading was creating havoc and as traders mulled an uncertain outlook for deploying coronavirus vaccines. Treasury yields rose. The S&P 500 Index fell almost 2%, turning negative for the year and posting its biggest weekly decline in three months as day traders’ bids for heavily-shorted stocks fueled speculation hedge funds would need to reduce their market exposure. GameStop Corp. and AMC Entertainment Holdings Inc. soared in a return of volatility for stocks popular in internet chat rooms as brokerages said they would start to ease trading restrictions imposed after wild swings this week. Global stocks also fell the most since late October, partly on the turmoil caused by hordes of day traders hatching stock bets that roiled hedge funds and strained trading platforms.
Meanwhile, investors were left to ponder the outlook for the pandemic as Johnson & Johnson said its one-shot vaccine generated strong protection against Covid-19, though it was less effective against the South Africa variant. The European Union escalated the fight over vaccine supplies with an emergency plan to restrict exports. “Extended and stricter lockdowns do not bode well for the economy,” said Carsten Brzeski, global head of macro at ING Groep. “Demand from China could also weaken on the back of lockdowns.” The Stoxx Europe 600 dropped almost 2% in a broad decline. Swedish retailer Hennes & Mauritz AB fell after warning it’s still in “crisis mode,” with 40% of stores shut. Bootmaker Dr. Martens Plc jumped 22% as it ended its first day of trading in London.
     Elsewhere, a glut of liquidity sent short-term U.S. dollar borrowing costs to a record low. But in China, a money-market rate surged to the highest in almost six years, reflecting tighter financial conditions even after the central bank extended credit for the first time this week.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 1.9% at 4 p.m. in New York.
* The Stoxx Europe 600 index dropped 1.9%.
* The MSCI Asia Pacific index fell 1.6%.
* The MSCI Emerging Markets index dropped 1.6%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.3%.
* The euro strengthened 0.1% to $1.2135.
* The British pound slipped 0.2% to $1.3698.
* The yen dropped 0.5% to 104.73 per dollar.
Bonds
* The yield on 10-year Treasuries rose four basis points to 1.09%.
* Germany’s 10-year yield climbed two basis points to -0.52%.
* The U.K.’s 10-year yield rose four basis points to 0.325%
Commodities
* West Texas Intermediate crude fell 0.2% to $52.22 a barrel.
* Gold rose 0.1% to $1,844.93 an ounce.
–With assistance from Lu Wang, Adam Haigh, Cecile Gutscher and Cormac Mullen.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

Often man is preoccupied with human rules and forgets the inner law.
                               -Louis-Joseph Antoine, the Healer, 1846-1912

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

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

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

Dear Friends,

Tangents:
On Jan. 28, 1986, space shuttle Challenger exploded 73 seconds after liftoff from Cape Canaveral, killing all seven crew members. Go to article »

NASA’s Perseverance rover will begin ‘epic journey’ on Mars next month.  It will collect samples of rocks and dirt from the red planet, and we will cheer it on every step of the way. 

Youth poet laureate Amanda Gorman to recite poem before Super Bowl.  Poetry and football: the collaboration we didn’t know we needed.

$1.8 million:  That’s how much Vermont Sen. Bernie Sanders has raised for charity through the sale of inauguration meme-inspired merchandise.

WHAT TO WATCH: The documentary series “Pretend It’s a City” chronicles the acerbic Fran Lebowitz through the lens of her longtime friend Martin Scorsese. Their pre-pandemic strolls through New York City give the episodes a wistful, bittersweet quality.
PHOTOS OF THE DAY
Stunt biker Danny MacAskill films his new cycling adventure video,’Danny MacAskill – The Slabs’, on the Isle of Skye, using lockdown to focus on even more extreme mountain biking
CREDIT: DAVE MACKISON/PA
A man walks along Rajpath, a ceremonial boulevard, during smoggy conditions in New Delhi, India
CREDIT: Jewel SAMAD/AFP VIA GETTY IMAGES
This photograph of a fox in Westcliff-on-Sea, Essex, is the Overall winner and Gardeners World category winner in the Essex Wildlife Trust Photograph Competition 2020
CREDIT: JULIE LEVERE / SWNS.COM
Market Closes for January 28^th, 2021 

Market Index	Close	Change
Dow Jones	30603.36	+300.19
		+0.99%
S&P 500	3787.38	+36.61
		+0.98%
NASDAQ	13337.158	+66.560 +0.50%
TSX	17657.20	+232.77
		+1.34%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28197.42	-427.79
		-1.53%
HANG SENG	28550.77	-746.76
		-2.55 %
SENSEX	46874.36	-535.57
		-1.13%
FTSE 100*	6526.15	-41.22 -0.63%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.815	.794
CND. 30 Year Bond	1.476	1.442
U.S.    10 Year Bond	1.0449	1.0161
U.S. 30 Year Bond	1.8046	1.7740

Currencies

BOC Close	Today	Previous
Canadian $	.77997	.78106
US $	1.28210	1.28031
Euro Rate 1 Euro=		Inverse
Canadian $	.64331	1.55446
US $	.82478	1.21244

Commodities

Gold	Close	Previous
London Gold Fix	1846	1856.60
Oil
WTI Crude Future	52.34	52.85

Market Commentary:
     On this day in 1965, less than a year after breaking the 800 mark, the Dow Jones Industrial Average closed above 900 for the first time, finishing the day at 900.95.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities rebounded Thursday after sliding the previous two days. The S&P/TSX Composite Index gained 1.3%, the most since Nov. 5, with nine of 11 sectors gaining. Utilities and communication services fell. BlackBerry Ltd. dropped 32%, the most since April 2000, after Robinhood and Interactive Brokers Group curbed trading in the stock after a Reddit-driven surge. Oil declined the most in nearly a week with the spread of new Covid-19 variants and tighter lockdown measures weighing on nascent hopes of a demand recovery.
Commodities
* Western Canada Select crude oil traded at a $12.80 discount to West Texas Intermediate
* Spot gold fell 0.1% to $1,842 an ounce
FX/Bonds
* The Canadian dollar fell 0.2% to C$1.2823 per U.S. dollar
* The 10-year government bond yield rose 2.2 basis points to 0.815%
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose 1.3 percent at 17,657.20 in Toronto. The move was the biggest since rising 1.9 percent on Nov. 5 and follows the previous session’s decrease of 2 percent. Today, materials stocks led the market higher, as 9 of 11 sectors gained; 175 of 221 shares rose, while 45 fell. Shopify Inc. contributed the most to the index gain, increasing 2.6 percent. First Majestic Silver Corp. had the largest increase, rising 21.6 percent.
Insights
* This month, the index rose 1.3 percent
* So far this week, the index fell 1.1 percent
* The index advanced 0.9 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
Jan. 8, 2021 and 58 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1.4 percent in the past 5 days and was little changed in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
25.8 on a trailing basis and 16.9 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$2.69t
* 30-day price volatility rose to 10.67 percent compared with
10.10 percent in the previous session and the average of 8.60 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 76.9427| 3.4| 50/2
Financials | 61.5960| 1.2| 18/8
Industrials | 49.0068| 2.3| 20/8
Energy | 19.5899| 1.0| 15/7
Consumer Discretionary | 12.6973| 1.9| 11/2
Health Care | 10.2944| 3.9| 8/1
Consumer Staples | 3.4554| 0.5| 8/3
Real Estate | 3.3256| 0.6| 21/5
Information Technology | 0.1607| 0.0| 8/2Communication Services | -2.0893| -0.2| 6/1
Utilities | -2.2256| -0.2| 10/6
US
By Vildana Hajric and Lu Wang
(Bloomberg) — U.S. equities mounted a comeback from their worst loss since October as moves to limit retail traders’ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching. The S&P 500 Index rose 1% after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk. That dynamic reversed Thursday, and a Goldman Sachs basket of stocks favored by hedge funds jumped the most since early November, halting a five-day slide. An index of the most-shorted shares tumbled more than 7%, the most since June. GameStop whipsawed, rising as much as 39% in early trading before plunging as much as 68%. It closed down 44%. AMC sank 57%, American was up 9.3% and Tootsie Roll Industries lost 9.5%.   
     The trading restrictions sparked outrage on the WallStreetBets forum where day traders have convened to drive the manic rallies that burned hedge funds across Wall Street. Washington took notice of what some have called inequitable rules, with Democratic and Republican lawmakers criticizing restrictions imposed on retail investors. All 11 industry groups in the S&P 500 traded higher, with sentiment also boosted by solid corporate earnings from the likes of Mastercard Inc. and Comcast Corp. and a surprise drop in jobless claims. Stocks have seen volatile trading after a prolonged rally that spurred talk of possible asset bubbles and predictions of a
pullback given a raging pandemic and patchy rollout of vaccines. The turmoil created by internet chat rooms has stoked fears of broader consequences for Wall Street, particularly hedge funds, but that fear seemed to fade on Thursday. “Earnings are great and guidance is better and we’re picking up the pace of getting vaccines out and eventually we’ll have fiscal stimulus coming out of Washington,” said Arthur Hogan, chief market strategist at National Securities Corp. “The market is trying to digest a lot of things at the same time.”
The Stoxx Europe 600 Index edged higher. Earnings beatsfrom STMicroelectronics NV and Diageo Plc were accompanied by a miss from Swatch Group AG and a revenue drop at EasyJet Plc. The benchmark 10-year Treasury yield rose after touching the lowest level since Jan. 5. Bitcoin climbed past $32,000. Stocks in Hong Kong and Australia saw the bulk of Asian losses. These are some key events coming up in the week ahead:
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index jumped 1% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index rose 0.1%.
* The MSCI Asia Pacific Index fell 1.8%.
* The MSCI Emerging Market Index fell 1.4%.
Currencies
* The Bloomberg Dollar Spot Index slipped 0.2%.
* The euro rose 0.2% to $1.2129.
* The British pound rose 0.4% to $1.3736.
* The Japanese yen weakened 0.1% to 104.23 per dollar.
Bonds
* The yield on 10-year Treasuries rose four basis points to 1.05%.
* Germany’s 10-year yield rose one basis point to -0.54%.
* Britain’s 10-year yield rose two basis points to 0.285%.
Commodities
* West Texas Intermediate crude fell 1% to $52.31 a barrel.
* Gold fell 0.1% to $1,842.54 an ounce.

