Category: Events

Dear Friends,

Tangents:
Giacomo Puccini, composer, b. 1858.
Diane Sawyer, journalist, b. 1946
Ralph Fiennes, actor, b. 1962

Lech Walesa sworn in as Poland’s 1^st popularly elected president , 1990.

American soldiers of the 117th Infantry Regiment, Tennessee National Guard, part of the 30th Infantry Division, move past a destroyed American M5A1 “Stuart” tank on their march to recapture the town of St. Vith during the Battle of the Bulge, January 1945.
1944 During the Battle of the Bulge, Germany demanded the surrender of American troops at Bastogne, Belgium; Brigadier Gen. Anthony C. McAuliffe reportedly replied: “Nuts!” Go to article >>

From “Wind of Change” to “My Year in Mensa,” this list has the year’s best podcasts.

Loneliness can help grow parts of brain tied to imagination, study finds. –CNN.

With the help of Celine Dion music, comfort food like a savory tourtière and a virtual tour of a local gallery, you can pretend you’re in Quebec City.

Snowflakes are cool. (h/t Ellen Kominers)

Did Charles Dickens steal his ghost from the Romans?
A ghost in clanking chains is an image indelibly linked with A Christmas Carol. Now a historian claims Charles Dickens lifted the description of Jacob Marley’s ghost from classical writings produced 1,700 years earlier. Daisy Dunn explains how she was struck by the similarity between Dickens’ description of the ghost, and a passage by Pliny the Younger
PHOTOS OF THE DAY

Senior druid King Arthur Pendragon performs the ceremony on the Winter Solstice at the closed Stonehenge 
CREIDT: FINNBARR WEBSTER/GETTY IMAGES

People ice skate around the Christmas tree in Kyiv, Ukraine
CREDIT: EFREM LUKATSKY/AP

Tiger Woods of the United States and son Charlie Woods fist bump on the 18th hole during the final round of the PNC Championship at the Ritz Carlton Golf Club
CREDIT: MIKE EHRMANN/GETTY IMAGES
Market Closes for December 22^nd, 2020 

Market Index	Close	Change
Dow Jones	30015.51	-200.94
		-0.67%
S&P 500	3687.26	-7.66
		-0.21%
NASDAQ	12807.918	+65.401 +0.51%
TSX	17552.46	+51.57
		+0.29%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26436.39	-278.03
		-1.04%
HANG SENG	26119.25	-187.43
		-0.71%
SENSEX	46006.69	+452.73
		+0.99%
FTSE 100*	6453.16	+36.84 +0.57%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.703	0.726
CND. 30 Year Bond	1.253	1.281
U.S.    10 Year Bond	0.9164	0.9364
U.S. 30 Year Bond	1.6482	1.6729

Currencies

BOC Close	Today	Previous
Canadian $	0.77472	0.77773
US $	1.29079	1.28579
Euro Rate 1 Euro=		Inverse
Canadian $	1.56991	0.63698
US $	1.21624	0.82220

Commodities

Gold	Close	Previous
London Gold Fix	1880.00	1879.75
Oil
WTI Crude Future	46.90	47.74

Market Commentary:
On this day in 1973, the oil ministers of OPEC’s six Persian Gulf member states said they would unilaterally raise the price of crude oil to $7 a barrel, and that prices would rise to $11.65 on Jan. 1, 1974. In two-and-a-half months, OPEC has raised the price of oil by 128%.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets rebounded on Tuesday as tech stocks outperformed, led by Shopify.
The S&P/TSX Composite index rose 0.3% in Toronto after falling the last two sessions. The e-commerce company Shopify climbed 6.7%, gaining for a second day to hit a record.
Furthermore, another tech stock Lightspeed POS, climbed 11%, after getting a new outperform rating at Credit Suisse on its growth view. Energy and materials, on the other hand, were the two worst performing sectors as metals and oil prices fell.
Meanwhile, to Mark Machin — the CEO of one of the world’s largest pension funds, Canada Pension Plan Investment Board –  the exuberance in public markets is a signal to extend his fund’s already-huge bet on private assets. Machin sees a wave of cash chasing infrastructure and hard assets in 2021 and beyond, amid stretched valuations for stocks and bonds.
Commodities
* Western Canadian Select crude oil traded at a $14.47 discount to West Texas Intermediate
* Spot gold fell 0.8% to $1,861.16 an ounce
FX/Bonds
* The Canadian dollar fell 0.4%. It was at C$1.2908 per U.S. dollar as of 4:14pm New York time.
* The 10-year Canada government bond yields fell 3 basis points to 0.700%.
By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose 0.3 percent at 17,552.46 in Toronto. The move follows the previous session’s decrease of 0.2 percent.
Today, information technology stocks led the market higher, as 5 of 11 sectors gained; 86 of 222 shares rose, while 134 fell. Shopify Inc. contributed the most to the index gain, increasing 7.3 percent. Lightspeed POS Inc. had the largest increase, rising 11.5 percent.
Insights
* This month, the index rose 2.1 percent
* This quarter, the index rose 8.9 percent
* This year, the index rose 2.9 percent, poised for the best year since 2019
* The index advanced 2.5 percent in the past 52 weeks. The MSCI AC Americas Index gained 16 percent in the same period
* The S&P/TSX Composite is 2.3 percent below its 52-week high on Feb. 20, 2020 and 57.1 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 3.1 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 23.6 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 9.61 percent compared with 9.89 percent in the previous session and the average of 12.87 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 108.0621| 5.7| 9/1
Industrials | 15.6971| 0.7| 19/9
Utilities | 6.2288| 0.7| 11/4
Consumer Discretionary | 5.4998| 0.8| 6/7
Real Estate | 3.6757| 0.7| 17/9
Health Care | -0.7789| -0.4| 4/5
Communication Services | -1.2119| -0.1| 2/5
Consumer Staples | -1.8540| -0.3| 6/5
Financials | -7.9863| -0.2| 9/17
Energy | -24.6726| -1.2| 0/23
Materials | -51.0725| -2.1| 3/49
US
By Kamaron Leach and Cecile Gutscher
(Bloomberg) — U.S. stocks fell for a third day as optimism over a Covid-19 relief bill was tempered by the emergence of a new variant of the virus and a slew of lockdowns and travel curbs to contain it. The dollar advanced and Treasuries gained.
The benchmark S&P 500 fluctuated between gains and losses before closing lower, with consumer services and energy the biggest sector decliners. The Nasdaq Composite and Russell 2000 set record highs in what is a holiday shortened week. U.S. lawmakers cleared a $2.3 trillion year-end spending bill and stimulus package. President-elect Joe Biden warned the “darkest days” of the pandemic were still to come and called on Congress to be ready early next year to produce another stimulus package.
“Sometimes you get exaggerated moves in stocks due to lack of liquidity,” said Jonathan Boyar, managing director at BoyarValue Group. Amgen Inc. was among the biggest losers in the Dow Jones Industrial Average, falling after a study showed an experimental drug failed to cut asthma patients’ dependence on steroids. Apple Inc. paced the gain in the Nasdaq after a report said the company is planning to make a battery-powered self-driving car as soon as 2024. Tesla Inc. fell for a second day.
In Europe, stocks rebounded from their steepest slump in almost two months Monday, with all industry groups in the green. British Airways owner IAG SA surged more than 5% as travel shares bounced back. Crude oil edged lower for a second day.
The global stock rally is looking increasingly fragile after equities touched a record high last week, as lockdowns and rising virus cases threaten to overshadow U.S. pandemic relief and the initial rollout of vaccines. The bill passed by Congress on Monday represents the second-biggest economic rescue package in American history.
“The agreed fiscal relief package will undoubtedly help mitigate some of the negatives but unfortunately, it won’t be able to fully offset the effects of people staying at home as many businesses face tighter restrictions or are even forced to close,” according to James Knightley, chief international economist at ING Groep.
In the U.K., where the virus variant has taken hold, a full lockdown came into force in London and southeast England. Europe and regions from Canada to Hong Kong have suspended travel links to the island nation, piling pressure onto the government as it tries to salvage a free-trade agreement with the European Union. The bloc rebuffed Prime Minister Boris Johnson’s latest concessions on fishing rights, keeping the pound lower.

