Month: April 2023

Dear Friends,

Tangents: Happy Friday.
April 28, 1789: Mutiny on the Bounty.
1945: Mussolini executed.
April 28, 1947: Thor Heyerdahl begins his legendary journey on Kon-Tiki.  The Norwegian explorer and his crew set out on the 101-day journey on the self-built raft to prove that South Americans could have reached and settled Polynesia in pre-Columbian times.

James Monroe, 5^th president, b. 1758.
Alice Waters, restauranteur, b.1944.
Jay Leno, comedian, b.1950.
Penelope Cruz, actress, b.1974.

Days before dying, Japan’s lunar lander snaps glorious photo of Earth during a total solar eclipse
Days before Japan’s Hakuto-R lunar lander apparently crashed into the moon’s surface on Tuesday, it snapped a truly gorgeous picture of our planet. Read More

Mysterious ‘painted people’ of Scotland are long gone, but their DNA lives on
Ancient DNA reveals that the Picts, the “painted people” of Scotland who fought off the Romans had local roots and were related to other Iron Age people in Britain. Read More

Newfound ‘brain signature’ linked to multiple psychiatric disorders
Young adults with multiple mental illnesses may share a common neurological “signature,” new research suggests. Read More

‘Mind boggling’ array of 19,000 undersea volcanoes discovered with high-resolution radar satellites
High-definition radar satellites have revealed more than 19,000 undersea volcanoes, providing scientists with the most comprehensive catalog of seamounts ever created. Read More
PHOTOS OF THE DAY

Nepal
Night falls over Mount Everest base camp
Photograph: Reuters

Johannesburg, South Africa
Autumn colours are reflected in the waters of the Emmarentia Dam reservoir as the southern hemisphere moves into autumn
Photograph: Kim Ludbrook/EPA

New York, US
The opening of sculptor Carole Feuerman solo outdoor public art show, Sea Idylls, on Park Avenue in NYC. The hyperrealistic sculptures in conjunction with Les Galeries Bartoux and Patrons of Park Avenue line the median
Photograph: Milo Hess/ZUMA Press Wire/Shutterstock
Market Closes for April 28^th, 2023

Market Index	Close	Change
Dow Jones	34098.16	+272.00
		+0.80%
S&P 500	4169.48	+34.13
		+0.83%
NASDAQ	12226.59	+84.35
		+0.69%
TSX	20636.54	+113.90
		+0.56%

International Markets

Market Index	Close	Change
NIKKEI	28856.44	+398.76
		+1.40%
HANG SENG	19894.57	+54.29
		+0.27%
SENSEX	61112.44	+463.06
		+0.76%
FTSE 100*	7870.57	+38.99
		+0.50%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	2.841	2.953
CND. 30 Year Bond	2.939	3.047
U.S.    10 Year Bond	3.4220	3.5223
U.S. 30 Year Bond	3.6733	3.7526

Currencies

BOC Close	Today	Previous
Canadian $	0.7383	0.7357
US $	1.3545	1.3592
Euro Rate 1 Euro=		Inverse
Canadian $	1.4922	0.6702
US  $	1.1017	0.9077

Commodities

Gold	Close	Previous
London Gold Fix	1985.65	2003.00
Oil
WTI Crude Future	76.78	74.76

Market Commentary:
📈 On this day in 1942: The World War II bear market hit bottom, as the Dow Jones Industrial Average closed at 92.92, down 0.97 points for the day and 16.3% for the year to date. Over the next four years, the market more than doubled.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.6%, or 113.9 to 20,636.54 in Toronto.
Canadian Natural Resources Ltd. contributed the most to the index gain, increasing 2.1%.
GFL Environmental Inc. had the largest increase, rising 7.5%.
Today, 146 of 232 shares rose, while 83 fell; 8 of 11 sectors were higher, led by energy stocks.
Insights
* This month, the index rose 2.7%
* So far this week, the index fell 0.3%, heading for the biggest decline since the week ended March 17
* The index declined 2.3% in the past 52 weeks. The MSCI AC Americas Index lost 3.6% in the same period
* The S&P/TSX Composite is 2.7% below its 52-week high on May 4, 2022 and 15.5% above its low on Oct. 13, 2022
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.4 on a trailing basis and 13.8 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.27t
* 30-day price volatility fell to 8.11% compared with 8.57% in the previous session and the average of 11.56% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 71.7805| 2.1| 38/2
Financials | 29.9668| 0.5| 23/5
Industrials | 19.4014| 0.7| 20/7
Information Technology | 6.3189| 0.5| 3/8
Real Estate | 2.6582| 0.5| 14/7
Communication Services | 0.3410| 0.0| 3/2
Consumer Staples | 0.2511| 0.0| 6/5
Health Care | 0.2440| 0.3| 1/5
Consumer Discretionary | -1.1482| -0.2| 10/5
Utilities | -3.4601| -0.4| 9/7
Materials | -12.4419| -0.5| 19/30
================================================================
| | |Volume VS | YTD
| Index | | 20D AVG | Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
Canadian Natural | | | |
Resources | 12.8500| 2.1| -45.8| 9.8
Suncor Energy | 10.6000| 2.7| 64.4| -1.2
TC Energy | 8.3460| 2.1| 40.6| 4.3
Wheaton Precious | | | |
Metals | -3.0460| -1.4| 27.5| 26.4
Barrick Gold | -3.5490| -1.1| -15.4| 11.0
Franco-Nevada | -4.0090| -1.4| 15.2| 11.4
US
By Jennifer Bissell-Linsk and Vildana Hajric
(Bloomberg) — US equities extended a rally Friday as investors wrestled with strong corporate earnings against concerns about regional banks and inflation.
Treasuries rose.
The S&P 500 gained 0.8% after better-than-expected earnings from the likes of Exxon Mobil Corp. and Intel Corp., up 1.3% and 4% respectively.
However, the gains proved precarious in midday trading after Federal Reserve officials called for broad changes to bank rules in the wake of Silicon Valley Bank’s collapse.
The Nasdaq 100 rose 0.7%, weighed down by Amazon.com Inc.’s 4% loss after a warning over growth in its key cloud computing business.
Meanwhile, First Republic Bank fell 43% after reports FDIC receivership is the most likely scenario for the bank after a run on deposits.
“Earnings relative to expectations appear resilient with a little more than half the S&P 500 reported,” wrote Scott  Chronert, managing director at Citi Research. “Full-year numbers and revisions have stabilized of late. The issue remains sentiment and positioning.”
Markets are on edge over the uncertainty of Federal Reserve interest-rate hikes, after fresh inflation data Friday increased the likelihood of an increase next week and possibly in June.
Traders have been anticipating the end of rate hikes near term, with cuts before year end.
The personal consumption expenditures price index excluding food and energy, one of the Fed’s preferred inflation gauges, rose 0.3% in March for a second month.
Compared with a year ago, the measure was up 4.6%, Commerce Department data showed.
“What looks like sticky contemporaneous inflation remains an issue, preventing the market from getting too carried away on the rate-cutting phase to come in subsequent quarters,” wrote Padhraic Garvey, head of global debt and rates strategy at ING Financial Markets.
The yield on the 10-year Treasury fell nine basis points to 3.44%.
US equities ended the month 1.5% higher, as corporate results have lifted investor sentiment in the face of rate-hike uncertainty and a possible recession.
In the latest batch of earnings, Charter Communications Inc. gained 7.6% after reporting results while Snap Inc. plunged 17% after missing revenue estimates.
“April largely is a good month. Again, it’s probably earnings-season driven, but we’ve been getting some economic reports that are also saying that the economy, and especially inflation, is likely going in the right direction — just not maybe fast enough,” said Kim Forrest, chief investment officer at Bokeh Capital Partners. “Businesses and people are spending, inflation is still there, but the data says it’s slowly ramping down.”
In Europe, the Stoxx 600 gained 0.6%, even as an uptick in consumer-price gains pointed to more rate increases by the European Central Bank.
The Bank of Japan, in contrast, renewed its commitment to stimulus after its first meeting under Kazuo Ueda.
It left its short-term policy rate at minus 0.1% and maintained its 0.5% ceiling for 10-year bond yields.
Elsewhere, oil prices gained, gold was little changed, and the dollar was modestly stronger against major peers.
Here are some of the main moves in markets:
Stocks
* The S&P 500 rose 0.8% as of 4 p.m. New York time
* The Nasdaq 100 rose 0.7%
* The Dow Jones Industrial Average rose 0.8%
* The MSCI World index rose 1.2%
Currencies
* The Bloomberg Dollar Spot Index rose 0.1%
* The euro was little changed at $1.1019
* The British pound rose 0.6% to $1.2567
* The Japanese yen fell 1.7% to 136.24 per dollar
Cryptocurrencies
* Bitcoin fell 1% to $29,349.69
* Ether fell 1.4% to $1,893.84
Bonds
* The yield on 10-year Treasuries declined nine basis points to 3.43%
* Germany’s 10-year yield declined 15 basis points to 2.31%
* Britain’s 10-year yield declined eight basis points to 3.72%
Commodities
* West Texas Intermediate crude rose 2.6% to $76.72 a barrel
* Gold futures were little changed
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Cecile Gutscher, Sujata Rao and Denitsa Tsekova.
Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann
Lay down for yourself, at the outset, a certain stamp and type of character for yourself, which you are to maintain whether you are by yourself
or meeting with people. -Epictetus, c.50-135 AD.

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

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

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

Dear Friends,

Tangents: Happy Friday Eve.

1972: Apollo 16 returned to Earth after a manned voyage to the moon.  Go to article >  
1994: South African citizens of all races are allowed to vote in a general election for the first time.
1805: US Marines attack Tripoli.

Ferdinand Magellan, explorer, b.1521.
Ulysses Grant, general, b.1822.
Edward Gibon, histoira, b. 1737.

Louisiana teen receives more than $9 million in scholarship offers.  This 16-year-old senior is graduating two years early and was accepted to more than 170 colleges.

