Category: Events

Dear Friends,

Tangents:  Happy Friday.

On January 8,1987 The Dow Jones industrial average closed above 2,000 for the first time, ending the day at 2,002.25. Go to article »
1835-US national debt is $0 for the first and only time in history.
1851-Earth’s rotation proven.
Elvis Presley, b. 1935.
Stephen Hawking, physicist, b. 1942
David Bowie, musician, b. 1947

Neil Sheehan, who in 1971 obtained the Pentagon Papers, telling the secret government history of the Vietnam War, has died at 84. Sheehan, who covered the war for The Times, never explained how he got the documents — until a few years ago, when he agreed to an interview on the condition that it not be published until his death

A different “52 Places to Go”:

 

The Times usually publishes its annual travel feature right about now, a visually rich list of worthy destinations for the coming year. But, of course, the pandemic has changed that. This year’s list hits closer to home: We’re calling it “52 Places to Love.” Instead of turning to reporters and photographers, The Times asked readers to tell us about their favorite places — near or far — and share photos. Their responses included Huanchaco, Peru; a town in Wales called Mumbles; Montana’s “Golden Triangle”; and Hokkaido, Japan, which has an entire weather forecast devoted to the changing leaves.-The New York Times.

L’Heure exquise:
The first time I heard this work by Reynaldo Hahn, sung here by Susan Graham, I was moved to tears. Here’s hoping it brings you some peace after a difficult week. (Click here to view.) -CNN.
PHOTOS OF THE DAY

A three minute time exposure shows the launch of a SpaceX Falcon 9 from Cape Canaveral Space Force Station Launch Complex 40 in Floridda, USA. The rocket is carrying the Turksat 5A satellite for Turkey
CREDIT: MALCOLM DENENARK/FLORIDA TODAY VIA AP

Lights twinkle in a valley, seen from high in the Malvern Hills
CREDIT:@JACKBOSKETT

Trees are covered in snow on the Nordhelle mountain near Meinerzhagen, western Germany
CREDIT: INA FASSBENDER/AFP VIA GETTY IMAGES
Market Closes for January 8^th, 2021 

Market Index	Close	Change
Dow Jones	31097.97	+56.84
		+0.18%
S&P 500	3824.68	+20.89
		+0.55%
NASDAQ	13201.977	+134.498 +1.03%
TSX	18042.07	+14.50
		+0.08%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28139.03	+648.90
		+2.36%
HANG SENG	27878.22	+329.70
		+1.20%
SENSEX	48782.51	+689.19
		+1.43%
FTSE 100*	6873.26	+16.30 +0.24%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.815	0.792
CND. 30 Year Bond	1.431	1.403
U.S.    10 Year Bond	1.1170	1.0778
U.S. 30 Year Bond	1.8754	1.8555

Currencies

BOC Close	Today	Previous
Canadian $	0.78770	0.78843
US $	1.29653	1.26834
Euro Rate 1 Euro=		Inverse
Canadian $	1.55095	0.64477
US $	1.22168	0.81855

Commodities

Gold	Close	Previous
London Gold Fix	1920.10	1931.95
Oil
WTI Crude Future	52.24	50.83

Market Commentary:
On this day in 1829, the market was open but it was one of the quietest days in Wall Street history, as not a single share of stock changed hands
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian shares pared early losses on Friday, as U.S. stocks rallied after President-elect Joe Biden said he’ll lay out the details of trillions of dollars in further stimulus.
The S&P/TSX Composite index was mostly unchanged in Toronto, paring an earlier decline of as much as 0.5%. The index
hit an all-time high on Thursday and rose about 3.5% this week, its best week since Nov. 6.
Tech and industrial stocks were the best performers, while materials and energy fared the worst. Miners tumbled after gold dropped below $1,900 an ounce as technical selling took over following a recovery in the dollar and higher Treasury yields.
Silver also fell the most since September.
Meanwhile, WestJet Airlines Ltd. said it would reduce capacity by a further 30% in February and March, affecting the jobs or pay of roughly 1,000 employees and bringing the number of domestic and international flights it operates down to levels not seen in almost 20 years. The cuts come after Prime Minister Justin Trudeau’s government forced travelers to present a recent negative Covid-19 test before being allowed to board flights into Canada. The new rules took effect Thursday.
Commodities
* Western Canadian Select crude oil traded at a $14.70 discount to West Texas Intermediate
* Spot gold fell 3.4% to $1,848.88 an ounce
FX/Bonds
* The Canadian dollar fell slightly to C$1.2699 per U.S. dollar
* The 10-year Canada government bond yield rose to 0.794%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite advanced slightly to 18,042.07 in Toronto.
Today, information technology stocks led the market higher, as 9 of 11 sectors gained; 118 of 221 shares rose, while 99 fell.
Shopify Inc. contributed the most to the index gain, increasing 3.1 percent. BlackBerry Ltd. had the largest increase, rising 6.4 percent.
Insights
* So far this week, the index rose 3.5 percent, heading for the biggest advance since the week ended Nov. 6
* The index advanced 5.1 percent in the past 52 weeks. The MSCI AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0.1 percent below its 52-week high on Jan. 8, 2021 and 61.5 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.5 on a trailing basis and 17.4 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$2.78t
* 30-day price volatility little changed to 8.87 percent compared with 8.87 percent in the previous session and the average of 9.60 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 46.9046| 2.6| 9/0
Industrials | 34.4984| 1.5| 23/6
Utilities | 13.0200| 1.4| 13/3
Consumer Discretionary | 8.6885| 1.2| 11/2
Communication Services | 6.3442| 0.7| 7/0
Consumer Staples | 4.2555| 0.6| 10/1
Real Estate | 3.7343| 0.7| 19/6
Financials | 2.8296| 0.1| 11/15
Health Care | 0.7609| 0.3| 5/3
Energy | -19.4449| -0.9| 5/16
Materials | -87.1013| -3.4| 5/47
US
By Rita Nazareth and Kamaron Leach
(Bloomberg) — Stocks climbed to all-time highs after President-elect Joe Biden said he’ll lay out the details of trillions of dollars in further aid to revive the world’s largest economy.
The S&P 500 notched its fourth straight day of gains, led by retailers and real-estate companies. The Nasdaq 100 outperformed, with Tesla Inc. surging for an 11th consecutive session. Meanwhile, the KBW Bank Index halted a rally that drove the gauge up more than 10% in three days. Miners joined a selloff in gold and silver.
In a week marked by a siege of the U.S. Capitol and Democratic sweep of Congress, all major equity benchmarks notched records as investors focused on the prospect for more fiscal aid. Biden made the call for new assistance – including $2,000 stimulus checks — after a dismal December jobs report.
The 140,000 slump in payrolls highlighted how surging coronavirus infections are taking a greater toll on parts of the economy. “Biden was talking about more stimulus,” said Jonathan Boyar, managing director at BoyarValue. “The sooner we see both parties acting together in a constructive manner, the better.”
House Speaker Nancy Pelosi said the nation’s top military officer assured her safeguards are in place in case President Donald Trump seeks to initiate a nuclear strike — something he has the sole authority to do. Pelosi and Senate Democratic leader Chuck Schumer are calling on Vice President Mike Pence to invoke the 25th Amendment to have the cabinet remove Trump from office over his encouragement of the mob that stormed the U.S. Capitol on Wednesday.
Meanwhile, Federal Reserve Vice Chair Richard Clarida said he doesn’t expect the central bank to begin tapering its asset purchases this year despite an expected strengthening of the economy as the pandemic fades. A few policy makers, including Chicago Fed President Charles Evans and Atlanta’s Raphael Bostic, said this week they might support reducing the pace of buying by year-end if the economy bounces back strongly enough.

     These are some of the main moves in markets:
Stocks
* The S&P 500 gained about 0.5% at 4 p.m. New York time.
* The Stoxx Europe 600 Index advanced 0.7%.
* The MSCI Asia Pacific Index gained 2%.
Currencies
* The Bloomberg Dollar Spot Index gained 0.1%.
* The euro decreased 0.4% to $1.2225.
* The Japanese yen depreciated 0.1% to 103.95 per dollar.
Bonds
* The yield on 10-year Treasuries climbed four basis points to 1.12%.
* Germany’s 10-year yield rose less than one basis point to -0.52%.
* Britain’s 10-year yield rose less than one basis point to 0.288%.
Commodities
* West Texas Intermediate crude climbed 3.5% to $52.60 a barrel.
* Gold fell 3.5% to $1,847.89 an ounce.
–With assistance from Sunil Jagtiani, Cormac Mullen, Yakob Peterseil, Robert Brand, Claire Ballentine and Vildana Hajric.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

When you rise in the morning, give thanks for the morning light, for your life and strength.
Give thanks for your food and the joy of living.  If you see no reason for giving thanks,
the fault lies in yourself. -Tecumseh, 1768-1813

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. 7, 1979, Vietnamese forces captured the Cambodian capital of Phnom Penh, overthrowing the Khmer Rouge government. Go to article »

Tomorrow’s radical architecture, today.

Why “Peanuts” endures.

In the past, we’ve asked artists and notable figures to choose the five minutes they would play to make their friends fall in love with classical music, the piano, Mozart and more. Now we want those friends to fall for an instrument based on the most fundamental sign of life: breath.
“No matter the style of the music or the cultural context it sings from, it’s the flute’s ability to pierce the heart that moves me most,” says the flutist and composer Nicole Mitchell. Her pick: “The Price of Everything” by James Newton.

“Remind me: Are we great again yet?” — STEPHEN COLBERT
“The America that so many aspire to will be back,” he said. “It’s just been hijacked by a lunatic.”  –JAMES CORDEN

PHOTOS OF THE DAY

A car drives through a field of solar panels at a solar energy power plant (GES) in Edremit district of Van, Turkey
CREDIT: OZKAN BILGIN/ANADOLU AGENCY VIA GETTY IMAGES

St Michael’s Tower, a Grade I listed building, is surrounded by freezing fog at Glastonbury Tor in Somerset
CREDIT: SPLASHNEWS.COM

People enjoy the snow  in Castilla-La Mancha, Spain
CREDIT: REY SOTOLONGO/EUROPA PRESS VIA GETTY IMAGES

Market Closes for January 7^th, 2021 

Market Index	Close	Change
Dow Jones	31041.13	+211.73
		+0.69%
S&P 500	3803.79	+55.65
		+1.48%
NASDAQ	13067.480	+326.686 +2.56%
TSX	18027.57	+199.46
		+1.12%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27490.13	+434.19
		+1.60%
HANG SENG	27548.52	-143.78
		-0.52%
SENSEX	48093.32	-80.74
		-0.17%
FTSE 100*	6856.96	+15.10 +0.22%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.792	0.754
CND. 30 Year Bond	1.403	1.364
U.S.    10 Year Bond	1.0778	1.0372
U.S. 30 Year Bond	1.8555	1.8099

Currencies

BOC Close	Today	Previous
Canadian $	0.78843	0.78880
US $	1.26834	1.26775
Euro Rate 1 Euro=		Inverse
Canadian $	1.55682	0.64234
US $	1.22744	0.81470

Commodities

Gold	Close	Previous
London Gold Fix	1931.95	1940.35
Oil
WTI Crude Future	50.83	50.63

Market Commentary:
On this day in 1825, the nation’s first great nonfinancial IPO was sold, as the Delaware & Hudson Canal Co. went public at $100 per share. The stock hit $112 that May, slid to $71 over the next three years, then went on to be a stable growth stock for decades.

Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks rallied to an all-time high along with shares in the U.S. and elsewhere in the world as investors focused on the prospect for increased government spending to stimulate the economy once Joe Biden is inaugurated president in less than two weeks. The S&P/TSX Composite index rose 1.1% to record high of 18,027.57. The index was driven by tech and energy shares, while communication services underperformed. Meanwhile, Canada’s largest pension plan is expanding its holdings of hard assets, plowing around $850 million into property, wind farms and logistics facilities to kick off the year.
Commodities
* Western Canadian Select crude oil traded at a $15.10 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,914.50 an ounce
FX/Bonds
* The Canadian dollar was little changed at C$1.2675 per U.S. dollar
* The 10-year Canada government bond yield rose 4 basis points to 0.792%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the fourth day, climbing 1.1 percent, or 199.46 to 18,027.57 in Toronto. The move was the biggest since rising 1.3 percent on Nov. 16. Today, information technology stocks led the market higher, as 9 of 11 sectors gained; 153 of 221 shares rose, while 68 fell. Shopify Inc. contributed the most to the index gain, increasing 6.9 percent. Ballard Power Systems Inc. had the largest increase, rising 15.7 percent.
Insights
* So far this week, the index rose 3.4 percent, heading for the biggest advance since the week ended Nov. 6
* The index advanced 5 percent in the past 52 weeks. The MSCI AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0.1 percent below its 52-week high on Jan. 7, 2021 and 61.4 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 2.7 percent in the past 5 days and rose 2.5 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 17.4 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$2.75t
* 30-day price volatility rose to 8.87 percent compared with 8.81 percent in the previous session and the average of 9.87 percent over the past month
================================================================
|Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 77.9142| 4.5| 8/2
Energy | 42.1166| 2.0| 21/1
Industrials | 36.6312| 1.7| 24/5
Financials | 21.6940| 0.4| 22/4
Materials | 10.2129| 0.4| 29/23
Consumer Discretionary | 8.2831| 1.2| 10/3
Utilities | 6.2684| 0.7| 11/5
Health Care | 3.4896| 1.6| 6/3
Real Estate | 1.3230| 0.2| 18/8
Consumer Staples | -2.2509| -0.3| 2/9
Communication Services | -6.2349| -0.7| 2/5

US
By Rita Nazareth and Lu Wang
(Bloomberg) — Stocks rallied a day after violence rocked the U.S. Capitol, with investors firmly focused on the prospect for more stimulus and the likelihood that calm will prevail as Joe Biden takes the presidency. All major U.S. equity benchmarks notched all-time highs, with about 70% of the companies in the S&P 500 in the green and the Nasdaq 100 jumping 2.5%. The Dow Jones Transportation Average — a proxy for economic activity — also hit a record, while the Russell 2000 Index of small caps extended a three-day advance to almost 8%. Tesla Inc. surged after RBC Capital Markets upgraded the stock, noting it was “completely wrong” with a previous bearish view. Another notable call came from Goldman Sachs Group Inc., which said banks have “moved back into vogue” due to optimism about fiscal aid and rising rates. Bitcoin pared gains after topping $40,000.
House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer demanded that President Donald Trump’s cabinet immediately remove him from office and threatened a new drive to impeach him if they don’t act. Democrats, who already have a majority in the House, are set to take control of the Senate and presidency, paving the way for Biden to bring his legislative agenda to life and reshape the economy. While campaigning in Georgia before the runoff elections, he vowed that $2,000 stimulus checks would be sent out “immediately” if his party won the state. “Markets (rightly, in our view) see the U.S. government as ultimately a stable-enough set of institutions even if things occasionally go pear-shaped,” Nick Colas, co-founder of DataTrek Research, wrote in a note to clients. “Politics play second fiddle to economic and corporate fundamentals when it comes to setting asset prices. The country’s economic future coming out of the pandemic remains promising.”
Data Thursday showed that growth at U.S. service providers unexpectedly accelerated as gains in business activity and new orders helped offset a decline in a measure of employment. Friday’s jobs report is forecast to show a sharp slowdown in hiring. Federal Reserve Bank of Dallas President Robert Kaplan said officials shouldn’t intervene to slow rising bond yields because that’s expected to happen as the economy recovers.

These are some of the main moves in markets:
Stocks
* The S&P 500 increased 1.5% at 4 p.m. New York time.
* The Stoxx Europe 600 Index gained 0.5%.
* The MSCI Asia Pacific Index rose 0.8%.
Currencies
* The Bloomberg Dollar Spot Index jumped 0.6%.
* The euro declined 0.5% to $1.2266.
* The Japanese yen depreciated 0.8% to 103.82 per dollar.
Bonds
* The yield on 10-year Treasuries rose four basis points to 1.08%.
* Germany’s 10-year yield declined less than one basis point to -0.52%.
* Britain’s 10-year yield climbed four basis points to 0.284%.
Commodities
* West Texas Intermediate crude rose 0.6% to $50.95 a barrel.
* Gold lost 0.2% to $1,914.70 an ounce.
–With assistance from Gregor Stuart Hunter, Andreea Papuc, Anchalee Worrachate, Claire Ballentine, Katherine Greifeld, Nancy Moran and Sophie Caronello.

Have a lovely evening.

Be magnificent!
As ever,

Carolann

Because of his compassion, a man can become courageous.
Because of his economy, a man may become generous.  Because of his humility,
a man can become a leader.   -Lao Tzu, 6^th c. BC.

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: Epiphany or Twelfth Day, Three Kings Day

Joan of Arc, saint b. 1412
Carl Sandburg poet, b. 1878
Kahlil Gibran, b. 1883
Alan Watts, writer, b. 1916Break out the king cakes! It’s Epiphany, also known as Twelfth Night or Three Kings’ Day, which marks the start of Carnival season.

2001 With the vanquished Vice President Al Gore presiding, Congress certified Republican George W. Bush the winner of the close and bitterly contested 2000 presidential election. Go to article »

1941: US President Franklin Roosevelt makes hi “Four Freedoms” speech (freedom of speech and worship; freedom frow want and fear) during his US State of Union  address.

Astronomers agree: Universe is nearly 14 billion years old

A black hole is missing. 

The Late Night Hosts:
“[Imitating Trump] ‘Hello, is this the secretary of state of Arizona? Are you happy with your internet service? What if I told you you could combine Wi-Fi and cable for the price of only 11,000 votes?” — SETH MEYERS

“If this were an after-school special, this is the part where we would tell Mike Pence that if the president says he won’t like you unless you give him what he wants, then he doesn’t really care about you. He should like you for who you are — although we understand why he wouldn’t, because who you are is Mike Pence.” — STEPHEN COLBERT

“Poor Mike Pence. He hasn’t been this stressed out since the time he saw a woman in short sleeves.” — JIMMY KIMMEL
PHOTOS OF THE DAY

Despite warning issued by health authorities, Bulgarian men perform the traditional Horo dance in the city winter waters of the Tundzha river. Traditionally, an Eastern Orthodox priest throws a cross in the river.
CREDIT: NIKOLAY DOYCHINOV/AFP VIA GETTY IMAGES

A young boy holds the cross as believers stand in the icy Tundzha River, some waving national flags to recover a crucifix cast by a priest in an old ritual marking the feast of Epiphany, Wednesday, Jan 6, 2021. The legend goes that the person retrieves the wooden cross will be freed evil spirits and will be healthy throughout the year.
CREDIT:VALENTIA PETROVA/AP

Les Peebles dives into the River Ribble near Stainforth in North Yorkshire. Mr Peebles is swimming in the wild every day in January to raise money for the homelessness charity Crisis
CREDIT: DANNY LAWSON/PA
Market Closes for January 6^th, 2021 

Market Index	Close	Change
Dow Jones	30829.40	+437.80
		+1.44%
S&P 500	3748.14	+21.28
		+0.57%
NASDAQ	12740.793	-78.167 -0.61%
TSX	17828.11	+145.60
		+0.82%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27055.94	-102.69
		-0.38%
HANG SENG	27692.30	+42.44
		+0.15%
SENSEX	48174.06	-263.72
		-0.54%
FTSE 100*	6841.86	+229.61 +3.47%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.754	0.713
CND. 30 Year Bond	1.364	1.289
U.S.    10 Year Bond	1.0372	0.9549
U.S. 30 Year Bond	1.8099	1.7081

Currencies

BOC Close	Today	Previous
Canadian $	0.78880	0.78922
US $	1.26775	1.26707
Euro Rate 1 Euro=		Inverse
Canadian $	1.56287	0.63985
US $	1.23280	0.81116

Commodities

Gold	Close	Previous
London Gold Fix	1940.35	1943.20
Oil
WTI Crude Future	50.63	49.93