Here are some key events coming up:
* EIA crude oil inventory report is due Wednesday.
* U.S. jobless claims, durables, personal income data comes Wednesday.
* 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.

These are the main moves in markets:
Stocks
*The S&P 500 Index decreased 0.2% to 3,687.27 as of 4:02 p.m. New York time, the lowest in more than a week.
*The Dow Jones Industrial Average sank 0.7% to 30,015.51, the lowest in more than a week on the biggest dip in more than three weeks.
*The Nasdaq Composite Index increased 0.5% to 12,807.92, the highest on record.
*The Stoxx Europe 600 Index surged 1.2% to 391.25, the biggest jump in five weeks.
Currencies
*The Bloomberg Dollar Spot Index jumped 0.6% to 1,132.18, the highest in more than a week on the largest climb in almost eight weeks.
*The euro sank 0.7% to $1.2162, the weakest in a week on the biggest dip in more than four months.
*The British pound fell 0.7% to $1.3368, the weakest in more than a week on the largest drop in more than a week.
*The Japanese yen depreciated 0.3% to 103.66 per dollar, the weakest in a week on the biggest dip in more than two weeks.
Bonds
*The yield on 10-year Treasuries declined two basis points to 0.92%, the largest drop in more than a week.
*Germany’s 10-year yield declined two basis points to -0.60%, the lowest in a week on the biggest fall in more than a week.
* Britain’s 10-year yield declined two basis points to 0.183%, the lowest in more than a week.
Commodities
*West Texas Intermediate crude dipped 2.1% to $46.94 a barrel, the lowest in more than a week.
*Gold depreciated 0.9% to $1,860.77 an ounce, the weakest in a week on the largest dip in almost two weeks.
Have a great night.

Be magnificent!
As ever,

Carolann

When I despair, I remember that all through history the way of truth and love  has always won. 
There have been tyrants and murderers and for a time they seem invincible, but in the end,
they always fall – think of it, always.
                                                  -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: Happy First Day of Winter!

Look for the convergence of the planets Jupiter and Saturn tonight – known as the Christmas star because they will appear as one bight star in the night sky.  This is the brightest they will be in 800 years.
The winter solstice, a meteor shower and the alignment of our solar system’s two biggest planets all converge at once in a convenient holiday package.
Jupiter and Saturn will look as if they are practically touching, in their closest visible proximity since the year 1226. A bit later in the evening, you might see some fireballs from the Ursid meteor shower, which peaks tonight.
But for many of us, the night’s best gift is that daylight hours will now start to lengthen in the Northern Hemisphere, until the summer solstice in June. J

1620: Pilgrims land at Plymouth, Mass.

On Dec. 21, 1988, a terrorist bomb exploded aboard a Pan Am Boeing 747 over Lockerbie, Scotland, killing 270 people. Go to article »

Looking for a new hobby? Knitting is relatively inexpensive and has great mental health benefits.

PICTURES OF THE DAY

The annual Santa Run takes place with socially distanced households running together at staggered intervals, rather than the usual mass start, North Berwick, East Lothian, Scotland.
CREDIT: SALLY ANDERSON/EDINBURGHELITEMEDIA.CO.UK

Norway’s Halvor Egner Granerud competes in the men’s FIS Ski Jumping World Cup competition in Engelberg, central Switzerland.
CREDIT: FABRICE COFFRINI/AFP VIA GETTY IMAGES

A Christmas decoration is illuminated in Szekesfehervar, Hungary.
CREDIT: TAMAS VASVARI/EPA-EFE/SHUTTERSTOCK

Market Closes for December 21^st, 2020 

Market Index	Close	Change
Dow Jones	30216.45	+37.40
		+0.12%
S&P 500	3694.92	-14.49
		-0.39%
NASDAQ	12742.516	-13.122 -0.10%
TSX	17500.89	-33.74
		-0.19%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26714.42	-48.97
		-0.18%
HANG SENG	26306.68	-191.92
		-0.72%
SENSEX	45553.96	-1406.73
		-3.00%
FTSE 100*	6416.32	-112.86 -1.73%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.726	0.749
CND. 30 Year Bond	1.281	1.301
U.S.    10 Year Bond	0.9364	0.9446
U.S. 30 Year Bond	1.6729	1.6891

Currencies

BOC Close	Today	Previous
Canadian $	0.77773	0.78218
US $	1.28579	1.27848
Euro Rate 1 Euro=		Inverse
Canadian $	1.57360	0.63548
US $	1.22384	0.81710

Commodities

Gold	Close	Previous
London Gold Fix	1879.75	1890.75
Oil
WTI Crude Future	47.74	49.10

Market Commentary:
On this day in 1998, the Standard & Poor’s 500-stock index closed above 1200 for the first time, finishing the day at 1202.84. 

Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks fell along with global equities as a new variant of the coronavirus in the U.K. raised investor worry of further lockdowns and travel restrictions. The S&P/TSX Composite index shed 0.2%, paring back earlier losses of as much as 1.3%. Tech and materials were the only two sectors in the green on Monday. Energy stocks were the worst performers as crude oil prices slumped the most in six weeks. Meanwhile, Oxford Properties Group Inc. is proposing to turn an area of midtown Toronto that’s mostly parking lots into a mix of apartments, offices and retail space, a major bet that demand for dense urban living will rebound after the pandemic.
Commodities
* Western Canadian Select crude oil traded at a $14.50 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,876.31 an ounce
FX/Bonds
* The Canadian dollar fell 0.5%. It was at C$1.2854 per U.S. dollar as of 4:05pm New York time.
* The 10-year Canada government bond yields fell 3 basis points to 0.724%.