WWII ship that sank with 1,000 Allied POWs on board discovered in South China Sea
The wreck of the Montevideo Maru, a Japanese transport ship that sank in World War II, has been discovered in the deep waters of the South China Sea. Read More

World’s heaviest Schrödinger’s cat made in quantum crystal visible to the naked eye
Physicists have created the world’s heaviest Schrödinger’s cat, bringing the bizarre behavior of the quantum world to larger scales than ever before. Read More

PHOTOS OF THE DAY

Northern Arabia: A satellite image shows a Roman military camp in the Arabian desert. University of Oxford researchers identified three new Roman fortified camps, in the typical playing card shape, across northern Arabia. The discovery may be evidence of potential surprise attacks during a previously undiscovered Roman military campaign linked to the Roman takeover of the Nabataean kingdom in AD106
Photograph: University of Oxford/PA

Paris, France: The artist Joana Vasconcelos presents the Tree of Life, an installation at Sainte-Chapelle De Vincennes. The 13ft tree contains 100,000 hand-woven and embroidered leaves
Photograph: Edward Berthelot/Getty Images

Hong Kong, China: Mainland Chinese tourists watch the sunset from a hill. Photograph: Louise Delmotte/AP
Market Closes for April 27^th, 2023

Market Index	Close	Change
Dow Jones	33826.16	+524.29
		+1.57%
S&P 500	4135.35	+79.36
		+1.96%
NASDAQ	12142.24	+287.89
		+2.43%
TSX	20522.64	+155.92
		+0.77%

International Markets

Market Index	Close	Change
NIKKEI	28457.68	+41.21
		+0.14%
HANG SENG	19840.28	+83.01
		+0.42%
SENSEX	60649.38	+348.80
		+0.58%
FTSE 100*	7831.58	-21.06
		-0.27%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	2.953	2.860
CND. 30 Year Bond	3.047	2.978
U.S.    10 Year Bond	3.5223	3.4485
U.S. 30 Year Bond	3.7526	3.7022

Currencies

BOC Close	Today	Previous
Canadian $	0.7357	0.7335
US $	1.3592	1.3633
Euro Rate 1 Euro=		Inverse
Canadian $	1.4985	0.6673
US  $	1.1025	0.9070

Commodities

Gold	Close	Previous
London Gold Fix	2003.00	1987.40
Oil
WTI Crude Future	74.76	74.30

Market Commentary:
📈 On this day in 1896, Wallace Hume Carothers was born in Burlington, Iowa. He later joined DuPont, where he invented the synthetic fabric used in rugs, parachutes and pantyhose: nylon.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose 0.8% at 20,522.64 in Toronto.
The move was the biggest since rising 0.9% on April 3 and follows the previous session’s decrease of 0.4%.
Royal Bank of Canada contributed the most to the index gain, increasing 1.2%.
Spin Master Corp. had the largest increase, rising 12.1%.
Today, 178 of 232 shares rose, while 53 fell; all sectors were higher, led by financials stocks.
Insights
* This month, the index rose 2.1%
* So far this week, the index fell 0.8%, heading for the biggest decline since the week ended March 17
* The index declined 1.1% in the past 52 weeks. The MSCI AC Americas Index lost 2.1% in the same period
* The S&P/TSX Composite is 3.3% below its 52-week high on May 4, 2022 and 14.8% above its low on Oct. 13, 2022
* The S&P/TSX Composite is down 0.5% in the past 5 days and rose 4.6% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.3 on a trailing basis and 13.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.25t
* 30-day price volatility fell to 8.57% compared with 8.61% in the previous session and the average of 11.73% over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 75.4579| 1.2| 28/1
Materials | 21.3252| 0.8| 36/13
Energy | 16.7267| 0.5| 25/15
Information Technology | 12.8821| 1.0| 7/5
Communication Services | 8.0434| 0.9| 5/0
Consumer Staples | 7.0768| 0.8| 11/0
Industrials | 5.2760| 0.2| 21/6
Real Estate | 3.7735| 0.8| 19/2
Consumer Discretionary | 2.7387| 0.4| 11/4
Utilities | 1.3463| 0.1| 10/6
Health Care | 1.2768| 1.8| 5/1
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
RBC | 15.0200| 1.2| -7.7| 5.1
Suncor Energy | 12.6600| 3.4| 80.7| -3.9
Brookfield Corp | 12.1100| 2.9| 12.7| 2.1
Bombardier | -1.8760| -4.9| 213.6| 17.4
Cenovus Energy | -4.1280| -1.9| 26.7| -16.7
Waste Connections | -9.1860| -2.7| 264.4| 3.7
US
By Peyton Forte and Carly Wanna
(Bloomberg) — US equities rose the most since January and Treasuries retreated Thursday after solid earnings from technology companies blotted out the impact of a report showing
slowing economic growth and higher-than-forecast inflation.
The S&P 500 jumped 2.0% and the tech-heavy Nasdaq 100 rose 2.8% as a surge in advertising revenue helped Meta Platforms
Inc. beat analyst estimates for profit, pushing the company’s shares 10% higher. Earlier in the week, Microsoft Corp. and Alphabet Inc. also delivered strong results.
“A lot of folks were (understandably) short or underweight big tech into earnings,” said Michael Purves, founder of Tallbacken Capital Advisors. “Perhaps a realization that big tech can drive a lot of earnings growth through simply driving efficiencies.”
Hasbro Inc. was the latest consumer company to top earnings estimates after the likes of Coca-Cola Co. and Procter & Gamble Co.
That boosted confidence corporate America is coping relatively well with price pressures and policy tightening.
Hasbro shares jumped 15%.
Treasuries fell, with the policy-sensitive two-year yield trading at 4.08%, as the unexpectedly high inflation data could prompt the Federal Reserve to keep interest rates higher for longer.
The US central bank is expected to raise rates by a quarter percentage point at its meeting next week.
“We are seeing heavier reactions in tech as firms are beginning to bear the fruit of earlier cost efficiencies,” Lewis Grant, senior portfolio manager for global equities at Federated Hermes, wrote in a note to clients. “Investor sentiment remains every bit as fragile as the global economy and earnings season provides much needed visibility on the general health of firms.”
Dana Peterson, chief economist at The Conference Board, said the latest batch of economic data — including a slowdown in US jobless claims — showed the kind of cognitive dissonance investors have been grappling with as “typically when you have recessions, the labor market collapses with GDP, and we’re not seeing that.”
“We’re probably going to dip into a recession, maybe starting right now in the second quarter, but we really need to see data,” she said. “Our leading indicators index suggests that it’s starting to happen now, and consumers and CEOs have been anticipating recession for some time.”
In Europe, the Stoxx 600 Index was little changed after earlier fluctuations. Sanofi’s profit topped estimates while Deutsche Bank AG dropped after trading revenue disappointed.
Elsewhere, oil fluctuated after a Wednesday fall.
The dollar was little changed.
And Bitcoin resumed an advance.

Stocks
* The S&P 500 rose 2% as of 4:01 p.m. New York time
* The Nasdaq 100 rose 2.8%
* The Dow Jones Industrial Average rose 1.6%
* The MSCI World index fell 0.3%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro fell 0.2% to $1.1024
* The British pound rose 0.2% to $1.2491
* The Japanese yen fell 0.2% to 133.90 per dollar
Cryptocurrencies
* Bitcoin rose 4.4% to $29,661.75
* Ether rose 3% to $1,923.57
Bonds
* The yield on 10-year Treasuries advanced seven basis points to
3.52%
* Germany’s 10-year yield advanced six basis points to 2.46%
* Britain’s 10-year yield advanced six basis points to 3.79%
Commodities
* West Texas Intermediate crude rose 0.7% to $74.85 a barrel
* Gold futures were little changed
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Emily Graffeo, Cecile Gutscher, Richard Henderson, Anchalee Worrachate and Edward Bolingbroke.

Have a lovely evening.

Be magnificent!
As ever,

Carolann
If you think nobody cares about you, try missing a couple of payments. –Steven Wright, b.1955.

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 April 26, 1986, the world’s worst nuclear accident occurred at the Chernobyl plant in the Soviet Union. An explosion and fire in the No. 4 reactor sent radioactivity into the atmosphere; at least 31 Soviets died immediately. Go to article >

April 26, 1937: Massacre, Guernica Spain.
Charles Richter, scientist, b. 1900.
John James Audubon, b.1785.

Adele cries with James Corden on the final ‘Carpool Karaoke’.  Very few people can belt heart-wrenching ballads quite like Adele — but James Corden comes in a close second. Watch the video here.

Harry Belafonte, the dashing singer, actor and social activist, died Tuesday, his publicist told CNN. He was 96.

What’s on the menu for the White House state dinner tonight?  These decadent dishes will be served at the elaborate state dinner, traditionally one of the most glamorous events hosted at the White House.

Mattel introduces Barbie doll representing a person with Down syndrome.  The company said it closely worked with the National Down Syndrome Society on the doll’s shape, features and clothing to ensure that it accurately represents a person with Down syndrome.

Disastrous SpaceX launch under federal investigation after raining potentially hazardous debris on homes and beaches
The Federal Aviation Administration is investigating the April 20 launch of SpaceX’s Starship amid claims the launch smashed windows and rained ash on the habitats of endangered animals. Read More

2,600-year-old stone busts of ‘lost’ ancient Tartessos people discovered in sealed pit in Spain
Archaeologists in Spain recently discovered five life-size busts of human figures depicting the lost Tartessos civilization. Read More

Newly discovered jellyfish is a 24-eyed weirdo related to the world’s most venomous marine creature
Researchers named the newfound species Tripedalia maipoensis, after Mai Po Nature Reserve in Hong Kong, where they discovered the transparent critter. Read More

PHOTOS OF THE DAY

Lingjiaohu, China
A farmer harvests lotus roots at a pond in Nanxian County
Photograph: Xinhua/Shutterstock

A real-life Rothko
‘A cruise ship leaving Monaco as the sun sets. Taken with a zoom lens from home in Roquebrune-Cap-Martin, France. The colours have not been adjusted.’
Photograph: Richard McCreery

Shimmering shoreline
‘Photo taken of Dunstanburgh Castle, Northumberland. Taken on the path from Craster.’
Photograph: Keith Fenwick
Market Closes for April 26^th, 2023

Market Index	Close	Change
Dow Jones	33301.87	-228.96
		-0.68%
S&P 500	4055.99	-15.64
		-0.38%
NASDAQ	11854.35	+55.19
		+0.47%
TSX	20366.72	-73.15
		-0.36%

International Markets

Market Index	Close	Change
NIKKEI	28416.47	-203.60
		-0.71%
HANG SENG	19757.27	+139.39
		+0.71%
SENSEX	60300.58	+169.87
		+0.28%
FTSE 100*	7852.64	-38.49
		-0.49%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	2.860	2.804
CND. 30 Year Bond	2.978	2.918
U.S.    10 Year Bond	3.4485	3.3977
U.S. 30 Year Bond	3.7022	3.6525

Currencies

BOC Close	Today	Previous
Canadian $	0.7335	0.7339
US $	1.3633	1.3626
Euro Rate 1 Euro=		Inverse
Canadian $	1.5051	0.6644
US  $	1.1039	0.9059

Commodities

Gold	Close	Previous
London Gold Fix	1987.40	1978.20
Oil
WTI Crude Future	74.30	77.07

