Category: Events

Dear Friends,

Tangents:
February 8, 1672 ~ Isaac Newton reads first optics paper before Royal Society in London.
1971 NASDAQ, the world’s first electronic stock exchange, held its first trading day. Go to article »

Jules Verne, author, b.1828.
Lana Turner, actor, b. 1921.
James Dean, actor b. 1931.

A 3D-printed house is for sale in New York, and it’s the first of its kind.  Start saving up: It’s almost $300,000. 

Harvard astronomer argues that alien vessel paid us a visit.

Last fall, astronomers made the blockbuster claim that they had discovered compelling evidence of phosphine, pointing to the presence of life floating in the clouds above the second planet from the sun.
Even after lowering their estimates of how much phosphine may be present, the researchers are still certain of their findings. Many of their peers, however, remain doubtful, creating a stalemate until further observations can be made.  “There’s nothing you can point to that says, ‘Oh, yeah, we absolutely see phosphine on Venus,’” said Bryan Butler of the National Radio Astronomy Observatory in Socorro, N.M. But he added that the matter was not settled. “You know, it’s tantalizing,” he said.-NY Times.

Amanda Gorman read a new poem before the game.

Admire stark landscapes in Louisiana, where the Mississippi River meets the Gulf of Mexico.

Hear new tracks by H.E.R., Nile Rodgers and Cardi B
PHOTOS OF THE DAY
A commercial aircraft appearing like a small, black stamp on the surface of the Sun
CREDIT: ANDREW MCCARTHY/SWNS
A person walks through a snow-covered vineyard at the Mainschleife area near Nordheim, Germany.
CREDIT: KARL-JOSEF HILDENBRAND/DPA VIA AP
A bus drives along frozen trees in Oberreifenberg near Frankfurt, Germany
CREDIT: MICHAEL PROBST
Market Closes for February 8^th , 2021

Market Index	Close	Change
Dow Jones	31385.76	+237.52
		+0.76%
S&P 500	3915.59	+28.76
		+0.74%
NASDAQ	13987.641	+131.345 +0.95%
TSX	18330.26	+194.36
		+1.07%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	29388.50	+609.31
		+2.12%
HANG SENG	29319.47	+30.79
		+0.11%
SENSEX	51348.77	+617.14
		+1.22%
FTSE 100*	6523.53	+34.20 +0.53%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.012	1.000
CND. 30 Year Bond	1.588	1.588
U.S.    10 Year Bond	1.1619	1.1635
U.S. 30 Year Bond	1.9442	1.9711

Currencies

BOC Close	Today	Previous
Canadian $	0.78507	.78387
US $	1.27378	1.27572
Euro Rate 1 Euro=		Inverse
Canadian $	1.53538	0.65131
US $	1.20538	0.82962

Commodities

Gold	Close	Previous
London Gold Fix	1802.95	1785.90
Oil
WTI Crude Future	57.97	56.85

Market Commentary: NASDAQ’s fiftieth anniversary.
     On this day in 1971, after nearly a decade of preparation, the Nasdaq market opened for stock trading, as the National Association of Securities Dealers Automated Quotation system first displayed the median price for more than 2,500 “over-the-counter” securities. The Nasdaq Composite Index was set at an initial value of 100.
Canada
By Michael Bellusci
(Bloomberg) — Canadian stocks rose to a record high Monday, gaining for a sixth-straight session. The S&P/TSX Composite Index rose 1%, with ten of eleven sectors higher. Utilities were the only laggard. The Horizons Marijuana Life Sciences ETF rose 7.3% to its highest level since September 13. Oil in London rose above $60 a barrel for the first time in more than a year in a rally that’s dividing the world’s top oil trading houses. Ontario will gradually lift stay-at-home orders across the province, Premier Doug Ford said Monday, and will allow limited in-person shopping at retailers even in zones with the most Covid-19 cases.
Commodities
* Western Canadian Select crude oil traded at a $10.50 discount to West Texas Intermediate
* Spot gold rose 0.9% to $1,830.07 an ounce
FX/Bonds
* The Canadian dollar rose 0.1% to C$1.2746 per U.S. dollar
* The 10-year Canada government bond yield rose 1.4 basis points to 1.014%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the sixth day, climbing 1.1 percent, or 194.36 to 18,330.26 in Toronto. Shopify Inc. contributed the most to the index gain, increasing 4.5 percent. Aurora Cannabis Inc. had the largest increase, rising 15.8 percent. Today, 158 of 220 shares rose, while 61 fell; 10 of 11 sectors were higher, led by information technology stocks.
Insights
* The index advanced 3.8 percent in the past 52 weeks. The MSCI
AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0 percent below its 52-week high on
Feb. 8, 2021 and 64.1 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 3.6 percent in the past 5 days and rose 1.6 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
27 on a trailing basis and 17.4 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.81t
* 30-day price volatility rose to 14.03 percent compared with
13.73 percent in the previous session and the average of 10.18 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 61.3799| 3.1| 8/2
Materials | 41.7463| 1.8| 44/7
Financials | 31.7742| 0.6| 19/6
Energy | 30.0894| 1.4| 21/1
Health Care | 15.9755| 5.3| 7/2
Communication Services | 4.5446| 0.5| 7/0
Industrials | 4.0079| 0.2| 16/13
Consumer Staples | 2.8582| 0.4| 9/2
Real Estate | 1.5335| 0.3| 12/14
Consumer Discretionary | 1.1223| 0.2| 8/5
Utilities | -0.6556| -0.1| 7/9
US
By Adam Haigh and Anchalee Worrachate
(Bloomberg) — Rising prospects for a robust federal spending package, coupled with a slowdown in virus infection rates, sent U.S. stocks higher for the sixth straight session. The S&P 500 Index rose 0.7% to an all-time high, spurred by fresh signs the Biden administration is committed to passing a sizable aid bill to address unemployment. An increase in vaccination numbers boosted optimism that the economy will take off later this year. Treasuries started the day lower, but mostly erased losses on speculation recent declines had gone too far with the latest economic data showing some weakness. Commodities prices pointed to renewed optimism in the global economic recovery. Brent oil advanced above $60 a barrel for the first time in more than a year, while copper climbed for a second day and iron ore prices rebounded.        Bitcoin jumped to a record after Tesla Inc. bought $1.5 billion of the cryptocurrency.
“As people feel safer, investors can expect the economy to experience a rebound that should contribute to revenue and earnings growth as the economy reflates,” John Stoltzfus, chief investment strategist at Oppenheimer, wrote to clients. In Europe, Italian equities outperformed as Mario Draghi set about forming a new national government. Dialog Semiconductor Plc shares jumped after the company agreed to be acquired by Renesas Electronics Corp. In Japan, the Topix index ended Monday at the highest since 1991 amid reports the government may lift its state of emergency early for some areas. Investors are taking comfort from the continued rollout of vaccines and data suggesting a declining trend in infections in countries like the U.S. A Citigroup Inc. gauge of global risk aversion dropped to its lowest since the pandemic first roiled markets last year.
Weaker-than-forecast U.S. jobs data Friday reinforced economic risks as the pandemic lingers, but also highlighted the case for further stimulus. “The vaccine roll-out programs certainly suggest that the reflation trade has legs but central banks seem to want to ensure that expectations are kept in check,” Jane Foley, head of foreign exchange strategy at Rabobank, said on Bloomberg TV. “This suggests a choppy ride.” President Joe Biden is pushing for a mammoth $1.9 trillion economic relief measure. Some commentators, such as former Treasury Secretary Larry Summers, have raised questions about the size of the package and risks such as much faster inflation.
Here are some key events coming up:
* Earnings season continues with companies including Honda
Motor, Cisco Systems, Societe Generale and L’Oreal.
* EIA crude oil inventory report comes Wednesday.
* Sweden will set monetary policy on Wednesday.
* Federal Reserve Chair Jerome Powell will speak on a webinar Wednesday.
* The U.S. consumer price index comes Wednesday.
* Lunar New Year public holidays begin in nations across Asia, with China breaking for a week.
* Bank of Russia’s policy decision comes Friday.

These are the main moves in markets
Stocks
* The S&P 500 Index increased 0.7% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index gained 0.3%.
* The MSCI Asia Pacific Index rose 0.9%.
* The MSCI Emerging Market Index climbed 0.3%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%.
* The euro was little changed at $1.2051.
* The onshore yuan strengthened 0.3% to 6.4486 per dollar.
* The Japanese yen weakened 0.2% to 105.21 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 1.17%.
* The yield on two-year Treasuries climbed less than one basis point to 0.11%.
* The 30-year rate fell one basis point to 1.96%.
* Germany’s 10-year yield was little changed at -0.45%.
* Britain’s 10-year yield fell one basis point to 0.47%.
* Japan’s 10-year yield rose one basis point to 0.071%.
Commodities
* West Texas Intermediate crude gained 2% to $58 a barrel.
* Brent crude gained 2.1% to $60.60 a barrel.
* Gold futures strengthened 1% to $1,831.98 an ounce.
–With assistance from Saket Sundria.
Have  a great night.

Be magnificent!
As ever,

Carolann

Mediocrity knows nothing higher than itself, but talent
instantly recognizes genius. –Sir Arthur Conan Doyle, 1859-1930

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.

February 5, 1969 – US population reaches 200 million.
1988 – Panamanian military leader Gen. Manuel Noriega was indicted on bribery and drug trafficking charges in Florida.  Go to article »

Long-haul travel might not resume until 2023.
Childhood diet has a lifelong impact.

Super Bowl Sunday!
Tom Brady, who’s 43 years old, is the most successful quarterback in N.F.L. history. But if any player has a chance to match him someday, it’s Patrick Mahomes, Brady’s 25-year-old counterpart in this weekend’s Super Bowl. “The sport’s biggest legend is about to face its biggest legend in the making,” The Ringer’s Danny Heifetz wrote. -The New York Times.

Super Bowl LV will be a bonanza for gambling companies this weekend.  Chiefs or Bucs, who ya got? 

from The Late Night Hosts:
“So he’s now out of the actors’ union. That’s too bad — I was positive he was going to be the next James Bond.” — JIMMY KIMMEL

“Meanwhile, Melania heard and was like, ‘Um, Donald, while we’re on the subject of leaving unions.’” — JIMMY FALLON

 

February is Black History Month, and every day we’re highlighting Black pioneers in American history. -CNN  Amelia Boynton Robinson, civil rights icon, 1911-2015   Robinson was known as the “the matriarch of the voting rights movement.” A shocking photo of her being beaten by White police officers during the Bloody Sunday march in 1965 in Selma, Alabama, horrified the nation and led to the passage of the Voting Rights Act. It also showed Robinson’s true grit. As far back as the 1930s, she was registering Black voters in Alabama, an act that could have cost her life. In 1964, she became the first African American woman to run for Congress in Alabama.