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.2 percent, or 33.74 to 17,500.89 in Toronto. TC Energy Corp. contributed the most to the index decline, decreasing 3.3 percent. Enerplus Corp. had the largest drop, falling 7.2 percent. Today, 143 of 222 shares fell, while 77 rose; 9 of 11 sectors were lower, led by energy stocks.
Insights
* This month, the index rose 1.8 percent
* This quarter, the index rose 8.6 percent
* This year, the index rose 2.6 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 16 percent in the same period
* The S&P/TSX Composite is 2.6 percent below its 52-week high on Feb. 20, 2020 and 56.6 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.7 percent in the past 5 days and rose 2.8 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.1 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$2.69t
* 30-day price volatility fell to 9.89 percent compared with 10.02 percent in the previous session and the average of 13.02 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | -42.1440| -2.1| 0/23
Financials | -13.1128| -0.3| 8/17
Industrials | -9.1258| -0.4| 8/21
Communication Services | -8.3224| -1.0| 0/7
Real Estate | -6.9270| -1.3| 2/24
Health Care | -3.4902| -1.7| 2/7
Consumer Discretionary | -3.0740| -0.5| 4/9
Consumer Staples | -1.2846| -0.2| 3/8
Utilities | -0.7781| -0.1| 5/11
Materials | 13.8825| 0.6| 39/12
Information Technology | 40.6299| 2.2| 6/4

US
By Vildana Hajric
(Bloomberg) — U.S. stocks slumped, joining a global decline as a new variant of the coronavirus in the U.K. and a wave of lockdowns and travel restrictions damped spirits. The S&P 500 Index dipped about 0.4%, dragged lower by losses for Tesla Inc., which fell more than 6% on its first day after being added to the U.S. benchmark. The Dow Jones Industrial Average eked out a gain as Goldman Sachs Group Inc. rallied after regulators approved a stock buyback. The yield on 10-year Treasuries retreated and the dollar climbed. The weakness in U.S. markets was minor compared to the rout seen in Europe, where the Stoxx 600 Index slumped the most since October as Italy, the Netherlands, Belgium and France closed their borders to the U.K. Travel and leisure stocks were hard hit.
Bulls did have some reason for optimism, including progress on a $900 billion U.S. economic aid package. Pfizer Inc. and BioNTech SE’s Covid-19 vaccine also won the backing of a key European review panel, and a first wave of inoculations continued in the U.S. Despite the positive developments, the emergence of the variant coronavirus strain in Britain put a damper on the return-to-work trade that’s lately taken hold. After global equities reached a record last week, traders pulled back to monitor the latest virus news. “Fiscal stimulus is clearly fading as a catalyst, with Covid trends dictating the direction of markets,” said Emily Roland, the co-chief investment strategist at John Hancock Investment Management. “Risk assets had been shrugging off worsening virus trends, but are now showing some signs of vulnerability.” The pound pared losses as U.K. Prime Minister Boris Johnson offered a fresh proposal to secure an 11th-hour trade deal with the European Union. Crude oil tumbled.

Here are some key events coming up:
* EIA crude oil inventory report is due Wednesday.
* U.S. jobless claims, durables, personal income data comes Wednesday.
* 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.

These are the main moves in markets:
Stocks
* The S&P 500 Index retreated 0.4% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index slumped 2.3%.
* The MSCI Asia Pacific Index declined 0.4%.
* The MSCI Emerging Market Index dropped 0.9%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.2%.
* The euro decreased 0.2% to $1.2235.
* The British pound decreased 0.5% to $1.3454.
* The Japanese yen fell less than 0.1% to 103.34 per dollar.
Bonds
* The yield on 10-year Treasuries decreased one basis point to 0.94%.
* Germany’s 10-year yield decreased one basis point to -0.58%.
* Britain’s 10-year yield decreased four basis points to 0.20%.
Commodities
* West Texas Intermediate crude sank 2.8% to $47.74 a barrel.
* Gold fell 0.2% to $1,877,.11 an ounce.
–With assistance from Adam Haigh, Anchalee Worrachate, Cecile Gutscher, Yakob Peterseil and Sophie Caronello.

Have a  great night.

Be magnificent!
As ever,

Carolann

Never ruin an apology with an excuse.
       -Benjamin Franklin, 1706-1790

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents: Happy Friday
Antonio Stradivari, violin maker, b. 1737
Paul Klee, painter, b. 1879
Steven Spielberg, film-maker, b. 1947
Brad Pitt, actor, b. 1964
Katie Holmes, actor, b. 1978

1917 the 18^th Amendment to the US Constitution, authorizing prohibition of alcohol, is approved by the US congress and sent to the states for ratification.
1987 Ivan F. Boesky was sentenced to three years in prison for plotting Wall Street’s biggest insider-trading scandal. Go to article »

Atlantic City is blowing up an abandoned Trump casino, and for the right price, you could be the one to push the button 
Truly a gift for the person who has everything.

The NFL plans to honor health care workers by inviting some who’ve been vaccinated to Super Bowl LV
They deserve it.

Good Spirits: How do you make Chartreuse? Only two people know the full recipe for the French liquor — and they’re not talking.
Stephen Colbert compared President Trump’s health adviser to a comic book villain.

WHAT TO LISTEN TO

Here are this year’s 10 best episodes of “The Daily,” according to the team that makes the podcast.
Finally, time to pop the bubbly, from The NY Times:

“It’s been a dismal year,” our wine critic Eric Asimov writes, “but let’s look at the bright side: It’s nearly over.” That means bubbles can still feel right to mark the occasion, so Eric picked 10 sparkling wines — from Champagne and elsewhere — well worth drinking at multiple price points.

Simply emblazoning “Champagne” on a label is no guarantee of quality. But if you’re committed to the region, Eric created this guide to finding the best Champagne for you, including 10 excellent big houses and 10 small grower-producers (and a glossary so you can sound like you know what you’re talking about).

PHOTOS OF THE DAY

Indonesian photographer Dikye Ariani showed a mother common tailorbird as it fed an insect to its young, near Jakarta, winning Dikye a first-place runners up prize in the Wildlife / Macro category of the LightsFlare International Photography Awards.
CREDIT: DIKYE ARIANI/LIGHTSFLARE INTERNATIONAL PHOTOGRAPHY AWARDS / INDONESIAN PHOTOGRAPHER DIKYE ARIANI SHOWED A MOTHER COMMON TAILORBIRD AS IT FED AN INSECT TO ITS YOUNG, NEAR JAKARTA, WINNING DIKYE A FIRST-PLACE RUNNERS UP PRIZE IN THE WILDLIFE /MACRO CATEGORY OF THE LIGHTSFLARE INTERNATIONAL PHOTOGRAPHY AWARDS.