Market Commentary:
📈 On this day in 1973, the Chicago Board Options Exchange opened for trading, with call options available on 16 U.S. common stocks.  For the first time, stock options were listed on a dedicated exchange and registered for trading in standardized form.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell for the third day, dropping 0.4%, or 73.15 to 20,366.72 in Toronto.
The index dropped to the lowest closing level since April 10.
Canadian Pacific Kansas City Ltd. contributed the most to the index decline, decreasing 2.2%.
TFI International Inc. had the largest drop, falling 11.3%.
Today, 155 of 232 shares fell, while 74 rose; 6 of 11 sectors were lower, led by industrials stocks.
Insights
* This month, the index rose 1.3%
* The index declined 1.6% in the past 52 weeks. The MSCI AC Americas Index lost 3.7% in the same period
* The S&P/TSX Composite is 4% below its 52-week high on May 4, 2022 and 14% above its low on Oct. 13, 2022
* The S&P/TSX Composite is down 1.5% in the past 5 days and rose 4.4% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.3 on a trailing basis and 13.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.26t
* 30-day price volatility fell to 8.61% compared with 10.03% in the previous session and the average of 11.87% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Industrials | -45.3157| -1.6| 4/22
Energy | -36.9502| -1.1| 8/32
Utilities | -7.1000| -0.8| 2/14
Materials | -5.5977| -0.2| 15/34
Real Estate | -3.5432| -0.7| 2/19
Health Care | -0.6202| -0.9| 2/4
Consumer Discretionary | 2.1916| 0.3| 9/6
Consumer Staples | 2.4014| 0.3| 5/6
Communication Services | 2.9449| 0.3| 3/2
Financials | 6.8692| 0.1| 17/12
Information Technology | 11.5615| 0.9| 7/4
================================================================
| | |Volume VS| YTD
|Index Points | | 20D AVG | Change
Top Contributors | Move | % Change | (%) | (%)
================================================================
Canadian Pacific Kansas | -15.5800| -2.2| -7.2| 4.7
Brookfield Corp | -10.3200| -2.4| 24.8| -0.8
Canadian National | -10.0800| -1.5| 15.2| -1.0
RBC | 4.5250| 0.4| 47.0| 3.9
Teck Resources | 7.4780| 4.1| 1.5| 21.1
CGI Inc | 7.9730| 4.1| 39.0| 18.4
US
By Cristin Flanagan and Peyton Forte
(Bloomberg) — US stocks ended lower as fresh concerns about the health of American regional lenders dragged down bank shares, even as big-tech earnings helped support broader sentiment.
The S&P 500 retreated 0.4% as First Republic Bank’s woes deepened Wednesday.
The US regional bank plunged 30% in another volatile session after it was said to face potential curbs on borrowing from the Federal Reserve.
Treasuries fell after an auction, with US lawmakers expected to vote on a debt ceiling bill in the early evening.
Meanwhile, PacWest Bancorp offered a glimmer of hope that First Republic doesn’t portend trouble for the broader sector.
Its shares rose 7.5% amid signs of recovery in its deposit levels.
The losses came as the tech-heavy Nasdaq 100 rose 0.6% after Google parent Alphabet Inc. and Microsoft Corp. both beat first-quarter earnings expectations late on Tuesday.
Alphabet ended trading little changed, while Microsoft rose 7.2%, even as the UK separately vetoed a takeover of Activision Blizzard Inc.
Tech stocks were also higher post-market Wednesday following an earnings beat by Meta Platforms Inc.
A run on deposits at First Republic has raised questions about the effect of the Federal Reserve’s aggressive rate hikes on US lenders and what the central bank can do to stop a bank crisis from spreading. Some market participants have speculated the tightening cycle may end sooner than expected, though inflation remains high.
The Fed’s preferred measure of inflation, the so-called PCE deflator, is due Friday.
“Up to this point Fed officials have taken substantial comfort from indications that acute [bank] stress was contained and there was no immediate sudden stop to bank credit,” Krishna Guha, Evercore ISI’s head of central bank strategy, wrote. “That is a bit less firmly locked now, and we cannot rule out the possibility developments around First Republic could unfold in a manner that would lead the FOMC to skip [raising rates in] May while signaling a hike in June.”
In Europe, the regional stock benchmark declined 0.8% amid disappointing earnings.
Software producer Dassault Systemes sank after missing revenue estimates.  
Dutch chip-tool maker ASM International slumped after offering a tepid outlook for the rest of the year.
Roche Holding AG retreated even as its first-quarter sales exceeded expectations.
Meanwhile, beats from Standard Chartered Plc and Sweden’s SEB AB failed to bolster sentiment.
“The markets are very much focused on some of the earnings story, but possibly overlooking the weight of economic deceleration that is playing through right now, particularly in the United States,”
John Woods, Asia Pacific chief investment  officer at Credit Suisse Group AG, said on Bloomberg Television.
“I’m looking at a whole range of technical signals, which seem to be suggesting a risk-off environment.”
Looking ahead, Tony Welch of SignatureFD said he expects tech earnings to continue to shine.
“We always have to think about what the market has priced relative to expectations,” he said. “Throughout the first quarter of the year, the market was starting to price in, ‘Okay, things aren’t as bad for big tech as what we thought they were.  They’re going to be able to preserve profit margins better than we thought they were.’ I suspect you’re going to see a decent beat rate among those names.”
Elsewhere in markets, oil fell, gold slid, and Bitcoin pared an advance.

Some of the main moves in markets:
Stocks
* The S&P 500 fell 0.4% as of 4 p.m. New York time
* The Nasdaq 100 rose 0.6%
* The Dow Jones Industrial Average fell 0.7%
* The MSCI World index fell 1.3%
Currencies
* The Bloomberg Dollar Spot Index fell 0.2%
* The euro rose 0.6% to $1.1035
* The British pound rose 0.4% to $1.2463
* The Japanese yen was little changed at 133.64 per dollar
Cryptocurrencies
* Bitcoin fell 0.6% to $27,809.64
* Ether fell 2.1% to $1,821.25
Bonds
* The yield on 10-year Treasuries advanced four basis points to 3.44%
* Germany’s 10-year yield advanced one basis point to 2.40%
* Britain’s 10-year yield advanced three basis points to 3.73%
Commodities
* West Texas Intermediate crude fell 3.6% to $74.27 a barrel
* Gold futures fell 0.3% to $1,997.60 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Michael Msika, Tassia Sipahutar, Sujata Rao and Robert Brand.
Have a  lovely evening.

Be magnificent!
As ever,

Carolann

We cannot be just unless we are kind. –Luc de Clapiers, Marquis de Vauvenargues,1715-1747.
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: Anzac Day, Australia, New Zealand.

1959: The St. Lawrence Seaway opened to shipping. Go to article >
1974: In Portugal, the fascist Estado Novo is overthrown in a bloodless coup.  The leftist Carnation Revolution was led by military officers and supported by widespread civil resistance.

1901: First license plates issued.
1915: Battle of Gallipoli.
Ella Fitzgerald, b.1917.

‘Lost’ 2nd-century Roman fort discovered in Scotland
Archaeologists have discovered the foundations of a “lost” Roman fort in western Scotland — part of an ill-fated effort to extend the empire’s control throughout Britain. Read More.

Will Earth ever lose its moon?
The moon is creeping slowly away from Earth. So will Earth lose its moon at some point? Read More

‘Dripping’ watch has become a cult celebrity favorite.  This unique watch has a dripping shape that looks more like one of Salvador Dalí’s surrealist melting clocks than a celebrity timepiece.

French fries may be bringing you down.  Researchers found that frequent consumption of fried foods, especially fried potatoes, is linked to an increased likelihood of anxiety and depression

PHOTOS OF THE DAY

Rome, Italy
Cuirassier presidential guards descend the steps of the tomb of the Unknown Warrior during a ceremony on Liberation Day, which commemorates the Italian resistance movement’s victory during the second world war
Photograph: Gregorio Borgia/AP

London, UK
A pod of the London Eye that has been transformed into a miniature version of Westminster Abbey before the coronation of King Charles III. Visitors to the capsule will have the chance to sit on the pod’s coronation chair and hold replicas of the crown jewels
Photograph: Jordan Pettitt/PA

Frankfurt, Germany
Two Canada goose chicks on the banks of the Main River
Photograph: Frank Rumpenhorst/AP
Market Closes for April 25^th, 2023

Market Index	Close	Change
Dow Jones	33530.83	-344.57
		-1.02%
S&P 500	4071.63	-65.41
		-1.58%
NASDAQ	11799.16	-238.04
		-1.98%
TSX	20439.87	-236.87
		-1.15%

International Markets

Market Index	Close	Change
NIKKEI	28620.07	+26.55
		+0.09%
HANG SENG	19617.88	-342.06
		-1.71%
SENSEX	60130.71	+74.61
		+0.12%
FTSE 100*	7891.13	-21.07
		-0.27%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	2.804	2.911
CND. 30 Year Bond	2.918	3.007
U.S.    10 Year Bond	3.3977	3.4977
U.S. 30 Year Bond	3.6525	3.7119

Currencies

BOC Close	Today	Previous
Canadian $	0.7339	0.7386
US $	1.3626	1.3539
Euro Rate 1 Euro=		Inverse
Canadian $	1.4952	0.6688
US  $	1.0974	0.9112

Commodities

Gold	Close	Previous
London Gold Fix	1978.20	1973.65
Oil
WTI Crude Future	77.07	78.76

Market Commentary:
📈 On this day in 1874, Guglielmo Marconi, son of an aristocratic Italian father and an Irish mother, was born in Bologna, Italy. In 1901 he sent the first radio signals across the Atlantic, ushering in the era of wireless communication.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 1.1%, or 236.87 to 20,439.87 in Toronto.
The move was the biggest since falling 1.6% on March 15.
Today, financials stocks led the market lower, as 10 of 11 sectors lost; 178 of 232 shares fell, while 52 rose.
Canadian National Railway Co. contributed the most to the index decline, decreasing 4.0%.
Hudbay Minerals Inc. had the largest drop, falling 6.3%.
Insights
* This month, the index rose 1.7%
* The index declined 2.7% in the past 52 weeks. The MSCI AC Americas Index lost 6.1% in the same period
* The S&P/TSX Composite is 3.6% below its 52-week high on May 4, 2022 and 14.4% above its low on Oct. 13, 2022
* The S&P/TSX Composite is down 1.2% in the past 5 days and rose 4.8% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.3 on a trailing basis and 13.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.3t
* 30-day price volatility rose to 10.03% compared with 9.27% in the previous session and the average of 12.03% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -102.9457| -1.7| 6/23
Industrials | -51.2915| -1.8| 3/24
Energy | -31.4912| -0.9| 8/32
Information Technology| -21.5516| -1.6| 0/12
Materials | -10.8528| -0.4| 18/31
Consumer Discretionary| -8.6976| -1.2| 1/14
Consumer Staples | -6.6755| -0.8| 0/11
Real Estate | -3.0984| -0.6| 2/19
Health Care | -1.4967| -2.1| 1/4
Communication Services| -1.4189| -0.2| 2/3
Utilities | 2.6610| 0.3| 11/5
================================================================
| | |Volume VS| YTD
|Index Points| | 20D AVG | Change
Top Contributors | Move |% Change | (%) | (%)
================================================================
Canadian National | -28.0200| -4.0| 139.3| 0.5
TD Bank | -20.3800| -2.0| -44.8| -7.5
Brookfield Corp | -18.6600| -4.2| -2.9| 1.7
Franco-Nevada | 3.4230| 1.3| -31.8| 12.9
Barrick Gold | 3.6720| 1.2| -31.8| 12.6
TC Energy | 4.3850| 1.1| -59.1| 2.8
US
By Isabelle Lee, Peyton Forte and Carly Wanna
(Bloomberg) — US stocks dropped the most in two months and Treasury yields retreated after First Republic Bank’s disappointing earnings and potential assets sale rekindled worries that the banking crisis has not run its course.
The S&P 500 lost 1.6% Tuesday, with First Republic’s 49% plunge taking the lender’s shares to a record low.
Bloomberg News reported the troubled bank, which saw greater-than-expected withdrawals in the first quarter, is exploring divesting up to $100 billion of long-dated mortgages and securities as part of a
broader rescue plan.
The two-year Treasury yield tumbled to 3.94% as investors sought the safety of US government debt.
Meanwhile, tech stocks rallied in after-hours trading with Microsoft Corp. and Alphabet Inc. higher after better-than-expected earnings.
The Federal Reserve is still expected to raise interest rates by a quarter percentage point when it meets next week, though signs are mounting that the American economy is starting to sputter after a year of aggressive tightening.
Data Tuesday showed consumer confidence slipped, while two regional Fed manufacturing reports underwhelmed.
“US regional banks still face headwinds, and signs of stress in the system have not fully subsided,” Ken McAtamney, portfolio manager and head of William Blair’s Global Equity team, wrote.
But despite the instability in the financial sector, “the US Federal Reserve and global central banks remain vigilant in their fight against inflation.”
Among other US companies reporting earnings Tuesday:
* UBS Group AG slid after results fell short
* Spotify Technology SA rose 5.1% after adding subscribers
* 3M Co. was little changed after announcing a restructuring push
* General Electric Co. declined 1.7% after raising forecasts
* McDonald’s Corp. was little changed after beating sales estimates
* Danaher Corp. dropped 8.8% after lowering full-year guidance

