June 27, 2014 Newsletter
Dear Friends,
Tangents:
I will be writing the newsletter on Carolann’s behalf, as she is out of town.
Photos of the Day
Fans watch the match between the US and Germany June 26 from an alley in Seattle’s historic Pioneer Square neighborhood. ‘Nord Alley’ has been the site of large-screen viewing parties for World Cup games every match day.
A France supporter blows a kiss prior to the Group E match between Ecuador and France at the Maracana stadium in Rio de Janeiro, June 25.
Market Closes for June 27th, 2014
| Market
Index |
Close | Change |
| Dow
Jones |
16851.84
|
+5.71 |
| +0.09% | ||
| S&P 500 | 1959.48
|
+2.50
+0.03% |
| NASDAQ | 4397.930
|
+18.84
-+0.43% |
| TSX | 15094.25 | +63.51
|
| +0.42%
|
International Markets
| Market
Index |
Close | Change |
| NIKKEI | 15095.00 | -213.49
|
| -1.39%
|
||
| HANG
SENG |
23167.73 | -13.99
|
| -0.06%
|
||
| SENSEX | 23221.52 | +23.69
|
| -0.10%
|
||
| FTSE 100 | 6757.77 | +22.65
|
| +0.34%
|
Bonds
| Bonds | % Yield | Previous % Yield |
| CND.
10 Year Bond |
2.250 | 2.262 |
| CND.
30 Year Bond |
2.801 | 2.825 |
| U.S.
10 Year Bond |
2.5340 | 2.6206 |
| U.S.
30 Year Bond |
3.3665 | 3.4660 |
Currencies
| BOC Close | Today | Previous |
| Canadian $ | 0.99765 | 0.92228
|
| US
$ |
1.06650 | 1.08426 |
| Euro Rate
1 Euro= |
Inverse
|
|
| Canadian
$
|
1.45566 | 0.68697 |
| US
$
|
1.36490 | 0.73266 |
Commodities
| Gold | Close | Previous |
| London Gold
Fix |
1316.18 | 1272.67 |
| Oil | Close | Previous |
| WTI Crude Future | 105.74 | 106.90 |
| BRENT | 109.360 | 109.360 |
Market Commentary:
Canada
By Gerrit De Vynk – June 27 (Bloomberg)
Canadian Stocks rallied the most in two weeks as Valeant Pharmaceuticals international Inc. settled a lawsuit and financial shares advanced. Valeant gained 2.1 percent. Mag silver corp. fell 11 percent after saying it would sell C$75million in shares. Empire Cp., which operates grocery stores, gained 4.6 percent after Canadian Imperial Bank of Commerce raised its rating to sector outperform, the equivalent of buy, from sector perform.
The Standard & Poor’s/TSX Composite Index rose 63.51 points, or 0.4 percent, to 15,094.25 at 4pm. In Toronto, paring a weekly decline to 0.1 percent. It is up 11 percent this year and trading near an all-time high.
Royal Bank of Canada and CIBC gained at least 0.9 percent to pace gains among financial firms, which gained 0.6 percent as a group.
Empire gained 4.6 percent to C$70.82. Yesterday the company raised its dividend and reported fourth-quarter earnings that beat analyst estimates. Empire recently bought the Safeway brand in Canada.
USA
By Nina Glinski – June 27 (Bloomberg)
Consumer sentiment improved in June as higher stock prices and an improving labor market helped bolster Americans’ views of the economy. The Thomson Reuters/University of Michigan’s final sentiment index climbed to 82.5 from 81.9 in may. Economists surveyed by Bloomberg projected an increase to 82 after a preliminary June reading of 81.2
More employment opportunities, record stock prices and improved property values are giving consumers cause for enthusiastic attitudes, reducing the odds that consumers ill retrench. At the same time, Americans are paying more at gas pumps and grocery-store checkout lines, underscoring the need for bigger wage gains.
Have a wonderful evening everyone.
Be magnificent!
As ever,
Brianna
Carolann Steinhoff, B.Sc., CFP®, CIM, FCSI
Senior Vice-President &
Senior Investment Advisor
Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7