A woman walks through the early morning mist in Sefton Park, Liverpool, UK.
CREDIT: PETER BYRNE/PA WIRE

Tom Lahaye-Goffart of Belgium competes during the men’s 10 km sprint race at the Biathlon World Cup in Hochfilzen, Austria.
CREDIT: AP PHOTO/MATTHIAS SCHRADER

Swimmers braving the cold morning air and choppy seas at the beach to take an early morning dip at West Bay in Dorset, UK, shortly after sunrise. 
CREDIT: THE DAILY TELEGRAPH NEWS UK

Christmas cakes are created as Santa Claus with face mask at the bakery Schuerener Backparadies in Dortmund, Germany. As the number of cases of the COVID-19 disease caused by the SARS-CoV-2 coronavirus is still rising throughout Germany, the government has imposed a second hard lockdown with businesses closing from 16 December on until 10 January 2021.
CREDIT: THE DAILY TELEGRAPH NEWS UK

Market Closes for December 18^th, 2020 

Market Index	Close	Change
Dow Jones	30179.05	-124.32
		-0.41%
S&P 500	3709.41	-13.07
		-0.35%
NASDAQ	12755.637	-9.108 -0.07%
TSX	17534.63	-118.31
		-0.67%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26763.39	-43.28
		-0.16%
HANG SENG	26498.60	-179.78
		-0.67%
SENSEX	46960.69	+70.35
		+0.15%
FTSE 100*	6529.18	-21.88 -0.33%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.749	0.742
CND. 30 Year Bond	1.301	1.303
U.S.    10 Year Bond	0.9446	0.9329
U.S. 30 Year Bond	1.6891	1.6797

Currencies

BOC Close	Today	Previous
Canadian $	0.78218	0.78591
US $	1.27848	1.27241
Euro Rate 1 Euro=		Inverse
Canadian $	1.56681	0.63824
US $	1.22552	0.81598

Commodities

Gold	Close	Previous
London Gold Fix	1890.75	1851.95
Oil
WTI Crude Future	49.10	48.36

Market Commentary:
On this day in 1899, rocked by news of heavy casualties in the battle against rebels in the Philippines, the Dow Jones Industrial Average suffered its fifth-worst daily percentage loss of all time, plunging 8.7%, or 5.57 points, to close the day at 58.27.

Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell Friday, with broad declines in real estate and mining stocks, and the benchmark index ended with its first weekly loss since October. The S&P/TSX Composite Index dropped 0.7% Friday, with financial, technology and energy shares also dragging it down. BlackBerry Ltd. plunged 16%; a disappointing earnings report brought an abrupt reversal to what had been epic rally. Precious metals stocks fell. A number of analysts predict the rally that drove some of the world’s largest miners to multiyear highs will extend into 2021 as the economy recovers from the steepest slump since the Great Depression. Oil rose for its seventh straight week as talks on a U.S. virus relief package added to optimism that Covid-19 vaccines will boost the demand outlook.
Commodities
* Western Canadian Select crude oil traded at a $14.60 discount to West Texas Intermediate
* Spot gold dipped about $1,880 an ounce
FX/Bonds
* The Canadian dollar fell 0.5%. It was at C$1.2782 per U.S. dollar as of 4:40 p.m. New York time.
* The 10-year Canada government bond yields 0.749%. That’s about 4 basis points higher than a week ago.

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell 0.7 percent at 17,534.63 in Toronto. The move follows the previous session’s increase of 0.5 percent. Franco-Nevada Corp. contributed the most to the index decline, decreasing 2.6 percent. BlackBerry Ltd. had the largest drop, falling 15.8 percent. Today, 165 of 222 shares fell, while 55 rose; 9 of 11 sectors were lower, led by materials stocks.
Insights
* So far this week, the index was little changed, heading for the biggest decline since the week ended Oct. 30 * 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 3 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 2.4 percent below its 52-week high on Feb. 20, 2020 and 56.9 percent above its low on March 23, 2020
* 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 fell to 10.02 percent compared with 10.03 percent in the previous session and the average of 13.44 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -36.7334| -1.5| 6/45
Financials | -34.6614| -0.7| 2/24
Energy | -16.0257| -0.8| 8/14
Information Technology | -15.3749| -0.8| 1/9
Real Estate | -8.5315| -1.5| 3/23
Utilities | -6.9044| -0.8| 3/13
Consumer Staples | -2.5644| -0.4| 5/6
Health Care | -0.5106| -0.2| 4/6
Industrials | -0.0529| 0.0| 9/19
Communication Services | 1.0578| 0.1| 5/2
Consumer Discretionary | 1.9913| 0.3| 9/4

US
By Kamaron Leach and Sarah Ponczek
(Bloomberg) — U.S. stocks fell after Republican demands left Congress without a deal on a federal spending bill. Tesla Inc. edged higher in heavy trading ahead of its inclusion in the S&P 500. The benchmark index halted a three-day winning streak, though ended well of session lows with a late rally in a flood of trading volume associated with the quarterly expiration of options and futures on stocks and indexes. Almost 200 million shares of Tesla traded hands, four times the 30-day average, as funds benchmarked to the S&P 500 adjusted ahead of the carmaker’s Monday debut.
Stocks spent the session lower as the likelihood that Congress would reach an aid deal ahead of the weekend dwindled. Crude topped $48 a barrel in New York. The dollar rose for the first time in five days. The 10-year Treasury yield moved back above 0.93%. Gold slipped. Copper topped $8,000 a ton for the first time in more than seven years on rising demand and supply bottlenecks. Congress continues to wrangle over a legislation that would give people and businesses a lifeline to withstand the increasing economic toll caused by the pandemic. A bid by Republicans to constrain the Federal Reserve’s crisis lending programs is threatening to derail negotiations. The virus continued to rage across the country, forcing more jurisdictions to enact tighter restrictions.
“Markets have been pretty strong obviously in November and first part of December, so if we get a little bit of a selloff that shouldn’t surprise people a whole lot,” Keith Gangl, a portfolio manager at Gradient Investments, said in an interview. “It’s quadruple witching so it’s usually a little bit of different actions at the end of the day so we’ll see if that happens”
Here are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.4% at 4 p.m. in New York.
* The Stoxx Europe 600 Index dipped 0.4%.
* The MSCI Asia Pacific Index sank 0.4%.
* The MSCI Emerging Market Index declined 0.3%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.3%.
* The euro dipped 0.2% to $1.2239.
* The British pound decreased 0.6% to $1.3509.
* The onshore yuan weakened 0.1% to 6.54 per dollar.
* The Japanese yen weakened 0.2% to 103.32 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 0.94%.
* The yield on two-year Treasuries was flat at 0.121%.
* Germany’s 10-year yield declined less than one basis point to -0.57%.
* Japan’s 10-year yield decreased less than one basis point to 0.01%.
* Britain’s 10-year yield sank five basis points to 0.24%.
Commodities
* West Texas Intermediate crude gained 1.2% to $48.93 a barrel.
* Brent crude dipped 0.1% to $51.46 a barrel.
* Gold strengthened 0.1% to $1,886.61 an ounce.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

In solitude the mind gains strength and learns to lean upon itself.
                                                -Laurence Sterne, 1713-1768

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:
Saturnalia December 17-23: Roman masters served their slaves.
1790: Aztec calendar stone discovered.
On Dec. 17, 1903, Orville and Wilbur Wright made the first successful man-powered airplane flight, near Kitty Hawk, N.C.  Go to article »

Holly and Ivy have been used to decorate homes since the 9^th century because they symbolise everlasting life.  The holly represents Christ’s crown of thorns and the berries his blood.