–With assistance from Cormac Mullen, Gregor Stuart Hunter, Michael Msika, Adam Haigh, Cecile Gutscher and Yakob Peterseil.
Have a great night.

Be magnificent!

As ever,

Carolann

Adversity is a mirror that reveals one’s true self.
                                          -Chinese 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

Dear Friends,

Tangents: HOLOCAUST MEMORIAL DAY, UK.
January 27, 1945: soviet troops liberate Auschwitz and Birkenau Concentration Camps in Poland.

After more than seven decades after one of the darkest periods in human history, some 400 people aged 85 and older, many of them Holocaust survivors, were vaccinated in Vienna on International Holocaust Remembrance Day.

On Jan. 27, 1967, Astronauts Virgil I. ”Gus” Grissom, Edward H. White and Roger B. Chaffee died in a flash fire during a test aboard their Apollo I spacecraft at Cape Kennedy, Fla. Go to article »

1972: Vietnam Peace Agreement signed.

Wolfgang Amadeus Mozart, Composer, b. 1756.
Lewis Carroll, writer, b. 1832.
Mikhail Baryshnikov, dancer, b. 1948.

From the Late Night Host:

“Earlier today, all 100 senators were sworn in as jurors for Donald Trump’s upcoming impeachment trial, which starts on Feb. 8. The trial is to determine if the attack on the Capitol by thousands of people wearing flags that said ‘Trump’ and hats that said ‘Trump’ is the fault of — get this — Trump.” — JAMES CORDEN

“Now, to get a conviction, the House is going to have to convince 17 Republican senators that the former president incited the riot. Even though they were all hustled out through secret tunnels to keep them from being murdered by the president’s own bloodthirsty, fascist squad of goons, they’re on the fence.” — STEPHEN COLBERT

“Apparently, playing 36 holes of golf every day isn’t as exciting when you’re not ignoring a global pandemic.” — JIMMY FALLON

“But today Trump’s aides were trying to cheer him up. They were like, ‘Good news, sir, your trial starts in two weeks.’” — JIMMY FALLON
PHOTOS OF THE DAY
The Duchess of Cambridge chats to holocaust survivors Manfred Goldberg and Zigi Shipper, whom she met at former concentration camp Stutthof in 2017.
CREDIT: KENSINGTON PALACE
A lunar corona shines in the night sky above the northern Italian city of Parma
CREDIT: ALBERTO GHIZZI PANIZZA/SWNS.COM
George visits his wife Phyllis on her birthday at a care home in Sheffield
CREDIT:@CAREQUALITYCOMM
Two skiers pass by traffic signs drowned in the snow by the Dappes Car Park near La Dole
CREDIT: FABRICE COFFRINI/AFP VIA GETTY IMAGES
Market Closes for January 27^th, 2021 

Market Index	Close	Change
Dow Jones	30303.17	-633.87
		-2.05%
S&P 500	3750.77	-98.85
		-2.57%
NASDAQ	13270.598	-355.466 -2.61%
TSX	17424.43	-354.98
		-2.00%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28635.21	+89.03
		+0.31%
HANG SENG	29297.53	-93.73
		-0.32%
SENSEX	47409.93	-937.66
		-1.94%
FTSE 100*	6567.37	-86.64 -1.30%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.794	.818
CND. 30 Year Bond	1.442	1.454
U.S.    10 Year Bond	1.0161	1.0345
U.S. 30 Year Bond	1.7740	1.7906

Currencies

BOC Close	Today	Previous
Canadian $	.78106	0.78772
US $	1.28031	1.26949
Euro Rate 1 Euro=		Inverse
Canadian $	1.55064	.64489
US $	1.21115	.82566

Commodities

Gold	Close	Previous
London Gold Fix	1856.60	1856.85
Oil
WTI Crude Future	52.85	52.61

Market Commentary:
     On this day in 1938, the New York Stock Exchange finally recommended installation of a board of governors, a salaried independent president and a specialized administrative staff. Previously, the exchange had functioned like a private gentleman’s club, with conduct enforced mainly by unspoken codes of honor and a pro-bono president
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell the most since late October on Wednesday as part of a broad-based decline that pushed the benchmark index to its lowest since mid-December and erased the New Year’s advance. The S&P/TSX Composite Index retreated 2%, with ten of eleven sectors falling. Materials and industrials led the decline. Amid increased signs of market euphoria, there’s plenty of investor nerves out there — but also a reluctance to forgo gains. That favors complex options trades that protect against crashes but keep investors in the market, according to RBC strategists. Gold traded little changed, paring the day’s steepest losses, as a retreat in equities and lower U.S. Treasury yields diminished the allure of a stronger dollar.
Commodities
* Western Canada Select crude oil traded at a $12.80 discount to West Texas Intermediate
* Spot gold fell 0.5% to $1,842 an ounce
FX/Bonds
* The Canadian dollar fell 0.9% to C$1.2810 per U.S. dollar
* The 10-year government bond yield fell 2.0 basis points to 0.798%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 2 percent, or 354.98 to 17,424.43 in Toronto. The move was the biggest since falling 2.7 percent on Oct. 28. Today, materials stocks led the market lower, as 10 of 11 sectors lost; 195 of 221 shares fell, while 25 rose. Shopify Inc. contributed the most to the index decline, decreasing 5.1 percent. Aurinia Pharmaceuticals Inc. had the largest drop, falling 8.1 percent.
Insights
* In the past year, the index had a similar or greater loss 19 times. The next day, it advanced 13 times for an average 3.3 percent and declined six times for an average 5 percent
* This month, the index was little changed
* The index was little changed in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 3.5 percent below its 52-week high on Jan. 8, 2021 and 56 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 3.3 percent in the past 5 days and fell 1.1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 25.5 on a trailing basis and 16.7 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$2.75t
* 30-day price volatility rose to 10.10 percent compared with 8.46 percent in the previous session and the average of 8.51 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -82.5842| -3.5| 2/50
Financials | -78.1901| -1.5| 2/24
Industrials | -69.0967| -3.2| 4/25
Information Technology | -38.5964| -2.1| 3/7
Energy | -32.3889| -1.6| 6/15
Consumer Discretionary | -19.5372| -2.8| 1/12
Utilities | -13.6378| -1.5| 1/15
Communication Services | -7.9720| -0.9| 1/6
Real Estate | -7.4187| -1.3| 1/25
Consumer Staples | -5.7934| -0.9| 0/11
Health Care | 0.2465| 0.1| 4/5
US
By Claire Ballentine and Sophie Caronello
(Bloomberg) — U.S. equities tumbled as a risk-off mood descended on markets amid growing concern that stocks have become overvalued. The dollar jumped the most since September and Treasury yields slipped. The S&P 500 Index recorded its worst rout since October, with the gauge down 2.6% after Federal Reserve officials left their main interest rate unchanged without promising any more aid for the economy. The selloff was widespread, sinking all 11 groups in the benchmark stock gauge. Turmoil continued in pockets of the market where retail traders are becoming a dominant force, with shares of GameStop Corp. and AMC Entertainment Holdings Inc. soaring as investment pros questioned whether there’s any rationale behind the moves.
The Stoxx Europe 600 Index declined the most in five weeks as the European Union and AstraZeneca Plc squabbled over vaccine delivery delays. The euro fell after a European Central Bank official said the markets are underestimating the odds of a rate cut. Officials in the U.K. announced new rules to try to curb the spread of Covid-19 and Germany cut its 2021 economic growth forecast to 3% from 4.4%. An extended run higher for stocks has reversed this week as investors look to a spate of earnings releases for clues about the health of the corporate world. Federal Reserve Chairman Jerome Powell said at a press conference that the U.S. economy was a long way from full recovery and still short of policy makers’ inflation and job goals. “It was always doubtful the Fed would announce any new actions this month,” said Seema Shah, chief strategist at Principal Global Investors. “After a few weeks of Fed speakers pushing back on the monetary tightening narrative, it wasn’t surprising to hear Powell reassert the message that tapering is not on the agenda for 2021.”
The stock selloff is also being driven partly by speculation that hedge funds will be forced to reduce their equity holdings as retail investors make a concerted effort to boost shares the professional investors have bet against, according to Matt Maley, chief market strategist at Miller Tabak + Co. “A lot of them are getting burned by their shorts, and I think the market is worried that they’ll have to sell some stocks to meet their margin calls,” he said. Elsewhere, Bitcoin fell below $30,000 before paring the decline and precious metals slumped. Asian stocks fell for a second day as investors took a breather following the regional benchmark’s ascent to a record high Monday. In the region, benchmarks in India, Vietnam and the Philippines were among the biggest losers. These are some key events coming up in the week ahead:
* Apple Inc., Tesla Inc., Facebook Inc. and Samsung Electronics Co. are among companies reporting results.
* Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 2.6% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index declined 1.2%.
* The MSCI Asia Pacific Index fell 0.8%.
* The MSCI Emerging Market Index dipped 1.3%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.7%.
* The euro fell 0.5% to $1.2104.
* The British pound weakened 0.4% to $1.3683.
* The Japanese yen fell 0.5% to 104.18 per dollar.
Bonds
* The yield on 10-year Treasuries fell one basis point to 1.02%.
* Germany’s 10-year yield fell one basis point to -0.55%.
* Britain’s 10-year yield was little changed at 0.27%.
Commodities
* West Texas Intermediate crude rose 0.1% to $52.67 per barrel.
* Gold fell 0.5% to $1,842.36 an ounce.