“The sugar high from the Covid stimulus has ended. Now companies are having to contend with a more challenging economic environment following a big batch of Fed rate hikes,” Kelly Bogdanova, vice president and portfolio analyst at RBC Wealth Management, said in an interview. “From our perspective, we’re staring an earnings recession in the face.”
The market is now pricing a peak for US interest rates in June, followed by a cut to below 4.5% by year end.
The 10-year Treasury yield continued its slide to 3.40% — dipping well below its 200-day moving average.
“Investors need to spend a little more time using common sense … and adjust their portfolios to the reality that a soft landing in the economy this year is a pipe dream,” wrote Matt Maley, chief market strategist at Miller Tabak + Co, in a morning note.
There’s a growing consensus a recession is near, especially with signs of a credit crunch in results from First Republic and UBS, Maley said. “When was the last time a material contraction in credit did not result in a recession? The answer: Never!” he wrote.
A Bloomberg gauge of the dollar climbed.
The Stoxx Europe 600 index dropped 0.4%.
Oil fell, gold was little changed, iron ore extended a losing streak to a fifth day, and Bitcoin slid for a third day.
Key events this week:
* Australia CPI, Wednesday
* Sweden rate decision, Wednesday
* Eurozone economic, consumer confidence, Thursday
* US initial jobless claims, GDP, Thursday
* Bank of Japan meets on interest rates, Friday
* Euro-area GDP, Friday
* US personal income, Friday

Earnings highlights:
* Wednesday: Boeing, Meta, Hilton
* Thursday: Amazon, American Airlines, Intel, Mastercard, Southwest Airlines, Hershey, Honeywell, Barclays

Some of the main moves in markets:
Stocks
* The S&P 500 fell 1.6% as of 4 p.m. New York time
* The Nasdaq 100 fell 1.9%
* The Dow Jones Industrial Average fell 1%
* The MSCI World index was little changed
Currencies
* The Bloomberg Dollar Spot Index rose 0.4%
* The euro fell 0.7% to $1.0970
* The British pound fell 0.7% to $1.2403
* The Japanese yen rose 0.5% to 133.51 per dollar
Cryptocurrencies
* Bitcoin rose 0.6% to $27,626.28
* Ether fell 0.1% to $1,837.86
Bonds
* The yield on 10-year Treasuries declined 11 basis points to 3.38%
* Germany’s 10-year yield declined 12 basis points to 2.38%
* Britain’s 10-year yield declined nine basis points to 3.69%
Commodities
* West Texas Intermediate crude fell 2.2% to $77.05 a barrel
* Gold futures rose 0.5% to $2,009.20 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Emily Graffeo, Robert Brand, Tassia Sipahutar, Sujata Rao and Subrat Patnaik.

Have a lovely evening.

Be magnificent!
As ever,

Carolann
Adapt or perish, now as ever, is Nature’s inexorable imperative. -H.G. Wells, 1866-1946.

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 Monday.
April 24, 1962: The Massachusetts Institute of Technology achieved the first satellite relay of a television signal.  MIT worked with the US Air Force to use the Echo 1 communications satellite to send itself a message – pinging the image from one of the institute’s national security research labs in California to a receiver 2,700 miles away in Massachusetts. Go to article >  

1898: Spain declares war on U.S.
1800: library of Congress established.

Barbara Streisand, b. 1942.
Shirley MacLaine, b. 1934.

3,300-year-old ancient Egyptian tombs and chapel with ‘amazing’ decorations unearthed at Saqqara
Newfound tombs from ancient Egypt at Saqqara include the burials of a temple overseer, royal treasury artist and an unknown individual. Read More.

Scientists find weird holes on the ocean floor spewing ancient fluids ‘like a fire hose’
Holes spewing warm fluids from the boundary between tectonic plates have been discovered at the bottom of the ocean off the coast of Oregon. Read More

Does it matter what time of day you get cancer treatment?
The emerging field of “cancer chronotherapy” hints that it may be best to receive cancer treatment at a particular time of day. Read More.

Professional skier falls into a seemingly endless crevasse.  Watch this skier’s terrifying descent in the French Alps. He’s lucky to have escaped alive …

This ancient Roman bust was purchased at a Texas Goodwill.  A 2,000-year-old Roman bust, purchased for only $34.99 at a Texas Goodwill, is headed to Germany to be properly preserved. Take look at the epic find.

Ima Keithel: The world’s largest women-run market.  Step inside the largest women-only market in the world located in India’s northeastern state of Manipur.

A stunning solar storm. (h/t Ellen Kominers)

PHOTOS OF THE DAY

Wehrheim, Germany
Icelandic stallions stand in their paddock at a stud farm near Frankfurt
Photograph: Michael Probst/AP

North Tyneside, UK
Waves crash over Tynemouth pier on the north-east coast of England
Photograph: Owen Humphreys/PA

Hobart, Tasmaia
Aurora Australis seen in the early morning
Photograph: Bruce Cooper
Market Closes for April 24^th, 2023

Market Index	Close	Change
Dow Jones	33875.40	+66.44
		+0.20%
S&P 500	4137.04	+3.52
		+0.09%
NASDAQ	12037.20	-35.26
		-0.29%
TSX	20676.74	-16.41
		-0.08%

International Markets

Market Index	Close	Change
NIKKEI	28593.52	+29.15
		+0.10%
HANG SENG	19959.94	-115.79
		-0.58%
SENSEX	60056.10	+401.04
		+0.67%
FTSE 100*	7912.20	-1.93
		-0.02%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	2.911	2.936
CND. 30 Year Bond	3.007	3.033
U.S.    10 Year Bond	3.4977	3.5718
U.S. 30 Year Bond	3.7119	3.7757

Currencies

BOC Close	Today	Previous
Canadian $	0.7386	0.7367
US $	1.3539	1.3574
Euro Rate 1 Euro=		Inverse
Canadian $	1.4954	0.6687
US  $	1.1045	0.9054

Commodities

Gold	Close	Previous
London Gold Fix	1973.65	2007.15
Oil
WTI Crude Future	78.76	77.87

Market Commentary:
📈 On this day in 1990, Michael Milken, former king of the junk-bond underwriting business, pleaded guilty to violating securities laws. He was later sentenced to ten years in federal prison but was released early for good behavior.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite declined slightly to  20,676.74 in Toronto.
The move follows the previous session’s increase of 0.3%.
Shopify Inc. contributed the most to the index decline, decreasing 1.9%.
Converge Technology Solutions Corp. had the largest drop, falling 3.9%.
Today, 106 of 232 shares fell, while 124 rose; 6 of 11 sectors were lower, led by financials stocks.
Insights
* This month, the index rose 2.9%
* The index declined 2.4% in the past 52 weeks. The MSCI AC Americas Index lost 4.1% in the same period
* The S&P/TSX Composite is 4.2% below its 52-week high on April 22, 2022 and 15.7% above its low on Oct. 13, 2022
* The S&P/TSX Composite is little changed in the past 5 days and rose 6% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.4 on a trailing basis and 13.8 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.3t
* 30-day price volatility fell to 9.27% compared with 9.85% in the previous session and the average of 12.12% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -34.8495| -0.6| 10/19
Information Technology | -11.9221| -0.9| 2/10
Real Estate | -1.4310| -0.3| 5/16
Communication Services | -1.0015| -0.1| 2/3
Industrials | -0.3154| 0.0| 13/13
Health Care | -0.2823| -0.4| 3/3
Consumer Staples | 0.6310| 0.1| 5/6
Consumer Discretionary | 1.7969| 0.2| 9/6
Utilities | 1.8143| 0.2| 8/8
Materials | 6.3596| 0.2| 33/16
Energy | 22.7916| 0.6| 34/6
================================================================
| | |Volume VS| YTD
|Index Points | | 20D AVG | Change
Top Contributors | Move | % Change | (%) | (%)
================================================================
Shopify | -10.3900| -1.9| -18.1| 38.3
TD Bank | -10.3800| -1.0| -16.8| -5.6
Waste Connections | -6.8090| -1.9| 82.5| 7.3
Cenovus Energy | 4.7040| 2.1| -5.9| -8.0
Canadian Natural Resources | 6.3090| 1.0| -32.1| 8.8
Canadian National | 7.3420| 1.0| 41.9| 4.6
US
By Vildana Hajric and Isabelle Lee
(Bloomberg) — US equities drifted at the start of a week packed with corporate earnings and economic data that may help illuminate the Federal Reserve’s path for interest rates.
The S&P 500 was little changed and the Nasdaq 100 shed 0.2% as manufacturing data arrived weaker than forecast and Treasury yields fell amid debt ceiling drama.
Shares of Bed Bath & Beyond Inc. declined on plans to shutter all its stores.
Meanwhile, the dollar was weaker against major peers, and oil rose.
“Investors are trying to look though all the economic data points as well as earnings comments to discern how the Fed is likely to move,” Paul Nolte, a senior wealth manager at Murphy & Sylvest Wealth Management, wrote in a note.
First Republic Bank fell in post market trading on an earnings beat but lower than expected deposits.
The bank said its pursuing strategic options.
And up next, Microsoft Corp., Meta Platforms Inc. and Amazon.com Inc. will be reporting results later in the week.
US GDP data is forecast to reveal slowing growth, and the so-called core PCE deflator, the Fed’s preferred inflation gauge, is expected to show price growth cooled.
Swaps markets continue to see interest rates peaking in the coming weeks before a series of cuts later in the year.
But, not everyone holds this view.
Leveraged investors boosted net short positions on 10-year Treasury futures to a record this month, data from the Commodity Futures Trading Commission show.
That indicates they think Fed officials will keep raising rates to tackle inflation.
“Economic data continues to deny investors an obvious growth or policy signal. Demand isn’t falling fast enough to signal an imminent recession, but there are no indications of a reacceleration,” Dennis Debusschere at 22V Research wrote.
The yield on the US 10-year note fell six basis points and ended around 3.51%, testing its 200-day moving average.
In Europe, UBS Group AG climbed after takeover target Credit Suisse AG reported outflows that were lower than some expected.
The Stoxx Europe 600 was little changed.
Elsewhere, the new Bank of Japan Governor Kazuo Ueda will hold his first policy meeting this week.
The bank is expected to soon start its policy review of the past decades.