PHOTOS OF THE DAY

A stockbreeder walks with his flock through the snow in the Gurpinar district of Van, Turkey
CREDIT: MESUT VAROL/ANADOLU AGENCY VIA GETTY IMAGES

Joe and Luke Furguson have been fossil hunting since they were children and have an impressive collection, but this latest find is their best yet. They found this 60lb humerus bone, thought to be from a straight-tusked elephant or mammoth, near Brighstone Beach on the Isle of Wight after weather eroded a cliff
CREDIT: PAUL JACOBS

Sparkling snowboarding suits, tutus and headgear are all created by the LED clothing company SER Brothers. Creator Egor Krukovich
CREDIT: SER BROTHERS / SWNS.COM
Market Closes for February 5^th, 2021 

 

Market Index	Close	Change
Dow Jones	31148.24	+92.38
		+0.30%
S&P 500	3886.83	+15.09
		+0.57%
NASDAQ	13856.296	+78.553 +0.57%
TSX	18135.90	+93.93
		+0.52%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28779.19	+437.24
		+1.54%
HANG SENG	29288.68	+175.18
		+0.60%
SENSEX	50731.63	+117.34
		+0.23%
FTSE 100*	6489.33	-14.39 -0.22%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.000	.963
CND. 30 Year Bond	1.588	1.544
U.S.    10 Year Bond	1.1635	1.1392
U.S. 30 Year Bond	1.9711	1.9383

Currencies

BOC Close	Today	Previous
Canadian $	.78387	.77973
US $	1.27572	1.28249
Euro Rate 1 Euro=		Inverse
Canadian $	1.53697	.65063
US $	1.20478	.83002

Commodities

Gold	Close	Previous
London Gold Fix	1785.90	1835.45
Oil
WTI Crude Future	56.85	56.23

Market Commentary:
     On this day in 1637, “Tulipmania” hit its peak in the Netherlands, with the price of the rare Witte Croonen tulip bulb reaching 1,345 guilders per half-pound, up 2,506% in 33 days. Over the next five years, the bulbs lost an annual average of 76% of their value, until they fetched only 37.5 guilders in 1641.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets climbed to a fresh record on Friday, with materials and tech stocks leading the way. The S&P/TSX Composite index rose 0.5% in Toronto. The benchmark advanced 4.6% in the past five days, the biggest weekly gain since April 2020. Meanwhile, the newest wave of Covid lockdowns in Canada is having little impact outside close-contact sectors like retail, easing worries about spillover effects and long-term scarring from the restrictions.
Commodities
* Western Canadian Select crude oil traded at a $10.40 discount to West Texas Intermediate
* Spot gold rose 0.9% to $1,810.53 an ounce
FX/Bonds
* The Canadian dollar rose 0.5% to C$1.2767 per U.S. dollar
* The 10-year Canada government bond yield rose 4 basis points to 0.997%
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the fifth day, climbing 0.5 percent, or 93.93 to 18,135.90 in Toronto. Shopify Inc. contributed the most to the index gain, increasing 1.8 percent. Eldorado Gold Corp. had the largest increase, rising 12.0 percent. Today, 141 of 220 shares rose, while 76 fell; 8 of 11 sectors were higher, led by materials stocks.
Insights
* So far this week, the index rose 4.6 percent, heading for the biggest advance since the week ended April 10
* The index advanced 2.7 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 0.1 percent below its 52-week high on
Feb. 5, 2021 and 62.3 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.8 on a trailing basis and 17.3 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.79t
* 30-day price volatility rose to 13.73 percent compared with
13.68 percent in the previous session and the average of 9.84 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 43.3307| 1.9| 44/6
Information Technology | 28.6214| 1.5| 6/4
Industrials | 12.8779| 0.6| 16/13
Financials | 9.9726| 0.2| 18/7
Energy | 6.3769| 0.3| 16/6
Utilities | 1.7523| 0.2| 9/7
Real Estate | 1.6605| 0.3| 13/12
Consumer Discretionary | 0.4359| 0.1| 8/5
Communication Services | -1.5215| -0.2| 5/2
Health Care | -2.1584| -0.7| 4/5
Consumer Staples | -7.4229| -1.1| 2/9
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks extended their weekly rally after weaker-than-forecast U.S. jobs data bolstered the case for President Joe Biden’s $1.9 trillion coronavirus relief package.  The dollar fell. The House adopted the budget resolution that cleared the Senate early Friday, paving the way to pass a stimulus bill in coming weeks with only Democratic votes. The S&P 500 climbed to another record in its best week since November as all of its major groups but tech rose. The surge in GameStop Corp. after Robinhood Markets Inc. removed limits on buying the stock did little to repair the video-game retailer’s weekly plunge of about 80%. Two-year Treasury note yields matched their record low amid a drop across shorter-dated rates. The recovery in the U.S. labor market disappointed for a second month as modest job growth highlighted the persistently difficult prospects for millions of unemployed Americans.
Nonfarm payrolls increased by just 49,000 after a downwardly revised 227,000 December drop, strengthening the case for another relief package. President Biden gave the strongest indication yet he’ll push for stimulus without Republican support, saying Friday’s weak economic data show the risk of doing “too little.” “The market is going to be in a bad news is good news scenario — bad news is temporary and likely to be met with additional support,” said Steve Chiavarone, portfolio manager and equity strategist at Federated Hermes. “Many investors would have a very hard time selling a market when they know vaccination is coming and they know additional stimulus is coming. It’s just really hard to sell that.” In corporate news, Pinterest Inc. surged as the digital scrapbooking and search company reported sales that topped estimates. In the meantime, Peloton Interactive Inc. sank after saying said it can’t keep up with surging demand for its exercise machines and warning that profit will be squeezed.

These are some of the main moves in markets:
Stocks
* The S&P 500 climbed 0.4% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index was unchanged.
* The MSCI Asia Pacific Index increased 0.9%.
Currencies
* The Bloomberg Dollar Spot Index decreased 0.6%.
* The euro climbed 0.7% to $1.2046.
* The Japanese yen strengthened 0.1% to 105.40 per dollar.
Bonds
* The yield on 10-year Treasuries rose three basis points to 1.17%.
* Germany’s 10-year yield advanced one basis point to -0.45%.
* Britain’s 10-year yield increased four basis points to 0.482%.
Commodities
* West Texas Intermediate crude climbed 1.4% to $57.03 a barrel.
* Gold rose 1% to $1,811.97 an ounce.
* Silver added 2.1% to $26.90 per ounce.

–With assistance from Adam Haigh, Robert Brand, Cecile Gutscher, Claire Ballentine, Sophie Caronello and Nancy Moran.

Have a wonderful weekend everyone.

Be magnificent!

As ever,

Carolann

Too bad ninety percent of the politicians
give the other ten percent a bad reputation.  -Henry Kissinger, b. 1923

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

1977 The album “Rumours” by Fleetwood Mac was released. Go to article »

Archaeologists unearth Egyptian mummies with golden tongues.  Put those back! This is how horror movies start! 

Archaeologists in Israel find purple fabric from the time of King David. (h/t Ellen Kominers) 

Five minutes to make you love string quartets.

And finally, wisdom from an internet prophet. 
You may never have heard of Michael Goldhaber, but the former theoretical physicist saw the dominance of the internet coming in the 1980s.
He helped frame the idea of the “attention economy,” which has expanded, writes the Times Opinion columnist Charlie Warzel, to the point that “any discussion of power is now, ultimately, a conversation about attention and how we extract it, wield it, waste it, abuse it, sell it, lose it and profit from it.”
Now 78, Mr. Goldhaber sees examples ranging from the Trump presidency to the welter of influencers and news outlets that, surrounding Jan. 6, amplified increasingly dangerous conspiracy theories on platforms designed to encourage outrage: “It felt like an expression of a world in which everyone is desperately seeking their own audience and fracturing reality in the process.”
It’s only going to accelerate, he said, so why not practice a little more intent in allocating our attention?

PHOTOS OF THE DAY
Gardeners clear a path through the first snowdrops of the season at English Heritage’s Audley End House and Gardens in Saffron Waldon, Essex
CREDIT: JOE GIDDENS/PA
Russell and Michelle Hoyer try to find their driveway under the snow in Mt. Arlington, New jersey, USA.
CREDIT: SETH WINIG/AP
Conservator Keith Barley MBE works on large stained glass windows from All Saints North Street Church at Barley Studio in York. The windows of All Saints North Street Church, York, date to the 14th and 15th centuries, and comprise some of the finest medieval glass in the country
CREDIT: DANNY LAWSON/PA

Market Closes for February 4^th, 2021 

Market Index	Close	Change
Dow Jones	31055.86	+332.26
		+1.08%
S&P 500	3871.74	+41.57
		+1.09%
NASDAQ	13777.743	+167.200 +1.23%
TSX	18041.97	+126.06
		+0.70%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28341.95	-304.55
		-1.06%
HANG SENG	28341.95	-304.55
		-1.06%
SENSEX	50614.29	+358.54
		+0.71%
FTSE 100*	6503.72	-4.10 -0.06%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.963	.949
CND. 30 Year Bond	1.544	1.520
U.S.    10 Year Bond	1.1392	1.1374
U.S. 30 Year Bond	1.9383	1.9252

Currencies

BOC Close	Today	Previous
Canadian $	.77973	.78237
US $	1.28249	1.27817
Euro Rate 1 Euro=		Inverse
Canadian $	1.53459	.65164
US $	1.19657	.83572

Commodities

Gold	Close	Previous
London Gold Fix	1835.45	1833.10
Oil
WTI Crude Future	56.23	55.69