–With assistance from David Wilson, Yakob Peterseil and Andreea Papuc.
Have a great night.

Be magnificent!
As ever,

Carolann

You may not have started out life in the best of circumstances.  But if you can find a mission in life
worth working for and believe in yourself, nothing can stop you from achieving success.
                                                                -Kemmons Wilson, 1913-2003 (holiday Inn founder).

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

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

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

Dear Friends,

Tangents:
Australia Day, 1^st British settlement, 1788
On Jan. 26, 1950, India proclaimed itself a republic. Go to article »

A ginormous earthquake hit the Pacific Northwest coast on this day in 1700. Read about the really, really “Big One,” which caused the entire coastline to suddenly drop 3 to 6 feet as it sent a 33-foot high tsunami across the ocean to Japan. Might not be a bad reminder to refresh the ol’ disaster kit and get ready to rumble with our guide to earthquake preparedness.-The Seattle Times.

The Late Night Hosts weigh in on the impeachment:
“Man, they’re throwing everything at the wall: Impeachment will stir up the country, the election was stolen, we all bear some responsibility. It’s like getting pulled over with a giant plume of marijuana smoke in the car and telling the cop, ‘I think it’s the exhaust pipe, and it is legal in several states, and I only started smoking when you pulled me over because that gave me severe anxiety.’” — SETH MEYERS

“So you just want to let him off scot-free for insurrection because he’s no longer in power? That’s like acquitting Jeffrey Dahmer because he’s full.” — STEPHEN COLBERT

“Violent seditionists and white supremacists and militia members stormed the Capitol building and tried to overthrow democracy. We have to do something about that so it doesn’t happen again. Instead, Republican leaders are talking about Trump’s base the way park rangers talk about bears on a campground: ‘Don’t make eye contact, move away slowly, and if worst comes to worst, let ‘em eat your hot dogs — they’re just hot dogs.’” — SETH MEYERS
PHOTOS OF THE DAY
Dawn breaks over Tynemouth Longsands beach.
CREDIT: OWEN HUMPHREYS/PA
Skier makes their way down a freshly snow-covered Mammoth Mountain Ski Area, in Mammoth Lakes, California
CREDIT: PETER MORNING/ MAMMOTH MOUNTAIN SKY AREA VIA AP
Amazing Photo Appears To Show Lion With Cheetah’s Head In Its Mouth. This jaw-dropping shot appears to show a very hungry lion with a cheetah’s head in its mouth. It is actually a clever optical illusion with the lion in the foreground lined up perfectly with the other big cat. Wildlife photographer Saeed Aljafar captured the amazing scene in Kenya’s Masai Mara. 
CREDIT: SAEED ALJAFAR/COVER-IMAGES.COM
Market Closes for January 26^th, 2021 

Market Index	Close	Change
Dow Jones	30937.04	-22.96
		-0.07%
S&P 500	3849.62	-5.74
		-0.15%
NASDAQ	13626.066	-9.926 -0.07%
TSX	17779.41	-126.61
		-0.71%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28546.18	-276.11
		-0.96%
HANG SENG	29391.26	-767.75
		-2.55%
SENSEX	48347.59	-530.95
		-1.09%
FTSE 100*	6654.01	+15.16 +0.23%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.818	.812
CND. 30 Year Bond	1.454	1.445
U.S.    10 Year Bond	1.0345	1.0295
U.S. 30 Year Bond	1.7906	1.7920

Currencies

BOC Close	Today	Previous
Canadian $	0.78772	.78468
US $	1.26949	1.27440
Euro Rate 1 Euro=		Inverse
Canadian $	.64771	1.54391
US $	0.82225	1.21617

Commodities

Gold	Close	Previous
London Gold Fix	1856.85	1852.70
Oil
WTI Crude Future	52.61	52.75

Market Commentary:
On this day in 1921, Akio Morita, the future co-founder of Sony, was born in Nagoya, Japan.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell Tuesday amid weakness across multiple sectors. The S&P/TSX Composite Index lost 0.7%, the most since Dec. 14, with seven of 11 sectors lower. Marijuana stocks rallied with Canopy Growth Corp. and Aphria Inc. each gaining at least 7.5%. Prime Minister Justin Trudeau said his government is preparing to unveil new travel measures soon to help protect Canadians from new Covid-19 variants.
Commodities
* Western Canadian Select crude oil traded at a $13.30 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,851.47
FX/Bonds
* The Canadian dollar rose 0.4% to C$1.2693 per U.S. dollar
* The 10-year Canada government bond yield edged higher to 0.819%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell 0.7 percent at 17,779.41 in Toronto. The move was the biggest since falling 0.9 percent on Dec. 14 and follows the previous session’s increase of 0.3 percent. Shopify Inc. contributed the most to the index decline, decreasing 4.2 percent. Vermilion Energy Inc. had the largest drop, falling 8.8 percent. Today, 127 of 221 shares fell, while 89 rose; 7 of 11 sectors were lower, led by information technology stocks.
Insights
* This month, the index rose 2 percent
* The index advanced 1.2 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 1.5 percent below its 52-week high on
Jan. 8, 2021 and 59.1 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1 percent in the past 5 days and rose 0.9 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 17 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$2.77t
* 30-day price volatility rose to 8.46 percent compared with
8.19 percent in the previous session and the average of 8.43 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | -55.6062| -2.9| 3/7
Energy | -31.7539| -1.5| 2/20
Materials | -23.8494| -1.0| 23/28
Industrials | -14.2119| -0.6| 12/17
Consumer Discretionary | -7.6752| -1.1| 4/9
Utilities | -4.6364| -0.5| 5/11
Consumer Staples | -0.7503| -0.1| 7/4
Real Estate | 1.6741| 0.3| 16/8
Financials | 1.7454| 0.0| 8/17
Communication Services | 3.0358| 0.3| 5/1
Health Care | 5.4167| 2.1| 4/5
US
By Lu Wang and Claire Ballentine
(Bloomberg) — U.S. stocks slid ahead of earnings reports from the biggest tech companies. The dollar weakened. The S&P 500 Index edged lower after struggling to gain traction throughout the day, weighed down by worries over new coronavirus variants and hurdles to a fresh aid package. Small- caps were among the worst performers as traders turned away from bets on an end to Covid lockdowns. GameStop Corp. extended its astronomical surge as day traders continued to pile into the heavily shorted retailer. European stock markets closed in the green. Naturgy Energy Group SA soared 15% as asset manager IFM Global Infrastructure offered to buy a stake in the Spanish utility. Sweden’s EQT AB, one of Europe’s biggest private equity firms, jumped 15% after agreeing to take over Exeter Property Group in a $1.9 billion deal.
Global stocks are mostly treading water near record highs as U.S. corporate earnings season gears up this week, with traders also keeping an eye on developments related to the pandemic and its spread. Vaccine coverage won’t reach a point that would stop transmission of the virus in the foreseeable future, the World Health Organization said. “There’s little bit of bumpiness to start the week,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management. “Part of the cross current we’re seeing is concern about the new variants of the virus that seem to be spreading quite a bit. It just raises a question of uncertainty and when we’re going to get out from under the cloud of Covid.” Elsewhere, Treasury yields held steady. Bitcoin retreated to trade near $32,000. In Asia, stock markets took a dive after China’s central bank withdrew cash from the banking system and an official cautioned about asset bubbles. The MSCI Asia Pacific Index sank the most in two months and internet giant Tencent Holdings Ltd. lost 6.3%.

These are some key events coming up in the week ahead:
* Microsoft Corp., Apple Inc., Tesla Inc., Facebook Inc. and
Samsung Electronics Co. are among companies reporting results.
* The Federal Open Market Committee monetary policy decision and
briefing by Chair Jerome Powell are scheduled for Wednesday.
* Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
* U.S. personal income, spending and pending home sales come Friday.

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 0.6%.
* The MSCI Asia Pacific Index fell 1.2%.
* The MSCI Emerging Market Index dipped 1.5%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.3%.
* The euro rose 0.2% to $1.2166.
* The British pound climbed 0.4% to $1.3737.
* The Japanese yen rose 0.1% to 103.62 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 1.04%.
* Germany’s 10-year yield added two basis points to -0.54%.
* Britain’s 10-year yield was little changed at 0.26%.
Commodities
* West Texas Intermediate crude fell 0.5% to $52.55 per barrel.
* Gold fell 0.2% to $1,852.18 an ounce.
–With assistance from Cormac Mullen and Anchalee Worrachate.
Have a great night.

Be magnificent!
As ever,

Carolann

Chance favors the informed mind. –Louis Pasteur, 1822-1895.

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

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

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

Dear Friends,

Tangents:
Robert Burns, poet, b. 1759.
O my Luve’s like a red, red rose,
That’s newly sprung in June:
O my Luve’s like the melodie,
That’s sweetly played in tune….
                     -Robert Burns
Virginia Woolf, writer, b. 1882.
As an experience, madness is terrific….and in its lava I still find most of the things I write about.
A woman must have money and a room of her own if she is to write fiction. -Virginia Woolf

W. Somerset Maugham, b. 1874
It’s a funny thing about life; if you refuse to accept anything but the best, you very often get it.
To acquire the habit of reading is to construct for yourself a refuge from almost all the miseries of life. –Somerset Maugham

On Jan. 25, 1915, the inventor of the telephone, Alexander Graham Bell, inaugurated U.S. transcontinental telephone service. Go to article »
1984- Macintosh computer debuts.