Market Commentary:
On this day in 1933, the New York Stock Exchange for the first time began requiring listed companies to have their annual financial statements prepared by an independent auditor.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks rose on Wednesday, closing shy of record highs, amid chaos in the U.S. Capitol.
The S&P/TSX Composite index rose 0.8%, giving back some of its earlier gains of as much as 1.4% as pro-Trump mobs stormed the legislature.
Pot stocks outperformed as Democrats, seen as more positive for the cannabis industry, edged closer to control of the U.S. Senate. After the markets closed, it was announced that Democrats won both seats in the Georgia runoff elections.
Canada’s economy and financial markets are moving in opposite directions as investors drive up asset prices in response to cheap-money policies. That trend will continue in the months ahead, according to Manulife’s Frances Donald.
Commodities
* Western Canadian Select crude oil traded at a $15.30 discount to West Texas Intermediate
* Spot gold fell 1.6% to $1,919.23 an ounce
FX/Bonds
* The Canadian dollar was little changed at C$1.2672 per U.S. dollar
* The 10-year Canada government bond yield rose 4 basis points to 0.749%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose for the third day, climbing 0.8 percent, or 145.6 to 17,828.11 in Toronto. The index advanced to the highest closing level since Feb. 21.
Today, financials stocks led the market higher, as 9 of 11 sectors gained; 137 of 221 shares rose, while 81 fell. Toronto-Dominion Bank contributed the most to the index
gain, increasing 2.8 percent. Cronos Group Inc. had the largest increase, rising 14.2 percent. Insights
* The index advanced 4.2 percent in the past 52 weeks. The MSCI  AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 0.8 percent below its 52-week high on Feb. 20, 2020 and 59.6 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 1.6 percent in the past 5 days and rose 1.8 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.9 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$2.73t
* 30-day price volatility rose to 8.81 percent compared with 8.61 percent in the previous session and the average of 9.92 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 101.4456| 1.9| 22/4
Industrials | 25.9231| 1.2| 17/12
Materials | 16.6714| 0.7| 28/23
Consumer Discretionary | 14.0085| 2.1| 11/2
Health Care | 12.4456| 5.9| 6/3
Utilities | 9.9204| 1.1| 13/3
Communication Services | 3.8571| 0.4| 3/4
Real Estate | 1.9443| 0.4| 15/11
Energy | 0.0995| 0.0| 14/7
Consumer Staples | -2.3721| -0.4| 6/4
Information Technology | -38.3431| -2.2| 2/8
US
By Rita Nazareth and Claire Ballentine
(Bloomberg) — U.S. stocks stabilized in the green, though remained well off session highs after protesters surged into the U.S. Capitol, forcing a lockdown that interrupted certification of the presidential election.
The S&P 500 trimmed its advance to 0.6% at the close of trading in New York, after rallying as much as 1.5% earlier Wednesday. Equities had been on track for a record, buoyed by speculation that a Democratic control of Congress could unleash a torrent of spending to revive growth. That sparked a reflation trade, with investors pouring into small caps and banks, companies that benefit from an economic rebound. Tech shares lagged behind.
Democrats will take control of the U.S. Senate for the first time in six years, NBC and CBS said late in the day. Investors’ buoyant mood was pierced, but not sunk, when Vice President Mike Pence left the floor of Congress as hundreds of protesters swarmed past barricades surrounding the building where lawmakers were debating Joe Biden’s victory in the Electoral College.
     “Apparently, elevated investor sentiment knows no bounds,” said Adam Phillips, director of portfolio strategy at EP Wealth Advisors. “Obviously, the reflation trade stemming from last night’s election results is driving the markets, but it takes a special set of blinders to ignore what we are seeing in real-time.” Democrats claimed one of the two Senate seats contested in Georgia and led in the other tight race. Two wins would give Biden’s party control of Congress and smooth the path for some of his spending policies. That’s fueled bets that increased stimulus will boost the economy and spark inflation. The 10-year Treasury yield climbed past 1% for the first time since March.
“The growth-into-value rotation may be reinforced after the results of the Georgia Senate election amid the prospect of a higher fiscal stimulus bill and steeper yield curve, which would benefit banks and other non-tech companies,” David Bahnsen, chief investment officer of the Bahnsen Group in Newport Beach, California, wrote in a note to clients.
Congress passed at year’s end a $900 billion spending deal to bolster an economy showing signs of slowing as the raging virus prompts stricter lockdowns across the country. The number of employees at U.S. businesses unexpectedly declined in December for the first time since April, underscoring the ongoing labor-market fallout from the pandemic. The figures preceded the monthly jobs report on Friday, which is projected to show weaker payroll growth. U.S. 10-year breakeven — a market gauge of inflation expectations over the next decade — topped 2% this week for the first time since 2018, having gained in each of the last three months. While the pandemic is still raging with the rollout of vaccines in the early stages, the risk is that further signs of inflationary pressure could start prompting bets on Fed rate hikes.
For Matt Miskin, co-chief investment strategist at John Hancock Investment Management, the ball will be in the Fed’s court next and how policy makers will react to this evolving political backdrop.
“They have been wanting more fiscal support, well now they have it, and it is coming with a cost — higher interest rates based on Treasury yields rising,” Miskin noted. “We will see what the Fed’s pain threshold is for higher Treasury yields in the first half of 2021. The tug-of-war between monetary and fiscal policy will be key to markets. While the fiscal side is looking more promising based on the results today, monetary policy may take a step back.”

These are some of the main moves in markets:
Stocks
* The Stoxx Europe 600 Index jumped 1.4%.
* The MSCI Asia Pacific Index declined 0.4%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%.
* The euro advanced 0.2% to $1.2324.
* The Japanese yen weakened 0.3% to 103.04 per dollar.
Bonds
* The yield on 10-year Treasuries rose eight basis points to 1.03%.
* Germany’s 10-year yield jumped six basis points to -0.52%.
* Britain’s 10-year yield rose three basis points to 0.243%.
Commodities
* West Texas Intermediate crude advanced 0.9% to $50.39 a barrel.
* Gold lost 1.6% to $1,918.97 an ounce.
–With assistance from Ksenia Galouchko, Andreea Papuc, Anchalee Worrachate, Lynn Thomasson and Kamaron Leach.
Have a lovely evening.

Be magnificent!

As ever,

Carolann

Anyone can hold the helm when the sea is calm.
                             –Publilius Syrus, 85-43BC

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. 5, 1914, Henry Ford, head of the Ford Motor Company, introduced a minimum wage scale of $5 per day.  Go to article »
January 5, 1919: German Workers’ Party forms, precursor to the National Socialist German Workers’ Party (Nazi).

The Milky Way gets a new origin story.

The galaxy is probably full of dead civilizations.

Massive “Superhenge” found buried just two miles from Stonehenge.

For our former 52 Places traveler Sebastian Modak, Cartagena’s waters were “bluer than anything I’ve seen since.” We may not be able to go swimming, but he suggests a few ways to channel the magic of the city at home. –The New York Times.

Late Night Show hosts are back after the holidays:
“He had another perfect call over the weekend.” — JIMMY KIMMEL

“Trump asked him to somehow find enough votes to flip Georgia, so that he would win the state by one vote. One vote. Trump was like, ‘Because if we’re going to do this,
we can’t make it obvious.’” — JIMMY FALLON

“Now, now, buckle up everybody, because this call is like if Watergate and the Ukraine scandal had a baby that they made on the ‘Access Hollywood’ bus,” Stephen Colbert said. “When you’re a star, they let you do it.”

“He tried everything. He bragged, he challenged, he threatened. He told the secretary of state he would come to Georgia and eat all their peaches — nothing.” — JIMMY KIMMEL
PHOTOS OF THE DAY

An Antony Gormley statue on a building in Peterborough, Cambridgeshire, appears to balance the moon and a pigeon
CREDIT: PAUL MARRIOTT

Lovebirds perch on a branch at at Antalya Zoo in Turkey
CREIDT: MUSTAFA CIFTCI/ANADOLU AGENCY VIA GETTY IMAGES

The American Kennel Club has announced that the tiny, chipper Biewer – pronounced like “beaver” – has become its 197^th recognized breed. That makes the toy dogs eligible to compete for best in show at many U.S. events, including the prestigious Westminster Kennel Club show, which will be held in June this year instead of its usual February date.
CREDIT: BIWER TERRIER CLUB OF AMERICA AND AMERICAN KENNEK CLUB VIA AP
Market Closes for January 5^th, 2021 

Market Index	Close	Change
Dow Jones	30391.60	+167.71
		+0.55%
S&P 500	3726.86	+26.21
		+0.71%
NASDAQ	12818.961	+120.514 +0.95%
TSX	17682.51	+154.74
		+0.88%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27158.63	-99.75
		-0.37%
HANG SENG	27649.86	+177.05
		+0.64%
SENSEX	48437.78	+260.98
		+0.54%
FTSE 100*	6612.25	+40.37 +0.61%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.713	0.677
CND. 30 Year Bond	1.289	1.224
U.S.    10 Year Bond	0.9549	0.9132
U.S. 30 Year Bond	1.7081	1.6542

Currencies

BOC Close	Today	Previous
Canadian $	0.78922	0.78247
US $	1.26707	1.27801
Euro Rate 1 Euro=		Inverse
Canadian $	1.55792	0.64188
US $	1.22955	0.81331

Commodities

Gold	Close	Previous
London Gold Fix	1943.20	1887.60
Oil
WTI Crude Future	49.93	47.62

Market Commentary:
Twenty-year mortgages are going for 0% in Denmark.

On this day in 1999, Amazon said fourth-quarter sales totaled $250 million, more than triple the level of the same quarter a year earlier. Fixated on its revenue growth (and ignoring widening net losses), traders went wild. The stock surged on a trading volume of 31.4 million shares, making it the most active stock on the Nasdaq.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian shares climbed on Tuesday, extending Monday’s gains as energy stocks surged with oil prices.
The S&P/TSX Composite index rose 0.9% to 17,682.51, edging closer to its all-time high of 17,944.06 reached last Feb. 20.
Energy stocks were the main drivers as Saudi Arabia pledged to voluntarily cut oil output by an extra 1 million barrels a day from next month, while most of the OPEC+ alliance agreed to hold output steady.
Meanwhile, Canada’s vaccine rollout has been slower than expected and the laggardly pace could prompt a reassessment of how robust the country’s economic recovery will be, according to Bank of Montreal. Only 0.32% of the Canadian population had been inoculated as of Monday, making it a “relative underperformer” versus peers such as the U.S. and the U.K., which have both vaccinated 1.4%, Doug Porter, chief economist at the Toronto- based lender, said Tuesday in a report to investors.
Commodities
* Western Canadian Select crude oil traded at a $15.35 discount to West Texas Intermediate
* Spot gold rose 0.3% to $1,948.77 an ounce
FX/Bonds
* The Canadian dollar rose 0.8% to C$1.2679 per U.S. dollar
* The 10-year Canada government bond yield rose 3 basis points to 0.707%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.9 percent, or 154.74 to 17,682.51 in Toronto.
The move was the biggest since rising 1.1 percent on Nov. 24.
Today, energy stocks led the market higher, as 8 of 11 sectors gained; 151 of 222 shares rose, while 71 fell. Enbridge Inc. contributed the most to the index gain, increasing 3.6 percent. Crescent Point Energy Corp. had the largest increase, rising 9.6 percent.
Insights
* The index advanced 3.6 percent in the past 52 weeks. The MSCI  AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 1.6 percent below its 52-week high on Feb. 20, 2020 and 58.3 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.3 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 26.7 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$2.71t
* 30-day price volatility rose to 8.61 percent compared with 8.45 percent in the previous session and the average of 9.98 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 102.8507| 5.2| 23/0
Financials | 19.2157| 0.4| 21/5
Industrials | 17.9470| 0.8| 24/5
Information Technology | 16.3083| 0.9| 7/3
Communication Services | 9.7907| 1.1| 6/1
Consumer Discretionary | 7.6980| 1.1| 9/4
Real Estate | 3.8093| 0.7| 21/5
Health Care | 2.0097| 1.0| 5/4
Consumer Staples | -0.6318| -0.1| 5/6
Utilities | -1.7795| -0.2| 11/5
Materials | -22.4833| -0.9| 19/33
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks rose and bonds dropped amid key elections in Georgia that will decide which party controls the U.S. Senate for the next two years, setting the scope of President-elect Joe Biden’s agenda.
In a session marked by thin trading volume, the S&P 500 rebounded after suffering its worst start to a year since 2016. Energy shares surged as oil traded near $50 a barrel, while the Russell 2000 Index of smaller companies jumped 1.7%. With markets factoring in a greater chance of a Democratic sweep in Congress, some analysts see the potential for increased volatility. In anticipation to the outcome of the vote, which will likely be known on Wednesday, Treasury yields climbed — with a key curve measure reaching its steepest level in four years. The dollar slid to the lowest since February 2018. Whether or not Wall Street is getting more comfortable with the idea of Democrats taking control of both chambers of Congress, the scenario implies the possibility of a more generous stimulus package. That could also potentially lead to upward pressure on inflation and interest rates as well as higher taxes to pay for fiscal aid. Conversely, should either Republican incumbent win re-election, the party would have enough votes to block any Biden initiative. “We don’t view a Democrat Senate as a bearish game changer in the short term because there would still be a lot of positives in this market,” Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter, wrote in a note to clients. “We’d look to buy on any material dip, but we should brace for more volatility going forward if that’s the outcome from today’s election.”
Meanwhile, President Donald Trump failed again to invalidate his election loss in Georgia and allow the state’s Republican-led legislature to declare him the winner – his latest courtroom defeat in a quixotic effort to remain in office despite losing the Nov. 3 vote. Another news development that caught investors’ attention on Tuesday was the New York Stock Exchange’s surprise move to spare three major Chinese telecommunications companies from being delisted. Treasury Secretary Steven Mnuchin called NYSE Group Inc. President Stacey Cunningham to express his disapproval with the decision, according to two people familiar with the matter. Several U.S. officials said the move marks a temporary reprieve, not a sign that tensions between Washington and Beijing are easing.
Elsewhere, Saudi Arabia surprised the oil market with a large reduction in its output for February and March, carrying a greater burden of OPEC+ cuts while other producers hold steady or make small increases.
What to watch this week:
* U.S. Congress meets to count electoral votes and declare the winner of the 2020 Presidential election Wednesday.
* FOMC minutes out Wednesday.
* U.S. unemployment report for December is due Friday.