Astronomers are finding lots of ORCs and have no idea what they are. 

You’re doing hot chocolate wrong.

This restaurant has spent 1,200 years perfecting Christmas dinner

Hauling a tree in a Ferrari is totally normal.

Finally, with all the doom and gloom this winter, it’s important to remember to look on the bright side from time to time. If you knew where to look though, there was plenty of it in 2020. Harriet Barber rounds up the good news of 2020, from scientific breakthroughs and political firsts to mating pandas and rebounding Tasmanian devils. –The Telegraph.

Late Night:
President Trump’s would-be neighbors in Palm Beach, Fla., are opposing his plan to move to his Mar-a-Lago resort after he leaves the White House next month, citing the 1993 agreement Trump signed converting the property from a private residence into a social club.
“What an interesting turn of events,” Jimmy Kimmel said Wednesday. “This started with Donald Trump’s father, who made his fortune evicting people from their homes; now it ends with his son getting evicted from not one, but two houses in one month. In other words, God exists and has a very good sense of humor about all of this.”
PHOTOS OF THE DAY

Tourists walk amongst beach foam in the wake of cyclonic conditions at Currumbin Beach 
CREDIT: PATRICK HAMILTON/AFP VIA GETTY IMAGES

Bocketts Farm in Surrey, England has welcomed a newborn Cria ( baby Alpaca). The newborn is pictured with Ethan who is almost two years old
CREDIT: OLIVER DIXON

Model train enthusiast Gerhard Berndt explains details of his layout in his living room in Berlin. After years of stagnating sales, the model railway market has seen a boost in 2020, due to the restrictions imposed during the Coronavirus Covid-19 pandemic 
CREDIT: JOHN MACDOUGALL/AFP VIA GETTY IMAGES

A man rides his bike in front of a Christian Dior shop, illuminated for Christmas and New Year celebrations in Paris
CREDIT: ALAIN JOCARD/AFP VIA GETTY IMAGES
Market Closes for December 17^th, 2020 

Market Index	Close	Change
Dow Jones	30303.37	+148.83
		+0.49%
S&P 500	3722.48	+21.31
		+0.58%
NASDAQ	12764.746	+106.558 +0.84%
TSX	17652.94	+85.52
		+0.49%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26806.67	+49.27
		+0.18%
HANG SENG	26678.38	+218.09
		+0.82%
SENSEX	46890.34	+223.88
		+0.48%
FTSE 100*	6551.06	-19.85 -0.30%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.742	0.729
CND. 30 Year Bond	1.303	1.298
U.S.    10 Year Bond	0.9329	0.9163
U.S. 30 Year Bond	1.6797	1.6555

Currencies

BOC Close	Today	Previous
Canadian $	0.78591	0.78472
US $	1.27241	1.27433
Euro Rate 1 Euro=		Inverse
Canadian $	1.56126	0.64051
US $	1.22701	0.81499

Commodities

Gold	Close	Previous
London Gold Fix	1851.95	1850.65
Oil
WTI Crude Future	48.36	47.82

Market Commentary:
On this day in 1903, the airplane age was born at 10:35 a.m., when Orville Wright headed into a 27-mph twisting wind and flew roughly 10 feet above the frigid sand dunes of Kitty Hawk, N.C., covering a distance of about 120 feet in 12 seconds.
Canada
By Michael Bellusci
(Bloomberg) — Canadian stocks advanced Thursday, rising for a third straight session.
The S&P/TSX Composite Index gained 0.5%, with materials and tech stocks leading. Health care lagged.
Gold rose to a one-month high after the Federal Reserve reiterated its commitment to supporting the economy and optimism grew that a virus-relief package will soon be delivered by U.S. lawmakers.
The Bank of Canada may be forced to wind down its bond purchases next year because its holdings are getting too large, but don’t expect the move to drive up domestic borrowing costs, CIBC said.
Canada’s population growth ground to a halt in the third quarter after travel restrictions and closed borders prevented most forms of immigration.
Commodities
* Western Canada Select crude oil traded at a $14.50 discount to West Texas Intermediate
* Spot gold rose 1.1% to ~$1,886 an ounce
FX/Bonds
* The Canadian dollar rose 0.1% to C$1.2726 per U.S. dollar
* The 10-year government bond yield rose 1.3 basis points to 0.742%
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the third day, climbing 0.5 percent, or 85.52 to 17,652.94 in Toronto. The index advanced to the highest closing level since Feb. 21.
Shopify Inc. contributed the most to the index gain, increasing 2.2 percent. Seabridge Gold Inc. had the largest increase, rising 9.3 percent.
Today, 127 of 222 shares rose, while 93 fell; 5 of 11 sectors were higher, led by materials stocks.
Insights
* So far this week, the index rose 0.6 percent
* This quarter, the index rose 9.5 percent
* This year, the index rose 3.5 percent, poised for the best year since 2019
* The index advanced 3.4 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 1.8 percent below its 52-week high on Feb. 20, 2020 and 58 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 4.2 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 27 on a trailing basis and 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$2.7t
* 30-day price volatility fell to 10.03 percent compared with 10.07 percent in the previous session and the average of 13.68 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 60.8099| 2.5| 49/3
Information Technology | 33.4982| 1.9| 9/1
Industrials | 12.9622| 0.6| 14/14
Consumer Discretionary | 4.0283| 0.6| 11/2
Utilities | 1.1812| 0.1| 7/8
Consumer Staples | -0.3788| -0.1| 4/7
Health Care | -3.5517| -1.7| 3/6
Real Estate | -3.5688| -0.6| 4/22
Communication Services | -4.7592| -0.5| 1/6
Financials | -5.4476| -0.1| 13/13
Energy | -9.2375| -0.5| 12/11
US
By Claire Ballentine and Vildana Hajric
(Bloomberg) — U.S. stocks notched a solid gain to close at all-time highs, even as lawmakers continue to wrangle over a federal-spending deal.
The S&P 500 climbed for a third day, even with Republicans and Democrats still unable to reach an agreement that would assist millions of Americans who face losing virus-era assistance later this month. Investors earlier took an unexpectedly large rise in jobless claims as a sign the two sides would be prodded toward a deal. The dollar slumped, Treasury yields rose and oil advanced. Bitcoin breached $23,000 for the first time.
With the clock ticking to renew pandemic aid, leaders in Washington are under pressure to resolve their differences after months of deadlock amid signs of a faltering economic recovery.
The country continues to set records for virus infections and deaths, with more jurisdictions tightening lockdowns in a renewed threat to the economy.
In Europe, lawmakers cleared the bloc’s 1.8 trillion-euro ($2.2 trillion) stimulus package on Wednesday. Cyclical shares such as miners and retailers rose on news that the rollout of a Covid vaccine would begin this month. The pound climbed and the euro rose to the highest since April 2018 as officials cautiously predicted a Brexit deal within days. Both held their gains after European Commission President Ursula von der Leyen said “big differences” remain. “Investors know that the environment for businesses and for earnings is going to be good in the medium and long-term,” said Chris Gaffney, president of world markets at TIAA Bank. “The global economy and the U.S. in particular is going to go through a tough patch here in the next few months. However, the central banks and the future looks good.” Emmanuel Macron’s office said he’d tested positive for the coronavirus. The French president, 42, will self-isolate during seven days, while continuing to work, his office said. The number of virus deaths reached another daily record in the U.S., while the first known allergic reaction to the Pfizer Inc. vaccine was reported in Alaska as some snarls began to emerge in the effort to send the shots across the country.
Elsewhere, oil held gains in the wake of a surprise decline in U.S. crude inventories. Stocks across Asia saw modest advances.