Key events this week:
* US new home sales, consumer confidence, Tuesday
* South Korea GDP, Tuesday
* Australia CPI, Wednesday
* Sweden rate decision, Wednesday
* Eurozone economic, consumer confidence, Thursday
* US initial jobless claims, GDP, Thursday
* Bank of Japan meets on interest rates, Friday
* Euro-area GDP, Friday
* US personal income, Friday

Earnings highlights:
* Tuesday: Pepsi, General Motors, General Electric, McDonalds, Microsoft, UBS, UPS
* Wednesday: Boeing, Meta, Hilton
* Thursday: Amazon, American Airlines, Intel, Mastercard, Southwest Airlines, Hershey, Honeywell, Barclays

Some of the main moves in markets:
Stocks
* The S&P 500 was little changed as of 4 p.m. New York time
* The Nasdaq 100 fell 0.2%
* The Dow Jones Industrial Average rose 0.2%
* The MSCI World index was little changed
Currencies
* The Bloomberg Dollar Spot Index fell 0.2%
* The euro rose 0.5% to $1.1043
* The British pound rose 0.4% to $1.2482
* The Japanese yen fell 0.1% to 134.31 per dollar
Cryptocurrencies
* Bitcoin fell 0.5% to $27,375.96
* Ether fell 1% to $1,830.4
Bonds
* The yield on 10-year Treasuries declined six basis points to 3.51%
* Germany’s 10-year yield advanced three basis points to 2.51%
* Britain’s 10-year yield advanced two basis points to 3.78%
Commodities
* West Texas Intermediate crude rose 1.1% to $78.76 a barrel
* Gold futures rose 0.4% to $1,999 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Robert Brand, Carly Wanna and Emily Graffeo.
Have a lovely evening.

Be magnificent!
As ever,

Carolann

It is wisdom that is seeking for wisdom. –Shunryu Suzuki, 1904-1971.
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.

April 21, 1980:  Rosie Ruiz, the first woman to cross the finish line at the Boston Marathon, was disqualified when officials discovered she had jumped into the race about a mile from
the finish. Go to article >

Ramadan ends today with the arrival of Eid al-Fitr.  For many Muslims, today brings the end of Ramadan, the Islamic holy month of fasting. The conclusion of the 30-day fast is celebrated with delicious feasts around the world.

Man loses it on plane over crying baby.  A passenger threw a total fit over a crying baby on his flight. Watch the meltdown here.

Ikea announces $2 billion expansion in the US.  The retailer is making its biggest-ever investment in a single country with several new stores set to open in the US over the next three years.

Cities keep building luxury apartments almost no one can afford.

2,000-year-old hoard of Roman coins may have been hidden by a soldier during a bloody civil war in Italy
A hoard of 175 silver coins unearthed in a forest in Italy may have been buried for safe keeping during a Roman civil war. Read More

Ancient princesses helped build vast warrior empire that prompted China to erect the Great Wall
Elite women, perhaps princesses, played a crucial role in holding the Xiongnu, one of the first nomadic empires of the eastern Eurasian Steppe, together, a new study suggests. Read More

See Venus and the moon dance with the ‘Seven Sisters’ during the Lyrid meteor shower Saturday
Stargazers are set for a spectacular show this Saturday (April 22), as the moon and Venus will appear as if they are about to collide amid a meteor shower. Read More
PHOTOS OF THE DAY

London, UK
A demonstrator at Extinction Rebellion’s The Big One event
Photograph: Henry Nicholls/Reuters

New York, US
De’Anthony Melton of the Philadelphia 76ers goes to the basket as Royce O’Neale of the Brooklyn Nets looks on during the second half of game three of the Eastern Conference first round playoffs at Barclays Center, New York on 20 April. The 76ers won 102-97
Photograph: Sarah Stier/Getty Images

The week in wildlife
A female robin (Erithacus rubecula) collects moss for nesting material in a residential garden on a spring day in south-west London, UK
Photograph: WIktor Szymanowicz/NurPhoto/Shutterstock
Market Closes for April 21^st, 2023

Market Index	Close	Change
Dow Jones	33808.96	+22.34
		+0.07%
S&P 500	4133.52	+3.73
		+0.09%
NASDAQ	12072.46	+12.90
		+0.11%
TSX	20693.15	+62.46
		+0.30%

International Markets

Market Index	Close	Change
NIKKEI	28564.37	-93.20
		-0.33%
HANG SENG	20075.73	-321.24
		-1.57%
SENSEX	59655.06	+22.71
		+0.04%
FTSE 100*	7914.13	+11.52
		+0.15%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	2.936	2.974
CND. 30 Year Bond	3.033	3.067
U.S.    10 Year Bond	3.5718	3.5375
U.S. 30 Year Bond	3.7757	3.7481

Currencies

BOC Close	Today	Previous
Canadian $	0.7367	0.7418
US $	1.3574	1.3481
Euro Rate 1 Euro=		Inverse
Canadian $	1.5031	0.6653
US  $	1.1074	0.9030

Commodities

Gold	Close	Previous
London Gold Fix	2007.15	1990.55
Oil
WTI Crude Future	77.87	77.29

Market Commentary:
📈 On this day in 1982, futures contracts on the S&P 500 index became available for the first time, traded in the pits of the Chicago Mercantile Exchange. Arbitrageurs and index fund managers could buy either the underlying stocks in the index, or a futures contract, whichever was cheaper. Program traders also bet on the futures, and helped worsen the October crash of 1987.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose 0.3% at 20,693.15 in Toronto.
The move was the biggest since rising 0.5% on April 13 and follows the previous session’s decrease of 0.2%.
Shopify Inc. contributed the most to the index gain, increasing 2.7%.
Canada Goose Holdings Inc. had the largest increase, rising 4.0%.
Today, 124 of 232 shares rose, while 97 fell; 9 of 11 sectors were higher, led by industrials stocks.
Insights
* This month, the index rose 3%
* So far this week, the index rose 0.6%
* The index declined 4.4% in the past 52 weeks. The MSCI AC Americas Index lost 6.8% in the same period
* The S&P/TSX Composite is 6.3% below its 52-week high on April 21, 2022 and 15.8% above its low on Oct. 13, 2022
* S&P/TSX Composite is trading at a price-to-earnings ratio of  13.4 on a trailing basis and 13.8 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.29t
* 30-day price volatility fell to 9.85% compared with 11.10% in the previous session and the average of 12.21% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Industrials | 23.4058| 0.8| 18/9
Information Technology | 23.1932| 1.7| 8/3
Consumer Staples | 11.3136| 1.3| 10/1
Utilities | 7.5290| 0.8| 13/2
Financials | 6.5516| 0.1| 15/13
Communication Services | 6.2525| 0.7| 3/2
Consumer Discretionary | 5.2835| 0.7| 9/6
Real Estate | 2.3725| 0.5| 17/4
Energy | 1.3439| 0.0| 19/16
Health Care | -0.1860| -0.3| 2/2
Materials | -24.6083| -0.9| 10/39
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
Shopify | 14.2900| 2.7| 35.2| 41.0
Canadian Pacific | | | |
Kansas | 8.0140| 1.1| 29.4| 9.0
RBC | 5.2960| 0.4| 45.4| 6.3
Bank of Nova Scotia| -4.9670| -0.9| -10.8| 2.8
Nutrien | -5.4580| -1.6| -22.7| -3.3
First Quantum Minerals | -7.9120| -6.0| 10.8| 12.0
US
By Sujata Rao
(Bloomberg) — Stocks edged higher amid mixed corporate earnings and as traders parsed the latest data for clues on the outlook for inflation, economic growth and the Federal Reserve’s policy path.
The S&P 500 swung between small gains and losses throughout the session.
Treasury two-year yields, which are more sensitive to imminent Fed decisions, rose to around 4.2%.
The dollar was steady.
US business activity unexpectedly climbed to nearly a one-year high, risking more inflation.
The S&P Global flash April composite purchasing managers index rose 1.2 points to 53.5 – the highest since May.
“If economic conditions hold up, the Fed may be emboldened to tighten policy more than current market expectations – a headwind to equities in our view,” wrote Mike Gibbs, managing director of equity portfolio and technical strategy at Raymond James. “If economic conditions deteriorate, we do believe the Fed will ease monetary policy – but economic volatility is also likely to correspond with market  volatility.”
All that results in a range-bound view on equities for now, Gibbs added.
Corporate highlights:
* Tesla Inc. increased prices of its Model S and X vehicles in the US after steep markdowns early this year took a toll on profitability and the carmaker’s shares.
* Regions Financial Corp. reported a drop in total deposits for the first quarter to $129.04 billion.
* Procter & Gamble Co. raised its sales projection for the fiscal year ending in June, citing higher prices and a slight increase in demand for some of its products.
* SLB, the world’s biggest oil-services provider, posted its best first-quarter profit in eight years.
* Freeport-McMoRan Inc. churned out more copper than expected in the first quarter in a boost to tight global supplies, although the top publicly traded supplier trimmed annual sales guidance.

“We are at the beginning of earnings season, and the beginnings of the past four earnings seasons have coincided with strong stock market performance,” wrote Carol Schleif, chief investment officer at BMO Family Office. “We are not convinced that trend will continue. We expect stocks to remain in a tight trading range for some time.”
Some of the main moves in markets:
Stocks
* The S&P 500 was little changed as of 4 p.m. New York time
* The Nasdaq 100 rose 0.1%
* The Dow Jones Industrial Average was little changed
* The MSCI World index was little changed
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro rose 0.2% to $1.0990
* The British pound was little changed at $1.2444
* The Japanese yen rose 0.1% to 134.08 per dollar
Cryptocurrencies
* Bitcoin fell 3.3% to $27,270.58
* Ether fell 4.9% to $1,842.26
Bonds
* The yield on 10-year Treasuries advanced four basis points to 3.57%
* Germany’s 10-year yield advanced four basis points to 2.48%
* Britain’s 10-year yield declined one basis point to 3.76%
Commodities
* West Texas Intermediate crude rose 0.5% to $77.76 a barrel
* Gold futures fell 1.3% to $1,993.20 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Carly Wanna, Isabelle Lee, Angel Adegbesan and Peyton Forte.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann
There is no security on this earth.  Only opportunity. –General Douglas MacArthur, 1880-1964.

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 Eve.
April 20, 1862: The first pasteurization test is completed by Frenchmen Louis Pasteur and Claude Bernard.  This process involved heating milk to a particular temperature for a set amount of time in order to remove microorganisms.
April 20, 2010 An explosion on the Deepwater Horizon oil platform, leased by BP, killed 11 workers and began spewing an estimated 200 million gallons of crude into the Gulf of Mexico
for nearly three months.  Go to article > 

Out-of-control defunct NASA satellite will smash into Earth today
A defunct, 660-pound (300 kilograms) NASA satellite is set to tumble uncontrollably back to Earth after spending two decades studying the sun from our orbit. Read More.

Epic 11-foot-tall sea level rise drove Vikings out of Greenland
The Vikings are remembered as fierce fighters, but even these mighty warriors were no match for climate change. Scientists recently found that ice sheet growth and sea level rise led to massive coastal flooding that inundated Norse farms and ultimately drove the Vikings out of Greenland in the 15th century. Read More.

Kaleidoscopic image of a mouse’s brain is 64 million times sharper than a typical MRI
Scientists recently boosted the resolution of magnetic resonance imaging (MRI) to 64 million times higher than normal. They used the technique to take captivating, high-definition images of a mouse brain, showing the organ like never before. Read More.