Bernie Sanders turns inauguration meme into sweatshirt for charity
He’s embraced his new role as a cozy fashion inspiration
A woman who won a $60 million lottery said she got the winning numbers from her husband’s dream
Some husbands dream about accidentally showing up to work in their underwear, and others dream of $60 million premonitions.  
The secret ingredient that powers Supernovas

PHOTOS OF THE DAY
Robot Franziska cries because someone stands in its way while cleaning the floor
CREDIT: ANDREAS GEBERT/REUTERS
Horses are dwarfed by their shadows in their meadow in Saint-Gondran, western France
CREDIT: DAMIEN MEYER/AFP VIA GETTY IMAGES
A field of rapeseed sits in the foreground, with Mount Fuji in the background at Azumayama Park in Ninomiya, Japan
CREDIT: JIJI PRESS/AFP VIA GETTY IMAGES
Market Closes for January 25th, 2021 

Market Index	Close	Change
Dow Jones	30960.00	-36.98
		-0.12%
S&P 500	3855.36	+13.89
		+0.36%
NASDAQ	13635.992	+92.930 +.69%
TSX	17906.02	+60.11
		+.32%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28822.29	+190.84
		+0.67%
HANG SENG	30159.01	+711.16
		+2.41%
SENSEX	48347.59	-530.95
		-1.09%
FTSE 100*	6638.85	-56.22 -0.84%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.812	.846
CND. 30 Year Bond	1.445	1.473
U.S.    10 Year Bond	1.0295	1.0855
U.S. 30 Year Bond	1.7920	1.8466

Currencies

BOC Close	Today	Previous
Canadian $	.78468	0.78494
US $	1.27440	1.27399
Euro Rate 1 Euro=		Inverse
Canadian $	.64619	1.54753
US $	.82350	1.21432

Commodities

Gold	Close	Previous
London Gold Fix	1852.70	1862.10
Oil
WTI Crude Future	52.75	52.25

Market Commentary:
On this day in 1853, basic financial disclosure became mandatory for all companies seeking to list their stock for trading on the New York Stock & Exchange Board.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities rose Monday with tech stocks in the limelight ahead of corporate earnings. The S&P/TSX Composite Index gained 0.3% as BlackBerry Ltd. jumped 31% to its highest level since 2011. Materials and health care were among laggards. Oil gained the most in about a week with expectations for tighter global supply offsetting concerns that a bumpy Covid-19 vaccine rollout will further blunt demand. Moderna Inc. said its vaccine will protect against two known variants of the Covid-19 virus, but it plans to start human studies of a booster shot for a strain from South Africa that may cause immunity to wane more quickly.
Commodities
* Western Canadian Select crude oil traded at a $13.75 discount to West Texas Intermediate
* Spot gold fell 0.01% to $1,855.44
FX/Bonds
* The Canadian dollar fell 0.1% to C$1.2744 per U.S. dollar
* The 10-year Canada government bond yield fell 3.6 basis points to 0.806%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose 0.3 percent at 17,906.02 in Toronto. The move was the biggest since rising 1.1 percent on Jan. 7 and follows the previous session’s decrease of 0.4 percent. BlackBerry Ltd. contributed the most to the index gain, increasing 28.3 percent. Tfi International Inc. had the largest increase, rising 32.3 percent. Today, 108 of 221 shares rose, while 107 fell; 6 of 11 sectors were higher, led by information technology stocks.
Insights
* This month, the index rose 2.7 percent
* The index advanced 1.9 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 0.8 percent below its 52-week high on Jan. 8, 2021 and 60.3 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 1.6 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.3 on a trailing basis and 17.2 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$2.76t
* 30-day price volatility rose to 8.19 percent compared with
8.16 percent in the previous session and the average of 8.42 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 30.0351| 1.6| 7/3
Industrials | 25.7655| 1.2| 20/8
Communication Services | 9.3373| 1.1| 5/2
Consumer Staples | 6.7729| 1.1| 7/3
Utilities | 0.7994| 0.1| 8/8
Consumer Discretionary | 0.0283| 0.0| 6/7
Energy | -0.5457| 0.0| 11/10
Health Care | -0.9692| -0.4| 4/4
Financials | -1.0778| 0.0| 16/10
Real Estate | -1.1639| -0.2| 10/15
Materials | -8.8766| -0.4| 14/37
US
By Katherine Greifeld
(Bloomberg) — Technology shares led gains in U.S. stocks as investors awaited earnings from some of the biggest companies. The Nasdaq 100 climbed amid gains for Apple Inc., Tesla Inc. and Microsoft Corp. The S&P 500 Index ended higher, though gains were limited after the top Senate Democrat said lawmakers said an aid package was unlikely before mid-March and a U.S. health official expressed concern about vaccination delays. GameStop Corp. extended its extreme volatility, more than doubling before paring most of the gains. The picture was more negative in Europe, with equity benchmarks in France, Spain and the U.K. ending lower. The Stoxx 600 Travel & Leisure index lost 1.9% amid news France may go into another lockdown, the U.K. may tighten border controls and as Israel moved to bar foreign flights from entering the country.
The S&P 500 is coming off its best week since November, and investors are looking for fresh catalysts to push the index higher or at least justify current valuations. That could come from a slate of earnings reports due this week that will shed light on how the biggest tech companies are faring and whether retailers, travel companies and restaurants are seeing any meaningful pickup in business. “You’ve got 65% of market cap reporting in the next two weeks,” Stuart Kaiser, head of derivatives research at UBS Group AG, said in a Bloomberg Television interview. “The market had rotated into cyclical/value stocks at the end of last year and early into this year, and as earnings have started, I think they’ve been sort of reminded why they liked the leaders to begin with from last year.” In Asia, stocks gained. Chinese internet firm Tencent Holdings Ltd. jumped 11%, the biggest gain since 2011, as mainland traders sparked a buying frenzy. Elsewhere in markets, crude oil in New York climbed toward $53 a barrel and the dollar gained. Sovereign bond yields dipped while Bitcoin rebounded above $34,000 before paring the advance.
These are some key events coming up in the week ahead:
* Microsoft Corp., Apple Inc., Tesla Inc., Facebook Inc., UBS Group AG and Samsung Electronics Co. are among companies reporting results.
* Data on U.S. home prices and consumer confidence come Tuesday.
* The Federal Open Market Committee monetary policy decision and briefing by Chair Jerome Powell are scheduled for Wednesday.
* Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.4% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index declined 0.8%.
* The MSCI Asia Pacific Index advanced 1%.
* The MSCI Emerging Market Index climbed 1.2%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.2%.
* The euro decreased 0.3% to $1.2141.
* The British pound fell 0.1% to $1.3668.
* The Japanese yen was little changed at 103.77 per dollar.
Bonds
* The yield on 10-year Treasuries declined five basis points to 1.04%.
* Germany’s 10-year yield decreased four basis points to -0.55%.
* Britain’s 10-year yield fell five basis points to 0.26%.
Commodities
* West Texas Intermediate crude rose 1% to $52.80 a barrel.
* Gold was little changed at $1,855.01 an ounce.
–With assistance from Joanna Ossinger, Paul Jarvis, Anchalee Worrachate and Sunil Jagtiani.

Have a great night.

Be magnificent!
As ever,

Carolann

The secret of success is before attempting anything,
be very clear about why you are doing it. –Guan Yin Tzu.

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

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

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

Dear Friends,

Tangents: Happy Friday.
Bees aren’t getting enough sleep, thanks to some common pesticides.  You monsters! Let the bees sleep! –CNN.

Forget the mittens; Bernie Sanders’ inauguration coat is selling out

Hank Aaron, who faced down racism to become one of baseball’s greatest players and its home run king, has died at 86.  The Atlanta Braves, his team for many years, confirmed the death but did not provide a cause.  Aaron’s pursuit of Babe Ruth’s career record of 714 home runs proved a deeply troubling affair beyond the pressures of the ball field. When Aaron hit his 715th home run in 1974 against the Los Angeles Dodgers, he prevailed in the face of hate mail and death threats from racists who were outraged that a Black man could supplant a white baseball icon. 

“It really made me see for the first time a clear picture of what this country is about,” Aaron later said of the accomplishment. He would go on to hold the title of most home-runs — 755 in total — for 30 years. It was one of many outrageous stats held by Hammerin’ Hank. -NYTimes.

The Late Night Hosts weighed in on Biden’s first day in the White House:
“The first day on the job is stressful — any job — but especially when you’re the new manager and the last guy got called into H.R. for inappropriate workplace treasoning,” Stephen Colbert said.

