August 1, 2017 Newsletter

Dear Friends,

Tangents:

Lammas: 1^st harvest, Wicca

Homou’o: hooting at hunger, Ghana

1990:World Wide Web established.
1789: U.S. Customs established.

On August 1, 1936, 100,000 saluted Adolf Hitler on his entrance at the opening of the Berlin Olympics.
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AUGUST ~ LEO, PERIDOT
                 VIRGO

The days seem to shorten.  The nights, deep and warm, grow longer.  Apples are on the trees.  The first fruits are gathered.  It’s the Celtic feast of Lugh, Christina Lammastide, when the first grains are ground and baked and placed upon the alter.  For the Celts, Lugh ordained the feast be  held in honor of his mother Tailltiu, the Earth Mother.

PHOTOS OF THE DAY

August Sunflowers, perfect for all the family on a sunny day. Cadwell Farm in Ickleford, Hertfordshire, has an unusal seasonal opportunity for the whole family to pick their own sunflowers now that the lavender is past its best, which is what the farm is more famous for. Keiko and Yuko, sisters on a day trip from Finchley in London with baby Aoi, 1
CREDIT: DAVID ROSE FOR THE TELEGRAPH

This tranquil scene shows a fisherman patiently waiting to catch trout on a perfectly still lake. The spectacular Domomiti Brenta mountain range is perfectly reflected on the body of water as the sun sets behind. The beautiful image was captured at the Adamello Brenta National Park in Italy by amateur photographer Simone Aglioni.
CREDIT: SIMONE AGLIONI/SOLENT

Two mantises face off before a dual which left only one insect standing. Perfectly balanced on the stem of a flower the two mantises prepare for battle, showing colours to warn the other of their strength. The exquisite pair were photographed in Konarak, a small city located in the south-east of Iran, by Ali Akbar Khandan, 35, who by chance came across the deadly but natural display.
CREDIT: ALI AKBAR KHANDAN/SOLENT NEWS & PHOTO AGENCY
Market Closes for August 1st, 2017

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks rose for a second day, boosted by strong earnings in the technology and industrials sectors.
     The S&P/TSX Composite Index added 58 points or 0.4 percent to close at 15,202.10. Technology shares led the way with a 3 percent gain, bolstered by a 14 percent jump at Shopify Inc. That increase was the largest since September and came as Shopify beat analysts’ revenue estimates for the ninth quarter in a row.
     Industrials added 1 percent as Air Canada jumped 9.6 percent to a record high. The airline, already Canada’s top- performing industrial stock this year, boosted its profit outlook for this year and next. WestJet Airlines Ltd. rose 3 percent following its own better-than-expected quarterly results.
     In other moves:
* Guyana Goldfields Inc. tumbled 15 percent after reporting lower grades and higher costs
* Thomson Reuters Corp. added 5.4 percent, its biggest gain since 2009, after it reported second-quarter earnings that beat analyst estimates and boosted its full-year forecast
* Hudson’s Bay Co. gained 5.1 percent. An activist investor said Monday it may call for new directors if the company ignores its suggestions for unlocking value.
US
By Samuel Potter and Jeremy Herron
     (Bloomberg) — U.S. stocks flirted with all-time highs amid the latest batch of corporate results. Treasuries climbed with the dollar as data gave mixed signals on the strength of American economic growth.
     The Dow Jones Industrial Average closed at a record and moved within reach of 22,000, while the S&P 500 Index retreated from a historic high. The Bloomberg dollar index edged up after posting a fifth straight monthly loss in July, as a reading on manufacturing last month fell short of expectations and data showed spending by U.S. consumers barely grew in June. The yield on 10-year Treasury notes slipped to 2.25 percent. Crude fell back after topping $50 a barrel.
     As economic data largely supports the global growth story and company earnings in many cases beat estimates, investors will be forgiven for diving further into a bull market that’s propelled equity markets the world over to unprecedented levels. But with valuations well above average, monetary policy poised to turn hawkish and a U.S. administration mired in controversy there remains a degree of caution in markets.
     Figures from gross domestic product and economic confidence to joblessness and manufacturing output signaled the euro-area economy was gaining steam, but it wasn’t enough to reverse a drop in the euro and most benchmark government bonds rose.
     Meanwhile, the Reserve Bank of Australia held the benchmark at 1.5 percent while warning that a rising currency is expected to subdue inflation and weigh on the outlook for growth and employment. The Aussie fluctuated, dipping below 80 U.S. cents and jumping as high as 80.43 cents.
     Here are some key upcoming events:
* Apple earnings hit after the U.S. close. Analysts expect a somewhat cautious outlook due to potential delays in the new iPhone introduction.
* Brazil’s Congress votes on Wednesday on whether to put President Michel Temer on trial.
* Bank of England Governor Mark Carney may signal a more hawkish tone at its quarterly Inflation Report on Thursday. The central bank will likely keep rates on hold.
* U.S. jobs data will probably show employers added about 180,000 workers in July. That’s Friday.
* Rate decisions are due in India (Wednesday), Czech Republic and Ukraine (Thursday), and Romania (Friday).
      And here are some of the key moves in markets:
                          Stocks
* The S&P 500 Index rose 0.2 percent, falling just short of the all-time high it reached last week.
* The Dow added 73 points to 21,963.92, a new record, and closed in on its round-number milestone.
* The MSCI All-Country World Index climbed 0.4 percent to the highest on record. * The Stoxx Europe 600 Index increased 0.6 percent.
* The MSCI Emerging Market Index gained 0.2 percent.
                          Currencies
* The Bloomberg Dollar Spot Index rose 0.2 percent.
* The euro decreased 0.3 percent to $1.1802.
* The British pound declined 0.1 percent to $1.3203.
                          Bonds
* The yield on 10-year Treasuries fell four basis points to 2.25 percent.
* Germany’s 10-year yield dropped five basis points to 0.49 percent, the lowest in a month.
* Britain’s 10-year yield slipped two basis points to 1.21 percent.
                          Commodities
* West Texas Intermediate crude fell 1.9 percent to $49.21 a barrel, the first retreat in more than a week.
* Gold was essentially unchanged at $1,269.53 an ounce.
                          Asia
* The MSCI Asia-Pacific Index rose to the highest since 2007 as equity indexes from Tokyo to Sydney advanced. Japan’s Topix index added 0.6 percent. Banks rallied after Sumitomo Mitsui Financial Group Inc. reported a 31 percent increase in net income for the June quarter.
* Australia’s S&P/ASX 200 Index closed 0.9 percent higher, while South Korea’s Kospi index ended up 0.8 percent.
* The Hang Seng Index in Hong Kong rose 0.8 percent, while the Shanghai Composite Index climbed 0.6 percent.
* The yen fell 0.2 percent to 110.49 per dollar, having climbed 1.9 percent in July.
* The Aussie dollar slipped 0.3 percent to 79.77 cents.

Have a wonderful evening everyone.

Be magnificent!

Each one has a special nature peculiar to himself which he must follow
and through which he will find his way to freedom.
Swami Vivekananda

As ever,

Carolann

The mill cannot grind with water that’s past.
–George Herbert, 1593-1633

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
www.carolannsteinhoff.com