Here are some key events coming up:
* Policy decisions from central banks in Japan and Russia are due Friday.

These are some of the main moves in markets:
Stocks
*The S&P 500 Index advanced 0.6% as of 4 p.m. New York time, the highest on record.
*The Dow Jones Industrial Average gained 0.5%.
*The Nasdaq Composite Index climbed 0.8%.
Currencies
*The Bloomberg Dollar Spot Index fell 0.4% to the lowest in almost three years.
*The euro gained 0.6% to $1.2267, the strongest in almost three years.
*The Japanese yen appreciated 0.3% to 103.11 per dollar, the strongest in more than nine months.
Bonds
*The yield on 10-year Treasuries rose one basis point to 0.93%.
*Germany’s 10-year yield declined two basis points to -0.57%.
*Britain’s 10-year yield rose one two basis points to 0.29%.
Commodities
*West Texas Intermediate crude gained 1.1% to $48.36 a barrel, the highest in almost 10 months.
*Gold futures strengthened 1.6% to $1,889 an ounce, the highest in almost six weeks.
–With assistance from Adam Haigh, Cecile Gutscher and Brendan Walsh.
Have a great night.

Be magnificent!
As ever,

Carolann

In the war between falsehood and truth  falsehood wins the first battle and truth the last.
                                                                       -Sheikh Mujibur Rahman, 1920-1975

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: Ludwig Von Beethoven, b. 1770.
Noel Coward, playwright, b.1899
Margaret Mead, anthropologist, b. 1901
1773: Boston Tea Party.
1985: Reputed organized-crime chief Paul Castellano was shot to death outside a New York City restaurant. Go to article »

News from AUSTRALIA: Scientists have found a thriving column of coral taller than the Empire State Building – the first new structure of the Great Barrier Reef system discovered in more than 120 years.  Studies show the Great Barrier Reef has lost more than 50% of its coral in recent decades, but this new blade-like outcropping off the coast of North Queensland appears healthy.  Measuring more than 1,690 feet, the reef is teeming with life, including several species of shark and rare fish.
  Remote reefs such as this one are difficult to study, but the deep-sea robots and sonar beams on Falkor, the Schmidt Ocean Institute’s massive research vessel, allowed scientists to create a 3D map of the seabed.  “This powerful combination of mapping data and underwater imagery will be used to understand this new reef and its role within the incredible Great Barrier Reef World Heritage Area,” said Dr. Jjyotika Virmani, the institute’s executive director.  –The NY Times.

9,000: Age of a female skeleton found buried in the Andes highlands of Peru with what archaeologists describe as a big-game hunting kit.  The discovery challenges widely held beliefs about the role of women in ancient hunter-gatherer societies.-Science Advances.

300 MILLION: Habitable exoplanets thought to exist in our galaxy, based on a new analysis of data from NASA’s Kepler spacecraft. –The NY Times.

PHOTOS OF THE DAY

Elsa the Golden Retriever and Dolly the Cocker Spaniel enjoy a morning walk on the beach at Herne Bay, Kent
CREDIT: LIZ GREGG/TRIANGLE NEWS

‘Fishing’ by Shibasish Saha of nets being cast in Garhbeta, West Bengal received an honorable mention in the Photography 4 Humanity Global Contest 2020
CREDIT: MEDIADRUMIMAGES/ SHIBASISH SAHA

Workers take down the iconic jockey statues from the front of the 90-year-old Midtown restaurant the 21 Club in New York City. The 21 Club was one on New York’s oldest and most storied restaurants, having been patronized by famous artists, actors and business leaders among many others over its nearly 100-year history.

The restaurant, which announced that it is permanently shutting down, has been temporarily closed since the city first banned dine-in services at restaurants and bars in March. Hundreds of New York restaurants, bars and cafes have shuttered due to Covid-19
CREDIT: SPENCER PLATT/GETTY IMAGES
Market Closes for December 16^th, 2020 

Market Index	Close	Change
Dow Jones	30154.54	-44.77
		-0.15%
S&P 500	3701.17	+6.55
		+1.18%
NASDAQ	12658.188	+63.128 +0.50%
TSX	17567.42	+60.94
		+0.35%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26757.40	+69.56
		+0.26%
HANG SENG	26460.29	+253.00
		+0.97%
SENSEX	46666.46	+403.29
		+0.87%
FTSE 100*	6570.91	+57.59 +0.88%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.729	0.727
CND. 30 Year Bond	1.298	1.293
U.S.    10 Year Bond	0.9163	0.9080
U.S. 30 Year Bond	1.6555	1.6502

Currencies

BOC Close	Today	Previous
Canadian $	0.78472	0.78753
US $	1.27433	1.26980
Euro Rate 1 Euro=		Inverse
Canadian $	1.55429	0.64338
US $	1.21969	0.81988

Commodities

Gold	Close	Previous
London Gold Fix	1850.65	1831.15
Oil
WTI Crude Future	47.82	47.62