“Yeah, it was Biden’s first full day. I’m sure part of him was like, ‘Just to mess with everyone, I should go golfing.’” — JIMMY FALLON

“The Trump administration had a year and they didn’t even sit down and draw up a plan. Was coronavirus task force leader Mike Pence in cold storage during that whole time? Did Dr. Birx get lost in a pile of scarves?” — SETH MEYERS

“Yeah, I mean, honestly, what did they expect? It’s like walking into your house and being mad that your dog didn’t do your taxes.” — JIMMY FALLON
PHOTOS OF THE DAY
A drone photo shows goats and shepherds walk in a single line on the slopes of the snowy mountains returning from the plateaus of 2,500 altitude in Diyarbakr’s Kulp district, Turkey
CREDIT: BESTAMI BODRUK/ANADOLU AGENCY VIA GETTY IMAGES
This Globe-bearing treehopper (Bocydium globulare) or Helicopter treehopper is pictured in the Amazon Rainforest, near Puyo, Ecuador
CREDIT: DAVID WEILLER/WENN
New York-style Brasher Doubloon
CREDIT: HERITAGE AUCTIONS VIA AP

Market Closes for January 22^nd, 2021 

Market Index	Close	Change
Dow Jones	30996.98	-179.03
		-0.57%
S&P 500	3841.47	-11.60
		-0.30%
NASDAQ	13543.063	+12.148 +0.09%
TSX	17845.91	-70.29
		-0.39%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28631.45	-125.41
		-0.44%
HANG SENG	29447.85	-479.91
		-1.60%
SENSEX	48878.54	-746.22
		-1.50%
FTSE 100*	6695.07	-20.35 -0.30%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.846	0.870
CND. 30 Year Bond	1.473	1.499
U.S.    10 Year Bond	1.0855	1.1058
U.S. 30 Year Bond	1.8466	1.8692

Currencies

BOC Close	Today	Previous
Canadian $	0.78494	0.79131
US $	1.27399	1.26373
Euro Rate 1 Euro=		Inverse
Canadian $	0.64483	1.55080
US $	0.82150	1.21728

Commodities

Gold	Close	Previous
London Gold Fix	1862.10	1856.60
Oil
WTI Crude Future	52.25	53.09

Market Commentary:
     On this day in 1968, in an emergency move, the New York Stock Exchange closed 90 minutes early, at 2 p.m. The early close, reported The Wall Street Journal, was meant to help inundated trading clerks catch up on a “deluge of paper work that has resulted from a recent sustained period of unusually heavy trading.” 
Canada
By Aoyon Ashraf and Michael Bellusci
(Bloomberg) — Canadian stocks dropped for a second straight week as traders weighed coronavirus lockdowns and corporate earnings. The S&P/TSX Composite Index dropped 0.4% Friday, with energy and financials lagging. Info tech advanced. Oil declined the most in a week on Friday with rising U.S. crude stockpiles seen as an obstacle facing a market that is still recovering from a pandemic-induced demand slump. The Ontario Teachers’ Pension Plan committed to reaching net-zero emissions across its investment portfolio within three decades.
Commodities
* Western Canadian Select crude oil traded at a $14.00 discount to West Texas Intermediate
* Spot gold fell 0.8% to $1,854.70
FX/Bonds
* The Canadian dollar fell 0.7% to C$1.2727 per U.S. dollar
* The 10-year Canada government bond yield fell 2.4 basis points to 0.846%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.4 percent, or 70.29 to 17,845.91 in Toronto. The index dropped to the lowest closing level since Jan. 6. Toronto-Dominion Bank contributed the most to the index decline, decreasing 1.2 percent. Vermilion Energy Inc. had the largest drop, falling 5.6 percent. Today, 149 of 221 shares fell, while 70 rose; 6 of 11 sectors were lower, led by financials stocks.
Insights
* This month, the index rose 2.4 percent
* So far this week, the index fell 0.4 percent
* The index advanced 1.4 percent in the past 52 weeks. The MSCI
AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 1.2 percent below its 52-week high on
Jan. 8, 2021 and 59.7 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 17.1 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$2.77t
* 30-day price volatility fell to 8.16 percent compared with
8.19 percent in the previous session and the average of 8.52 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -41.2581| -0.8| 3/23
Energy | -24.9611| -1.2| 3/19
Materials | -11.9560| -0.5| 13/39
Industrials | -8.3098| -0.4| 13/16
Real Estate | -1.9974| -0.4| 5/20
Consumer Discretionary | -0.8789| -0.1| 5/8
Communication Services | 0.0306| 0.0| 5/2
Consumer Staples | 0.0423| 0.0| 4/6
Health Care | 1.5690| 0.6| 5/4
Utilities | 4.2921| 0.5| 10/6
Information Technology | 13.1355| 0.7| 4/6
US
By Lu Wang
(Bloomberg) — U.S. stocks slipped from records as investors grew anxious that the virus will hamper growth for longer than expected and Democrats may struggle to get a nearly $2 trillion spending bill through Congress. The S&P 500 Index fell for the first time in four days, with losses widening on reports that the new virus strain may be deadlier. It rose 1.9% in the week. Oil’s slump dragged energy companies lower, while Intel Corp. dropped after its new boss recommitted to chipmaking, a move opposed by some investors. Yields on Treasuries edged lower, and crude oil slid below $53 a barrel. Bloomberg’s dollar index rose for the first time in five sessions. Overseas markets struggled after economic data in Europe missed estimates. IHS Markit data showing a pickup in U.S. manufacturing did little to boost sentiment.
     Senate Republicans continued to come out against Joe Biden’s aid package, threatening the legislation’s passage in the sharply divided body.  “The virus numbers are not good right now obviously around the world, especially in the U.S. and in Europe, and we’re also getting a little bit more question about how much of the stimulus is actually feasible and what’s the timeline,” Scott Ladner, chief investment officer at Horizon Investments, said by phone. “Those two things are putting just a damper on the enthusiasm that has existed since November.” The week’s global equity rally, spurred by expectations of economic support and the rollout of vaccines, paused as traders weigh still-troubling Covid-19 trends. Biden, who is pushing for $1.9 trillion in additional spending, unveiled a strategy to combat the virus while warning the pandemic will worsen before it improves.
      Restrictions intensified from Germany and the U.K. to Hong Kong, and the European Central Bank cautioned that the euro area is headed for a double-dip recession. The U.K.’s new more contagious strain of coronavirus may be linked to higher mortality, Prime Minister Boris Johnson has said. “Recent news flow on the pandemic has not been favorable,” said Jean-Francois Paren, global head of market research at Credit Agricole. “After the post-election wave of optimism from the U.S., markets have been left facing the reality of vaccine delivery and new lockdown measures, and the perspective of a double-dip in Europe.” The Stoxx Europe 600 index fell for the second straight week as a gauge of private-sector activity in the euro region fell deeper into contraction and Germany cut its forecast for economic growth. The British pound weakened after Johnson said the U.K.’s third lockdown could last into the summer. Italian stocks underperformed and bond yields rose after reports Prime Minister Giuseppe Conte is considering early elections.  Elsewhere, Bitcoin rebounded to trade around $32,000 after earlier tumbling below $30,000.

These are the main moves in markets:
Stocks
* The S&P 500 lost 0.3% by 4 p.m. New York time.
* The Stoxx Europe 600 Index fell 0.6%.
* The MSCI Asia Pacific Index dropped 0.7%.
* The MSCI Emerging Markets Index slipped 1.1%.
Currencies
* The Bloomberg Dollar Spot Index climbed 0.4%.
* The yen was at 103.78 per dollar, dipping 0.3%.
* The euro rose 0.1% to $1.2178.
* The British pound weakened 0.5% to $1.3664.
Bonds
* The yield on 10-year Treasuries fell two basis points to 1.08%.
* Germany’s 10-year yield dipped one basis point to -0.51%.
* The U.K.’s 10-year yield fell one basis point to 0.32%.
Commodities
* West Texas Intermediate crude fell 1.4% to $52.41 a barrel.
* Gold dropped 0.9% to $1,852.94 an ounce.
–With assistance from Robert Brand and Brendan Walsh.
Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann
If you just set out to be liked, you will be prepared to compromise on anything at any time,
and would achieve nothing. -Margaret Thatcher, 1925-2013

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

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

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

Dear Friends,

Tangents:
Ethan Allen, revolutionary war hero, b.1738.
Christian Dior, designer, b.1905.
1915: Kiwanis International founded.
1981: Ronald Reagan inaugurated as the 40^th President of the United States of America.
On Jan. 21, 1924, the Russian revolutionary Vladimir Ilyich Lenin died at age 53. Go to article »

Scientists make paralyzed mice walk again. (h/t Scott Kominers)
Bernie Sanders is now a meme.

The Trump era in a nutshell. We asked a group of presidential historians to weigh in on Trump’s biggest achievements, his most emblematic moments and to sum up his term in three words. The answers were timely, foreboding and downright relentless. See their picks and tell us yours.-Bloomberg.

The Late Night Hosts weigh in:
“Wow, all right. So that’s what it feels like when you’re not grinding your teeth. I forgot, and I think — yeah, I can see colors again.” — SETH MEYERS

“It’s so nice to have a president with a soul again. The previous one sold his to the devil and didn’t even get Georgia out of the deal.” — STEPHEN COLBERT

“‘Have a good life?’ That’s not a presidential farewell. That’s what your high school crush writes in your yearbook as a final twist of the knife: ‘I guess we won’t be seeing each other with me going to Bryn Mawr and you staying here to chase your kickboxing dreams so, have a good life.’” — SETH MEYERS

“That’s ominous. What form? A Demogorgon? A Horcrux? Maybe he’ll come back as the Stay Puft Marshmallow Man?” — JIMMY KIMMEL

“‘In some form?’ What does that mean? [imitating Trump] ‘Whenever you see a black plastic bag stuck in a tree, or a vulture on the shoulder of the highway pulling the guts out of a dead raccoon, that’ll be me.’” — SETH MEYERS

“Who wrote this speech, Voldemort?” — JIMMY FALLON
PHOTOS OF THE DAY

A child runs towards a dust storm in Mullengudgery, New South Wales, Australia. Dust storms have hit many parts of western New South Wales as a prolonged drought continues.
CREDIT: MARCIA MACMILLAN/AFP/GETTY IMAGES
An Ethiopian Orthodox Christian holds a candle during the celebration of Timkat, the Ethiopian Epiphany, in Gondar, Ethiopia.
CREDIT: EDUARDO SOTERAS/AFP/GETTY IMAGES
A man dressed as a clown is part of hundreds of climate protesters who are on a there-day-protest march from Landquart to Davos pass the city of Klosters, Switzerland
CREDIT: AP PHOTO/MICHAEL PROBST
Central American migrants – mostly Hondurans, travelling on caravan to the US- remain at the international bridge that connects Tecum Uman, Guatemala, with Ciudad Hidalgo, Mexico. Most of the migrants left last Tuesday from Honduras and had arrived Saturday morning at the bridge over the Suchiate River, which forms the border between Guatemala and Mexico to the north.
CREDIT: CARLOS ALONZO / AFP
Market Closes for January 21^st, 2021 