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 Aoyon Ashraf
(Bloomberg) — Canadian equities rose for a fourth day, closing within a whisker of the Jan. 8 record high, as technology and consumer stocks soared. The S&P/TSX Composite index rose 0.7% to 18,041.97, just shy of all-time high of 18,042.07. The move was led by Canada Goose, which was the best-performing stock on the index. The parka maker rose 22% on Thursday after revenue and earnings for its key quarter came in well above analysts’ estimates. Meanwhile, job losses in Canada probably slowed last month in another sign the nation’s economy is handling the current wave of lockdowns better than it did last year.
Commodities
* Western Canadian Select crude oil traded at an $11.60 discount to West Texas Intermediate
* Spot gold fell 2.2% to $1,793.57 an ounce
FX/Bonds
* The Canadian dollar fell 0.3% to C$1.2824 per U.S. dollar
* The 10-year Canada government bond yield rose to 0.966%
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the fourth day, climbing 0.7 percent, or 126.06 to 18,041.97 in Toronto. The index advanced to the highest closing level since Jan. 8. Shopify Inc. contributed the most to the index gain, increasing 3.4 percent. Canada Goose Holdings Inc. had the largest increase, rising 22.4 percent. Today, 129 of 220 shares rose, while 85 fell; 9 of 11 sectors were higher, led by financials stocks.
Insights
* So far this week, the index rose 4.1 percent, heading for the biggest advance since the week ended Nov. 6
* The index advanced 3 percent in the past 52 weeks. The MSCI AC
Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0.2 percent below its 52-week high on
Feb. 4, 2021 and 61.5 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 2.2 percent in the past 5 days and rose 2.9 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.5 on a trailing basis and 17.2 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.77t
* 30-day price volatility rose to 13.68 percent compared with
13.56 percent in the previous session and the average of 9.62 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 44.9581| 0.8| 21/5
Information Technology | 39.1733| 2.0| 6/4
Energy | 19.1198| 0.9| 18/4
Consumer Staples | 8.5728| 1.3| 8/3
Communication Services | 7.5409| 0.9| 3/3
Industrials | 7.0249| 0.3| 20/9
Consumer Discretionary | 6.7525| 1.0| 9/4
Utilities | 4.3358| 0.5| 7/8
Real Estate | 3.8637| 0.7| 20/5
Health Care | -2.3118| -0.8| 3/6
Materials | -12.9621| -0.6| 14/34
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks extended their rally into a fourth day as traders parsed through a flurry of corporate results amid signs the U.S. labor market may be gradually improving. The dollar rose. The S&P 500 climbed to a record, led by banks and tech shares, as the Russell 2000 Index jumped 2%. EBay Inc. and PayPal Holdings Inc. surged on upbeat forecasts, while Netflix Inc. gained after raising the price of its service in Japan. Meanwhile, GameStop Corp. plunged as day traders flocked to other stocks like drug developers, and Nordstrom Inc. slid after announcing plans to win back customers — a sign that Wall Street may have expected a more comprehensive overhaul. A widely watched segment of the Treasury yield curve steepened to levels last seen in 2015. The bull market in U.S. stocks remains on “solid footing” as the rebound in activity and corporate profits alongside an accommodative Federal Reserve create a supportive environment for equities, according to UBS Group AG.
A report Thursday showed jobless claims fell to the lowest since November, and the next major update on the economy comes on Friday – with analysts forecasting the labor market added about 100,000 jobs in January after a 140,000 drop in December. Selected high-frequency data, such as weekly consumer-confidence readings, also point to some strengthening. “We certainly seem to have shifted our focus back to fundamentals,” said Arthur Hogan, chief market strategist at National Securities Corp. “The virus news is getting incrementally better at the very same time that the earnings season and economic data seem to be showing some improvement. Markets are actually focusing on what we’re supposed to be focused on and less concerned about the machinations of getting fiscal policy out and what’s going on in Reddit-land. ”The Reddit fueled rumble in the U.S. stock market may have heightened fears of another burst of volatility, according to options data tracked by Bloomberg. Over the last two weeks, the Cboe Volatility Index’s futures curve has shifted markedly higher, showing a pronounced peak in April before a gradual decline. The move suggests investors expect more volatility in the short-term amid concerns about extended valuations, the pace of the vaccine rollout and the impact of retail-trading activity.

These are some of the main moves in markets:
Stocks
* The S&P 500 increased 1.1% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index rose 0.6%.
* The MSCI Asia Pacific Index decreased 0.7%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.4%.
* The euro dipped 0.6% to $1.1965.
* The Japanese yen depreciated 0.5% to 105.55 per dollar.
Bonds
* The yield on 10-year Treasuries fell less than one basis point to 1.14%.
* Germany’s 10-year yield climbed one basis point to -0.45%.
* Britain’s 10-year yield jumped seven basis points to 0.44%.
Commodities
* West Texas Intermediate crude rose 1% to $56.26 a barrel.
* Gold lost 2.1% to $1,794.80 an ounce.
* Silver fell 2% to $26.35 per ounce.
–With assistance from Vivien Lou Chen, Adam Haigh, Cecile Gutscher, Yakob Peterseil, Cormac Mullen and Claire Ballentine.

Have a great night.

Be magnificent!
As ever,

Carolann

You wouldn’t worry so much about what others think of you
if you realized how seldom they do. -Eleanor Roosevelt, 1884-1962

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:  1971 –  Apollo 14 astronauts Alan B. Shepard Jr. and Edgar D. Mitchell landed on the lunar surface during the third successful manned mission to the moon. Go to article »

1947 – Coldest North American temperature recorded -81℉, Yukon Territories, Canada.
Gertrude Stein, writer, b. 1874.  “A rose is a rose is a rose.”
Simone Weil, mystic, b. 1909. “To be rooted is perhaps the most important and least recognized need of the human soul.”

On the  Impeachment, the Late Night Hosts:
“After that, Trump’s legal team filed a brief that claims that he isn’t responsible. It wasn’t that hard to write. His lawyers just copied and pasted his defense from the last impeachment: Control-F ‘Ukraine,’ replace with ‘riot.’” — JIMMY FALLON

“On the very first page of their first legal filing, they wrote, ‘to the honorable members of the Unites States Senate.’ They misspelled ‘United States.’ And we’re off!” — JIMMY KIMMEL

“There was actually a typo on the first page of the Trump brief, but I’m sure it was a long, complicated legal term. Nope, it’s just — just the name of our country, that’s it.” — JIMMY FALLON

“Yes, the ‘Unites States Senate,’ both Republicarnts and Democrabs.” — STEPHEN COLBERT

PHOTOS OF THE DAY

The SpaceX Starship SN9 explodes into a fireball after its high altitude test flight from test facilities in Boca Chica, Texas, U.S
CREDIT: GENE BLEVINS/REUTERS
A woman takes a selfie under festive decorations for the upcoming Lunar New Year outside a shopping mall in Bangkok, Thailand
CREDIT: MLADEN ANTONOV/AFP VIA GETTY IMAGES
Well-known ice-cream seller Pasquale Marucci has a funeral with a convoy of ten ice-cream vans in  Eastleigh, Hampshire
CREDIT: PAUL JACOBS
Cawdor Estate near Nairn in Scotland posted this photo of snow drifts higher than their Toyota Hilux
CREDIT: MIKE MERRITT

Market Closes for February 3^rd, 2021 

Market Index	Close	Change
Dow Jones	30723.60	+36.12
		+0.12%
S&P 500	3830.17	+3.86
		+0.10%
NASDAQ	13610.543	-2.234 -0.02%
TSX	17915.91	+41.42
		+0.23%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28646.50	+284.33
		+1.00%
HANG SENG	29307.46	+58.76
		+0.20%
SENSEX	50255.75	+458.03
		+0.92%
FTSE 100*	6507.82	-8.83 -0.14%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.949	.905
CND. 30 Year Bond	1.520	1.482
U.S.    10 Year Bond	1.1374	1.0963
U.S. 30 Year Bond	1.9252	1.8694

Currencies

BOC Close	Today	Previous
Canadian $	.78237	.78210
US $	1.27817	1.27861
Euro Rate 1 Euro=		Inverse
Canadian $	1.53893	.64980
US $	1.20401	.83055

Commodities

Gold	Close	Previous
London Gold Fix	1833.10	1862.95
Oil
WTI Crude Future	55.69	54.76

Market Commentary:
     On this day in 1964, a direct feed to the stock ticker at the New York Stock Exchange was extended overseas for the first time, as Switzerland got a real-time link to follow share prices in New York.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets extended their gains into third day, helped by outperformance in pot stocks. The S&P/TSX Composite index rose 0.2% in Toronto, bringing its climb in the last three days to 3.3%. Marijuana stocks in the health care sector led the gains after GW Pharmaceuticals agreed to be acquired by Jazz Pharmaceuticals for $7.2 billion in cash and stock. Aphria, Canopy Growth and Cronos were among the best performers on the TSX. Meanwhile, Bank of Canada Deputy Governor Lawrence Schembri said the central bank’s research suggests any adjustments to the inflation targeting mandate should be incremental. “Maybe
there’s an opportunity to overshoot the target a little bit or tolerate an overshoot if we want to be aggressive in reducing the risk of being at the effective lower bound,” Schembri said. “We might be willing to tolerate a small overshoot or, like the Fed has done, actually aim for an overshoot. And that’s a question we are pondering right now.”
Commodities
* Western Canadian Select crude oil traded at a $11.50 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,833.83 an ounce
FX/Bonds
* The Canadian dollar was flat at C$1.2782 per U.S. dollar
* The 10-year Canada government bond yield rose 4 basis points to 0.948%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the third day, climbing 0.2 percent, or 41.42 to 17,915.91 in Toronto. The index advanced to the highest closing level since Jan. 21. Today, energy stocks led the market higher, as 6 of 11 sectors gained; 118 of 220 shares rose, while 100 fell. Canadian Natural Resources Ltd. contributed the most to the index gain, increasing 3.6 percent. ATS Automation Tooling Systems Inc. had the largest increase, rising 14.1 percent.
Insights
* The index advanced 3.1 percent in the past 52 weeks. The MSCI
AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0.8 percent below its 52-week high on
Jan. 8, 2021 and 60.4 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 2.8 percent in the past 5 days and rose 2.8 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.4 on a trailing basis and 17.1 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.77t
* 30-day price volatility fell to 13.56 percent compared with
13.58 percent in the previous session and the average of 9.44 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 35.6595| 1.7| 20/1
Health Care | 15.6183| 5.4| 6/3
Materials | 13.4173| 0.6| 33/18
Financials | 13.3824| 0.3| 18/7
Consumer Discretionary | 5.6925| 0.8| 9/4
Consumer Staples | 1.1298| 0.2| 3/8
Communication Services | -0.4708| -0.1| 4/3
Utilities | -2.4540| -0.3| 8/8
Real Estate | -5.1252| -0.9| 3/23
Industrials | -15.3756| -0.7| 10/19
Information Technology | -20.0477| -1.0| 4/6
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks almost wiped out their advance as a drop in technology and retail shares dragged down the Nasdaq 100. Treasuries retreated. Oil climbed. The S&P 500 closed with a small gain following its biggest two-day rally in almost three months. Energy and financial shares outpaced tech even after Google’s parent Alphabet Inc. hit a record on stellar results, while Amazon.com Inc. slumped. Banks climbed as JPMorgan Chase & Co. and Morgan Stanley issued bullish calls on the industry. GameStop Corp., the poster child for Redditors looking to squeeze short sellers, and movie- theater chain AMC Entertainment Holdings Inc. rebounded following Tuesday’s plunge.
After the close of regular trading, Qualcomm Inc. slumped as the biggest maker of chips that connect smartphones to wireless networks reported disappointing revenue. EBay Inc. climbed as profit topped Wall Street estimates. A widely watched segment of the Treasury yield curve reached its steepest level in almost five years even as the U.S. decided not to increase auction sizes for long-maturity notes and bonds at next week’s quarterly refunding sales. Data showed companies added more jobs than forecast in January, while growth at service providers accelerated. The scattered signs of a pickup in activity come as President Joe Biden tries to win congressional passage of a $1.9 trillion stimulus proposal. Federal Reserve Bank of St. Louis President James Bullard said stock prices reflect optimism about the economic recovery. “There has been a ton of noise in the stock market these past few weeks, so it’s encouraging to see solid economic reads,” said Mike Loewengart, managing director of investment strategy at E*Trade Financial Corp. “There may be signs of overextension when it comes to single stocks, but under the surface there is an economy regaining serious momentum.” Normalcy has yet to return to the Cboe Volatility Index even after its biggest two-day decline in about three years.
Tuesday’s close was 31% higher than the average since VIX calculations began in 1990, according to data compiled by Bloomberg. There hasn’t been a below-average close in about a year. VIX futures are indicating that “volatility will remain elevated for many months,” Nicholas Colas, co-founder of DataTrek Research LLC, wrote Tuesday in a report. Elsewhere, crude climbed as OPEC+ said it will keep pushing to quickly clear the oil surplus left behind by the pandemic — a bullish signal for prices that have already surged to a one-year high.
These are some key events coming up:
* The Bank of England sets rates on Thursday and an Indian central bank policy decision is due Friday.
* The U.S. January payrolls report is due Friday, providing a first look at hiring in 2021.

