February 9, 2017 Newsletter
Dear Friends,
Tangents:
Birthday, Carol King, songwriter, b. 1942
Sometimes you win sometimes you lose
And sometimes the blues just get a hold of you
Just when you though you had made it
All around the block people will talk
But I want to give it all that I’ve got
I just don’t want, I don’t want to waste it
Talkin’ ’bout sweet seasons on my mind
Sure does appeal to me
You know you we can get there easily
Just like a sailboat a-sailin’ on the sea
Sometimes you win, sometimes you lose
And most times you choose between the two
Wonderin’, wonderin’ if you have made it
But I’ll have some kids and make my plans
And I’ll watch the seasons runnin’ away
And I’ll build me a life in the open
A life in the country
I’m Talkin’ ’bout a sweet seasons on my mind
Sure does appeal to me
You know you we can get there easily
Just like a sailboat a-sailin’ on the sea…
-Carole King, The Living Room Tour, 2005
PHOTOS OF THE DAY
Beat Feuz of Switzerland takes a training run in the men’s downhill at the FIS Alpine Skiing World Championships in St. Moritz, Switzerland, on Thursday. Denis Balibouse/Reuters
Pupils on their way to school are silhouetted as the sun rises in Frankfurt, Germany, on a cold Thursday. Michael Probst/AP
A woman crosses the street in Chartres, France. Stephane Mahe/Reuters
Market Closes for February 9th, 2017
| Market
Index |
Close | Change |
| Dow
Jones |
20172.40 | +118.06
+0.59% |
| S&P 500 | 2307.87 | +13.20
+0.58% |
| NASDAQ | 5715.180 | +32.726
+0.58% |
| TSX | 15617.30 | +63.26
|
| +0.41% |
International Markets
| Market
Index |
Close | Change |
| NIKKEI | 18907.67 | -99.93 |
| -0.53% | ||
| HANG
SENG |
23525.14 | +40.01 |
| +0.17% | ||
| SENSEX | 28329.70 | +39.78 |
| +0.14% | ||
| FTSE 100* | 7229.50 | +40.68 |
| +0.57% |
Bonds
| Bonds | % Yield | Previous % Yield | |||
| CND.
10 Year Bond |
1.683 | 1.622 | |||
| CND.
30 Year Bond |
2.358 | 2.293 | |||
| U.S.
10 Year Bond |
2.3966 | 2.3400 | |||
| U.S.
30 Year Bond |
3.0098 | 2.9509 | |||
Currencies
| BOC Close | Today | Previous |
| Canadian $ | 0.76103 | 0.76438 |
| US
$ |
1.31400 | 1.30824 |
| Euro Rate
1 Euro= |
Inverse | |
| Canadian $ | 1.40037 | 0.71410 |
| US
$ |
1.06573 | 0.93833 |
Commodities
| Gold | Close | Previous |
| London Gold
Fix |
1236.80 | 1242.10 |
| Oil | Close | Previous |
| WTI Crude Future | 53.00 | 52.34 |
Market Commentary:
Canada
By Oliver Renick
(Bloomberg) — Canadian stocks climbed for a third session as energy companies led an advance that saw seven of 11 groups move higher on the day.
The S&P/TSX Composite Index added 0.4 percent for the fourth advance in five sessions, bringing the gauge to 15,617.30 at 4 p.m. in Toronto 0.2 percent away from a record set on Jan. 25.
Shares of energy companies added 1.5 percent for the second day in a row as crude oil climbed 1.4 percent to $53.08 a barrel. All but seven companies in the 50-member energy group advanced, with Birchcliff Energy Ltd. and Ecana Corp. gaining at least 6.5 percent.
Health-care stocks also rallied, gaining 0.7 percent for the fifth advance in six sessions as Valeant Pharmaceuticals International jumped 1.7 percent and Prometic Life Sciences Inc.added 0.5 percent.
Mullen Group Ltd. was one of the biggest decliners on the day, losing 5.3 percent after being cut to hold by a Canaccord Genuity equity analyst after the company posted fourth quarter earnings that missed the lowest estimates.
US
By Oliver Renick
(Bloomberg) — U.S. stocks rallied to new highs after weekly applications for unemployment benefits unexpectedly declined and investors assessed earnings from Coca-Cola Co. and Kellogg Co. to Twitter Inc.
S&P 500 Index rose 0.6% to 2,307.87 at 4 p.m., while the Dow Jones Industrial Average gained 118 points to 20,172.
Russell 2000 Index jumped 1.5% to the highest since Jan. 25.
Energy shares up 0.9% for first advance in four sessions as oil climbs 1.4% for second day of gains.
Financial stocks higher for first gain this week, adding 1.4% with all 17 companies in S&P 500 Banks index rallying.
Regions Financial and Citizens Financial leading pack, up at least 2.5%.
Utility and raw-materials shares only groups down as the 10-year Treasury yield adds 6 bp to 2.382%.
VIX down 4.8% to 10.9.
Jobless claims fell by 12,000 to 234,000 in the week endedFeb. 4, a report from the Labor Department showed Thursday; median forecast in a Bloomberg survey called for 249,000. Tech volume 9% higher than the 30-day average in early trading as a rally in Micron offsets losses in Facebook and Microchip Technology
With more than half of S&P 500 companies having posted earnings this season, about three-quarters beat profit estimates and roughly half beat sales forecasts, according to data compiled by Bloomberg
Equity markets advanced across the board in Europe as positive momentum from earnings filtered through stocks after Societe Generale SA beat estimates and French and Italian debt strengthened amid ebbing political risk
EARNINGS:
After-market Thursday: Cerner (CERN), Western Union (WU), Activision Blizzard (ATVI), Yelp (YELP), Expedia (EXPE), News Corp (NWSA), Pandora Media (P), Mohawk Industries (MHK), Zayo Group Holdings (ZAYO), VeriSign (VRSN), NVIDIA (NVDA)
Pre-market Friday: CBRE Group (CBG), DENTSPLY SIRONA (XRAY), Interpublic (IPG), Ventas (VTR).
Have a wonderful evening everyone.
Be magnificent!
We should never try to follow another’s path for that is his way, not yours.
When that path is found, you have nothing to do but fold your arms
and the tide will carry you to freedom.
Therefore when you find it, never swerve from it.
Your way is the best for you,
but that is no sign it is the best for another.
Swami Vivekananda
As ever,
Carolann
Courage is not the absence of fear, but rather the judgment
that something else is more important than fear.
-Ambrose Redmoon, 1933-1996
Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Portfolio Manager &
Senior Vice-President
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