Market Index	Close	Change
Dow Jones	31176.01	-12.37
		-0.04%
S&P 500	3853.07	+1.22
		+0.03%
NASDAQ	13530.915	+73.667 +0.55%
TSX	17916.20	-98.70
		-0.55%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28756.86	+233.60
		+0.82%
HANG SENG	29927.76	-34.71
		-0.12%
SENSEX	49624.76	-167.36
		-0.34%
FTSE 100*	6715.42	-24.97 -0.37%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.870	0.826
CND. 30 Year Bond	1.499	1.459
U.S.    10 Year Bond	1.1058	1.0802
U.S. 30 Year Bond	1.8692	1.8296

Currencies

BOC Close	Today	Previous
Canadian $	0.79131	0.79234
US $	1.26373	1.26208
Euro Rate 1 Euro=		Inverse
Canadian $	1.53785	0.65026
US $	1.21692	0.82175

Commodities

Gold	Close	Previous
London Gold Fix	1856.60	1834.70
Oil
WTI Crude Future	53.09	53.24

Market Commentary:
On this day in 1993, just over a year after breaking the 600 mark, the Nasdaq Composite Index broke the 700 barrier, finishing the day at 700.77.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks fell on Thursday, while tech shares led U.S. stocks to all-time highs. The S&P/TSX Composite index fell 0.6% in Toronto. Health care and industrials were the worst performers, while utilities and communication services were the only sectors in the green. Ontario Municipal Employees’ Retirement System almost quadrupled its stock holdings in Asia-Pacific last year and plans to keep boosting its exposure to the fast-growing region over the next several years. The pension manager, known as Omers, deployed almost C$4 billion ($3.17 billion) in the region, up from about C$1 billion.
Commodities
* Western Canadian Select crude oil traded at a $14.00 discount to West Texas Intermediate
* Spot gold was flat around $1,870.48 an ounce
FX/Bonds
* The Canadian dollar was flat around C$1.2630 per U.S. dollar
* The 10-year Canada government bond yield rose 4 basis points to 0.869%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 0.5 percent at 17,916.20 in Toronto. The move was the biggest since falling 0.6 percent on Jan. 11 and follows the previous session’s increase of 0.3 percent. Canadian National Railway Co. contributed the most to the index decline, decreasing 1.7 percent. Canada Goose Holdings Inc. had the largest drop, falling 5.6 percent. Today, 157 of 221 shares fell, while 59 rose; 9 of 11 sectors were lower, led by financials stocks.
Insights
* This month, the index rose 2.8 percent
* So far this week, the index was little changed
* The index advanced 2 percent in the past 52 weeks. The MSCI AC
Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 0.8 percent below its 52-week high on
Jan. 8, 2021 and 60.4 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.4 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.3 on a trailing basis and 17.2 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$2.78t
* 30-day price volatility rose to 8.19 percent compared with
8.01 percent in the previous session and the average of 8.60 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -27.6986| -0.5| 10/15
Industrials | -25.0538| -1.1| 8/19
Energy | -15.4262| -0.7| 2/20
Materials | -15.0050| -0.6| 11/41
Information Technology | -11.5945| -0.6| 3/7
Real Estate | -4.4382| -0.8| 2/24
Health Care | -3.1830| -1.2| 1/8
Consumer Discretionary | -2.6152| -0.4| 2/11
Consumer Staples | -0.3158| 0.0| 5/4
Communication Services | 1.4299| 0.2| 5/2
Utilities | 5.2025| 0.6| 10/6
US
By Cecile Gutscher
(Bloomberg) — U.S. stocks eked out a gain to close at a record with tech shares lifting the major indexes on anticipation that more fiscal spending will revive economic
growth and bolster corporate earnings. The dollar weakened. The S&P 500 Index rose a bit omre than one point, while the Nasdaq indexes rose at least 0.5%. Risk appetite has gotten a boost from President Joe Biden’s push for nearly $2 trillion in additional spending and plans to jumpstart a federal response to the pandemic.
Benchmark Treasury yields remained higher after initial jobless claims posted a small decline. U.S. equities remained at records with stretched valuations as earnings continue to roll in. Intel Corp. reported fourth- quarter revenue that topped expectations. Investors continue to bet on another stimulus package from Biden as the president ramps up the federal response to the pandemic. European Central Bank President Christine Lagarde warned the virus continues to pose a serious risk after policy makers voted to keep pumping unprecedented amounts of stimulus into the economy. “High valuations could find justification in the strong recovery that we expect, while inflation assets remain in the affordable zone,” according to Florian Ielpo, head of macroeconomic research andmulti-asset portfolio manager at Unigestion SA. “We therefore see 2021 as a land of investment opportunities.”
Meanwhile, fresh tensions surfaced between U.S. companies and Beijing. China’s three biggest telecommunications firms said they requested a review of the New York Stock Exchange’s decision to delist their shares. Separately, Twitter Inc. locked the official account of the Chinese embassy to the U.S., citing a violation of its “dehumanization” policy. On the virus front, global fatalities hit a daily record, with a U.K. official comparing some hospitals there to a “war zone.”
These are some key events coming up:
* Earnings are due from companies including Schlumberger Ltd. and Yes Bank Ltd.

These are the main moves in markets:
Stocks
* The S&P 500 rose less than 0.1% as of 4 p.m. in New York.
* The Nasdaq 100 Index added 0.8%.
* The Stoxx Europe 600 Index ended flat.
* The MSCI Asia Pacific Index rose 0.7%.
* The MSCI Emerging Market Index gained 0.6%.
Currencies
* The Bloomberg Dollar Spot Index declined 0.2%.
* The euro jumped 0.4% to $1.2158.
* The British pound gained 0.5% to $1.372.
* The onshore yuan was little changed at 6.461 per dollar.
* The Japanese yen was little changed at 103.54 per dollar.
Bonds
* The yield on 10-year Treasuries gained three basis points to 1.11%.
* The yield on two-year Treasuries fell one basis point to 0.12%.
* Germany’s 10-year yield climbed three basis points to -0.496%.
* Japan’s 10-year yield dipped one basis point to 0.043%.
Commodities
* West Texas Intermediate crude declined 0.3% to $53.13 a barrel.
* Brent crude was little changed at $56.11 a barrel.
* Gold futures rose 0.1% to $1,871.90 an ounce.
–With assistance from Michael Msika and Adam Haigh.
Have a great night.

Be magnificent!
As ever,

Carolann

You can’t always get what you want but if you try sometimes
you just might find you get what you need.  -Mick Jagger, b. 1943

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

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

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

Dear Friends,

Tangents: U.S. Presidential Inauguration Day.

On Jan. 20, 1981, Iran released 52 Americans held hostage for 444 days, minutes after the presidency had passed from Jimmy Carter to Ronald Reagan.  Go to article » 
 
PHOTOS OF THE DAY

Joe Biden is sworn in as the 46th president of the United States by Chief Justice John Roberts as Jill Biden holds the Bible during the 59th Presidential Inauguration 
CREDIT: ANDREW HARNIK/AP

A man rides a penny-farthing bicycle in central London
CREDIT: DANIEL LEAL-OLIVAS/AFP VIA GETTY IMAGES

David Gilligan took first prize in the Trail magazine’s 2020 UK Mountain Photo of the Year award with this self-portrait, standing atop the rocks of Castell y Gwynt in Glyder Fach, Snowdonia
CREDIT:DAVID GILLIGAN/TRAIL MAGAZINE

Market Closes for January 20^th, 2021 

Market Index	Close	Change
Dow Jones	31188.38	+257.86
		+0.83%
S&P 500	3851.85	+52.94
		+1.39%
NASDAQ	13457.250	+260.070 +1.97%
TSX	18014.91	+57.54
		+0.32%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28523.26	-110.20
		-0.38%
HANG SENG	29962.47	+320.19
		+1.08%
SENSEX	49792.12	+393.83
		+0.80%
FTSE 100*	6740.39	+27.44 +0.41%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.826	0.803
CND. 30 Year Bond	1.459	1.441
U.S.    10 Year Bond	1.0802	1.0903
U.S. 30 Year Bond	1.8296	1.8381

Currencies

BOC Close	Today	Previous
Canadian $	0.79234	0.78520
US $	1.26208	1.27357
Euro Rate 1 Euro=		Inverse
Canadian $	1.52922	0.65393
US $	1.21167	0.82531

Commodities

Gold	Close	Previous
London Gold Fix	1834.70	1833.05
Oil
WTI Crude Future	53.24	52.98