Extremely rare albino dolphin spotted in Africa, possibly for the 1st time ever
Newlyweds were treated to an incredibly rare sight on their wedding day when the whale-watching vessel they were aboard encountered an albino dolphin calf — likely the first of its kind seen in Africa.
Read More

The things the TSA has found in carry-ons.  Take a look at some of the prohibited objects the TSA is spotlighting on its Twitter feed during #ProhibitedItemsWeek.
PHOTOS OF THE DAY

New York, US
A visitor to Central Park sits in a flowering cherry tree
Photograph: Sarah Yenesel/EPA

Eldorado dos Carajás, Brazil
Swallows perch on power lines at sunset in Pará state
Photograph: Nelson Almeida/AFP/Getty Images

London, UK
The period tailor Zack Pinsent visits a preview of the Style & Society: Dressing the Georgians exhibition at the Queen’s Gallery, Buckingham Palace. The exhibition will ‘reveal life in the 18th century through the fashions of the day’
Photograph: Jeff Moore/PA
Market Closes for April 20^th, 2023

Market Index	Close	Change
Dow Jones	33786.62	-110.39
		-0.33%
S&P 500	4129.79	-24.73
		-0.60%
NASDAQ	12059.56	-97.67
		-0.80%
TSX	20630.69	-50.14
		-0.24%

International Markets

Market Index	Close	Change
NIKKEI	28610.77	-46.80
		-0.16%
HANG SENG	20396.97	+29.21
		+0.14%
SENSEX	59632.35	+64.55
		+0.11%
FTSE 100*	7902.61	+3.84
		+0.05%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	2.974	3.062
CND. 30 Year Bond	3.067	3.137
U.S.    10 Year Bond	3.5375	3.5908
U.S. 30 Year Bond	3.7481	3.7865

Currencies

BOC Close	Today	Previous
Canadian $	0.7418	0.7431
US $	1.3481	1.3457
Euro Rate 1 Euro=		Inverse
Canadian $	1.4787	0.6763
US  $	1.0970	0.9116

Commodities

Gold	Close	Previous
London Gold Fix	1990.55	1999.40
Oil
WTI Crude Future	77.29	79.16

Market Commentary:
📈 On this day in 1812, workers who became known as Luddites smashed and burned a textile mill in the north of England, enraged by its use of mechanized looms.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.2%, or 50.14 to 20,630.69 in Toronto.
The move was the biggest since falling 0.6% on April 5.
Shopify Inc. contributed the most to the index decline, decreasing 2.2%.
Altus Group Ltd/Canada had the largest drop, falling 5.3%.
Today, 139 of 232 shares fell, while 85 rose; 6 of 11 sectors were lower, led by energy stocks.
Insights
* This month, the index rose 2.6%
* So far this week, the index was little changed
* The index declined 6.2% in the past 52 weeks. The MSCI AC Americas Index lost 8.4% in the same period
* The S&P/TSX Composite is 6.6% below its 52-week high on April 21, 2022 and 15.4% above its low on Oct. 13, 2022
* The S&P/TSX Composite is up 0.3% in the past 5 days and rose 5.7% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.4 on a trailing basis and 13.8 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.3t
* 30-day price volatility fell to 11.10% compared with 11.81% in the previous session and the average of 12.29% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | -33.5314| -0.9| 3/34
Information Technology | -12.8068| -0.9| 4/8
Materials | -10.7905| -0.4| 19/26
Financials | -3.6334| -0.1| 13/16
Utilities | -1.8875| -0.2| 6/10
Communication Services | -0.4505| -0.1| 2/3
Real Estate | 0.1259| 0.0| 11/10
Consumer Staples | 0.2027| 0.0| 6/5
Health Care | 0.4017| 0.6| 4/2
Consumer Discretionary | 0.7350| 0.1| 5/10
Industrials | 11.5057| 0.4| 12/15
================================================================
| | |Volume VS| YTD
|Index Points | | 20D AVG | Change
Top Contributors | Move | % Change | (%) | (%)
================================================================
Shopify | -12.1300| -2.2| 71.8| 37.3
Canadian Natural Resources | -10.4600| -1.7| -45.0| 7.1
Enbridge | -6.3320| -0.8| 31.3| 0.3
Agnico Eagle Mines | 2.3940| 0.9| -46.5| 8.7
Waste Connections | 2.5380| 0.7| 22.5| 8.0
Canadian Pacific | | | |
Kansas | 5.8820| 0.8| -4.8| 7.8
US
By John Viljoen and Robert Brand
(Bloomberg) — Stocks fell and bonds rose after data showed some softening in the labor market, housing and a gauge of business outlook.
Traders also continued to wade through corporate earnings and comments from Federal Reserve speakers.
The tech-heavy Nasdaq 100 underperformed, with Tesla Inc. down about 10% after signaling it will keep cutting prices to stoke demand even after markdowns took a significant toll on profitability.
The S&P 500 dropped ahead of Friday’s options expiration.
The Cboe Volatility Index, or VIX, halted a six-day streak of declines.

The policy-sensitive two-year yield declined as much as 10 basis points to 4.14%.
The dollar retreated against most of its developed-market peers.
Fed Bank of Cleveland President Loretta Mester signaled support for another rate hike to quell inflation while flagging the need to watch recent bank stress that could crimp credit and dampen the economy.
Her Dallas counterpart Lorie Logan said inflation has been “much too high,” while outlining measures to watch.
Recurring unemployment benefit claims jumped to the highest level since November 2021, adding to signs that the labor market is beginning to lose momentum.
Sales of previously owned homes fell in March by more than forecast, underscoring a housing market that’s still on shaky footing despite some signs of stabilizing.
US mortgage rates rose for the first time since early March.
“If the Fed stays the course, broad financial conditions should continue to tighten, the economy should decelerate into recession, and stocks should trade down sharply,” wrote Chris Senyek of Wolfe Research. “On the flip side, the biggest upside risk to our bearish call remains the Fed backing off way too soon! Although, if the Fed fails to sustainably bring down inflation, the ultimate pain will likely be much worse
12-24 months down the road.”
Corporate Highlights:
* International Business Machines Corp. gave a forecast for annual revenue in line with analysts’ projections, delivering a cautiously optimistic signal about technology spending in an uncertain economy.
* AT&T Inc. missed estimates for free cash flow.
* American Express Co. set aside more money to cover souring loans, a move that weighed on earnings.
* D.R. Horton Inc.’s results topped expectations.
* Truist Financial Corp. and Fifth Third Bancorp. Reported deposits that were broadly stable in the first quarter as banks weathered the fallout from the collapse of three lenders in March.
* Union Pacific Corp. posted profit higher than analysts’ expectations amid higher prices.

Key events this week:
* PMIs for Eurozone, Friday
* Japan CPI, Friday
* Fed’s Lisa Cook discusses economic research at an event, Friday

Some of the main moves in the market:
Stocks
* The S&P 500 fell 0.6% as of 4 p.m. New York time
* The Nasdaq 100 fell 0.8%
* The Dow Jones Industrial Average fell 0.3%
* The MSCI World index fell 0.4%
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%
* The euro was little changed at $1.0964
* The British pound was little changed at $1.2436
* The Japanese yen rose 0.3% to 134.28 per dollar
Cryptocurrencies
* Bitcoin fell 4% to $28,070.67
* Ether fell 2.8% to $1,926.1
Bonds
* The yield on 10-year Treasuries declined six basis points to 3.53%
* Germany’s 10-year yield declined seven basis points to 2.45%
* Britain’s 10-year yield declined nine basis points to 3.77%
Commodities
* West Texas Intermediate crude fell 2.4% to $77.29 a barrel
* Gold futures rose 0.4% to $2,015 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Isabelle Lee, Vildana Hajric and Cristin Flanagan.
Have a lovely evening.

Be magnificent!
As ever,

Carolann

It is only the tranquil mind that can allow for fair and clear judgments free of error. –Gichin Funakoshi, 1868-1957.
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:
April 19, 1770: British explorer Captain James Cook first sights Australia.   Writes in his log book that “what we have as yet seen of this land appears rather low, and not very hilly, the face of the Country green and Woody, but the Sea shore is all a white sand.”
1775: Start of the American Revolution, Battle of Lexington & Concord.
1932: Herbert Hoover suggests a 5-day work week.
1933: The United States went off the gold standard. Go to article > 

How to view the rare hybrid eclipse today.  A hybrid solar eclipse — the first of its kind in nearly 10 years — will be on display for a few hours today. Here’s how you can watch the celestial event.

The “war on woke” is getting petty.

95 million-year-old land bridge across Antarctica carried dinosaurs between continents
A nearly 100 million-year-old, exceptionally well-preserved sauropod skull discovered in Australia may show that dinosaurs trudged across Antarctica from South America to Australia. Read More

Skin: Facts about the body’s largest organ and its functions
Skin is the body’s largest organ and part of the integumentary system, which acts as a protective barrier between the external environment and the inside of the body. Find out More

Gravity can transform into light, mind-bending physics paper suggests. Gravity can turn itself into light, but only if space-time behaves in just the right way, a research team has found. Read More

PHOTOS OF THE DAY

A ship sits on the Horizon off the coast at Tynemouth, as the sun rises.  Credit: PA

Cypriot marine ecologist Louis Hadjioannou, 38, dives to photograph the coral, as he monitors the impact of climate change on the delicate fauna in the crystal clear waters of Glyko Nero in Ayia Napa, off the island’s southeastern shore.  Credit: EMILY IRVING-SWIFT

​​​​​​​Sunrise by the River Great Ouse in Ely, Cambridgeshire on a sunny Tuesday morning with the good weather sent to continue this week.  Credit: Veronica Johansson Poultney/Bav Media
Market Closes for April 19^th, 2023

Market Index	Close	Change
Dow Jones	33897.01	-79.62
		-0.23%
S&P 500	4154.52	-0.35
		-0.01%
NASDAQ	12157.23	+3.82
		+0.03%
TSX	20680.83	-3.85
		-0.02%

International Markets

Market Index	Close	Change
NIKKEI	28606.76	-52.07
		-0.18%
HANG SENG	20367.76	-282.75
		-1.37%
SENSEX	59567.80	-159.21
		-0.27%
FTSE 100*	7898.77	-10.67
		-0.13%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	3.062	3.061
CND. 30 Year Bond	3.137	3.141
U.S.    10 Year Bond	3.5908	3.5756
U.S. 30 Year Bond	3.7865	3.7874

Currencies

BOC Close	Today	Previous
Canadian $	0.7431	0.7469
US $	1.3457	1.3389
Euro Rate 1 Euro=		Inverse
Canadian $	1.4746	0.6782
US  $	1.0958	0.9126

Commodities

Gold	Close	Previous
London Gold Fix	1999.40	1995.55
Oil
WTI Crude Future	79.16	80.86