Market Commentary:
On this day in 1835, a disastrous fire raged through Manhattan, destroying the New York Stock & Exchange Building—but Wall Street breathed a sigh of relief anyway. A strongbox of documents showing who stood to gain and lose from the manipulation of stock prices was rescued from the flames by a brave (or desperate) broker. His grateful peers promptly gave him a generous cash reward.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities pared their early gains Wednesday, while copper and gold were higher.
The S&P/TSX Composite Index gained about 0.1%, with materials leading the gainers. Energy and health care lagged.
On the deal front, Tilray Inc. and Aphria Inc. agreed to combine their operations, forming a new giant in the fast-growing cannabis industry. Gold extended its advance off the back of a weaker dollar, as investors awaited the outcome of the Federal Reserve’s final meeting of the year, and weighed the potential for a fiscal stimulus deal.
Sales of sustainable and project bonds in Canada are expected to take off next year after companies issued a record amount of corporate debt in 2020 to bolster cash reserves and push out maturities.
Commodities
* Western Canada Select crude oil traded at a $14.25 discount to West Texas Intermediate
* Spot gold rose 0.2% to $1,855.60 an ounce
FX/Bonds
* The Canadian dollar fell 0.4% to C$1.2751 per U.S. dollar
* The 10-year government bond yield rose 2.4 basis points to 0.750%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.3 percent, or 60.94 to 17,567.42 in Toronto.
Shopify Inc. contributed the most to the index gain and had the largest move, increasing 8.3 percent.
Today, 95 of 222 shares rose, while 123 fell; 3 of 11 sectors were higher, led by information technology stocks.
Insights
* This quarter, the index rose 9 percent
* This year, the index rose 3 percent, poised for the best year since 2019
* The index advanced 3 percent in the past 52 weeks. The MSCI AC  Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 2.2 percent below its 52-week high on Feb. 20, 2020 and 57.2 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 4 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 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$2.69t
* 30-day price volatility fell to 10.07 percent compared with
11.14 percent in the previous session and the average of 13.94 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 84.8429| 4.9| 3/7
Materials | 32.7105| 1.4| 41/10
Financials | 4.9417| 0.1| 15/10
Communication Services | -0.0573| 0.0| 2/5
Consumer Discretionary | -0.6277| -0.1| 7/6
Health Care | -1.0778| -0.5| 4/6
Real Estate | -1.3533| -0.2| 12/14
Consumer Staples | -3.2946| -0.5| 2/9
Utilities | -8.0222| -0.9| 4/11
Industrials | -12.8145| -0.6| 3/24
Energy | -34.3037| -1.6| 2/21
US
By Rita Nazareth
(Bloomberg) — Stocks rose on speculation that lawmakers are getting closer to a stimulus deal aimed at reviving the world’s largest economy. Treasuries fell as the Federal Reserve disappointed some traders who expected changes to the composition of bond purchases.
The S&P 500 climbed after Senate Majority Leader Mitch McConnell said Congress leaders are still talking about fresh aid and he thinks “we’re gonna get there.” Retailers, technology and financial shares drove the advance in the benchmark gauge of American equities amid thin trading volume. The Nasdaq 100 outperformed, while the Dow Jones Industrial Average dropped.
Treasuries pared some of its losses, with the yield on 10-year notes remaining below 1%. Bitcoin surpassed $20,000 for the first time. Investors awaited developments on stimulus talks after months of deadlock amid signs the economic recovery is faltering. The deal that lawmakers are attempting to wrap up includes payments to individuals and supplemental unemployment insurance, but excludes liability protections and direct aid for state and local governments, according to two people familiar
with the matter. Four people briefed said the virus aid is expected to be less than $900 billion. Fed Chair Jerome Powell said the case for fiscal stimulus is “very, very strong” as the pandemic continues to rage.
“Investors have clearly applauded recent news that legislation is imminent before Congress recesses for the holiday break knowing the Fed will buy every last Treasury that is issued to fund the relief package,” said Danielle DiMartino Booth, chief executive officer of Quill Intelligence in Dallas.
While enthusiasm for individual U.S. stocks is at an extreme among option traders, the same can’t be said for equity indexes. Option-based indicators compiled by Cboe Global Markets show the contrast. The ratio between stock-specific put and call options closed Monday at its lowest level since April 2000, based on 20-day averages. This shows contracts that rise along with specific stocks are much more in demand than usual. Yet the put-call ratio for index options is near a nine-year high, set Nov. 12. Variant Perception Research highlighted the distinction in a Twitter post Tuesday.

Here are some key events coming up:
* Policy decisions from the Bank of England and central banks in Mexico, Switzerland and Indonesia are due Thursday. Japan and Russia announce decisions Friday.

These are some of the main moves in markets:
Stocks
* The S&P 500 rose 0.2% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index gained 0.8%.
* The MSCI Asia Pacific Index rose 1%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%.
* The euro increased 0.4% to $1.2197.
* The Japanese yen appreciated 0.2% to 103.44 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 0.92%.
* Germany’s 10-year yield gained four basis points to -0.57%.
* Britain’s 10-year yield climbed one basis point to 0.272%.
Commodities
* The Bloomberg Commodity Index rose 0.4%.
* West Texas Intermediate crude climbed 0.5% to $47.85 a barrel.
* Gold rose 0.5% to $1,863.26 an ounce.

–With assistance from Joanna Ossinger, Albertina Torsoli, Adam Haigh, David Wilson and Lu Wang.
Have a great night.

Be magnificent!
As ever,

Carolann

Truth is confirmed by inspection and delay; falsehood by haste and uncertainty.
                                                                           -Tacitus, 56 AD-120 AD

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:
Nostradamus, astronomer, b. 1503.
1774: first incident of American Revolution – 400 attack Fort William and Mary, New Hampshire.
1911: Amundsen reaches the South Pole.
1979 The album “London Calling” by the Clash was released. Go to article »

Astronomers find “superhighways” for fast space travel. –Bloomberg.

Your brain makes you a different person every day.

Europe’s sleeper trains are back.

And here is our ranking of Netflix’s original holiday movies out this year, from best to worst.

Happy 250th, Ludwig. –from The NY Times:
He was the son of a harsh father who had a disappointing music career and a mother who died of tuberculosis when he was a teenager.
He got his break when he managed to put one of his cantatas into the hands of Joseph Haydn, then perhaps the world’s greatest composer, who agreed to teach him.
He received a note from a patron, as he was leaving his native Bonn for the Haydn tutelage in Vienna, that read, “With the help of unceasing diligence you will receive the spirit of Mozart from the hands of Haydn.”
Ludwig van Beethoven made good on that prediction, somehow overcoming the slow, agonizing loss of his hearing over the next 35 years to compose symphonies, marches, fugues, concertos, sonatas and, of course, cantatas that have endured for centuries.
This week brings Beethoven’s 250th birthday (the exact date most likely being tomorrow or Wednesday), and The Times has a panoply of coverage to celebrate: a (pre-pandemic) road trip retracing his steps; a profile of the woman who made pianos for him; an interview with a conductor who uses period instruments to recapture the original sound; an appreciation by Anthony Tommasini, the Times critic; and much more.
A good place to start: A selection of Beethoven’s greatest music, curated by The Times.

PHOTOS OF THE DAY

A red squirrel imitates a superhero as it flies through the air. The athletic ‘super squirrel’ was caught on camera leaping to collect nuts in a woodland clearing near the Dutch town of Berghem
CREDIT: JENS STAHL/SOLENT NEWS & PHOTO AGENCY

A visitor looks up at a illuminated lantern of the White Rabbit that forms part of the enchanting Alice in Winterland Christmas Lights Trail at Lightwater Valley in North Yorkshire.
CREDIT: DANNY LAWSON/PA

Kyrgyz men on horseback compete during the Chui Oblast Kok Boru Championships in the village of Chokmorov, some 20 kilometers from Bishkek, Kyrgyzstan.