These are some of the main moves in markets:
Stocks
* The S&P 500 rose 0.7% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index declined 0.2%.
* The MSCI Asia Pacific Index climbed 1.1%.
Currencies
* The Bloomberg Dollar Spot Index sank 0.5%.
* The euro increased 0.4% to $1.2297.
* The Japanese yen appreciated 0.5% to 102.66 per dollar.
Bonds
* The yield on 10-year Treasuries rose three basis points to 0.94%.
* Germany’s 10-year yield gained three basis points to -0.58%.
* Britain’s 10-year yield gained four basis points to 0.209%.
Commodities
* West Texas Intermediate crude surged 4.9% to $49.93 a barrel.
* Gold strengthened 0.3% to $1,949.70 an ounce.
–With assistance from Andreea Papuc, Cecile Gutscher, Yakob Peterseil, David Wilson, Nancy Moran and Sophie Caronello.

Have a lovely evening.

Be magnificent!
As ever,

Carolann

If the only prayer you say throughout your life is “Thank You,” then that will be enough.
                                                                                     -Elie Wiesel, 1928-2016

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 New Year.

Ring out the old, ring in the new,
Ring, happy bells, across the snow:
The year is going, let him go;
Ring out the false, ring in the true.
     -Alfred, Lord Tennyson, 1850

Isaac Newton, physicist, b. 1643.
Louis Braille, b. 1809
Jacob Grimm, writer, b. 1785

2007 Rep. Nancy Pelosi, D-Calif., became the first female speaker of the House. Go to article »

A university that published its annual list of “banished” words and phrases has named the ones it’d like to see less of in 2021. Among them: “unprecedented” and “uncertain times.”

Where to go in 2021.

Ancient pharaohs rowed the Nile. Now Egyptians have rediscovered the practice, finding a new perspective on the river that shaped their country.  The Nile birthed Egyptian civilization thousands of years ago, and still sustains it. But few Cairenes have ever seen the body of water itself because restaurants, private clubs and cruises have hidden much of the Nile from all but those who can pay.  During a year with limited travel possibilities, our World Through a Lens series offered Times readers a weekly escape. Here are some of the highlights.

Our critics suggest these 9 new books and a quirky new comedy from the makers of “Bob’s Burgers”; they also rounded up 11 movies, TV shows, performances, music albums and exhibits they are looking forward to in 2021. –The NY Times.

PHOTOS OF THE DAY

Ondarreta Beach at dawn, in San Sebastian, Basque Country, northern Spain.
CREDIT: JAVIER ETXEZARRETA/EPA-EFE/REX

A leopard playing with a baby impala, just a few minutes before eventually killing it. A safari guide from Cape Town captured the moment at Greater Kruger National park.
CREDIT: KARL VAN DER WESTHUIZEN/CATERS NEWS

Prince George standing on foam blocks during a Royal Mail photoshoot for a stamp sheet to mark the 90th birthday of Queen Elizabeth II.
CREDIT: RANALD MACKECHNIE

Market Closes for January 4^th, 2021 

Market Index	Close	Change
Dow Jones	30223.89	-382.59
		-1.25%
S&P 500	3700.65	-55.42
		-1.48%
NASDAQ	12698.449	-189.833 -1.47%
TSX	17527.77	+94.41
		+0.54%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27258.38	-185.79
		-0.68%
HANG SENG	27472.81	+241.68
		+0.89%
SENSEX	48176.80	+307.82
		+0.64%
FTSE 100*	6571.88	+111.36 +1.72%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.677	0.677
CND. 30 Year Bond	1.224	1.212
U.S.    10 Year Bond	0.9132	0.9132
U.S. 30 Year Bond	1.6542	1.6449

Currencies

BOC Close	Today	Previous
Canadian $	0.78247	0.78565
US $	1.27801	1.27283
Euro Rate 1 Euro=		Inverse
Canadian $	1.56569	0.63870
US $	1.22510	0.81626

Commodities

Gold	Close	Previous
London Gold Fix	1887.60	1887.60
Oil
WTI Crude Future	47.62	48.52

Market Commentary:
On this day in 1865, the New York Stock Exchange opened its first permanent building at the corner of Broad and Wall Streets in Manhattan, after decades of shifting from one rented or borrowed space to another.

Canada
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose 0.5 percent at 17,527.77 in Toronto. The move was the biggest since rising 0.7 percent on Dec. 15 and follows the previous session’s decrease of 0.6 percent. Today, materials stocks led the market higher, as 7 of 11 sectors gained; 108 of 222 shares rose, while 108 fell. Barrick Gold Corp. contributed the most to the index gain, increasing 8.6 percent. Brookfield Property Partners LP had the largest increase, rising 18.4 percent.
Insights
* The index advanced 2.7 percent in the past 52 weeks. The MSCI AC Americas Index gained 16 percent in the same period
* The S&P/TSX Composite is 2.5 percent below its 52-week high on Feb. 20, 2020 and 56.9 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 0.4 percent in the past 5 days and rose 1.3 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 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$2.69t
* 30-day price volatility rose to 8.45 percent compared with 8.35 percent in the previous session and the average of 10.29 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 155.3726| 6.5| 44/8
Energy | 15.8985| 0.8| 16/5
Communication Services | 9.4184| 1.1| 5/2
Health Care | 8.3112| 4.2| 5/4
Consumer Staples | 6.8639| 1.0| 10/0
Utilities | 3.8677| 0.4| 10/5
Real Estate | 0.0372| 0.0| 3/23
Consumer Discretionary | -8.2109| -1.2| 1/12
Industrials | -16.3523| -0.7| 3/25
Information Technology | -37.0390| -2.1| 3/6
Financials | -43.7397| -0.8| 8/18

US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Volatility gripped financial markets, spurring a stock selloff amid concern that a surge in global coronavirus cases could crimp the nascent economic recovery. Traders were also jittery ahead of Tuesday’s runoff elections in Georgia, which will determine whether Democrats have control of Congress to push President-elect Joe Biden’s agenda. While equities pared a slide that drove major U.S. benchmarks down more than 2% earlier Monday, the S&P 500 still had its worst day in almost 10 weeks. Giants Apple Inc. and Amazon.com Inc. sank at least 2.1%, Boeing Co. weighed on the Dow Jones Industrial Average after an analyst downgrade, and Tesla Inc. climbed after coming close to meeting its vehicle- deliveries goal. The Cboe Volatility Index — a gauge of expected price swings for the S&P 500 known as the VIX – surged the most since October.
Global coronavirus infections topped 85 million, with Prime Minister Boris Johnson imposing a third lockdown across England and Japan considering another state of emergency for the Tokyo area. Daily cases in the U.S. soared to a record of nearly 300,000 following the New Year holiday, and an easier-to-spread variant detected for the first time last week could intensify the surge. Meanwhile, the political drama of 2020 is also bleeding into the first week of 2021 — with a pivotal election in Georgia, promises of protests in the streets and President Donald Trump’s dragged-out fight over the November vote threatening to tear apart the Republican Party.
“Equity markets will remain sensitive to developments tied to the pandemic that have held the U.S. and global economy hostage for nearly a year,” John Stoltzfus, chief investment strategist at Oppenheimer, wrote in a note. “A nearer hurdle for the markets to consider will be the outcome of the runoff elections for two seats in the U.S. Senate taking place in Georgia. Should the Democrats win both seats, we expect the S&P 500 to become vulnerable to a downdraft in the neighborhood of 6% to 10%” from the end of 2020. For Stoltzfus, it appears that equities have priced in a Republican victory in at least one of the two contests. He added that “markets prefer that Washington’s Capitol Hill have enough checks and balances in place to keep political power out of just one party’s hands.”
Elsewhere, traders see U.S. inflation averaging at least 2% per year over the coming decade — the first time expectations have climbed that high since 2018. Bitcoin’s rally fizzled out as the famously volatile cryptocurrency sank as much as 17%. Oil dropped as OPEC+ talks were unexpectedly suspended after a majority of members, including Saudi Arabia, opposed Russia’s proposal for a February supply hike.
What to watch this week:
* On Tuesday, the state of Georgia holds a run-off election for two U.S. Senate seats that will decide control of the chamber.
* U.S. Congress meets to count electoral votes and declare the winner of the 2020 Presidential election Wednesday.
* FOMC minutes out Wednesday.
* U.S. unemployment report for December is due Friday.

These are some of the main moves in markets:
Stocks
* The S&P 500 decreased 1.5% at 4 p.m. New York time.
* The Stoxx Europe 600 Index climbed 0.7%.
* The MSCI Asia Pacific Index advanced 0.5%.
Currencies
* The Bloomberg Dollar Spot Index climbed 0.1%.
* The euro increased 0.2% to $1.2244.
* The Japanese yen was little changed at 103.17 per dollar.
Bonds
* The yield on 10-year Treasuries climbed one basis point to 0.92%.
* Germany’s 10-year yield declined four basis points to -0.60%.
* Britain’s 10-year yield decreased two basis points to 0.173%.
Commodities
* The Bloomberg Commodity Index advanced 0.7%.
* West Texas Intermediate crude fell 2.5% to $47.31 a barrel.
* Gold rose 2.4% to $1,943.38 an ounce.
–With assistance from Andreea Papuc, Yakob Peterseil, Cecile Gutscher, Sarah Ponczek and Kamaron Leach.

Have a lovely evening.

Be magnificent!
As ever,

Carolann

You are never too old to set another goal or to dream a new dream.
                                                             -C.C. Lewis, 1898-1963

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 New Year’s Eve.  At long last, the end of 2020.