Market Commentary:
📈 On this day in 1895: A newspaper published the description of engineer Herman Hollerith’s “electric tabulating machine,” a new data-processing device that used electrical signals to read, count and sort punch cards. Hollerith’s company is one of the ancestors of IBM.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite declined slightly to 20,680.83 in Toronto, ending a 8-day gain.
The loss follows the previous session’s increase of 0.2%.
Suncor Energy Inc. contributed the most to the index decline, decreasing 2.0%.
Capstone Copper Corp. had the largest drop, falling 5.3%.
Today, 130 of 232 shares fell, while 100 rose; 4 of 11 sectors were lower, led by materials stocks.
Insights
* The index declined 6.1% in the past 52 weeks. The MSCI AC Americas Index lost 7.9% in the same period
* The S&P/TSX Composite is 6.4% below its 52-week high on April 21, 2022 and 15.7% above its low on Oct. 13, 2022
* The S&P/TSX Composite is up 1.1% in the past 5 days and rose 6.7% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.4 on a trailing basis and 13.8 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.3t
* 30-day price volatility fell to 11.81% compared with 11.84% in the previous session and the average of 12.35% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -32.5676| -1.2| 5/45
Energy | -14.2274| -0.4| 13/25
Information Technology | -2.2460| -0.2| 2/10
Consumer Discretionary | -1.5382| -0.2| 7/8
Real Estate | 0.0584| 0.0| 7/14
Health Care | 0.1137| 0.2| 4/2
Communication Services | 1.2169| 0.1| 2/3
Utilities | 2.8022| 0.3| 13/3
Consumer Staples | 3.4976| 0.4| 10/1
Industrials | 16.2802| 0.6| 17/10
Financials | 22.7541| 0.4| 20/9
================================================================
| | |Volume VS | YTD
| Index | | 20D AVG | Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
Suncor Energy | -8.0670| -2.0| 5.2| -3.3
First Quantum Minerals | -4.3280| -3.1| -32.2| 21.1
Franco-Nevada | -3.2640| -1.2| -6.6| 11.0
RBC | 3.8530| 0.3| 3.9| 5.8
Brookfield Corp | 6.1550| 1.4| 16.4| 4.7
Canadian Pacific Kansas | 7.9520| 1.2| -18.7| 6.9
US
By Sujata Rao
(Bloomberg) — Stocks were little changed as traders assessed another batch of corporate earnings and remained focused on any signals about the Federal Reserve’s next policy moves.
Bond yields climbed.
The S&P 500 halted a two-day advance.
The Cboe Volatility Index hit its lowest since November 2021, declining to around 16. In late trading, Tesla Inc. dropped as its first-quarter profit missed expectations.
International Business Machines Corp. rose after reporting better-than-estimated earnings, while giving a forecast for annual revenue that was in line with projections.
Morgan Stanley rose after its investment bank and giant wealth unit surpassed expectations even as profits fell.
Western Alliance Bancorp climbed after beating earnings estimates and saying deposits recovered.
The US economy stalled in recent weeks, with hiring and inflation slowing and access to credit narrowing, the Fed said in its Beige Book survey.
That’s a step down from the tone of the previous report — published in early March just before Silicon Valley Bank’s failure — which showed an economy that remained resilient though with growing doubts about the rest of the year.
“Portfolio managers are trying to reduce risk because of concerns that nothing good can happen after so much central bank tightening,” said Andrew Pease, head of investment strategy at Russell investments Ltd. On earnings, “companies are losing pricing power and a margin squeeze is happening in the background and that’s what to look for when the dust settles on quarter one.”
Treasury two-year rates, which are more sensitive to imminent policy moves, topped 4.2%.
The dollar rose.
Bitcoin dropped below $30,000.
Oil fell while gold declined below $2,000 an ounce.
Key events this week:
* China loan prime rates, Thursday
* Eurozone consumer confidence, Thursday
* US initial jobless claims, existing home sales, index of leading economic indicators, Thursday
* ECB issues report on March policy meeting, Thursday
* Fed’s Christopher Waller speaks at cryptocurrency-focused event, Thursday
* Fed’s Patrick Harker speaks on “monetary policy and housing”, Thursday
* Fed’s Loretta Mester discusses the economic and policy outlook, Thursday
* Fed’s Raphael Bostic discusses regional and national economic conditions, Thursday
* Fed’s Michelle Bowman and Lorie Logan speak at event, Thursday
* PMIs for Eurozone, Friday
* Japan CPI, Friday
* Fed’s Lisa Cook discusses economic research at an event, Friday

Some of the main moves in the market:
Stocks
* The S&P 500 was little changed as of 4 p.m. New York time
* The Nasdaq 100 was little changed
* The Dow Jones Industrial Average fell 0.2%
* The MSCI World index fell 0.2%
Currencies
* The Bloomberg Dollar Spot Index rose 0.2%
* The euro fell 0.2% to $1.0955
* The British pound rose 0.1% to $1.2439
* The Japanese yen fell 0.5% to 134.80 per dollar
Cryptocurrencies
* Bitcoin fell 3.9% to $29,226.92
* Ether fell 5.4% to $1,980.69
Bonds
* The yield on 10-year Treasuries advanced two basis points to 3.60%
* Germany’s 10-year yield advanced four basis points to 2.52%
* Britain’s 10-year yield advanced 11 basis points to 3.86%
Commodities
* West Texas Intermediate crude fell 2.2% to $79.09 a barrel
* Gold futures fell 0.6% to $2,006.80 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Emily Graffeo, Peyton Forte and Isabelle Lee.

Have a lovely evening.

Be magnificent!
As ever,

Carolann
History is the witness of the times, the light of truth, the life of memory, the mistress of life. –Cicero, 106-BCE-43 BCE.

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 REMEMBRANCE DAY, ISRAEL.
April 18, 1775: Paul Revere’s Midnight Ride.
1906: San Francisco earthquake & fire kills over 500 persons.
1924: The first ever crossword puzzle book is published by Simon & Schuster.
April 18, 2011 Standard & Poor’s lowered its long-term outlook for the U.S. government’s fiscal health from “stable” to “negative.” Go to article >
Albert Einstein physicist, d. 1955.

Roman temple found in France may have been dedicated to war god Mars:  Archaeologists in northwest France have unearthed what may have been a temple to the Roman war god Mars, dating to the first century B.C.  Read More

25 things found frozen in Europe’s mountain ice: Europe’s glaciers and ice patches are a treasure-trove of ancient artifacts that show how civilizations and technology have changed over thousands of years.  Here are 25 of the most fascinating objects revealed by Europe’s melting ice.  Full Story: Live Science (4/17)

CRISPR-edited fat shrank tumors in mice. Someday, it could work in people, scientists say
Fat sucked out of the body and tweaked with the gene-editing tool CRISPR could be used to treat cancer, a study of mice and transplanted human tissues hints. Read More

The 50 Richest Cities Around the World

Where are the most millionaires in the world? New York City came out on top again in an annual ranking, with a total of 340,000. But it’s 2023, so the real question is which city took home the title for most billionaires.

Apple opens its first physical store in India.  Apple’s CEO Tim Cook was seen welcoming customers today at the company’s new store in Mumbai. Learn more about the iPhone maker’s expansion in the country.

PHOTOS OF THE DAY

London, UK
Landline by Sean Scully, which was unveiled to mark the formal completion of Hanover Square
Photograph: David Levene/the Guardian

Havana, Cuba
A vintage car passes an image of the former president Raúl Castro and Cuba’s current leader and first secretary of the Communist party, Miguel Díaz-Canel, next to a sign that reads: ‘We are continuity’
Photograph: Alexandre Meneghini/Reuters

Mumbai, India
Apple’s chief executive, Tim Cook, welcomes customers at the opening of the first Apple shop in the city. Hundreds of people waited outside for hours to enter
Photograph: Divyakant Solanki/EPA
Market Closes for April 18^th, 2023

Market Index	Close	Change
Dow Jones	33976.63	-10.55
		-0.03%
S&P 500	4154.87	+3.55
		+0.09%
NASDAQ	12153.41	-4.31
		-0.04%
TSX	20684.68	+42.71
		+0.21%

International Markets

Market Index	Close	Change
NIKKEI	28658.83	+144.05
		+0.51%
HANG SENG	20650.51	-131.94
		-0.63%
SENSEX	59727.01	-183.74
		-0.31%
FTSE 100*	7909.44	+29.93
		+0.38%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	3.061	3.098
CND. 30 Year Bond	3.141	3.174
U.S.    10 Year Bond	3.5756	3.6023
U.S. 30 Year Bond	3.7874	3.8116

Currencies

BOC Close	Today	Previous
Canadian $	0.7469	0.7467
US $	1.3389	1.3392
Euro Rate 1 Euro=		Inverse
Canadian $	1.4694	0.6805
US  $	1.0975	0.9112

Commodities

Gold	Close	Previous
London Gold Fix	1995.55	2019.40
Oil
WTI Crude Future	80.86	80.83

Market Commentary:
📈 On this day in 1933, President Franklin D. Roosevelt said he would bar exports of gold and free the U.S. dollar to float against foreign currencies. The move flushed out gold Americans had squirreled away during the Depression, flooding banks with cash and setting the stage for an economic recovery.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the eighth day, climbing 0.2%, or 42.71 to 20,684.68 in Toronto.
The index advanced to the highest closing level since Feb. 15.
Today, financials stocks led the market higher, as 5 of 11 sectors gained; 111 of 232 shares rose, while 117 fell.
Toronto-Dominion Bank contributed the most to the index gain, increasing 1.6%.
Bellus Health Inc. had the largest increase, rising 99.7%.
Insights
* The index declined 5.5% in the past 52 weeks. The MSCI AC Americas Index lost 6.4% in the same period
* The S&P/TSX Composite is 6.4% below its 52-week high on April 21, 2022 and 15.7% above its low on Oct. 13, 2022
* The S&P/TSX Composite is up 1.3% in the past 5 days and rose 6.7% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.4 on a trailing basis and 13.8 times estimated earnings of  its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.29t
* 30-day price volatility fell to 11.84% compared with 12.39% in the previous session and the average of 12.37% over the past month.
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 48.9400| 0.8| 22/7
Industrials | 10.9528| 0.4| 16/10
Health Care | 6.7327| 10.2| 3/3
Consumer Discretionary | 5.7975| 0.8| 12/3
Materials | 3.9932| 0.1| 32/17
Information Technology | -0.0924| 0.0| 1/11
Communication Services | -0.6925| -0.1| 3/2
Real Estate | -2.3579| -0.5| 4/17
Consumer Staples | -5.0727| -0.6| 1/10
Utilities | -6.8624| -0.7| 3/13
Energy | -18.6246| -0.5| 14/24
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
TD Bank | 16.0800| 1.6| 22.6| -5.0
Canadian Pacific | | | |
Kansas | 8.9870| 1.3| 9.2| 5.7
Shopify | 7.8120| 1.5| -7.0| 40.2
Nutrien | -4.7000| -1.3| -11.5| 0.2
TC Energy | -5.8720| -1.5| -75.3| 3.5
Suncor Energy | -8.5360| -2.1| 17.6| -1.
US
By Sujata Rao
(Bloomberg) — Stocks were little changed as traders weighed earnings from some of the largest American banks and comments from two Federal Reserve officials who favor continued rate hikes to fight inflation.
The S&P 500 edged higher.
The Cboe Volatility Index hit its lowest since January 2022, remaining below 17.
Goldman SachGroup Inc. fell as its results showed traders failed to capitalize on Wall Street’s fixed-income boom, contributing to firmwide revenue that trailed estimates.
Bank of America Corp. rose after profit beat expectations.
“It’s so early in the reporting season, it’s really hard to make too much out of what’s going on,” said Tony Roth, chief investment officer at Wilmington Trust.
Regional banks are due to report results in the coming days and weeks, and “that will give us a better sense of how they’re doing.”
Treasury two-year yields, which are more sensitive to imminent policy moves, rose to 4.2%.
Fed Bank of Atlanta President Raphael Bostic told CNBC he favors raising rates one more time and then holding them above 5% for some time to curb inflation.
His St. Louis counterpart James Bullard, who’s been among the more hawkish policymakers, separately told Reuters that he favors getting rates into a 5.5% to 5.75% range.
The current benchmark sits between 4.75% and 5%.
Tesla Inc. declined ahead of its first-quarter results, which will come out after the market close on Wednesday.
Investors are focused on the electric automaker’s profit margins, which likely took a hit as the company slashed prices to spur demand throughout the quarter.
Bitcoin’s 2023 rebound has resumed after stalling around the closely watched $30,000 level, despite the latest US crypto crackdown and a more sober assessment of the outlook for monetary policy.
Oil was little changed as the bullish impetus from OPEC+ production cuts faded against a backdrop of weaker-than-expected demand.
Gold halted a two-day losing streak.
US natural gas rose as colder weather conditions are expected to boost heating demand later this month.
Key events this week:
* Eurozone CPI, Wednesday
* Fed releases Beige Book, Wednesday
* Fed’s John Williams gives a speech, Wednesday
* Fed’s Austan Goolsbee is interviewed on NPR, Wednesday
* China loan prime rates, Thursday
* Eurozone consumer confidence, Thursday
* US initial jobless claims, existing home sales, index of leading economic indicators, Thursday
* ECB issues report on March policy meeting, Thursday
* Fed’s Christopher Waller speaks at cryptocurrency-focused event, Thursday
* Fed’s Patrick Harker speaks on “monetary policy and housing”, Thursday
* Fed’s Loretta Mester discusses the economic and policy outlook, Thursday
* Fed’s Raphael Bostic discusses regional and national economic conditions, Thursday
* Fed’s Michelle Bowman and Lorie Logan speak at event, Thursday
* PMIs for Eurozone, Friday
* Japan CPI, Friday
* Fed’s Lisa Cook discusses economic research at an event, Friday

