February 04th, 2020 Newsletter

Dear Friends,

Tangents:
February 4, 2004: Mark Zuckerberg launches Facebook from his Harvard dormitory room.

On Feb. 4, 1974, newspaper heiress Patricia Hearst was kidnapped in Berkeley, Calif., by the Symbionese Liberation Army. Go to article »

Here’s something I’ve kept for a long time that’s worth resurrecting every now and then:

The Ten Commandments of How to Get Along with People
                                                                                  -Ann Landers

1. Keep skid chains on your tongue; always say less than you think. Cultivate a low, persuasive voice. How you say it counts more than what you say.

2. Make promises sparingly, and keep them faithfully, no matter what it costs.

3. Never let an opportunity pass to say a kind and encouraging word to or about somebody. Praise good work, regardless of who did it. If criticism is needed, criticize helpfully, never spitefully.

4. Be interested in others, their pursuits, their work, their homes and families. Make merry with those who rejoice; with those who weep, mourn. Let everyone you meet, however humble, feel that you regard him as a person of importance.

5. Be cheerful. Don’t burden or depress those around you by dwelling on your minor aches and pains and small disappointments. Remember, everyone is carrying some kind of a load.

6. Keep an open mind. Discuss but don’t argue. It is a mark of a superior mind to be able to disagree without being disagreeable.

7. Let your virtues, if you have any, speak for themselves. Refuse to talk of another’s vices. Discourage gossip. It is a waste of valuable time and can be extremely destructive.

8. Be careful of another’s feelings. Wit and humor at the other person’s expense are rarely worth it and may hurt when least expected.

9. Pay no attention to ill-natured remarks about you. Remember, the person who carried the message may not be the most accurate reporter in the world. Simply live so that nobody will believe them. Disordered nerves and bad digestion are a common cause of backbiting.

10. Don’t be too anxious about the credit due you. Do your best, and be patient. Forget about yourself, and let others “remember.” Success is much sweeter that way.

PHOTOS OF THE DAY

Visitors look at the jellyfish swimming in a giant spherical tank at the World of Jellyfish aquarium in Prague, Czech Republic.
CREDIT: REUTERS/DAVID W CERNY

A tiny red boat carrying a lone fisherman is dwarfed as it passes through mangrove forest, sometimes transporting tourists through the vibrant forest at Cai Cai Lake, near the town of Binh Son, Vietnam.
CREDIT: TRUNG ANH/SOLENT NEWS & PHOTO AGENCY

This powerful picture shows a red deer stag standing dramatically with the British city of Bristol in the background, complete with a mural of teen environmentalist Greta Thunberg (bottom left). See SWNS story SWBRstag. This is incredible picture shows a red deer stag standing dramatically with a British city in the background. Sam Binding, 39, was walking out his dog, Barney, when he encountered the stag in the historic gardens of a stately home, Ashton Court. The deer stood dramatically with the city of Bristol, complete with mural of Greta Thunberg, in the distance behind. Sam, a web designer, decided to capture a snap of the stag so pulled out his camera – and the deer turned to look at him just as he fired off this frame.
CREDIT: SAM BINDING/SWNS.COM