December 31, 1857:  Britain’s Queen Victoria decided to make Ottawa the capital of Canada. Go to article »

The month of January is named for the Roman god Janus.  Janus presides over doors, beginnings, and endings, and he is depicted as having two faces: one looking toward the new year , and one looking back at the old.

The fascinating history behind the Times Square ball drop
Did you know? The design for the ball was based on a “time ball,” a nautical device that helped sailors synchronize their on-board instruments.
The ball will still drop tonight, but for the first time in decades, Times Square will be closed to the public on New Year’s Eve.

Watch Boston Dynamics robots dance to ‘Do You Love Me’
No no no, we can’t think of the robots as cute and charming! That’s part of their master plan!

Here is how other cities will say goodbye to 2020.

Here are 74 fun facts that appeared in The Times this year.

Forty of the Best Movies on Netflix Right Now
Just as mud is a good place to find gold nuggets, Netflix, with some careful sifting, is a good place to find great movies.

PHOTOS OF THE DAY

Asthore fishing boat is seen in Mount’s Bay, near Newlyn Harbour, which could see significant impact to the fishing industry as a result of the Brexit deal
CREDIT: REUTERS/TOM NICHOLSON
A woman walks past decorations installed for the New Year and Christmas holiday season in Zaryadye Park in Moscow, Russia
CREDIT: REUTERS/EVGENIA NOVOZHENINA

A stag pictured in Glencoe with the famous mountain Buachaille Etive Mor as a backdrop
CREDIT: COLIN FISHER/ALAMY LIVE NEWS

Swaledale, Yorkshire Dales National Park viewed by a bright full moon on a cold frosty night from the Buttertubs Pass, North Yorkshire
CREDIT: WAYNE HUTCHINSON/ALAMY LIVE NEWS
Market Closes for December 31^st, 2020 

Market Index	Close	Change
Dow Jones	30606.48	+196.92
		+0.65%
S&P 500	3756.07	+24.03
		+0.64%
NASDAQ	12888.281	+18.279 +0.14%
TSX	17433.36	-112.45
		-0.64%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27444.17	-123.98
		-0.45%
HANG SENG	27231.13	+84.02
		+0.31%
SENSEX	47751.33	+5.11
		+0.01%
FTSE 100*	6460.52	-95.30 -1.45%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.677	0.705
CND. 30 Year Bond	1.212	1.244
U.S.    10 Year Bond	0.9132	0.9248
U.S. 30 Year Bond	1.6449	1.6576

Currencies

BOC Close	Today	Previous
Canadian $	0.78565	0.78419
US $	1.27283	1.27520
Euro Rate 1 Euro=		Inverse
Canadian $	1.55548	0.64289
US $	1.22206	0.81829

Commodities

Gold	Close	Previous
London Gold Fix	1887.60	1874.30
Oil
WTI Crude Future	48.52	48.40

Market Commentary:
On this day in 1999, the New York Stock Exchange closed three hours early to allow technical experts to prepare for the possibility of “Y2K” computer malfunctions, which were almost universally predicted. Nothing happened.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities closed out 2020 with a slight gain, though lagged their peers south of the border.
The S&P/TSX Composite Index advanced 2.2% this year, while the S&P 500 Index rose 16%. Oil & gas stocks were among laggards as lockdowns continued, denting demand.
Here’s a look at some companies that benefited — and those that have suffered this year.
Winners:
* Trillium Therapeutics Inc. (+1,308%): Cancer drug developer surged after data, and has been a hedge fund favorite
* Ballard Power Systems Inc. (+221%): Clean energy and electric-vehicle exposure has propelled Ballard
* Shopify Inc. (+178%) and Lightspeed POS Inc. (+149%): Tech platforms surged during Covid-19 lockdowns, and the two have emerged as Canadian tech darlings
* New Gold Inc. (+143%) and Teranga Gold Corp. (+95%): Gold acted as a haven during the pandemic, while fiscal uncertainty remains
* Cargojet Inc. (+108%): Cargo shipping has hit peak levels as many retail storefronts remain closed during lockdowns
* Canfor Corp. (+89%): Lockdowns boosted lumber futures on home renovations

Losers:
* Suncor Energy Inc. (-50%), Inter Pipeline Ltd. (-47%), Cenovus Energy Inc. (-41%): Energy stocks lagged as oil briefly turned negative in the early stages of lockdowns along with a Saudi-Russia price war
* Air Canada (-53%): Travel bans crushed global flying
* Cominar Real Estate Investment Trust (-43%): Quebec REIT looking at strategic alternatives given office and retail exposure

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell 0.6 percent at 17,433.36 in Toronto. The move was the biggest since falling 0.7 percent on Dec. 18 and follows the previous session’s little change.
Shopify Inc. contributed the most to the index decline, decreasing 3.1 percent. Aurora Cannabis Inc. had the largest drop, falling 4.8 percent.
Today, 164 of 222 shares fell, while 55 rose; 10 of 11 sectors were lower, led by materials stocks.
Insights
* So far this week, the index fell 1.1 percent, heading for the biggest decline since the week ended Oct. 30
* This quarter, the index rose 8.1 percent
* This month, the index rose 1.4 percent
* This year, the index rose 2.2 percent, poised for the best year since 2019
* 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 3 percent below its 52-week high on Feb. 20, 2020 and 56 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 0.7 percent in the past 5 days and rose 1.4 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.2 on a trailing basis and 23.5 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$2.71t
* 30-day price volatility rose to 8.35 percent compared with 8.14 percent in the previous session and the average of 11.31 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -40.6551| -1.7| 2/50
Information Technology | -34.7168| -1.9| 5/5
Energy | -10.8356| -0.6| 3/20
Consumer Discretionary | -8.4242| -1.2| 1/12
Industrials | -6.4573| -0.3| 10/19
Consumer Staples | -6.1071| -0.9| 0/11
Communication Services | -3.4275| -0.4| 0/7
Utilities | -2.9387| -0.3| 3/12
Health Care | -0.4168| -0.2| 3/6
Real Estate | -0.3149| -0.1| 13/11
Financials | 1.8369| 0.0| 15/11
US
By Vildana Hajric and Sarah Ponczek
(Bloomberg) — U.S. stocks climbed to a record high on the year’s final trading day amid thin trading. The dollar eked out an advance.
The S&P 500 Index and Dow Jones Industrial Average turned positive in the afternoon and ended at all-time highs. Volume was about 15% below average on the S&P. Financial companies were among the best performers, while energy producers slumped. European stocks dipped. Markets in Japan, Germany and South Korea were shut for New Year’s Eve.
In Asia, China’s benchmark CSI 300 Index closed at a five-year high as officials gave the green light to its first coronavirus vaccine for general public use and data showed a steady economic recovery. The offshore yuan strengthened to the highest since June 2018.
The S&P 500 ended the year up more than 16%, leaving equities at rich valuations amid expectations that widespread vaccine distribution in 2021, central bank support and government aid will reignite economic growth and boost corporate profits. The gains were global, with the MSCI World Index of stocks at a record high after having risen 14% in 2020. “Investors are breathing a sigh of relief that some stimulus is getting out there,” said Chris Gaffney, president of world markets at TIAA Bank. This “has been an unprecedented year, and I think that some of the risks that we entered into 2020 with, we’re leaving without those risks.”
While volume on the S&P 500 was subdued Thursday relative to the norm for this year, it would’ve looked like an active day in 2019. Last year, an average 7 billion shares changed hands a day across U.S. exchanges. This year, a typical day has seen 10.8 billion shares trade.
Against a subdued backdrop in stocks this week, the frenzy in cryptocurrencies shows no signs of slowing down. Bitcoin vaulted above $29,000 on Thursday before pulling back. The digital asset has advanced about 50% in December for the biggest monthly jump since May 2019.
On the coronavirus front, global deaths from Covid-19 passed 1.8 million. New York state and Florida both shattered their previous daily records for cases. California became the third state to pass 25,000 fatalities, after New York and Texas. Governments across the globe urged people to celebrate the New Year at home. “You’ve seen kind of a few blissfully un-volatile days after what I think we can all agree was quite a year,” said Giorgio Caputo, senior fund manager at J O Hambro Capital Management. “It’s given market participants a holiday gift.”
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.6% as of 4 p.m. in New York.
* The Stoxx Europe 600 Index fell 0.3%.
* The MSCI Asia Pacific Index was little changed.
* The MSCI Emerging Market Index rose 0.1%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.1%.
* The euro decreased 0.7% to $1.2213.
* The British pound rose 0.3% to $1.3663.
* The Japanese yen fell 0.1% to 103.27 per dollar.
Bonds
* The yield on 10-year Treasuries fell one basis point to 0.91%.
* Germany’s 10-year yield was little changed at -0.575%.
* Britain’s 10-year yield decreased two basis points to 0.19%.
Commodities
* West Texas Intermediate crude was little changed at $48.42 a barrel.
* Gold rose 0.2% to $1,898.50 an ounce.
–With assistance from Andreea Papuc, Anchalee Worrachate and Claire Ballentine.
Have a wonderful long weekend everyone.

Be magnificent!
As ever,

Carolann

The beginning is always today.
   -Mary Wollstonecraft Shelley, 1797-1851

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: Full Moon tonight, also known as the cold moon.

Rudyard Kipling, author, b. 1865.
Bo Diddley, singer, b. 1928.
Sandy Koufax, baseball pitcher, b. 1935.
Tiger Woods, golfer, b. 1975.

December 30, 1950: Vietnam, Laos and Cambodia become independent states within the French Union.

On Dec. 30, 1972, the United States halted its heavy bombing of North Vietnam. Go to article »

If your New Year’s resolution is to “do better,” start here.-Bloomberg.

With the new year approaching here’s five ways to reset your goals for 2021. –The Telegraph

In Ancient Rome, New Year’s was on March 1^st.  The Roman calendar consisted of 10 months and 304 days, and the new year began at the vernal equinox.  The calendar, however, became out of sync, and in 46 BC, Julius Caesar created the Julian calendar, which closely resembles our modern Gregorian calendar.