Some of the main moves in the market:
Stocks
* The S&P 500 was little changed as of 4 p.m. New York time
* The Nasdaq 100 was little changed
* The Dow Jones Industrial Average was little changed
* The MSCI World index rose 0.2%
Currencies
* The Bloomberg Dollar Spot Index fell 0.2%
* The euro rose 0.4% to $1.0971
* The British pound rose 0.4% to $1.2426
* The Japanese yen rose 0.3% to 134.08 per dollar
Cryptocurrencies
* Bitcoin rose 2.6% to $30,211.05
* Ether rose 0.1% to $2,079.28
Bonds
* The yield on 10-year Treasuries declined two basis points to 3.58%
* Germany’s 10-year yield was little changed at 2.48%
* Britain’s 10-year yield advanced six basis points to 3.75%
Commodities
* West Texas Intermediate crude was little changed
* Gold futures rose 0.5% to $2,017 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Cristin Flanagan, Vildana Hajric, Carly Wanna, Isabelle Lee and Peyton Forte.

Have a lovely evening.

Be magnificent!
As ever,

Carolann
Raise your words, not voice.  It is rain that grows flowers, not thunder. -Rumi, 1207-1273.

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 Monday.
April 17, 1991: Dow Jones tops 3,000 for the first time.  It closed today at 33,987.18 – a gain of  +1033% since 1991.
On April 17, 1961, about 1,500 CIA-trained Cuban exiles launched the disastrous Bay of Pigs invasion of Cuba in a failed attempt to overthrow the government of Fidel Castro. Go to article >

J.P. Morgan, banker, b.1837.
1932: Haile Selassie ends slavery in Ethiopia.
2011: Game of Thrones, based on the fantasy novels by George R.R. Martin., premieres on  HBO.

Which ancient Egyptian dynasty ruled the longest?
Ancient Egypt was ruled for millennia by a series of pharaohs. But which dynasty lasted the longest?  Read More

Looking at awe-inspiring art could lead to a happier, healthier life:  The feeling you get when you listen to stirring music or look at a striking painting could improve your physical, mental and social well-being.

Generous mother wins lottery: Days after a Florida woman finished paying for her daughter’s cancer treatment, she won millions in the lottery. Well deserved!

The Gate Appreciation Society has a favorite gate. (h/t Mark Gilbert)

$300,000 is the new $100,000.

PHOTOS OF THE DAY

New York, US
The soprano Raquel Suarez Groen acknowledges the applause during the closing performance of Phantom of the Opera at the Majestic Theatre, marking the end of the musical’s 35-year run on Broadway
Photograph: Nina Westervelt/Variety/Getty Images

Namur, Belgium
Stilt-walkers take part in the city’s 25th folklore festival
Photograph: Xinhua/Shutterstock

Kopuwai, New Zealand
Weka the bearded collie carries his bed and belongings in a Ruffwear backpack
Photograph: Murdo MacLeod/The Guardian
Market Closes for April 17^th, 2023

Market Index	Close	Change
Dow Jones	33987.18	+100.71
		+0.30%
S&P 500	4151.32	+13.68
		+0.33%
NASDAQ	12157.72	+34.25
		+0.28%
TSX	20641.97	+62.06
		+0.30%

International Markets

Market Index	Close	Change
NIKKEI	28514.78	+21.31
		+0.07%
HANG SENG	20782.45	+343.64
		+1.68%
SENSEX	59910.75	-520.25
		-0.86%
FTSE 100*	7879.51	+7.60
		+0.10%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	3.098	3.036
CND. 30 Year Bond	3.174	3.123
U.S.    10 Year Bond	3.6023	3.5128
U.S. 30 Year Bond	3.8116	3.7339

Currencies

BOC Close	Today	Previous
Canadian $	0.7467	0.7482
US $	1.3392	1.3365
Euro Rate 1 Euro=		Inverse
Canadian $	1.4638	0.6832
US  $	1.0927	0.9152

Commodities

Gold	Close	Previous
London Gold Fix	2019.40	2048.45
Oil
WTI Crude Future	80.83	82.52

Market Commentary:
📈 On this day in 1930, the stock market hit a high following the November 1929 crash, with the Dow Jones Industrial Average closing up 48%.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the seventh day, climbing 0.3%, or 62.06 to 20,641.97 in Toronto.
The index advanced to the highest closing level since Feb. 15.
Shopify Inc. contributed the most to the index gain, increasing 4.8%.
Teck Resources Ltd. had the largest increase, rising 7.8%.
Today, 121 of 232 shares rose, while 110 fell; 8 of 11 sectors were higher, led by financials stocks.
Insights
* The index declined 5.6% in the past 52 weeks. The MSCI AC Americas Index lost 6.5% in the same period
* The S&P/TSX Composite is 6.5% below its 52-week high on April 21, 2022 and 15.5% above its low on Oct. 13, 2022
* The S&P/TSX Composite is up 1.8% in the past 5 days and rose 6.5% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.4 on a trailing basis and 13.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.28t
* 30-day price volatility little changed to 12.39% compared with 12.40% in the previous session and the average of 12.35% over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 31.5876| 0.5| 17/11
Information Technology | 18.1677| 1.3| 3/9
Industrials | 14.9074| 0.5| 24/3
Real Estate | 5.8925| 1.2| 19/2
Consumer Discretionary | 2.6545| 0.4| 10/5
Communication Services | 2.3751| 0.3| 3/2
Health Care | 1.8285| 2.8| 6/0
Materials | 1.3215| 0.0| 15/35
Utilities | -0.1066| 0.0| 7/9
Energy | -7.2301| -0.2| 13/27
Consumer Staples | -9.3312| -1.1| 4/7
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
Shopify | 24.8500| 4.8| 17.6| 38.2
Teck Resources | 14.7700| 7.8| 28.7| 28.6
Nutrien | 10.2700| 2.9| 5.1| 1.5
Wheaton Precious Metals | -4.4300| -2.1| -41.9| 25.9
Canadian Natural Resources | -4.7720| -0.8| -46.6| 9.4
Couche-Tard | -6.3510| -1.8| -11.4| 12.2
US
By Sujata Rao
(Bloomberg) — Stocks saw small moves as the possibility of further Federal Reserve policy tightening lifted Treasury yields and investors stayed on the sidelines amid bank earnings.
The S&P 500 erased losses in afternoon New York trading.
The tech-heavy Nasdaq 100 underperformed major equity benchmarks.
Two-year rates climbed to around 4.2% as investors scaled back expectations for rate cuts later in the year.
Richmond Fed President Thomas Barkin said he wants to see more evidence that US inflation is easing back to the central bank’s goal of 2%.
New York state manufacturing activity unexpectedly expanded in April for the first time in five months as new orders and shipments snapped back.
Charles Schwab Corp. rose as executives said the firm can weather the turmoil roiling US banks, while pausing stock buybacks in response to the industry’s worst crisis since 2008.
State Street Corp. fell as it reported clients retreated from its investment products.
“The current season’s earnings profile is rather opaque,” said Peter Kinsella, head of FX strategy at Swiss asset manager UBP. “The banks last week did better than expected, but we have to see what the reporting season will be like from everyone else. But the S&P is expensive at current levels so you have to ask yourself if there is really much material upside from here.”
Key events this week:
* China GDP, retail sales, industrial production, Tuesday
* US housing starts, Tuesday
* Goldman Sachs and Bank of America release first-quarter earnings, Tuesday
* Fed’s Michelle Bowman discusses digital currency, Tuesday
* Eurozone CPI, Wednesday
* Fed releases Beige Book, Wednesday
* Fed’s John Williams gives a speech, Wednesday
* Fed’s Austan Goolsbee is interviewed on NPR, Wednesday
* China loan prime rates, Thursday
* Eurozone consumer confidence, Thursday
* US initial jobless claims, existing home sales, index of leading economic indicators, Thursday
* ECB issues report on March policy meeting, Thursday
* Fed’s Christopher Waller speaks at cryptocurrency-focused event, Thursday
* Fed’s Patrick Harker speaks on “monetary policy and housing”, Thursday
* Fed’s Loretta Mester discusses the economic and policy outlook, Thursday
* Fed’s Raphael Bostic discusses regional and national economic conditions, Thursday
* Fed’s Michelle Bowman and Lorie Logan speak at event, Thursday
* PMIs for Eurozone, Friday
* Japan CPI, Friday
* Fed’s Lisa Cook discusses economic research at an event, Friday

Some of the main moves in the market:
Stocks
* The S&P 500 rose 0.3% as of 4 p.m. New York time
* The Nasdaq 100 was little changed
* The Dow Jones Industrial Average rose 0.3%
* The MSCI World index was little changed
Currencies
* The Bloomberg Dollar Spot Index rose 0.4%
* The euro fell 0.6% to $1.0930
* The British pound fell 0.3% to $1.2377
* The Japanese yen fell 0.5% to 134.43 per dollar
Cryptocurrencies
* Bitcoin fell 2.9% to $29,481.61
* Ether fell 2% to $2,079.33
Bonds
* The yield on 10-year Treasuries advanced eight basis points to 3.59%
* Germany’s 10-year yield advanced three basis points to 2.47%
* Britain’s 10-year yield advanced two basis points to 3.69%
Commodities
* West Texas Intermediate crude fell 1.9% to $80.92 a barrel
* Gold futures fell 0.4% to $2,008.30 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Vildana Hajric, Angel Adegbesan, Isabelle Lee, Peyton Forte and Emily Graffeo.
Have a lovely evening.

Be magnificent!
As ever,

Carolann
Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones. –Benjamin Franklin, 1706-1790.

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

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

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