These are some of the main moves in markets:
Stocks
* The S&P 500 advanced 0.1% at 4 p.m. New York time.
* The Stoxx Europe 600 Index climbed 0.3%.
* The MSCI Asia Pacific Index increased 1.1%.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro dipped 0.1% to $1.2035.
* The Japanese yen was little changed at 105.02 per dollar.
Bonds
* The yield on 10-year Treasuries rose three basis points to 1.13%.
* Germany’s 10-year yield climbed three basis points to -0.46%.
* Britain’s 10-year yield jumped two basis points to 0.371%.
Commodities
* West Texas Intermediate crude increased 2% to $55.85 a barrel.
* Gold lost 0.2% to $1,833.85 an ounce.
* Silver rose 0.6% to $26.83 per ounce.
–With assistance from Andres Guerra Luz, Adam Haigh, Yakob Peterseil, David Wilson, Claire Ballentine and Kamaron Leach.
Have a great night.

Be magnificent!
As ever,

Carolann

To acquire knowledge, one must study; but to acquire wisdom,
one must observe. -Marilyn Vos Savant, b. 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: Ground Hog Day.
Happy Groundhog Day! Will we get more winter? Will we get an early spring? Will we ever spell “Punxsutawney Phil” correctly on the first try? –CNN.
Imbolc: Wiccan Feast of Torches.
Candlemas

James Joyce, author, b. 1882:  Mistakes are the portals of discovery. -James Joyce.
Ayn Rand, author, b. 1905: The question isn’t who is going to let me; it’s who is going to stop me.
                                       When I die, I hope to go to Heaven, whatever the Hell that is.― Ayn Rand.
W.H. Auden, poet, b. 1907. How should we like it were stars to burn
                                        With a passion for us we could not return?
                                        If equal affection cannot be,
                                        Let the more loving one be me.

On Feb. 2, 1943, the remainder of Nazi forces from the Battle of Stalingrad surrendered in a major victory for the Soviets in World War II.  Go to article »

Welcoming the year of the Ox:  If there’s one occasion to prepare dumplings from scratch, wrappers and all, it’s the Lunar New Year, which starts Feb. 12. Everyday dumplings take on special significance for the holiday, symbolizing good fortune for the year ahead and assuring family unity.  The more immediate reward comes from the process of making them, writes our Food editor Genevieve Ko, who describes a therapeutic project “that lulls like rowing on a still lake.” Try her crisp dumplings, or tang yuan — chewy balls with black sesame filling that simmer in sweet ginger soup. –The NY Times.

The Late Night Hosts Weigh In on Trump’s Legal defense teams:
“Trump suddenly found himself without any legal representation, which is still a huge improvement over being represented by Rudy Giuliani.” — JAMES CORDEN

“Trump was furious — not that they quit, that he couldn’t fire them on Twitter.” — JIMMY FALLON

“A source close to the ex-president described it as a ‘mutual decision.’ Oh, totally mutual! ‘No, Carol did not divorce me — we divorced me. We also agreed that the lawn
was the perfect place for all my shirts.’” — STEPHEN COLBERT

Colbert said, “the former president cruised some dark alleys of the legal world and scooped up two new lawyers,” Bruce Castor and David Schoen.
“Now these guys have a lot in common. When he was a Pennsylvania D.A. in 2005, Castor declined to prosecute Bill Cosby as part of a ‘secret agreement,’ although it is possible Castor did not know, and Cosby just dropped the secret agreement into his drink.” — STEPHEN COLBERT

PHOTOS OF THE DAY
Groundhog Club handler A.J. Dereume holds Punxsutawney Phil, the weather prognosticating groundhog, during the 135th celebration of Groundhog Day on Gobbler’s Knob in Punxsutawney, Pa
CREDIT: BARRY REEGER/AP
A train crosses Knaresborough Viaduct in North Yorkshire after snow fell overnight
CREDIT:DANNY LAWSON/PA
A couple walks over the Williamsburg Bridge into Manhattan
CREDIT: ANDREW KELLY/REUTERS
A surfer rides a wave off Ondarreta Beach at dawn in San Sebastian, Basque Country, northern Spain
CREDIT:JAVIER ETXEZARRETA/EPA-EFE/SHUTTERSTOCK
Market Closes for February 2^nd, 2021 

Market Index	Close	Change
Dow Jones	30687.48	+475.57
		+1.57%
S&P 500	3826.31	+52.45
		+1.39%
NASDAQ	13612.777	+209.382 +1.56%
TSX	17874.49	+182.04
		+1.03%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28362.17	+271.12
		+0.97%
HANG SENG	29248.70	+355.84
		+1.23%
SENSEX	49797.72	+1197.11
		+2.46%
FTSE 100*	6516.65	+50.23 +0.78%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.905	.884
CND. 30 Year Bond	1.482	1.468
U.S.    10 Year Bond	1.0963	1.0792
U.S. 30 Year Bond	1.8694	1.8518

Currencies

BOC Close	Today	Previous
Canadian $	.78210	.77787
US $	1.27861	1.28556
Euro Rate 1 Euro=		Inverse
Canadian $	1.53931	.64964
US $	1.20389	.83064

Commodities

Gold	Close	Previous
London Gold Fix	1862.95	1863.80
Oil
WTI Crude Future	54.76	53.55

Market Commentary:
     On this day in 1869, in the first warning sign of the coming Panic of 1869, a New York newspaper reported that an IRS auditor has discovered that trustees of several city churches had taken $2 million in ecclesiastical trust funds and used them to speculate in stocks, and several parishes had taken out mortgages on their church buildings to answer margin calls.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian shares climbed for the second day as pot stocks continued to outperformed after U.S. Democratic senators said they would pursue “comprehensive cannabis reform” in early 2021. The S&P/TSX Composite index rose 1% in Toronto, led by cannabis health care stocks. Materials were the worst performers, as the buying frenzy that sent silver to an eight-year high stalled out. Meanwhile, Prime Minister Justin Trudeau announced plans to manufacture Novavax Inc.’s Covid-19 vaccine in Canada, making it the first coronavirus shot that will be produced in the country.
Commodities
* Western Canadian Select crude oil traded at a $11.25 discount to West Texas Intermediate
* Spot gold fell 1.3% to $1,835.85 an ounce
FX/Bonds
* The Canadian dollar rose 0.4% to C$1.2796 per U.S. dollar
* The 10-year Canada government bond yield rose to 0.908%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite is rising for the second day, climbing 1.1 percent, or 199.2 to 17,891.65 in Toronto. In midday trading, information technology stocks led the market higher, as 10 of 11 sectors gained; 144 of 221 shares rose, while 73 fell. Shopify Inc. contributed the most to the index gain, increasing 6.6 percent. Cronos Group Inc. had the largest increase, rising 11.9 percent.
Insights
* The index advanced 3.3 percent in the past 52 weeks. The MSCI AC Americas Index gained 20 percent in the same period
* The S&P/TSX Composite is 0.9 percent below its 52-week high on Jan. 8, 2021 and 60.1 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.6 percent in the past 5 days and rose 2.6 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.3 on a trailing basis and 17.1 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.74t
* 30-day price volatility rose to 13.65 percent compared with
13.42 percent in the previous session and the average of 9.26 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 74.9508| 4.0| 9/1
Financials | 71.9059| 1.4| 23/3
Industrials | 49.9108| 2.3| 27/2
Energy | 17.3113| 0.8| 15/5
Health Care | 14.5522| 5.3| 6/2
Utilities | 12.8803| 1.4| 14/2
Consumer Discretionary | 10.0730| 1.5| 11/2
Communication Services | 8.9926| 1.0| 7/0
Real Estate | 3.8777| 0.7| 22/3
Consumer Staples | 0.2549| 0.0| 3/8
Materials | -64.6626| -2.7| 7/45
US
By Rita Nazareth and Claire Ballentine
(Bloomberg) — Stocks extended their rally into a second day as the trading frenzy that fueled a surge in heavily shorted shares crumbled. Investors also sifted through a batch of corporate earnings. All major groups in the S&P 500 rose, with financial, industrial and retail companies leading the charge. Twenty-five out of the 30blue chips in the Dow Jones Industrial Average advanced. United Parcel Service Inc. climbed as the courier reported a surge in profit, while Exxon Mobil Corp. was up on a pledge to safeguard dividends following its first annual loss in at least 40 years. Meanwhile, the speculative trades popular with Reddit crowds crumbled, with GameStop Corp. and AMC Entertainment Holdings Inc. tumbling at least 41% as silver sank from an eight-year high.
The collapse of those trades that roiled the stock market last month has coincided with a sharp reduction in short interest after bearish investors appeared to cover their positions. While some indicators show the battle between Redditors and hedge funds may not be over, analysts cited a sense of more stability and diminished concern over contagion from any retail bubble as reasons for the equity rebound. “There’s optimism brewing underneath,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “The fact that markets have cooled down a bit with the retail- trading frenzy, that’s giving a little bit of optimism.
Anytime there’s more stability to markets, there’s a breath of relief of all investors.” She also cited prospects for more fiscal stimulus as another reason for the positive mood. The Senate on Tuesday will begin a process that would let Democrats pass President Joe Biden’s $1.9 trillion proposal without Republican votes, Majority Leader Chuck Schumer said. As stocks continued to push higher, Bank of America Corp. strategists came out with a warning about rising bullishness, saying that a sentiment indicator is close to hitting a “sell” signal — a mark last reached shortly before the financial crisis. Meanwhile, Citigroup Inc. is growing concerned with elevated earnings expectations, noting that share prices may be ahead of themselves by about 10%.
These are some key events coming up:
* The EIA crude oil inventory report is due Wednesday.
* The Bank of England sets rates on Thursday, and an Indian central bank policy decision comes then too.
* The U.S. January payrolls report is due Friday, providing a first look at hiring in 2021.

These are the main moves in markets:
Stocks
* The S&P 500 increased 1.4% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index climbed 1.3%.
* The MSCI Asia Pacific Index rose 1.2%.
Currencies
* The Bloomberg Dollar Spot Index decreased 0.1%.
* The euro dipped 0.2% to $1.2036.
* The Japanese yen depreciated 0.1% to 105.04 per dollar.
Bonds
* The yield on 10-year Treasuries rose two basis points to 1.10%.
* Germany’s 10-year yield rose three basis points to -0.49%.
* Britain’s 10-year yield increased three basis points to 0.349%.
Commodities
* West Texas Intermediate crude climbed 2.3% to $54.77 a barrel.
* Gold lost 1.3% to $1,835.66 an ounce.
* Silver slid 8.9% to $26.47 per ounce.
–With assistance from Andreea Papuc, Anchalee Worrachate, Cormac Mullen, Yakob Peterseil, Elena Popina and Vildana Hajric.
Have a great night.