New year is the glittering light to brighten the dream-lined pathway of future. -Munia Khan.
PHOTOS OF THE DAY

A diver in the Otoch Ha cave in Yucatan, Mexico
CREDIT: PETR POLACH/CATERS NEWS

The last full moon of 2020 rises over the snow capped Curbar Edge in the Peak District.
CREDIT: TOM MADDICK/SWNS

A handout photo made available by the United States Geological Survey shows the continuing eruption in the Halema’uma’u crater at Kilauea volcano, Hawaii
CREDIT: D DOWNS/USGS HANOUT/EPA-EFE/SHUTTERSTOCK
Market Closes for December 30^th, 2020 

 

Market Index	Close	Change
Dow Jones	30409.56	+73.89
		+0.24%
S&P 500	3732.04	+5.00
		+0.13%
NASDAQ	12870.004	+19.783 +0.15%
TSX	17545.81	+2.38
		+0.01%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27444.17	-123.98
		-0.45%
HANG SENG	27147.11	+578.62
		+2.18%
SENSEX	47746.22	+133.14
		+0.28%
FTSE 100*	6555.82	-46.83 -0.71%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.705	0.711
CND. 30 Year Bond	1.244	1.254
U.S.    10 Year Bond	0.9248	0.9347
U.S. 30 Year Bond	1.6576	1.6750

Currencies

BOC Close	Today	Previous
Canadian $	0.78419	0.78021
US $	1.27520	1.28171
Euro Rate 1 Euro=		Inverse
Canadian $	1.56837	0.63760
US $	1.22990	0.81307

Commodities

Gold	Close	Previous
London Gold Fix	1874.30	1875.00
Oil
WTI Crude Future	48.40	48.00

Market Commentary:
On this day in 1963, American Express Warehousing, a unit of American Express, declared bankruptcy after storage tanks in Bayonne, N.J., that were supposed to contain $150 million worth of salad oil turned out to hold nothing but seawater.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities were flat Wednesday after briefly turning negative.
The S&P/TSX Composite Index gained 0.01% in a mixed session. Materials and health care were among gainers while tech and real estate fell.
Gold notched a second straight gain as the dollar extended a slide to the lowest in more than two years. Copper slipped amid concern over the outlook for industrial-metals demand in China.
Canada is stepping up its virus response at the border by requiring all international travelers to present a negative Covid-19 test upon arrival.
Meanwhile, Bank of Montreal’s capital-markets division grabbed the top spot for Canadian equity sales in 2020, leading the ranking for the first time in a decade as the coronavirus pandemic pushed companies to stockpile cash.
Commodities
* Western Canadian Select crude oil traded at a $14.85 discount to West Texas Intermediate
* Spot gold rose 0.8% to ~$1,892 an ounce
FX/Bonds
* The Canadian dollar rose 0.5% to C$1.2760 per U.S. dollar
* The 10-year Canada government bond yield edged lower to 0.704%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite advanced slightly to 17,545.81 in Toronto. The move follows the previous session’s decrease of 0.5 percent.
Canadian Natural Resources Ltd. contributed the most to the index gain, increasing 1.9 percent. Fortuna Silver Mines Inc. had the largest increase, rising 7.2 percent.
Today, 141 of 222 shares rose, while 80 fell; 4 of 11 sectors were higher, led by materials stocks.
Insights
* This month, the index rose 2.1 percent
* This quarter, the index rose 8.8 percent
* This year, the index rose 2.8 percent, poised for the best year since 2019
* The index advanced 2.6 percent in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 2.4 percent below its 52-week high on Feb. 20, 2020 and 57 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.3 percent in the past 5 days and rose 2.1 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 23.7 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$2.71t
* 30-day price volatility fell to 8.14 percent compared with 8.17 percent in the previous session and the average of 11.45 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 43.7706| 1.8| 49/3
Health Care | 3.4845| 1.8| 8/1
Consumer Discretionary | 1.8946| 0.3| 8/5
Energy | 1.6331| 0.1| 19/4
Utilities | -0.3471| 0.0| 11/5
Industrials | -2.1197| -0.1| 18/11
Communication Services | -3.9513| -0.5| 1/6
Real Estate | -4.4195| -0.8| 7/18
Consumer Staples | -4.5745| -0.7| 2/9
Financials | -13.8250| -0.3| 15/11
Information Technology | -19.1677| -1.0| 3/7
US
By Vildana Hajric
(Bloomberg) — U.S. stocks climbed, with small-cap shares outperforming in one of the final trading sessions of 2020. The dollar continued its slide, weakening to the lowest in 2 ½ years.
Automakers were among the best performers as the S&P 500 Index edged higher, while the Russell 2000 gauge of smaller companies rallied about 1% for its biggest gain in almost two weeks. Travel and leisure companies rose in Europe after the U.K. approved a coronavirus shot by AstraZeneca Plc and the University of Oxford, offsetting pessimism sparked by a slower- than-planned rollout of shots in the U.S. Volumes were light during the holiday week, with trading in S&P 500 shares about 25% below the 30-day average. Bitcoin extended its record-breaking rally as it approached $29,000. Investors have pushed stocks to sky-high valuations this year on expectations that widespread vaccine distribution in 2021 will reignite economic growth and boost corporate profits.
The U.S. government has started sending Americans $600 payments for pandemic relief, but discouraging news came from Texas, where at least three shipments of Moderna Inc.’s vaccine arrived with signs that the shots had strayed from their required temperature range. “Investors continue to weigh stimulus hopes against negative pandemic developments,” Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter, wrote to clients. “Markets have aggressively priced in a lot of positive resolution to these events (and more) in 2021.” With a volatile year coming to a close, risk assets such as stocks, corporate bonds and Bitcoin are sitting at or near record highs. The MSCI World Index of global stocks is set to end the year about 14% higher, having surged almost 68% since its March low.
On the coronavirus front, daily deaths in Germany surpassed 1,000 for the first time since the outbreak began, with a record increase in the last 24 hours. A Chinese state-backed vaccine developer said one of its shots prevents Covid-19 in almost 80% of people. U.S. President-elect Joe Biden criticized vaccine- distribution efforts under President Trump as too slow.
Elsewhere, Bloomberg’s dollar gauge fell to its lowest since April 2018 as traders squared currency positions ahead of the year’s end amid thin liquidity. Emerging-market stocks reached the highest level since 2007 on buoyant inflows.

Here are some key events coming up:
* U.S. initial jobless claims figures are published Thursday.
* Most global stock markets are closed Friday for New Year’s Day.

These are the main moves in markets:
Stocks
* The S&P 500 Index gained 0.1% as of 4 p.m. in New York.
* The Russell 2000 Index added 1.1%.
* The Stoxx Europe 600 Index slipped 0.3%.
* The MSCI Emerging Market Index climbed 1.7%.
Currencies
* The Bloomberg Dollar Spot Index declined 0.4%.
* The euro rose 0.4% to $1.2294.
* The British pound climbed 0.9% to $1.3624.
* The Japanese yen strengthened 0.3% to 103.23 per dollar.
Bonds
* The yield on 10-year Treasuries slipped one basis point to 0.93%.
* Germany’s 10-year yield was little changed at -0.58%.
* Britain’s 10-year yield was little changed at 0.21%.
Commodities
* West Texas Intermediate crude rose 0.6% to $48.29 a barrel.
* Gold strengthened 0.7% to $1,891.61 an ounce.
–With assistance from Andreea Papuc.

Have a nice evening.

Be magnificent!
As ever,

Carolann

Be in love with your life.  Every minute of it.
                      -Jack Kerouac, 1922-1969

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:
1890- Massacre at Wounded Knee.

Pablo Casals, cellist, b. 1876.
Grigori Rasputin, mystic, b. 1916.
Marianne Faithful, singer, b. 1946.
Jude Law, actor, b. 1972.

On Dec. 29, On Dec. 29, 1940, during World War II, Germany began dropping incendiary bombs on London. Go to article »

Ancient snack stall uncovered in Pompeii, revealing bright frescoes and traces of 2,000-year-old street food.  Food carts and fancy advertising: Uniting humanity for thousands of years. 

The 11 meals a Bloomberg food writer remembers most from 2020.

David Attenborough is hopeful that the pandemic made humans appreciate nature more. 

-from The New York Times:
The coronavirus gave 2020 a new dictionary. There are some phrases whose use skyrocketed this year. Our journalists analyzed more than 20,000 business presentations to uncover the new lexicon.
“You’re on mute” was said on 1,000 percent more calls between executives and investors in 2020 compared with 2019. Uses of the word “humbled” rose 200 percent. The phrase “new normal” appeared nearly 3,000 times.

A breathtaking ‘Waltz of the Snowflakes’
No stage. Masks. In one performance, proof that art thrives even in the most challenging of times. (Click here to view) 

PHOTOS OF THE DAY

The waves hit the lighthouse of Mouro’s island in Cantabria, northern Spain. Storm Bella is expected to bring heavy rains and strong winds on its way through the country.
CREDIT: PEDRO PUENTE HOTOS/EPA-EFE/SHUTTERSTOCK

Horses on the gallops in the snow at Sam Drinkwater’s Granary Stables in Upper Strensham, Worcester. In the aftermath of Storm Bella swathes of the UK are braced for a cold snap, with snow and ice warnings in force across the country. 
CREDIT: DAVID DAVIES/PA WIRE

Deep in the Alaskan wilderness, an ice climber rests in a hammock set up in the walls of an ice cave. The explorer David Crane (32) from Salt Lake City, Utah, USA says he is witnessing
CREDIT: MEDIADRUMIMAGES/DAVID CRANE

Squirrels look like they’re about to hit the slopes and go skiing. The rodents were photographed standing on tiny skis and holding onto poles in a snowy back garden. Photographer Geert Weggen managed to capture the charming images after smearing nutpaste on the poles and hanging food above the skis to tempt the squirrels. It took him weeks of waiting to get the right pictures outside his house in the Swedish village of Bisgarden.
CREDIT: GEERT WGGEN/SOLENT NEWS&PHOTO AGENCY
Market Closes for December 29^th, 2020 

Market Index	Close	Change
Dow Jones	30335.67	-68.30
		-0.22%
S&P 500	3727.04	-8.32
		-0.22%
NASDAQ	12850.223	-49.200 -0.38%
TSX	17543.43	-80.45
		-0.46%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27568.15	+714.12
		+2.66%
HANG SENG	26568.49	+253.86
		+0.96%
SENSEX	47613.08	+259.33
		+0.55%
FTSE 100*	6602.65	+100.54 +1.55%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.711	0.721
CND. 30 Year Bond	1.254	1.267
U.S.    10 Year Bond	0.9347	0.9214
U.S. 30 Year Bond	1.6750	1.6562

Currencies

BOC Close	Today	Previous
Canadian $	0.78021	0.78015
US $	1.28171	1.28181
Euro Rate 1 Euro=		Inverse
Canadian $	1.57087	0.63659
US $	1.22561	0.81592

Commodities

Gold	Close	Previous
London Gold Fix	1875.00	1875.00
Oil
WTI Crude Future	48.00	47.82