Market Closes for February 04^th , 2020 

International Markets

Bonds

Currencies

Commodities

Market Commentary:
On this day in 1863, the Stockholm Stock Exchange opened for trading. The first day’s volume: 22 trades for a total of 14,105 Swedish dalers (the currency of the time).
Canada
By Kristine Owram and Bloomberg Automation
(Bloomberg) — Canadian stocks gained the most in nearly two months amid a global relief rally as China took steps to contain the coronavirus and support its economy. The S&P/TSX Composite Index added 0.8% to 17,512.73. Health-care and technology stocks led the gains. Industrials also got a boost as Bombardier Inc. jumped 18% on a report that it’s in talks to sell its business-jet unit to Textron Inc. Today, 8 of 11 sectors gained; 146 of 232 shares rose, while 85 fell.
Commodities
* Western Canada Select crude oil traded at a $18.50 discount to WTI, the narrowest gap since November, after a major oil pipeline cleared a key legal hurdle
* Spot gold tumbled 1.5%, the most since November
FX/Bonds
* The Canadian dollar strengthened 0.1% to C$1.3281 per U.S. dollar
* The 10-year government bond yield rose 7 basis points to 1.33%
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 60.1132| 1.1| 23/4
Industrials | 31.9980| 1.6| 30/1
Information Technology | 23.5089| 2.2| 8/2
Energy | 9.2740| 0.3| 15/15
Consumer Discretionary | 8.4643| 1.2| 14/3
Consumer Staples | 7.2313| 1.1| 9/2
Health Care | 5.5595| 2.6| 9/1
Communication Services | 4.8696| 0.5| 7/1
Real Estate | -1.2914| -0.2| 10/15
Utilities | -6.1375| -0.7| 4/11
Materials | -10.6218| -0.6| 17/30

US
By Jeremy Herron and Claire Ballentine
(Bloomberg) — U.S. stocks rallied the most since August, while Treasuries plunged as investors speculated the global economy will withstand any impact from the still-spreading coronavirus after China’s market sell-off eased. The S&P 500 pushed its two-day gain to 2.2% and the Nasdaq 100 Index hit an all-time high as investors piled back into risk assets after last week’s rout. European and emerging-market shares rallied. Shanghai stocks rebounded from  record $720 billion wipeout. Treasuries tumbled with gold. Copper in London halted a 14-day slide. Oil bucked the trend, erasing gains that topped 2%. In company news, Tesla Inc. extended its torrid run. Investors appear to be taking some comfort from the measures Beijing has taken to contain the virus to Hubei province and to support economic growth. Still, travel restrictions continue and business shut-downs mount, with Macau closing casinos for another two weeks.
     Bulls have focused on strong corporate earnings and assurances of support from central banks. Meanwhile, traders are also waiting for the outcome of the Iowa Caucuses, as the 2020 Democratic presidential race kicks off. Problems with the reporting process have delayed the results. “The lesson of today’s stock market rally is that while the coronavirus is a risk, it is not a material risk to the economic outlook which backstops corporate earnings always,” said Chris Rupkey, chief financial economist for MUFG Union Bank. “Coronavirus doesn’t increase the odds of a U.S. recession this year.”
Here are some key events coming up:
* The U.S. Democratic Party of Iowa on Tuesday will release results from caucuses by 5 p.m. in New York.
* Euro-zone PMI data in its final version will be released Wednesday.
* The Reserve Bank of India’s interest rate decision is due Thursday.
* The U.S. employment report for January is set for Friday release.

These are the main moves in markets:
Stocks
* The S&P 500 jumped 1.5% of 4 p.m. in New York.
* The Nasdaq 100 added 2.3% to a record.
* The Stoxx Europe 600 Index surged 1.6%.
* The MSCI All-Country World Index rose 1.6%.
* The MSCI Asia Pacific Index surged 1.4%.
Currencies
* The Bloomberg Dollar Spot Index edged lower.
* The British pound gained 0.4% to $1.304.
* The euro dropped 0.2% to $1.1043.
* The Japanese yen weakened 0.7% to 109.50 per dollar.
* The offshore yuan strengthened 0.3% to 6.9944 per dollar.
Bonds
* The yield on 10-year Treasuries gained seven basis points to 1.60%.
* The two-year yield added six basis points to 1.41%.
* Germany’s 10-year yield climbed three basis points to -0.41%.
Commodities
* West Texas Intermediate crude fell 0.9% to $49.68 a barrel.
* Gold futures weakened 1.5% to $1,558.20 an ounce.
* LME copper surged 2.2% to $5,648 per metric ton.
* Arabica coffee surged 1.7% to $1 a pound.
–With assistance from Todd White, Andreea Papuc and Ziad Daoud
(Economist).
Have a great night.

Be magnificent!
As ever,
Carolann

In the long run, the sharpest weapon of all is a kind and gentle spirit.
                                                            -Anne Frank, 1929-1945

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