Be magnificent!
As ever,

Carolann

Humility makes great men twice honorable. –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

Dear Friends,

Tangents:
On Feb. 1, 1960, four black college students began a sit-in protest at a lunch counter in Greensboro, N.C., where they’d been refused service. Go to article »
Check out what Melinda Gates is reading. She’s offering a glimpse at her bookshelf and talking about her new favorite.

Pandas enjoy snow. A lot.

A four-year-old girl found a dinosaur footprint on a Welsh beach, and it is being described as the “finest found in a decade” by experts.
Lily Wilder and her family were walking their dog in Barry when she spotted the fossilised footprint in the rocks. It’s believed to be around 220 million years old, and you can see it here.

It’s truly amazing to think that this Anglo-Saxon treasure trove, found in the outline of a huge 89ft-long ship, had been there for well over 1,000 years. Now the ship is set to sail again after restorers began rebuilding it from scratch.
Isn’t it remarkable to think of what is out there, connecting past to present and waiting to be rediscovered. Last year alone saw some major archaeological discoveries and I’m absolutely sure there will be more to come.

Organizers of the Nordic countries’ most important festival, the Goteborg Film Festival, decided to accentuate the pandemic’s sense of solitude as well as film’s ability to bring comfort by offering a chance for one person to screen the films on an isolated island off the west coast of Sweden. 

“We wanted to experiment with that, to isolate that feeling, and take it to the extreme,” said the festival’s artistic director.  Lisa Enroth, a 41-year-old nurse from southern Sweden, was chosen out of 12,000 applicants. On Saturday, she arrived on a rocky outcrop called Pater Noster to watch the 70 films.

PHOTOS OF THE DAY

A man visits the Sistine Chapel on Monday,  the reopening day of the Vatican museum
CREDIT: ANDEAS SOLARO/AFP VIA GETTY IMAGES

A man uses a snow plow to clear off a sidewalk in the Flatbush neighborhood of Brooklyn in New York City, USA
CREDIT: MICHEAL M. SANTIAGO/GETTY IMAGES

Winter swimmers in fancy costumes dive into a partly frozen lake in Shenyang, China, with air temperatures of minus 23 degrees Celsius

CREDIT: STR/AFP VIA GETTy IMAGES

Ski resort workers block the road to the Frejus tunnel crossing the border with Italyto protest against the French government’s decision to close the resorts for the 2020/2021 winter
CREDIT: PHILIPPE DESMAZES/AFP VIA GETTY IMAGES
Market Closes for February 1^st, 2021 

Market Index	Close	Change
Dow Jones	30211.91	+229.29
		+.76%
S&P 500	3773.86	+59.62
		+1.61%
NASDAQ	13403.395	+332.701 +2.55%
TSX	17692.45	+355.42
		+2.05%

 

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28091.05	+427.66
		+1.55%
HANG SENG	28892.76	+609.15
		+2.15%
SENSEX	48600.61	+2316.84
		+5.00%
FTSE 100*	6466.42	+58.96 +0.92%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.884	.889
CND. 30 Year Bond	1.468	1.474
U.S.    10 Year Bond	1.0792	1.0655
U.S. 30 Year Bond	1.8518	1.8291

Currencies

BOC Close	Today	Previous
Canadian $	.77787	.78281
US $	1.28556	1.27746
Euro Rate 1 Euro=		Inverse
Canadian $	1.55100	.64475
US $	1.20648	.82886

Commodities

Gold	Close	Previous
London Gold Fix	1863.80	1853.70
Oil
WTI Crude Future	53.55	52.20

Market Commentary:
     On this day in 1869, the New York Stock Exchange required listed companies to register their securities to prevent “watered stock,” or the manipulated over-issuance of shares by insiders.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks rose on Monday with the broader market, led by mining companies and tech firms. The S&P/TSX Composite index rose 2.1% in Toronto, the most since June as the Reddit-fueled surge in silver prices pushed mining stocks higher. Silver miners were among the top stocks Monday after price of the precious metal jumped to an almost eight-year high. All eleven sectors closed in the green. Meanwhile, Canadian pension plans returned 10% last year, thanks to a strong recovery in equity markets around the world, according to data from Bank of New York Mellon Corp.
Commodities
* Western Canadian Select crude oil traded at a $12.65 discount to West Texas Intermediate
* Spot gold rose 0.6% to $1,859.55 an ounce
FX/Bonds
* The Canadian dollar fell 0.7% to C$1.2860 per U.S. dollar
* The 10-year Canada government bond yield fell slightly to 0.880%
By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose 2.1 percent at 17,692.45 in Toronto. The move was the biggest gain since June 5 and follows the previous session’s decrease of 1.8 percent. Today, materials stocks led the market higher, as all sectors gained; 211 of 221 shares rose, while 10 fell. Shopify Inc. contributed the most to the index gain, increasing 5.6 percent. Silvercorp Metals Inc. had the largest increase, rising 25.7 percent.
Insights
* In the past year, the index had a similar or greater gain 15
times. The next day, it declined eight times for an average 4.1
percent and advanced seven times for an average 1.7 percent
* The index advanced 2.2 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 2 percent below its 52-week high on
Jan. 8, 2021 and 58.4 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1.2 percent in the past 5 days and rose 1.5 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26 on a trailing basis and 16.9 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.68t
* 30-day price volatility rose to 13.42 percent compared with
11.98 percent in the previous session and the average of 9.05 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 88.8502| 3.8| 52/0
Information Technology | 85.6412| 4.8| 10/0
Financials | 45.4314| 0.9| 24/2
Energy | 44.9153| 2.2| 21/1
Industrials | 40.2718| 1.9| 28/1
Consumer Discretionary | 17.0571| 2.6| 12/1
Consumer Staples | 10.5417| 1.7| 11/0
Real Estate | 8.7241| 1.6| 25/1
Utilities | 5.4764| 0.6| 14/2
Communication Services | 5.2993| 0.6| 7/0
Health Care | 3.2075| 1.2| 7/2
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks had their biggest rally in about 10 weeks as several strategists said the recent explosion of speculative buying won’t derail the bull market in equities. In a broad-based advance led by technology and retail companies, the S&P 500 rebounded from last week’s selloff as the Nasdaq 100 jumped 2.5%. Heavyweights Amazon.com Inc. and Google’s parent Alphabet Inc., which are set to report earnings Tuesday, climbed at least 3.6%. AMC Entertainment Holdings Inc. and some other day-trader favorites led the Reddit-fueled rally top Monday, while GameStop Corp. tumbled. Tesla Inc. soared after an analyst more than doubled his price target on the electric-car maker, saying “fireworks aren’t over.” Silver rose to an almost eight-year high, extending a surge that started with the retail investor frenzy sweeping through markets.
The battle between retail traders and hedge funds is unlikely to cause a significant setback for markets, according to JPMorgan Chase & Co. Major drawdowns have usually occurred when there’s a worse outlook for growth, as well as signs of overvaluation beyond price-earnings ratios and credit spreads, strategists led by John Normand wrote. Few markets show signs of extraordinary price momentum or excessive leverage, according to them. “The retail versus hedge fund conflict unfolding currently should be much less severe than the roughly 10% drops that have been occurring almost annually for the past two decades,” JPMorgan strategists noted. “Our bubble tracker based on extreme price momentum, valuations and investor leverage isn’t flashing red at the asset class level, even if it might at the security level.” While stretched valuations make markets vulnerable to a correction, investors should consider using “volatility opportunistically to select stocks in quality franchises with strong valuation support and cyclical leverage,” according to Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management. “Patience, more than greed, is likely to be rewarded,” she wrote in a note to clients. “Our view remains constructive.”

These are some key events coming up:
* Earnings season is full steam ahead as companies report
results, including Alibaba, GlaxoSmithKline, Ferrari, Exxon
Mobil, BNP Paribas and Yum! Brands.
* The Reserve Bank of Australia’s policy decision comes Tuesday.
* Wednesday sees the EIA crude oil inventory report.
* The Bank of England sets rates on Thursday and an Indian
central bank policy decision comes then too.
* The U.S. January payrolls report is due Friday, providing a first look at hiring in 2021.

These are some of the main moves in markets:
Stocks
* The S&P 500 surged 1.6% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index climbed 1.2%.
* The MSCI Asia Pacific Index increased 1.9%.
Currencies
* The Bloomberg Dollar Spot Index climbed 0.3%.
* The euro sank 0.6% to $1.2058.
* The Japanese yen depreciated 0.3% to 104.96 per dollar.
Bonds
* The yield on 10-year Treasuries fell less than one basis point to 1.07%.
* Germany’s 10-year yield climbed less than one basis point to -0.52%.
* Britain’s 10-year yield dipped one basis point to 0.321%.
Commodities
* West Texas Intermediate crude jumped 2.8% to $53.67 a barrel.
* Gold strengthened 0.6% to $1,859.19 an ounce.
* Silver strengthened 7.1% to $28.91 per ounce.
–With assistance from Joanna Ossinger, Andreea Papuc, Adam Haigh, Anchalee Worrachate, Claire Ballentine and Kamaron Leach.
Have a great night.

Be magnificent!
As ever,

Carolann

When you appeared in this world, you cried, and all the people around you rejoiced. 
You have to live your life in such a way that when you leave this world,
you will rejoice, and all the people around you will cry. –Indian Wisdom.

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.

Full moon should be visible again tonight.  The first full moon in January is called the wolf moon and it rose last night.
There’s nothing canine about it—the wolf moon just is the name for January’s full moon. According to The Old Farmer’s Almanac, it most likely has early Native American origins, since wolves were more often heard howling in the dead of winter. But it’s also sometimes referred to as the “Cold Moon” or “Frost Exploding Moon” by the Cree, the “Spirit Moon” by the Ojibwe and the “Center Moon” by the Assiniboine people (with the idea that it roughly marks the middle of winter), per Space.com. And NASA has a lengthy list of even more names for this moon.
Other than being the first full moon of the calendar year, January’s wolf moon will also be at its highest point in the sky for northern hemisphere viewers. That’s because the sun and full moon are opposite each other, and when the sun is low (i.e., in winter), the moon is high. That means anyone in North America will get a front-row seat to see the wolf moon.

An afternoon nap could improve your cognitive abilities, study says.  Say no more. 

Mysterious kick just after Big Bang may have created dark matter. 