Market Commentary:
On this day in 1800, Charles Goodyear was born in New Haven, Conn., the son of a hardware dealer.  He later developed the vulcanizing process for rubber, in which sulfur and nitric acid are added, making rubber tough enough to be used even in automobile tires. But Goodyear wasn’t unable to protect his patents and died a pauper in 1860.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell Tuesday after rising for the previous three sessions.
The S&P/TSX Composite Index fell 0.5%, with seven sectors lower. Utilities were a haven while tech lagged.
Oil eked out a gain as prospects for bigger U.S. aid checks dissipated, tamping expectations for a near-term recovery and battering equities markets.
Meanwhile, Canadians are the most confident in more than three years that real estate prices will continue to rise, according to weekly telephone polling, a positive signal for the recovery.
Commodities
* Western Canadian Select crude oil traded at a $15.50 discount to West Texas Intermediate
* Spot gold rose 0.3% to $1,879 an ounce
FX/Bonds
* The Canadian dollar rose 0.3% to C$1.2816 per U.S. dollar
* The 10-year Canada government bond yield fell 1.4 basis points to 0.707%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite is falling 0.5 percent at 17,533.39 in Toronto.
Shopify Inc. contributed the most to the index decline, decreasing 5.7 percent. Aurora Cannabis Inc. had the largest drop, falling 7.4 percent.
In midday trading, 134 of 222 shares fell, while 86 rose; 7 of 11 sectors were lower, led by information technology stocks.
Insights
* This month, the index rose 2 percent
* This quarter, the index rose 8.8 percent
* This year, the index rose 2.8 percent, poised for the best year since 2019
* The index advanced 2.1 percent in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 2.4 percent below its 52-week high on Feb. 20, 2020 and 56.9 percent above its low on March 23, 2020
* The S&P/TSX Composite is unchanged in the past 5 days and rose 1.3 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 23.7 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$2.72t
* 30-day price volatility fell to 8.21 percent compared with 8.64 percent in the previous session and the average of 11.62 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | -76.2405| -4.0| 1/9
Materials | -15.3910| -0.6| 13/39
Energy | -12.3989| -0.6| 5/18
Health Care | -8.9588| -4.4| 1/8
Consumer Discretionary | -1.2527| -0.2| 3/10
Communication Services | -1.0887| -0.1| 2/4
Real Estate | -0.8236| -0.2| 11/14
Consumer Staples | 1.0701| 0.2| 6/5
Industrials | 2.6358| 0.1| 12/17
Utilities | 6.6157| 0.7| 14/2
Financials | 15.3131| 0.3| 18/8
US
By Vildana Hajric
(Bloomberg) — U.S. stocks pulled back from record highs, with small-cap shares posting their biggest drop in a month, as prospects faded for bigger government aid checks to individuals.
The dollar weakened. The Russell 2000 Index tumbled almost 2%, while the S&P 500 finished only slightly lower. A gauge of global equities was set to close at a record after the U.S. House backed President Donald Trump’s proposal to boost aid checks for individuals, but pulled back from its high of the day as Senate Republicans blocked an attempt by Democrats to increase the direct payments to $2,000 from $600.
The year is coming to a close with risk assets such as stocks, corporate bonds and Bitcoin just off record highs. As investors try to gauge the impact of the pandemic and the pace of U.S. vaccine distribution, the S&P 500 is set to end the year 15% higher.
On the coronavirus front, more restrictions are being imposed to fight the spread of the new, more infectious strain. Covid-19 hospitalizations in the U.S. reached new highs, while Southern California plans to extend a regional stay-at-home order. South Korea’s daily toll of fatalities rose to a record, while Thailand reported its first virus death since November.
In Europe, the Stoxx 600 rose as the FTSE 100 Index rallied in the first session since the U.K.’s Christmas Eve trade deal with the European Union. Uncertainty about what accord will be struck on financial services weighed on Lloyds Banking Group Plc, NatWest Group Plc and Barclays Plc.
Elsewhere, the pound recouped some of Monday’s decline.
Here are some key events coming up:
* U.S. pending home sales and goods trade balance data are due Wednesday.
* U.S. initial jobless claims figures are published Thursday.
* Most global stock markets are closed Friday for New Year’s Day.

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 0.8%.
* The MSCI Asia Pacific Index jumped 1.4%.
* The MSCI Emerging Market Index increased 1.1%.
Currencies
* The Bloomberg Dollar Spot Index sank 0.4%.
* The euro increased 0.3% to $1.2249.
* The British pound gained 0.4% to $1.3499.
* The Japanese yen strengthened 0.3% to 103.53 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 0.93%.
* Germany’s 10-year yield dipped less than one basis point to -0.58%.
* Britain’s 10-year yield fell four basis points to 0.21%.
Commodities
* West Texas Intermediate crude gained 0.8% to $47.99 a barrel.
* Gold strengthened 0.3% to $1,879.61 an ounce.
–With assistance from Nancy Moran, Andreea Papuc, Cecile Gutscher and Sid Verma.
Have a nice evening.

Be magnificent!
As ever,

Carolann

It is one life whether we spend it in laughing or weeping.
                                                  -Japanese 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: Happy Christmas.

Christmas Day was fixed by the Church in 440 AD to be December 25^th.  It was the day of the winter solstice, which had anciently been a time of festival among heathen peoples.  In Anglo Saxon England, the year began on December 25^th but from the late twelfth century until the adoption of the Gregorian calendar in 1752, the year began on Lady Day, March 25^th.  Christmas Day has the advantage of being exactly nine months after Lady Day, the traditional length of  a human pregnancy. –from Brewster’s

Stay happy | How to look after your mental health at Christmas time. -The Telegraph.

Recently, clients of mine, a husband and wife,  brought me some vegetables that they grew in their garden.  One of the vegetables was a squash.  I deliberated what to do with it and then I found this recipe for curried winter squash and cauliflower soup in one of my cookbooks.  It turned out to be fantastic and Gary and I had three meals from this recipe for soup made with a single squash.

CURRIED WINTER SQUAH AND CAULIFLOWER SOUP
The literati who gathered at the Algonquin Hotel in the 1930s were never so involved in haute culture that they forgot about haute cuisine.  One of their favorites was a curried concoction called Algonquin Special Soup.  So popular was this dish with Gertrude Stein that she requested the recipe from the Algonquin’s chef, who provided it, as Alice B. Toklas puts it, “through the kindness of the so amiable maître d’hôtel Georges.  Our version of that curried soup is also lovable and warming, especially on a cold December night in front of the fireplace.

2 tablespoons vegetable oil                                                      3 cups butternut squash, peeled and diced
1 onion, chopped
1 stalk celery, chopped                                                            1 head cauliflower, trimmed and cut into florets
1 pear or apple, peeled, cored, and chopped                              1 small potato, peeled and diced
1 teaspoon curry powder, or to taste                                         Salt and pepper
½ teaspoon ground coriander                                                  ½ cup fresh cilantro leaves
6 cups Chicken Stock or Vegetable Stock                                   ½ cup sour cream

In a large heavy saucepan, heat oil over medium-high heat.  Cook onion, celery, and pear about 4 minutes.  Stir in curry powder and coriander and cook another minute.  Add stock and bring to boil.  Add squash, cauliflower, and potato and simmer 20 minutes.  Purée in a blender or food processor and taste for salt and pepper.  Purée the cilantro leaves with sour cream.  Ladle soup into individual bowls.  Swirl some cilantro cream into each serving.
P.S. This is the actual recipe; I used pear and it was wonderful.  I found the soup needed a lot more curry than the recipe calls for and I added a couple of additional Indian spices as well.

“The clock is no longer ticking.”
—EU chief negotiator Michel Barnier
PHOTOS  OF THE DAY

Prime Minister Boris Johnson is pictured after calling President of European Commission, Ursula von der Leyen.
CREDIT: PIPPA FOWLES/NO10 DOWNING STREET

A British man offers a bottle of whisky to a customs officer from Le Havre to celebrate after Great Britain become a member of the European Economic Community (EEC) on January 1, 1973
CREDIT: JEAN-PIERRE PREVEL/AFP VIA GETTY IMAGES

A woman holds up Euro notes that she withdrew from an ATM machine moments after midnight January 1, 2002 in Maastricht, The Netherlands.
CREDIT: TELEGRAPH, DECEMBER 24, 2020
Market Closes for December 24^th, 2020 

Market Index	Close	Change
Dow Jones	30199.87	+70.04
		+0.33%
S&P 500	3703.06	+13.05
		+0.35%
NASDAQ	12804.734	+33.620 +0.26%
TSX	17623.88	+30.31
		+0.17%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26668.35	+143.56
		+0.54%
HANG SENG	26386.56	+43.46
		+0.17%
SENSEX	46973.54	+529.36
		+1.14%
FTSE 100*	6502.11	+6.36 +0.10%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.721	0.728
CND. 30 Year Bond	1.267	1.277
U.S.    10 Year Bond	0.9214	0.9430
U.S. 30 Year Bond	1.6562	1.6810

Currencies

BOC Close	Today	Previous
Canadian $	0.78015	0.77833
US $	1.28181	1.28480
Euro Rate 1 Euro=		Inverse
Canadian $	1.56184	0.63866
US $	1.21846	0.82071

Commodities

Gold	Close	Previous
London Gold Fix	1875.00	1877.10
Oil
WTI Crude Future	47.82	47.97

Market Commentary:
On this day in 1963, total trading volume for the year-to-date exceeded 1.124 billion shares on the New York Stock Exchange—finally surpassing the annual record set in 1929.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets climbed for second straight day after health care stocks gained.
The S&P/TSX Composite index rose 0.2% in Toronto. Pot stocks led the outperformance in the health care sector.
Meanwhile, tech stocks slumped, led by Shopify. Magna International rose 9% after LG Electronics said it plans to spin off some its electric-car components business into a new joint venture with the Canadian group.
Commodities
* Western Canadian Select crude oil traded at a $14.75 discount to West Texas Intermediate
* Spot gold rose 0.6% to $1,872.12 an ounce
FX/Bonds
* The Canadian dollar rose 0.4%. It was at C$1.2852 per U.S. dollar as of 4pm New York time.
* The 10-year Canada government bond yields rose 3 basis points to 0.729%.

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite is rising for the third day, climbing 0.2 percent, or 36.43 to 17,630.00 in Toronto.
Shopify Inc. contributed the most to the index gain, increasing 1.7 percent. TransAlta Renewables Inc. had the largest increase, rising 6.5 percent.
In midday trading, 126 of 222 shares rose, while 92 fell; 8 of 11 sectors were higher, led by information technology stocks.
Insights
* So far this week, the index rose 0.5 percent
* This quarter, the index rose 9.3 percent
* This month, the index rose 2.5 percent
* This year, the index rose 3.3 percent, poised for the best year since 2019
* The index advanced 2.6 percent in the past 52 weeks. The MSCI  AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 1.9 percent below its 52-week high on Feb. 20, 2020 and 57.8 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.1 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 23.8 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$2.71t
* 30-day price volatility fell to 8.64 percent compared with 8.71 percent in the previous session and the average of 12.40 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 22.2698| 1.2| 6/3
Utilities | 5.9421| 0.7| 13/3
Financials | 5.8369| 0.1| 15/11
Industrials | 3.5807| 0.2| 15/14
Consumer Staples | 2.9512| 0.4| 8/3
Real Estate | 2.1166| 0.4| 20/5
Communication Services | 2.1116| 0.2| 6/0
Materials | 0.6033| 0.0| 31/21
Health Care | -3.6103| -1.7| 4/5
Consumer Discretionary | -5.2190| -0.8| 6/7
Energy | -6.7907| -0.3| 2/20
US
By Yakob Peterseil
(Bloomberg) — U.S. stocks rose for a second day in holiday-shortened trading as investors monitored the latest developments on the Congressional aid package, while the pound strengthened after a post-Brexit trade accord agreement was reached.
The S&P 500 edged higher, with technology and real estate shares gaining, while financials and energy stocks led declines.
A scuffle over pandemic relief is set to run up against a federal funding deadline next week as Democrats side with President Donald Trump in his demand for $2,000 payments to most Americans. The dollar weakened and Treasury yields were little changed.
The pound strengthened and the Stoxx 600 Index gained after the U.K. clinched a historic trade deal with the European Union, averting the threat of an acrimonious breakup and laying the foundations for a new relationship with its biggest and nearest commercial partner. Alibaba Group Holding’s U.S.-listed shares tumbled the most ever in intraday trading on concern over China’s inquiry into alleged monopolistic practices at the e-commerce company. Volumes were subdued in many countries on Thursday. Most financial markets will be closed Friday for Christmas Day.
“Right now we have a lot of animal spirits surging into year end,” Michael Purves, founder and CEO at Tallbacken Capital Advisors, said on Bloomberg TV. “As constructive as I am on markets in the broader term, I do expect there will be a hangover of sorts to process this over-extension some time later this winter.”