Market Commentary:
On this day in 1870, the first known female-owned U.S. stock brokerage was launched, as sisters Victoria Woodhull and Tennie Claflin opened their Woodhull, Claflin & Co. at 44 Broad St. in Manhattan. Bedeviled by rumors that it was merely a front for Woodhull’s supposed lover, Commodore Cornelius Vanderbilt, the firm did not survive long.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets rose on Wednesday, as the Bank of Canada adopted a positive tone on the outlook for the nation’s economy. The S&P/TSX Composite index rose 0.3% in Toronto. Materials and tech stocks were the best performers, while health care was the worst sector. The Bank of Canada is choosing to look past a weak start to 2021 as vaccine efforts accelerate. In a decision Wednesday from Ottawa, policy makers led by Governor Tiff Macklem said the economy remains on a two-year timeline to fully repair damage from the pandemic and doesn’t currently need additional support, even amid a wave of new Covid-19 cases and lockdowns.
Commodities
* Western Canadian Select crude oil traded at a $14.00 discount to West Texas Intermediate
* Spot gold rose 1.6% to $1,870.02 an ounce
FX/Bonds
* The Canadian dollar rose 0.7% to C$1.2643 per U.S. dollar
* The 10-year Canada government bond yield rose to 0.826%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose for the third day, climbing 0.3 percent, or 57.54 to 18,014.91 in Toronto. The move was the biggest since rising 1.1 percent on Jan. 7. Shopify Inc. contributed the most to the index gain, increasing 1.5 percent. MEG Energy Corp. had the largest increase, rising 9.8 percent. Today, 138 of 221 shares rose, while 80 fell; 6 of 11 sectors were higher, led by materials stocks.
Insights
* This month, the index rose 3.3 percent
* The index advanced 2.4 percent in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 0.2 percent below its 52-week high on Jan. 8, 2021 and 61.2 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.4 percent in the past 5 days and rose 2.7 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 17.3 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$2.77t
* 30-day price volatility fell to 8.01 percent compared with
8.01 percent in the previous session and the average of 8.62 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 34.0496| 1.4| 45/7
Information Technology | 26.2960| 1.4| 9/1
Real Estate | 7.6815| 1.4| 25/1
Utilities | 3.9558| 0.4| 12/4
Consumer Discretionary | 3.0215| 0.4| 8/5
Consumer Staples | 0.0892| 0.0| 4/5
Financials | -1.0398| 0.0| 14/11
Communication Services | -1.5672| -0.2| 3/4
Energy | -4.5869| -0.2| 8/14
Health Care | -4.6233| -1.7| 1/8
Industrials | -5.7311| -0.3| 9/20
US
By Adam Haigh and Vildana Hajric
(Bloomberg) — U.S. stocks rallied to all-time highs as investors grew optimistic that recent federal spending will revive growth and bolster corporate earnings. Treasuries were little changed while the dollar weakened. The Nasdaq 100 Index jumped more than 2% and the S&P 500 Index posted the best first-day reaction to a newly elected president’s inauguration since Jan. 20 became the official start in 1937.
Netflix Inc. surged more than 17% after a jump in subscribers. Chipmaker ASML Holding NV rallied on solid results. Morgan Stanley gained after reporting record full-year results. Investors looked past a fresh stumble in the rollout of vaccines and elevated infection rates, and eyed the promise of more stimulus and an expanded federal effort to get shots to more Americans quickly under President Joe Biden. “If stimulus happens at the same time that people get vaccinated, the optimism can’t help but build,” said Keith Buchanan, a portfolio manager for GLOBALT Investments in Atlanta. “It’s a fairly safe bet there will be another stimulus package with more direct payments to consumers and individuals and more help for small businesses..” Investors are counting on more spending to help propel economic growth under Biden, who is planning a flurry of executive orders on his first day. Still, it won’t be all smooth sailing, with Janet Yellen encountering early Republican resistance to Biden’s relief plan in her confirmation hearing to become Treasury secretary.
On the virus front, Germany suffered record daily deaths and a study on the South African variant raised concern about the efficacy of vaccines. Elsewhere, crude oil edged higher and gold traded touched an almost two-week high. In Asia, Chinese firms trading in Hong Kong saw the bulk of gains, and the Hang Seng Index approached the 30,000 level. Alibaba Group Holding Ltd. rallied after billionaire Jack Ma resurfaced from months out of public view amid escalating scrutiny over his internet empire. These are some key events coming up:
* Policy decisions are due Wednesday from central banks in Brazil and Canada. The Bank of Japan and the ECB deliver decisions Thursday.

Here are the main moves in markets:
Stocks
* The S&P 500 Index increased 1.4% as of 4 p.m. New York time, the highest on record with the largest climb in almost two weeks.
* The Nasdaq Composite Index gained 2% to the highest on record.
* The Nasdaq 100 Index rose 2.3% to an all-time high.
* The Stoxx Europe 600 Index increased 0.7% to 410.78.
Currencies
* The Bloomberg Dollar Spot Index declined 0.2%.
* The euro fell 0.2% to $1.2101.
* The British pound rose 0.1% to $1.3644.
* The Japanese yen appreciated 0.3% to 103.57 per dollar, the strongest in two weeks on the largest gain in more than a week.
Bonds
* The yield on 10-year Treasuries lost one basis point to 1.085%.
* The two-year rate fell to 0.13%.
* Germany’s 10-year yield dipped less than one basis point to -0.53%.
Commodities
* West Texas Intermediate crude gained 0.6% to $53.29 a barrel.
* Gold strengthened 1.4% to $1,865.95 an ounce, the highest in almost two weeks on the biggest jump in more than two weeks.
–With assistance from Michael G. Wilson.
Have a great night.

Be magnificent!
As ever,

Carolann

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

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

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

Dear Friends,

Tangents:
1870: Tin can patented
Edgar Allen Poe, poet, b. 1808
Paul Cezanne, painter, b. 1939
On Jan. 19, 1937, millionaire Howard Hughes set a transcontinental air record by flying his monoplane from Los Angeles to Newark, N.J., in 7 hours, 28 minutes and 25 seconds. Go to article »
 
Electric cars get a battery that can charge in five minutes–Bloomberg.

Hold the boeuf bourguignon. I’ll have the dulse seaweed, lemongrass and galangal.

For the first time in France, the Michelin Guide awarded a star to a fully vegan restaurant, ONA, a small restaurant on the Atlantic coastline near Bordeaux.

“We want to show you can eat differently,” said Claire Vallée, the chef at ONA, which stands for “Origine Non Animale,” or “Non-Animal Origin.” She is one of a growing number of chefs in France who are eschewing the country’s traditional, meat-focused cuisine.  AM by Alexandre Mazzia in Marseille was a new addition to the top category;
no previous three-star restaurants were demoted. –The New York Times.

From The Late Night Hosts last night:
“Today was Martin Luther King Jr. Day, and I’d like to think he’d have a good laugh if he knew the F.B.I. had to spend this federal holiday tracking down and arresting thousands of white supremacists. He did have a second dream, and that was it.” — SETH MEYERS

“Trump’s leaving office with his lowest approval rating yet — it’s down to 29 percent. Which, for someone who incited a violent insurrection to overthrow the government isn’t bad. I mean, honestly, what would he have to do to get below 20 percent — eat the Constitution?” — JIMMY KIMMEL

“Normally, after a president’s term, they show before and after photos to prove how much the job aged him. This time, they’re showing before and after photos of all of us.” — JIMMY FALLON

PHOTOS OF THE DAY
‘Berkutchi’ – Mongolian hunters who use trained golden eagles to forage food – from Bayan-Olgii, an area located in the Altai Mountains of western Mongolia
CREDIT: ZAY YAR /SWNS.COM
 A large hippopotamus demonstrates the size and power of its jaw as it prepares to fight another on the Chobe River, in Botswana
Credit: CHARL STOLS/SOLENT NEWS & PHOTO AGENCY
A visitor takes part in a tour in Son Doong cave, one of the world’s largest natural caves, in central Vietnam’s Quang Binh province
CREDIT: NHAC NGUYEN/AFP VIA GETTY IMAGES
Market Closes for January 19^th, 2021 

Market Index	Close	Change
Dow Jones	30930.52	+116.26
		+0.38%
S&P 500	3798.91	+30.66
		+0.81%
NASDAQ	13197.180	+198.678 +1.53
TSX	17957.37	+12.49
		+0.07%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28633.46	+391.25
		+1.39%
HANG SENG	29642.28	+779.51
		+2.70%
SENSEX	49398.29	+834.02
		+1.72%
FTSE 100*	6712.95	-7.70 -0.11%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.803	0.805
CND. 30 Year Bond	1.441	1.436
U.S.    10 Year Bond	1.0903	1.0835
U.S. 30 Year Bond	1.8381	1.8331

Currencies

BOC Close	Today	Previous
Canadian $	0.78520	0.78403
US $	1.27357	1.27545
Euro Rate 1 Euro=		Inverse
Canadian $	1.54456	0.64744
US $	1.2357	0.82455

Commodities

Gold	Close	Previous
London Gold Fix	1833.05	1839.00
Oil
WTI Crude Future	52.98	52.36