After 130 years, a snowy owl has made an appearance in Central Park. Stream these 10 classical concerts in February. We’re all stuck at home at the moment, so here are the 50 best movies on Netflix right now. The Late Night Hosts weigh in: “She is the lady who, among other things, she called for Nancy Pelosi’s execution, she called for Joe Biden’s impeachment on his first day in office, and she believes our former governor here in California, Jerry Brown, used space lasers to set the wildfires here. She saw the ‘Austin Powers’ movie and thought it was a documentary, I guess.” — JIMMY KIMMEL “But claims like these require proof, right? Well, here’s Margie’s evidence: ‘Oddly, there are all these people who have said they saw what looked like lasers or blue beams of light causing the fires.’ That’s an embarrassing way to admit you’ve never heard of lightning.” — STEPHEN COLBERT “So where do these fictional space lasers come from? Well, according to Congresswoman Marjorie Taylor Greene, it could have been a beam from ‘space solar generators.’ A ‘space solar generator.’ So, the sun?” — STEPHEN COLBERT

’And then the socialist lizard men shot jagged laser things out of the cloud. And that angered the sky so much it went ‘Roar!’ and the sky wept, and then, thanks to QAnon, the sky stopped crying and a rainbow appeared. And we shot it with our guns because rainbows are gay. The defense rests.’” — STEPHEN COLBERT

PHOTOS OF THE DAY
The full moon rises above the horizon in Tirana, Albania
CREDIT: FLORION GOGA/REUTERS
An Arctic fox in Svalbard
CREDIT: VLADIMIR ALEKSEEV.WWW.TPOTY.COM
A plane flies towards cumulonimbus clouds above Lyon, central France
CREDIT: LAURENT CIPRIANI/AP

Market Closes for January 29^th, 2021 

Market Index	Close	Change
Dow Jones	29982.62	-620.74
		-2.03%
S&P 500	3714.24	-73.14
		-1.93%
NASDAQ	13070.694	-266.464 -2.00%
TSX	17337.03	-320.17
		-1.81%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27663.39	-534.03
		-1.89%
HANG SENG	28283.71	-267.06
		-0.94 %
SENSEX	46285.77	-588.59
		-1.26%
FTSE 100*	6407.46	-118.69 -1.82%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.889	.815
CND. 30 Year Bond	1.474	1.476
U.S.    10 Year Bond	1.0655	1.0449
U.S. 30 Year Bond	1.8291	1.8046

Currencies

BOC Close	Today	Previous
Canadian $	.78281	.77997
US $	1.27746	1.28210
Euro Rate 1 Euro=		Inverse
Canadian $	.64515	1.55002
US $	.82415	1.21337

Commodities

Gold	Close	Previous
London Gold Fix	1853.70	1846
Oil
WTI Crude Future	52.20	52.34

Market Commentary:
     On this day in 1997, the U.S. Treasury auctioned off its first issue of inflation-indexed securities.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell for a third week, and fourth in five, as traders studied the latest corporate earnings and the implications of day traders pouring into stocks. The S&P/TSX Composite Index dropped 1.8% Friday, with all eleven sectors lower. Information technology was the weakest group, falling 2.8%. Wealthsimple Inc., a commission-free Canadian online brokerage with more than 350,000 clients, is warning traders about the risks of investing in some highly speculative stocks, but isn’t planning to halt trading in those shares.
Canadian Prime Minister Justin Trudeau introduced sweeping new restrictions on international travel in a bid to stem the spread of new variants of Covid-19. Meanwhile, Trudeau said Friday the delay in receiving Moderna Inc.’s Covid-19 vaccine was temporary.
Commodities
* Western Canadian Select crude oil traded at a $13.25 discount to West Texas Intermediate
* Spot gold rose 0.2% to $1,846.40 an ounce
FX/Bonds
* The Canadian dollar fell 0.4% to C$1.2781 per U.S. dollar
* The 10-year Canada government bond yield rose 7.6 basis points to 0.891%
By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 1.8 percent at 17,337.02 in Toronto. The index dropped to the lowest closing level since Dec. 1 after the previous session’s increase of 1.3 percent. Today, financials stocks led the market lower, as all sectors lost; 192 of 221 shares fell, while 28 rose. Shopify Inc. contributed the most to the index decline, decreasing 2.8 percent. Westshore Terminals Investment Corp. had the largest drop, falling 6.3 percent.
Insights
* This month, the index fell 0.6 percent
* So far this week, the index fell 2.9 percent, heading for the
biggest decline since the week ended Oct. 30
* The index declined 1 percent in the past 52 weeks. The MSCI AC
Americas Index gained 15 percent in the same period
* The S&P/TSX Composite is 4 percent below its 52-week high on
Jan. 8, 2021 and 55.2 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of
25.5 on a trailing basis and 16.6 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.73t
* 30-day price volatility rose to 11.98 percent compared with
10.67 percent in the previous session and the average of 8.75 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -99.5335| -1.9| 0/26
Information Technology | -51.6618| -2.8| 0/10
Industrials | -49.1089| -2.3| 3/26
Energy | -36.4350| -1.8| 1/21
Materials | -25.9796| -1.1| 15/37
Consumer Discretionary | -16.2073| -2.4| 0/13
Communication Services | -16.1488| -1.8| 1/6
Consumer Staples | -7.9630| -1.2| 1/10
Real Estate | -6.8180| -1.2| 0/25
Utilities | -5.1958| -0.6| 6/10
Health Care | -5.1240| -1.9| 1/8
US
By Kamaron Leach and Robert Brand
     (Bloomberg) — Global equities slumped in a broad retreat that extended across industries amid lingering concerns that retail trading was creating havoc and as traders mulled an uncertain outlook for deploying coronavirus vaccines. Treasury yields rose. The S&P 500 Index fell almost 2%, turning negative for the year and posting its biggest weekly decline in three months as day traders’ bids for heavily-shorted stocks fueled speculation hedge funds would need to reduce their market exposure. GameStop Corp. and AMC Entertainment Holdings Inc. soared in a return of volatility for stocks popular in internet chat rooms as brokerages said they would start to ease trading restrictions imposed after wild swings this week. Global stocks also fell the most since late October, partly on the turmoil caused by hordes of day traders hatching stock bets that roiled hedge funds and strained trading platforms.
Meanwhile, investors were left to ponder the outlook for the pandemic as Johnson & Johnson said its one-shot vaccine generated strong protection against Covid-19, though it was less effective against the South Africa variant. The European Union escalated the fight over vaccine supplies with an emergency plan to restrict exports. “Extended and stricter lockdowns do not bode well for the economy,” said Carsten Brzeski, global head of macro at ING Groep. “Demand from China could also weaken on the back of lockdowns.” The Stoxx Europe 600 dropped almost 2% in a broad decline. Swedish retailer Hennes & Mauritz AB fell after warning it’s still in “crisis mode,” with 40% of stores shut. Bootmaker Dr. Martens Plc jumped 22% as it ended its first day of trading in London.
     Elsewhere, a glut of liquidity sent short-term U.S. dollar borrowing costs to a record low. But in China, a money-market rate surged to the highest in almost six years, reflecting tighter financial conditions even after the central bank extended credit for the first time this week.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 1.9% at 4 p.m. in New York.
* The Stoxx Europe 600 index dropped 1.9%.
* The MSCI Asia Pacific index fell 1.6%.
* The MSCI Emerging Markets index dropped 1.6%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.3%.
* The euro strengthened 0.1% to $1.2135.
* The British pound slipped 0.2% to $1.3698.
* The yen dropped 0.5% to 104.73 per dollar.
Bonds
* The yield on 10-year Treasuries rose four basis points to 1.09%.
* Germany’s 10-year yield climbed two basis points to -0.52%.
* The U.K.’s 10-year yield rose four basis points to 0.325%
Commodities
* West Texas Intermediate crude fell 0.2% to $52.22 a barrel.
* Gold rose 0.1% to $1,844.93 an ounce.
–With assistance from Lu Wang, Adam Haigh, Cecile Gutscher and Cormac Mullen.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

Often man is preoccupied with human rules and forgets the inner law.
                               -Louis-Joseph Antoine, the Healer, 1846-1912

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 Jan. 28, 1986, space shuttle Challenger exploded 73 seconds after liftoff from Cape Canaveral, killing all seven crew members. Go to article »

NASA’s Perseverance rover will begin ‘epic journey’ on Mars next month.  It will collect samples of rocks and dirt from the red planet, and we will cheer it on every step of the way. 

Youth poet laureate Amanda Gorman to recite poem before Super Bowl.  Poetry and football: the collaboration we didn’t know we needed.

$1.8 million:  That’s how much Vermont Sen. Bernie Sanders has raised for charity through the sale of inauguration meme-inspired merchandise.

WHAT TO WATCH: The documentary series “Pretend It’s a City” chronicles the acerbic Fran Lebowitz through the lens of her longtime friend Martin Scorsese. Their pre-pandemic strolls through New York City give the episodes a wistful, bittersweet quality.
PHOTOS OF THE DAY
Stunt biker Danny MacAskill films his new cycling adventure video,’Danny MacAskill – The Slabs’, on the Isle of Skye, using lockdown to focus on even more extreme mountain biking
CREDIT: DAVE MACKISON/PA
A man walks along Rajpath, a ceremonial boulevard, during smoggy conditions in New Delhi, India
CREDIT: Jewel SAMAD/AFP VIA GETTY IMAGES
This photograph of a fox in Westcliff-on-Sea, Essex, is the Overall winner and Gardeners World category winner in the Essex Wildlife Trust Photograph Competition 2020
CREDIT: JULIE LEVERE / SWNS.COM
Market Closes for January 28^th, 2021 

Market Index	Close	Change
Dow Jones	30603.36	+300.19
		+0.99%
S&P 500	3787.38	+36.61
		+0.98%
NASDAQ	13337.158	+66.560 +0.50%
TSX	17657.20	+232.77
		+1.34%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28197.42	-427.79
		-1.53%
HANG SENG	28550.77	-746.76
		-2.55 %
SENSEX	46874.36	-535.57
		-1.13%
FTSE 100*	6526.15	-41.22 -0.63%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.815	.794
CND. 30 Year Bond	1.476	1.442
U.S.    10 Year Bond	1.0449	1.0161
U.S. 30 Year Bond	1.8046	1.7740

Currencies

BOC Close	Today	Previous
Canadian $	.77997	.78106
US $	1.28210	1.28031
Euro Rate 1 Euro=		Inverse
Canadian $	.64331	1.55446
US $	.82478	1.21244

Commodities

Gold	Close	Previous
London Gold Fix	1846	1856.60
Oil
WTI Crude Future	52.34	52.85