These are the main moves in markets:
Stocks
*The S&P 500 Index rose 0.2% as of 12:46 p.m. New York time.
*The Dow Jones Industrial Average increased 0.2% to 30,129.83.
*The Nasdaq Composite Index rose 0.2% to 12,771.11.
*The Stoxx Europe 600 Index climbed 0.1% to 395.98, the highest in a week.
Currencies
*The Bloomberg Dollar Spot Index declined 0.1% to 1,125.77.
*The euro was little changed at $1.2185.
*The British pound rose 0.4% to $1.3551, the strongest in a week.
*The Japanese yen depreciated 0.1% to 103.64 per dollar, the weakest in more than a week.
Bonds
*The yield on 10-year Treasuries decreased one basis point to 0.93%.
*Germany’s 10-year yield rose five basis points to -0.55%, reaching the highest in more than three weeks on the first advance in a week and the biggest rise in more than six weeks.
*Britain’s 10-year yield dipped three basis points to 0.257%.
Commodities
*West Texas Intermediate crude decreased 0.3% to $47.97 a barrel.
*Gold strengthened 0.3% to $1,878.80 an ounce.
–With assistance from Vassilis Karamanis and Adam Haigh.

Have a wonderful holiday season everyone.

Be magnificent!
As ever,

Carolann

First they ignore you, then they ridicule you, then they fight you, then you win.
                                                                  -Mahatma Gandhi, 1869-1948

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:  Night of the radishes, Mexico.

Yousuf Karsh, photographer, b. 1908.
Akihito, Japanese emperor, b. 1933.

On Dec. 23, 1986, the experimental airplane Voyager, piloted by Dick Rutan and Jeana Yeager, completed the first non-stop, around-the-world flight without refueling as it landed safely at Edwards Air Force Base in California. Go to article »

Did you miss Jupiter and Saturn’s great conjunction? 
We’ve got you: Check out these stunning images of the “Christmas Star.” You’ll also be able to see it again in the sky tonight. 

Looking to fall in love with Mozart, opera or the piano? Five minutes of listening is all it will take, and this list is a great place to start.

Da Vinci drawings have their own microbiomes.
PHOTOS OF THE DAY

Trees covered with hoar-frost on Galyateto Mountain, Hungary
CREDIT: PETER KOMKA/MTI VIA AP

A Lebanese man dressed with a Santa Claus outfit rides on a standup paddle in Lebanon’s northern coastal city of Batroun 
CREDIT: IBRAHIM CHALHOUB/AFP VIA GETTY IMAGES

Tel Aviv, Israel: A group of professional volleyball players at the beach play volleyball on a sunny day, wearing Santa Claus costumes, three days prior to Christmas.
CREDIT: ZIV KOREN/POLARIS

Christmas illuminations and decorations are on display at a roadside in Colombo, Sri Lanka
CREDIT: CHAMILA KARUNARATHNE/EPA-EFE/SHUTTERSTOCK

Incredible images capture the northern lights (aurora borealis) seen from the United Kingdom. The stunning colours were seen from Cullivoe, Yell, Shetland Islands, Scotland.
CREDIT: RYAN NISBET/TRIANGLE NEWS
Market Closes for December 23^rd, 2020 

Market Index	Close	Change
Dow Jones	30129.83	+114.32
		+0.38%
S&P 500	3690.01	+2.75
		+0.07%
NASDAQ	12771.113	-36.80 -0.29%
TSX	17593.57	+41.11
		+0.23%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26524.79	+88.40
		+1.37%
HANG SENG	26343.10	+223.85
		+0.86%
SENSEX	46444.18	+437.49
		+0.95%
FTSE 100*	6495.75	+42.59 +0.66%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.728	0.703
CND. 30 Year Bond	1.277	1.253
U.S.    10 Year Bond	0.9430	0.9164
U.S. 30 Year Bond	1.6810	1.6482

Currencies

BOC Close	Today	Previous
Canadian $	0.77833	0.77472
US $	1.28480	1.29079
Euro Rate 1 Euro=		Inverse
Canadian $	1.56577	0.63866
US $	0.82055	0.82055

Commodities

Gold	Close	Previous
London Gold Fix	1877.10	1880.00
Oil
WTI Crude Future	47.97	46.90

Market Commentary:
On this day in 1913, President Woodrow Wilson signed into law the Federal Reserve Act, authorizing the creation of the Federal Reserve System to monitor the nation’s banks and modulate the money supply.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets climbed for second straight day after health care stocks gained.
The S&P/TSX Composite index rose 0.2% in Toronto. Pot stocks led the outperformance in the health care sector.
Meanwhile, tech stocks slumped, led by Shopify.
Magna International rose 9% after LG Electronics said it plans to spin off some its electric-car components business into a new joint venture with the Canadian group.
Commodities
* Western Canadian Select crude oil traded at a $14.75 discount to West Texas Intermediate
* Spot gold rose 0.6% to $1,872.12 an ounce
FX/Bonds
* The Canadian dollar rose 0.4%. It was at C$1.2852 per U.S. dollar as of 4pm New York time.
* The 10-year Canada government bond yields rose 3 basis points to 0.729%.

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.2 percent, or 41.11 to 17,593.57 in Toronto.
Today, financials stocks led the market higher, as 7 of 11 sectors gained; 151 of 222 shares rose, while 65 fell. Magna International Inc. contributed the most to the index gain, increasing 8.5 percent. MEG Energy Corp. had the largest increase, rising 9.4 percent.
Insights
* This month, the index rose 2.3 percent
* This quarter, the index rose 9.1 percent
* This year, the index rose 3.1 percent, poised for the best year since 2019
* The index advanced 2.7 percent in the past 52 weeks. The MSCI AC Americas Index gained 16 percent in the same period
* The S&P/TSX Composite is 2.1 percent below its 52-week high on Feb. 20, 2020 and 57.5 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed 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 23.6 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$2.7t
* 30-day price volatility fell to 8.71 percent compared with 9.61 percent in the previous session and the average of 12.68 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 50.9218| 1.0| 21/5
Energy | 35.4633| 1.8| 22/1
Materials | 33.9235| 1.4| 46/5
Consumer Discretionary| 14.0630| 2.1| 6/7
Utilities | 4.9412| 0.6| 13/3
Health Care | 4.2862| 2.1| 8/1
Communication Services| 3.5129| 0.4| 4/2
Real Estate | -0.5140| -0.1| 11/13
Industrials | -0.5572| 0.0| 14/13
Consumer Staples | -3.1978| -0.5| 5/6
Information Technology| -101.7245| -5.1| 1/9
US
By Kamaron Leach
(Bloomberg) — U.S. stocks rose for the first time in four days even as uncertainly surrounded President Donald Trump’s demand for changes to pandemic relief legislation. The pound gained as an outline of the post-Brexit trade deal was reached.
The benchmark S&P 500 managed to finish marginally higher despite a late session slide amid a flurry of headlines on the status of the aid package. The Nasdaq Composite and Russell 2000 indexes set intraday record highs. Trump is demanding that lawmakers increase the stimulus checks due to go out to most Americans to $2,000 from $600 in the same week that Congress passed the $900 billion bipartisan package. “By and large the market has continually seemed to focus on the more positive bull cases around each macro event,” said Chris Larkin, managing director of E*Trade Financial’s trading and investing product. “We’re seeing the market choosing to see the cup half full, as it shrugs off the possibility of the stimulus bill failing, and instead viewing it as a catalyst for larger stimulus cash in the pockets of consumers.” Read more: Wall Street Shrugs Off Worry About Trump’s Stimulus Critiques
The dollar stayed lower after initial jobless claims came in better than expected. Personal income for November fell by 1.1%. Treasury yields rose. European stocks rose as trade and transport links between the U.K. and its neighbors reopened and Brexit negotiators put
the finishing touches to an accord, said officials, who spoke on condition of anonymity. Travel firms and automakers led gains, with Daimler AG rising on a report the German carmaker is considering an initial public offering of its truck unit. Investors were are looking past the president’s comments to the promise of pandemic relief that will come sooner or later. House Speaker Nancy Pelosi seized on Trump’s call for larger individual checks and said the House would try to pass this
additional measure during a pro forma session on Thursday. “He’s historically, as I believe, negotiating as he always does,” said Todd Morgan, Chairman and founding member of Bel Air Investment Advisers. “You have to look beyond the next few weeks with this president because I think good things are going to come straight ahead.”
Elsewhere, crude oil reversed an earlier decline. Gold snapped a three-day slide.
     Here are some key events coming up:
* U.S. bond and stock trading and markets in other parts of the world will shut early on Thursday for the Christmas holidays. Most global markets are shut Friday.

Here are the main moves in markets:
Stocks
* The S&P 500 Index increased 0.1% to 3,690.01 as of 4:07 p.m. New York time.
* The Dow Jones Industrial Average advanced 0.4% to 30,129.83.
* The Nasdaq Composite Index declined 0.3% to 12,771.11, the largest decrease in two weeks.
* The Stoxx Europe 600 Index jumped 1.1% to 395.49.
* The MSCI All-Country World Index climbed 0.4% to 636.07.
Currencies
* The Bloomberg Dollar Spot Index fell 0.4% to 1,127.31, the biggest fall in more than a week.
* The euro gained 0.2% to $1.2191.
* The British pound surged 1% to $1.3498, the biggest jump in almost seven weeks.
* The Japanese yen strengthened 0.1% to 103.53 per dollar.
Bonds
* The yield on 10-year Treasuries increased three basis points to 0.94%, the biggest increase in almost three weeks.
* Germany’s 10-year yield climbed five basis points to -0.55%, hitting the highest in three weeks with the first advance in a week and the largest surge in more than six weeks.
* Britain’s 10-year yield jumped 10 basis points to 0.286%, the biggest surge in about nine months.
Commodities
* West Texas Intermediate crude gained 2.2% to $48.04 a barrel, the largest rise in almost two weeks.
* Gold strengthened 0.6% to $1,872.33 an ounce.
–With assistance from Cecile Gutscher.
Have a great night.

Be magnificent!
As ever,

Carolann

In the end these things matter most: How well did you love? 
How fully did you live?  How deeply did you let go?
                -Siddhārtha Gautama, c. 5^th century BC.

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