Market Commentary:
On this day in 1999, President Bill Clinton proposed, in his State of the Union address, “investing a small portion [of the Social Security trust fund] in the private sector just as any private or state government pension would do. This will earn a higher return and keep Social Security sound for 55 years.”
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks closed mixed on Tuesday, with energy shares climbing as oil rose while consumer stocks led decliners. The S&P/TSX Composite index rose less than 0.1% in Toronto with six of the 11 main sectors down for the day. Prime Minister Justin Trudeau reiterated his support for TC Energy Corp.’s Keystone XL pipeline, saying Canada’s government is still pressing U.S. President-elect Joe Biden’s team despite indications Biden has already decided to block the project soon after inauguration.
Commodities
* Western Canadian Select crude oil traded at a $13.70 discount to West Texas Intermediate
* Spot gold fell 0.1% to $1,839.03 an ounce
FX/Bonds
* The Canadian dollar rose 0.2% to C$1.2738 per U.S. dollar
* The 10-year Canada government bond yield was about flat at 0.805%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite advanced slightly to 17,957.37 in Toronto. TC Energy Corp. contributed the most to the index gain, increasing 4.8 percent. BlackBerry Ltd. had the largest increase, rising 18.9 percent. Today, 109 of 221 shares rose, while 106 fell; 5 of 11 sectors were higher, led by energy stocks.
Insights
* The index advanced 2.3 percent in the past 52 weeks. The MSCI AC Americas Index gained 16 percent in the same period
* The S&P/TSX Composite is 0.6 percent below its 52-week high on
Jan. 8, 2021 and 60.7 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.4 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.3 on a trailing basis and 17.2 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$2.77t
* 30-day price volatility fell to 8.01 percent compared with
8.23 percent in the previous session and the average of 8.65 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 46.1104| 2.2| 19/2
Materials | 12.8683| 0.5| 19/31
Health Care | 4.2377| 1.6| 4/5
Real Estate | 3.8296| 0.7| 22/3
Utilities | 0.4164| 0.0| 10/6
Information Technology | -0.8603| 0.0| 9/1
Consumer Discretionary | -5.5089| -0.8| 6/5
Communication Services | -6.7098| -0.8| 0/7
Consumer Staples | -7.2344| -1.1| 1/10
Industrials | -8.5768| -0.4| 13/16
Financials | -26.0921| -0.5| 6/20
US
By Anchalee Worrachate and Cormac Mullen
(Bloomberg) — U.S. stocks rose, led by gains in tech shares and small caps, with Wall Street parsing the latest earnings ahead of a flood of reports this week. The S&P 500 Index rebounded from Friday’s selloff after a three-day weekend that brought little by means of fresh macro news. Ten-year Treasury yields climbed back toward 1.1% and the dollar weakened. Crude oil and emerging markets also advanced. Goldman Sachs Group Inc. turned lower even after reporting that profit more than doubled. Bank of America Corp. shares edged higher after its results. General Motors Co. rose to a record after Microsoft Corp. invested in its self-driving car startup.
     Netflix Inc. reports results after markets close. Janet Yellen encountered early Republican resistance to President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan in her confirmation hearing to become Treasury secretary. Donald Trump is in the final hours of his term, with Biden to be sworn in at noon Wednesday in Washington. Hong Kong Stocks at 20-Month High as Record China Cash Floods In The market moves on Tuesday show that investors are coming back to the reflation trade, betting that the incoming U.S. administration will use its legislative firepower to propel economic growth.
     Biden’s stimulus package includes measures like a minimum-wage hike and substantial expansion in family and medical leave — programs that have already triggered Republican opposition. “Yellen is a positive,” said Mohit Kumar, strategist at Jefferies International. “We should have greater co-operation between the Fed and the Treasury, with both the monetary and fiscal policy working together and supportive. This is a good backdrop for risk sentiment.” In Asia, Hong Kong stocks closed at the highest level since May 2019. A spending spree by mainland investors is powering gains, lifting the Hang Seng Index up 2.7% on Tuesday. Signs suggest that mainland buying will continue, with investors shifting out of A shares to buy those listed in Hong Kong. The benchmark Hang Seng Index is still cheaper than the Shanghai Composite gauge in terms of price-to-earnings multiples. These are some key events coming up in the week ahead:
* Earnings come from companies including Morgan Stanley, Procter & Gamble, Intel, and Netflix.
* Joe Biden takes office as U.S. president on Wednesday.
* Policy decisions are due Wednesday from central banks in Brazil, Malaysia and
Canada. The Bank of Japan and the ECB deliver decisions Thursday.

Here are the main moves in markets:
Stocks
* The S&P 500 Index jumped 0.8% as of 4 p.m. in New York.
* The Stoxx Europe 600 Index lost 0.2%.
* The MSCI Asia Pacific Index increased 1.2%.
* The MSCI Emerging Market Index increased 1.6%.
Currencies
* The Bloomberg Dollar Spot Index declined 0.2%.
* The euro climbed 0.4% to $1.2124.
* The British pound increased 0.3% to $1.3631.
* The Japanese yen weakened 0.2% to 103.89 per dollar.
Bonds
* The yield on 10-year Treasuries was little changed at 1.09%.
* The yield on two-year Treasuries slipped to 0.13%.
* Germany’s 10-year yield advanced one basis point to -0.526%.
Commodities
* West Texas Intermediate crude advanced 1.2% to $53.01 a barrel.
* Gold futures added 0.5% to $1,838.80 an ounce.
–With assistance from Joanna Ossinger

Have a  great night.

Be magnificent!
As ever,

Carolann

The measure of success is not whether you have a tough problem to deal with,
but whether it’s the same problem you had last year. -John Foster Dulles, 1888-1959.

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

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

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

Dear Friends,

Tangents: Blue Monday & Winnie the Pooh Day.
Author A.A. Milne, b. 1882.

On Jan. 18, 1912, English explorer Robert F. Scott and his expedition reached the South Pole, only to discover that Roald Amundsen had gotten there first.  Go to article »

From The New York Times: Our editors also suggest these 12 new books, new music from Lana Del Rey and other artists, and the show “Joe Pera Talks With You” on HBO Max

PHOTOS OF THE DAY
A long exposure shows star trails above the Yangtze River in China
CREDIT: COSTFOTO/BARCROFT MEDIA VIA GETTY IMAGES
 A long exposure photo shows trains going in and out a train station in Frankfurt, Germany
CREDIT: MICHEAL PROBST/AP
A field of leeks is shown bathed in red and blue LED lights in the Dutch town of Lelystad, as part of artist Daan Roosegaarde’s new project “Grow”, intended to honour farmers and inspire them to experiment with LED technology as a supplement to natural light for crops
CREDIT: RUBEN HAMELINK/STUDIO ROOSEGAARDE/VIA REUTERS
Women dressed in kimonos pose for a selfie photograph at a deserted torii path Fushimi Inari Taish shrine on January 18, 2021 in Kyoto, Japan
CREDIT: BUDDHIKA WEERASINGHE/GETTY IMAGES
Market Closes for January 18^th, 2021 

Market Index	Close	Change
Dow Jones	Market Closed	N.A.
S&P 500	Market Closed	N.A.
NASDAQ	Market Closed	N.A.
TSX	17944.88	+35.85
		+0.20%

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28242.21	-276.97
		-0.97%
HANG SENG	28862.77	+288.91
		+1.01%
SENSEX	48564.27	-470.40
		-0.96%
FTSE 100*	6720.65	-15.06 -0.22%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.805	0.808
CND. 30 Year Bond	1.436	1.439
U.S.    10 Year Bond	1.0835	1.0835
U.S. 30 Year Bond	1.8331	1.8331

Currencies

BOC Close	Today	Previous
Canadian $	0.78403	0.78519
US $	1.27545	1.27358
Euro Rate 1 Euro=		Inverse
Canadian $	1.54042	0.64918
US $	1.20774	0.82799

Commodities

Gold	Close	Previous
London Gold Fix	1839.00	1841.75
Oil
WTI Crude Future	52.36	52.36

Market Commentary:
The stock market is a device for transferring money from the impatient to the patient. –Warren Buffett.
Canada
By Aoyon Ashraf
(Bloomberg) — Canada‘s stock market rose, led by tech and health care firms, amid low trading volume with U.S. markets shut in observance of Martin Luther King Jr. Day holiday.
The S&P/TSX Composite index rose 0.2% in Toronto on Monday. The tech sector was the biggest winner with Shopify Inc. contributing the most to the rally.
Health care stocks came in second, led by Aurinia Pharmaceuticals. Energy was the only group in red on Monday, as oil prices fell. On the M&A front, executives at Alimentation Couche-Tard Inc. defended a failed bid for Carrefour SA and said they would still like to buy the French grocer some day, but will turn their focus to other potential deals. Meanwhile, Canada’s economy will start 2021 with a short-lived contraction, but that’s not expected to derail the nation’s recovery over the next couple of years.
Commodities
* Western Canadian Select crude oil traded at a $10.65 discount to West Texas Intermediate
* Spot gold rose o.7% to $1,841.26 an ounce
FX/Bonds
* The Canadian dollar fell 0.1% to C$1.2747 per U.S. dollar
* The 10-year Canada government bond yield fell slightly to 0.807%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose 0.2 percent at 17,944.88 in Toronto. The move follows the previous session’s decrease of 0.3 percent. Shopify Inc. contributed the most to the index gain, increasing 1.8 percent. Aurinia Pharmaceuticals Inc. had the largest increase, rising 6.2 percent. Today, 134 of 221 shares rose, while 81 fell; 10 of 11 sectors were higher, led by information technology stocks.
Insights
* The index advanced 2.2 percent in the past 52 weeks. The MSCI
AC Americas Index gained 15 percent in the same period
* The S&P/TSX Composite is 0.6 percent below its 52-week high on
Jan. 8, 2021 and 60.6 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.3 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.3 on a trailing basis and 17.2 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$2.77t
* 30-day price volatility little changed to 8.23 percent compared with 8.23 percent in the previous session and the
average of 8.76 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 28.7370| 1.6| 9/1
Financials | 22.9108| 0.4| 23/2
Materials | 9.7070| 0.4| 30/19
Industrials | 4.0838| 0.2| 16/13
Health Care | 3.1850| 1.2| 7/2
Real Estate | 2.5040| 0.5| 21/5
Consumer Discretionary | 2.0749| 0.3| 9/4
Utilities | 1.9169| 0.2| 9/6
Communication Services | 0.9252| 0.1| 2/4
Consumer Staples | 0.8211| 0.1| 6/5
Energy | -41.0147| -1.9| 2/20
US
ALL US MARKETS CLOSEED IN OBSERVANCE OF MARTIN LUTHER KING DAY.

Have a great night.

Be magnificent!
As ever,

Carolann

Injustice anywhere is a threat to justice everywhere.
                     -Martin Luther King Jr., 1929-1968

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