Market Commentary:
     On this day in 1965, less than a year after breaking the 800 mark, the Dow Jones Industrial Average closed above 900 for the first time, finishing the day at 900.95.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities rebounded Thursday after sliding the previous two days. The S&P/TSX Composite Index gained 1.3%, the most since Nov. 5, with nine of 11 sectors gaining. Utilities and communication services fell. BlackBerry Ltd. dropped 32%, the most since April 2000, after Robinhood and Interactive Brokers Group curbed trading in the stock after a Reddit-driven surge. Oil declined the most in nearly a week with the spread of new Covid-19 variants and tighter lockdown measures weighing on nascent hopes of a demand recovery.
Commodities
* Western Canada Select crude oil traded at a $12.80 discount to West Texas Intermediate
* Spot gold fell 0.1% to $1,842 an ounce
FX/Bonds
* The Canadian dollar fell 0.2% to C$1.2823 per U.S. dollar
* The 10-year government bond yield rose 2.2 basis points to 0.815%
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose 1.3 percent at 17,657.20 in Toronto. The move was the biggest since rising 1.9 percent on Nov. 5 and follows the previous session’s decrease of 2 percent. Today, materials stocks led the market higher, as 9 of 11 sectors gained; 175 of 221 shares rose, while 45 fell. Shopify Inc. contributed the most to the index gain, increasing 2.6 percent. First Majestic Silver Corp. had the largest increase, rising 21.6 percent.
Insights
* This month, the index rose 1.3 percent
* So far this week, the index fell 1.1 percent
* The index advanced 0.9 percent in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 2.2 percent below its 52-week high on
Jan. 8, 2021 and 58 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1.4 percent in the past 5 days and was little changed in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
25.8 on a trailing basis and 16.9 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.69t
* 30-day price volatility rose to 10.67 percent compared with
10.10 percent in the previous session and the average of 8.60 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 76.9427| 3.4| 50/2
Financials | 61.5960| 1.2| 18/8
Industrials | 49.0068| 2.3| 20/8
Energy | 19.5899| 1.0| 15/7
Consumer Discretionary | 12.6973| 1.9| 11/2
Health Care | 10.2944| 3.9| 8/1
Consumer Staples | 3.4554| 0.5| 8/3
Real Estate | 3.3256| 0.6| 21/5
Information Technology | 0.1607| 0.0| 8/2Communication Services | -2.0893| -0.2| 6/1
Utilities | -2.2256| -0.2| 10/6
US
By Vildana Hajric and Lu Wang
(Bloomberg) — U.S. equities mounted a comeback from their worst loss since October as moves to limit retail traders’ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching. The S&P 500 Index rose 1% after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk. That dynamic reversed Thursday, and a Goldman Sachs basket of stocks favored by hedge funds jumped the most since early November, halting a five-day slide. An index of the most-shorted shares tumbled more than 7%, the most since June. GameStop whipsawed, rising as much as 39% in early trading before plunging as much as 68%. It closed down 44%. AMC sank 57%, American was up 9.3% and Tootsie Roll Industries lost 9.5%.   
     The trading restrictions sparked outrage on the WallStreetBets forum where day traders have convened to drive the manic rallies that burned hedge funds across Wall Street. Washington took notice of what some have called inequitable rules, with Democratic and Republican lawmakers criticizing restrictions imposed on retail investors. All 11 industry groups in the S&P 500 traded higher, with sentiment also boosted by solid corporate earnings from the likes of Mastercard Inc. and Comcast Corp. and a surprise drop in jobless claims. Stocks have seen volatile trading after a prolonged rally that spurred talk of possible asset bubbles and predictions of a
pullback given a raging pandemic and patchy rollout of vaccines. The turmoil created by internet chat rooms has stoked fears of broader consequences for Wall Street, particularly hedge funds, but that fear seemed to fade on Thursday. “Earnings are great and guidance is better and we’re picking up the pace of getting vaccines out and eventually we’ll have fiscal stimulus coming out of Washington,” said Arthur Hogan, chief market strategist at National Securities Corp. “The market is trying to digest a lot of things at the same time.”
The Stoxx Europe 600 Index edged higher. Earnings beatsfrom STMicroelectronics NV and Diageo Plc were accompanied by a miss from Swatch Group AG and a revenue drop at EasyJet Plc. The benchmark 10-year Treasury yield rose after touching the lowest level since Jan. 5. Bitcoin climbed past $32,000. Stocks in Hong Kong and Australia saw the bulk of Asian losses. These are some key events coming up in the week ahead:
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index jumped 1% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index rose 0.1%.
* The MSCI Asia Pacific Index fell 1.8%.
* The MSCI Emerging Market Index fell 1.4%.
Currencies
* The Bloomberg Dollar Spot Index slipped 0.2%.
* The euro rose 0.2% to $1.2129.
* The British pound rose 0.4% to $1.3736.
* The Japanese yen weakened 0.1% to 104.23 per dollar.
Bonds
* The yield on 10-year Treasuries rose four basis points to 1.05%.
* Germany’s 10-year yield rose one basis point to -0.54%.
* Britain’s 10-year yield rose two basis points to 0.285%.
Commodities
* West Texas Intermediate crude fell 1% to $52.31 a barrel.
* Gold fell 0.1% to $1,842.54 an ounce.

–With assistance from Cormac Mullen, Gregor Stuart Hunter, Michael Msika, Adam Haigh, Cecile Gutscher and Yakob Peterseil.
Have a great night.

Be magnificent!

As ever,

Carolann

Adversity is a mirror that reveals one’s true self.
                                          -Chinese proverb

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 MEMORIAL DAY, UK.
January 27, 1945: soviet troops liberate Auschwitz and Birkenau Concentration Camps in Poland.

After more than seven decades after one of the darkest periods in human history, some 400 people aged 85 and older, many of them Holocaust survivors, were vaccinated in Vienna on International Holocaust Remembrance Day.

On Jan. 27, 1967, Astronauts Virgil I. ”Gus” Grissom, Edward H. White and Roger B. Chaffee died in a flash fire during a test aboard their Apollo I spacecraft at Cape Kennedy, Fla. Go to article »

1972: Vietnam Peace Agreement signed.

Wolfgang Amadeus Mozart, Composer, b. 1756.
Lewis Carroll, writer, b. 1832.
Mikhail Baryshnikov, dancer, b. 1948.

From the Late Night Host:

“Earlier today, all 100 senators were sworn in as jurors for Donald Trump’s upcoming impeachment trial, which starts on Feb. 8. The trial is to determine if the attack on the Capitol by thousands of people wearing flags that said ‘Trump’ and hats that said ‘Trump’ is the fault of — get this — Trump.” — JAMES CORDEN

“Now, to get a conviction, the House is going to have to convince 17 Republican senators that the former president incited the riot. Even though they were all hustled out through secret tunnels to keep them from being murdered by the president’s own bloodthirsty, fascist squad of goons, they’re on the fence.” — STEPHEN COLBERT

“Apparently, playing 36 holes of golf every day isn’t as exciting when you’re not ignoring a global pandemic.” — JIMMY FALLON

“But today Trump’s aides were trying to cheer him up. They were like, ‘Good news, sir, your trial starts in two weeks.’” — JIMMY FALLON
PHOTOS OF THE DAY
The Duchess of Cambridge chats to holocaust survivors Manfred Goldberg and Zigi Shipper, whom she met at former concentration camp Stutthof in 2017.
CREDIT: KENSINGTON PALACE
A lunar corona shines in the night sky above the northern Italian city of Parma
CREDIT: ALBERTO GHIZZI PANIZZA/SWNS.COM
George visits his wife Phyllis on her birthday at a care home in Sheffield
CREDIT:@CAREQUALITYCOMM
Two skiers pass by traffic signs drowned in the snow by the Dappes Car Park near La Dole
CREDIT: FABRICE COFFRINI/AFP VIA GETTY IMAGES
Market Closes for January 27^th, 2021 

Market Index	Close	Change
Dow Jones	30303.17	-633.87
		-2.05%
S&P 500	3750.77	-98.85
		-2.57%
NASDAQ	13270.598	-355.466 -2.61%
TSX	17424.43	-354.98
		-2.00%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28635.21	+89.03
		+0.31%
HANG SENG	29297.53	-93.73
		-0.32%
SENSEX	47409.93	-937.66
		-1.94%
FTSE 100*	6567.37	-86.64 -1.30%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.794	.818
CND. 30 Year Bond	1.442	1.454
U.S.    10 Year Bond	1.0161	1.0345
U.S. 30 Year Bond	1.7740	1.7906

Currencies

BOC Close	Today	Previous
Canadian $	.78106	0.78772
US $	1.28031	1.26949
Euro Rate 1 Euro=		Inverse
Canadian $	1.55064	.64489
US $	1.21115	.82566

Commodities

Gold	Close	Previous
London Gold Fix	1856.60	1856.85
Oil
WTI Crude Future	52.85	52.61

Market Commentary:
     On this day in 1938, the New York Stock Exchange finally recommended installation of a board of governors, a salaried independent president and a specialized administrative staff. Previously, the exchange had functioned like a private gentleman’s club, with conduct enforced mainly by unspoken codes of honor and a pro-bono president
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell the most since late October on Wednesday as part of a broad-based decline that pushed the benchmark index to its lowest since mid-December and erased the New Year’s advance. The S&P/TSX Composite Index retreated 2%, with ten of eleven sectors falling. Materials and industrials led the decline. Amid increased signs of market euphoria, there’s plenty of investor nerves out there — but also a reluctance to forgo gains. That favors complex options trades that protect against crashes but keep investors in the market, according to RBC strategists. Gold traded little changed, paring the day’s steepest losses, as a retreat in equities and lower U.S. Treasury yields diminished the allure of a stronger dollar.
Commodities
* Western Canada Select crude oil traded at a $12.80 discount to West Texas Intermediate
* Spot gold fell 0.5% to $1,842 an ounce
FX/Bonds
* The Canadian dollar fell 0.9% to C$1.2810 per U.S. dollar
* The 10-year government bond yield fell 2.0 basis points to 0.798%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 2 percent, or 354.98 to 17,424.43 in Toronto. The move was the biggest since falling 2.7 percent on Oct. 28. Today, materials stocks led the market lower, as 10 of 11 sectors lost; 195 of 221 shares fell, while 25 rose. Shopify Inc. contributed the most to the index decline, decreasing 5.1 percent. Aurinia Pharmaceuticals Inc. had the largest drop, falling 8.1 percent.
Insights
* In the past year, the index had a similar or greater loss 19 times. The next day, it advanced 13 times for an average 3.3 percent and declined six times for an average 5 percent
* This month, the index was little changed
* The index was little changed in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 3.5 percent below its 52-week high on Jan. 8, 2021 and 56 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 3.3 percent in the past 5 days and fell 1.1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 25.5 on a trailing basis and 16.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.75t
* 30-day price volatility rose to 10.10 percent compared with 8.46 percent in the previous session and the average of 8.51 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -82.5842| -3.5| 2/50
Financials | -78.1901| -1.5| 2/24
Industrials | -69.0967| -3.2| 4/25
Information Technology | -38.5964| -2.1| 3/7
Energy | -32.3889| -1.6| 6/15
Consumer Discretionary | -19.5372| -2.8| 1/12
Utilities | -13.6378| -1.5| 1/15
Communication Services | -7.9720| -0.9| 1/6
Real Estate | -7.4187| -1.3| 1/25
Consumer Staples | -5.7934| -0.9| 0/11
Health Care | 0.2465| 0.1| 4/5
US
By Claire Ballentine and Sophie Caronello
(Bloomberg) — U.S. equities tumbled as a risk-off mood descended on markets amid growing concern that stocks have become overvalued. The dollar jumped the most since September and Treasury yields slipped. The S&P 500 Index recorded its worst rout since October, with the gauge down 2.6% after Federal Reserve officials left their main interest rate unchanged without promising any more aid for the economy. The selloff was widespread, sinking all 11 groups in the benchmark stock gauge. Turmoil continued in pockets of the market where retail traders are becoming a dominant force, with shares of GameStop Corp. and AMC Entertainment Holdings Inc. soaring as investment pros questioned whether there’s any rationale behind the moves.
The Stoxx Europe 600 Index declined the most in five weeks as the European Union and AstraZeneca Plc squabbled over vaccine delivery delays. The euro fell after a European Central Bank official said the markets are underestimating the odds of a rate cut. Officials in the U.K. announced new rules to try to curb the spread of Covid-19 and Germany cut its 2021 economic growth forecast to 3% from 4.4%. An extended run higher for stocks has reversed this week as investors look to a spate of earnings releases for clues about the health of the corporate world. Federal Reserve Chairman Jerome Powell said at a press conference that the U.S. economy was a long way from full recovery and still short of policy makers’ inflation and job goals. “It was always doubtful the Fed would announce any new actions this month,” said Seema Shah, chief strategist at Principal Global Investors. “After a few weeks of Fed speakers pushing back on the monetary tightening narrative, it wasn’t surprising to hear Powell reassert the message that tapering is not on the agenda for 2021.”
The stock selloff is also being driven partly by speculation that hedge funds will be forced to reduce their equity holdings as retail investors make a concerted effort to boost shares the professional investors have bet against, according to Matt Maley, chief market strategist at Miller Tabak + Co. “A lot of them are getting burned by their shorts, and I think the market is worried that they’ll have to sell some stocks to meet their margin calls,” he said. Elsewhere, Bitcoin fell below $30,000 before paring the decline and precious metals slumped. Asian stocks fell for a second day as investors took a breather following the regional benchmark’s ascent to a record high Monday. In the region, benchmarks in India, Vietnam and the Philippines were among the biggest losers. These are some key events coming up in the week ahead:
* Apple Inc., Tesla Inc., Facebook Inc. and Samsung Electronics Co. are among companies reporting results.
* Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 2.6% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index declined 1.2%.
* The MSCI Asia Pacific Index fell 0.8%.
* The MSCI Emerging Market Index dipped 1.3%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.7%.
* The euro fell 0.5% to $1.2104.
* The British pound weakened 0.4% to $1.3683.
* The Japanese yen fell 0.5% to 104.18 per dollar.
Bonds
* The yield on 10-year Treasuries fell one basis point to 1.02%.
* Germany’s 10-year yield fell one basis point to -0.55%.
* Britain’s 10-year yield was little changed at 0.27%.
Commodities
* West Texas Intermediate crude rose 0.1% to $52.67 per barrel.
* Gold fell 0.5% to $1,842.36 an ounce.

–With assistance from David Wilson, Yakob Peterseil and Andreea Papuc.
Have a great night.

Be magnificent!
As ever,

Carolann

You may not have started out life in the best of circumstances.  But if you can find a mission in life
worth working for and believe in yourself, nothing can stop you from achieving success.
                                                                -Kemmons Wilson, 1913-2003 (holiday Inn founder).

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:
Australia Day, 1^st British settlement, 1788
On Jan. 26, 1950, India proclaimed itself a republic. Go to article »

A ginormous earthquake hit the Pacific Northwest coast on this day in 1700. Read about the really, really “Big One,” which caused the entire coastline to suddenly drop 3 to 6 feet as it sent a 33-foot high tsunami across the ocean to Japan. Might not be a bad reminder to refresh the ol’ disaster kit and get ready to rumble with our guide to earthquake preparedness.-The Seattle Times.

The Late Night Hosts weigh in on the impeachment:
“Man, they’re throwing everything at the wall: Impeachment will stir up the country, the election was stolen, we all bear some responsibility. It’s like getting pulled over with a giant plume of marijuana smoke in the car and telling the cop, ‘I think it’s the exhaust pipe, and it is legal in several states, and I only started smoking when you pulled me over because that gave me severe anxiety.’” — SETH MEYERS

“So you just want to let him off scot-free for insurrection because he’s no longer in power? That’s like acquitting Jeffrey Dahmer because he’s full.” — STEPHEN COLBERT

“Violent seditionists and white supremacists and militia members stormed the Capitol building and tried to overthrow democracy. We have to do something about that so it doesn’t happen again. Instead, Republican leaders are talking about Trump’s base the way park rangers talk about bears on a campground: ‘Don’t make eye contact, move away slowly, and if worst comes to worst, let ‘em eat your hot dogs — they’re just hot dogs.’” — SETH MEYERS
PHOTOS OF THE DAY
Dawn breaks over Tynemouth Longsands beach.
CREDIT: OWEN HUMPHREYS/PA
Skier makes their way down a freshly snow-covered Mammoth Mountain Ski Area, in Mammoth Lakes, California
CREDIT: PETER MORNING/ MAMMOTH MOUNTAIN SKY AREA VIA AP
Amazing Photo Appears To Show Lion With Cheetah’s Head In Its Mouth. This jaw-dropping shot appears to show a very hungry lion with a cheetah’s head in its mouth. It is actually a clever optical illusion with the lion in the foreground lined up perfectly with the other big cat. Wildlife photographer Saeed Aljafar captured the amazing scene in Kenya’s Masai Mara. 
CREDIT: SAEED ALJAFAR/COVER-IMAGES.COM
Market Closes for January 26^th, 2021 

Market Index	Close	Change
Dow Jones	30937.04	-22.96
		-0.07%
S&P 500	3849.62	-5.74
		-0.15%
NASDAQ	13626.066	-9.926 -0.07%
TSX	17779.41	-126.61
		-0.71%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28546.18	-276.11
		-0.96%
HANG SENG	29391.26	-767.75
		-2.55%
SENSEX	48347.59	-530.95
		-1.09%
FTSE 100*	6654.01	+15.16 +0.23%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.818	.812
CND. 30 Year Bond	1.454	1.445
U.S.    10 Year Bond	1.0345	1.0295
U.S. 30 Year Bond	1.7906	1.7920

Currencies

BOC Close	Today	Previous
Canadian $	0.78772	.78468
US $	1.26949	1.27440
Euro Rate 1 Euro=		Inverse
Canadian $	.64771	1.54391
US $	0.82225	1.21617

Commodities

Gold	Close	Previous
London Gold Fix	1856.85	1852.70
Oil
WTI Crude Future	52.61	52.75

Market Commentary:
On this day in 1921, Akio Morita, the future co-founder of Sony, was born in Nagoya, Japan.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell Tuesday amid weakness across multiple sectors. The S&P/TSX Composite Index lost 0.7%, the most since Dec. 14, with seven of 11 sectors lower. Marijuana stocks rallied with Canopy Growth Corp. and Aphria Inc. each gaining at least 7.5%. Prime Minister Justin Trudeau said his government is preparing to unveil new travel measures soon to help protect Canadians from new Covid-19 variants.
Commodities
* Western Canadian Select crude oil traded at a $13.30 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,851.47
FX/Bonds
* The Canadian dollar rose 0.4% to C$1.2693 per U.S. dollar
* The 10-year Canada government bond yield edged higher to 0.819%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell 0.7 percent at 17,779.41 in Toronto. The move was the biggest since falling 0.9 percent on Dec. 14 and follows the previous session’s increase of 0.3 percent. Shopify Inc. contributed the most to the index decline, decreasing 4.2 percent. Vermilion Energy Inc. had the largest drop, falling 8.8 percent. Today, 127 of 221 shares fell, while 89 rose; 7 of 11 sectors were lower, led by information technology stocks.
Insights
* This month, the index rose 2 percent
* The index advanced 1.2 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 1.5 percent below its 52-week high on
Jan. 8, 2021 and 59.1 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1 percent in the past 5 days and rose 0.9 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.1 on a trailing basis and 17 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.77t
* 30-day price volatility rose to 8.46 percent compared with
8.19 percent in the previous session and the average of 8.43 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | -55.6062| -2.9| 3/7
Energy | -31.7539| -1.5| 2/20
Materials | -23.8494| -1.0| 23/28
Industrials | -14.2119| -0.6| 12/17
Consumer Discretionary | -7.6752| -1.1| 4/9
Utilities | -4.6364| -0.5| 5/11
Consumer Staples | -0.7503| -0.1| 7/4
Real Estate | 1.6741| 0.3| 16/8
Financials | 1.7454| 0.0| 8/17
Communication Services | 3.0358| 0.3| 5/1
Health Care | 5.4167| 2.1| 4/5
US
By Lu Wang and Claire Ballentine
(Bloomberg) — U.S. stocks slid ahead of earnings reports from the biggest tech companies. The dollar weakened. The S&P 500 Index edged lower after struggling to gain traction throughout the day, weighed down by worries over new coronavirus variants and hurdles to a fresh aid package. Small- caps were among the worst performers as traders turned away from bets on an end to Covid lockdowns. GameStop Corp. extended its astronomical surge as day traders continued to pile into the heavily shorted retailer. European stock markets closed in the green. Naturgy Energy Group SA soared 15% as asset manager IFM Global Infrastructure offered to buy a stake in the Spanish utility. Sweden’s EQT AB, one of Europe’s biggest private equity firms, jumped 15% after agreeing to take over Exeter Property Group in a $1.9 billion deal.
Global stocks are mostly treading water near record highs as U.S. corporate earnings season gears up this week, with traders also keeping an eye on developments related to the pandemic and its spread. Vaccine coverage won’t reach a point that would stop transmission of the virus in the foreseeable future, the World Health Organization said. “There’s little bit of bumpiness to start the week,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management. “Part of the cross current we’re seeing is concern about the new variants of the virus that seem to be spreading quite a bit. It just raises a question of uncertainty and when we’re going to get out from under the cloud of Covid.” Elsewhere, Treasury yields held steady. Bitcoin retreated to trade near $32,000. In Asia, stock markets took a dive after China’s central bank withdrew cash from the banking system and an official cautioned about asset bubbles. The MSCI Asia Pacific Index sank the most in two months and internet giant Tencent Holdings Ltd. lost 6.3%.

These are some key events coming up in the week ahead:
* Microsoft Corp., Apple Inc., Tesla Inc., Facebook Inc. and
Samsung Electronics Co. are among companies reporting results.
* The Federal Open Market Committee monetary policy decision and
briefing by Chair Jerome Powell are scheduled for Wednesday.
* Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.2% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index gained 0.6%.
* The MSCI Asia Pacific Index fell 1.2%.
* The MSCI Emerging Market Index dipped 1.5%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.3%.
* The euro rose 0.2% to $1.2166.
* The British pound climbed 0.4% to $1.3737.
* The Japanese yen rose 0.1% to 103.62 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 1.04%.
* Germany’s 10-year yield added two basis points to -0.54%.
* Britain’s 10-year yield was little changed at 0.26%.
Commodities
* West Texas Intermediate crude fell 0.5% to $52.55 per barrel.
* Gold fell 0.2% to $1,852.18 an ounce.
–With assistance from Cormac Mullen and Anchalee Worrachate.
Have a great night.

Be magnificent!
As ever,

Carolann

Chance favors the informed mind. –Louis Pasteur, 1822-1895.

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