Kok-boru is a traditional riding game in Central Asia in which players grab a goat carcass from the ground while riding on their horses and try to score by placing it in the opponent’s goal
CREDIT: IGOR KOVALENKO/EPA-EFE/SHUTTERSTOCK

Market Closes for December 14^th, 2020 

Market Index	Close	Change
Dow Jones	29861.55	-184.82
		-0.62%
S&P 500	3647.49	-15.97
		-0.44%
NASDAQ	12440.039	+62.167 +0.50%
TSX	17387.40	-161.52
		-0.92%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26732.44	+79.92
		+0.30%
HANG SENG	26389.52	-116.35
		-0.44%
SENSEX	46253.46	+154.45
		+0.34%
FTSE 100*	6531.83	-14.92 -0.23%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.717	0.712
CND. 30 Year Bond	1.280	1.266
U.S.    10 Year Bond	0.8931	0.8964
U.S. 30 Year Bond	1.6290	1.6270

Currencies

BOC Close	Today	Previous
Canadian $	0.78365	0.78260
US $	1.27607	1.27780
Euro Rate 1 Euro=		Inverse
Canadian $	1.55010	0.64512
US $	1.21474	0.82322

Commodities

Gold	Close	Previous
London Gold Fix	1842.00	1844.35
Oil
WTI Crude Future	46.99	46.57

Market Commentary:
On this day in 1900, German physicist Max Planck, in a lecture at the German Physical Society, introduced the theory of quantum mechanics. Today its principles of discontinuity and packets of emitted energy underlie an estimated 30% of the U.S. economy, including semiconductors, lasers and medical MRI devices.

Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell in a broad-based retreat to begin the week. The S&P/TSX Composite Index fell 0.9%, with energy, materials, and communication services leading the drop. Tech advanced. Gold fell to a one-week low as investors tracked the deployment of the first Covid-19 vaccines in the U.S. and the continuation of talks on a stimulus bill. On the deal front, Apollo Global Management Inc. is mulling an increase to its $2.5 billion takeover bid for Great Canadian Gaming Corp. but may walk away from the deal if it can’t win approval at an upcoming shareholder meeting, according to people familiar with the matter. Canada’s gross domestic product is expected to grow 2.6% on an annualized basis in the six months through March, down from a previous forecast of 3.3%, the monthly survey showed. That will be fully offset by stronger growth starting in the second quarter.
Commodities
* Western Canada Select crude oil traded at a $12.65 discount to West Texas Intermediate
* Spot gold fell 0.6% to $1,828.94 an ounce
FX/Bonds
* The Canadian dollar rose 0.1% to C$1.2762 per U.S. dollar
* The 10-year government bond yield edged higher to 0.714%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.9 percent, or 161.52 to 17,387.40 in Toronto. The move was the biggest since falling 1.2 percent on Nov. 30. Royal Bank of Canada contributed the most to the index decline, decreasing 1.4 percent. Torex Gold Resources Inc. had the largest drop, falling 5.8 percent. Today, 133 of 222 shares fell, while 87 rose; 6 of 11 sectors were lower, led by financials stocks.
Insights
* This quarter, the index rose 7.9 percent
* This year, the index rose 1.9 percent, poised for the best year since 2019
* The index advanced 2.3 percent in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 3.2 percent below its 52-week high on Feb. 20, 2020 and 55.6 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1.1 percent in the past 5 days and rose 4.3 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.6 on a trailing basis and 23.3 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 11.09 percent compared with 11.01 percent in the previous session and the average of 14.26 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -56.7077| -1.1| 7/19
Energy | -49.6600| -2.3| 2/21
Materials | -43.6733| -1.9| 9/41
Communication Services | -15.5302| -1.7| 2/5
Industrials | -13.8227| -0.6| 14/14
Health Care | -2.6433| -1.3| 5/5
Consumer Staples | 2.2161| 0.3| 7/4
Real Estate | 2.2316| 0.4| 15/11
Utilities | 2.3553| 0.3| 10/6
Consumer Discretionary | 5.0719| 0.8| 9/4
Information Technology | 8.6441| 0.5| 7/3

US
By Kamaron Leach and Yakob Peterseil
(Bloomberg) — U.S. stocks fell for a fourth day as investors assessed the prospects for a federal spending package and the likelihood for further virus-related economic restrictions. The S&P 500 Index capped its longest slide since September and is 1.5% below its Dec. 8 record. Drugmakers led the Nasdaq 100 Index higher after Alexion Pharmaceuticals Inc. agreed to be bought by AstraZeneca Plc. Energy producers tumbled after OPEC cut its demand forecast. Oil was lower most of the day before reversing. The dollar extended its slump with Treasuries. Brazil’s Ibovespa Index erased losses for the year.
Optimism from the start of Covid-19 shots gave way to concern over whether a relief bill from a bipartisan group of lawmakers would gain traction after its release later. The virus continued to rage in the U.S., threatening harsher restrictions across the nation. New York City Mayor Bill de Blasio warned that people should be prepared for a full shutdown and start making plans to work remotely. The Electoral College will officially elect Joe Biden president. “Signs of market fatigue are more prevalent today than a month ago, even as the popular average is near all-time highs,” wrote Paul Nolte, a portfolio manager at Kingsview Investment Management. “The much-awaited correction could come as investors tire of Washington, worry about the Covid cases over the holidays, or some other concern that is likely to pass in a few months rather than dominate the news cycle the way Covid has during the last nine.”
The head of the U.S. government’s vaccination drive said as much as 80% of the population could be given the shot by next summer, putting “herd immunity” within reach. Wall Street strategists are in broad agreement that vaccines will supercharge the economy next year. “There is huge pent-up investment demand across the entire institutional world,” Michael Strobaek, global chief investment officer at Credit Suisse Group AG, told Bloomberg TV. “We’re steering into year-end with still tons of liquidity on the sidelines. I would not be on the wrong side of that.”
Here are some key events coming up:
* Tuesday brings China industrial production and retail sales data for November.
* The Federal Reserve meets Tuesday and Wednesday, with markets widely expecting fresh guidance on its continued asset purchases.
* Policy decisions from the Bank of England and central banks in Mexico, Switzerland and Indonesia are due Thursday. Japan and Russia announce decisions Friday.

These are the main moves in markets:
Stocks
The S&P 500 Index fell 0.4% as of 4 p.m. New York time.
The Dow Jones Industrial Average lost 0.6%.The Nasdaq 100 Index climbed 0.7%.
The Stoxx Europe 600 Index added 0.4%.
The MSCI All-Country World Index fell 0.1%.
Currencies
The Bloomberg Dollar Spot Index decreased 0.2%
The euro climbed 0.3% to $1.2142.
The Japanese yen was unchanged at 104.06 per dollar.
The British pound jumped 0.8% to $1.3323, the biggest increase in more than five weeks.
Bonds
The yield on 10-year Treasuries gained less than one basis point to 0.90%.
Germany’s 10-year yield climbed two basis points to -0.62%, the biggest increase in almost two weeks.
Britain’s 10-year yield jumped five basis points to 0.222%, the largest surge in five weeks.
Commodities
West Texas Intermediate crude rose 0.9% to $46.99 a barrel, the biggest dip in almost two weeks.
Gold futures depreciated 0.7% to $1,831 an ounce.

Have a great night.

Be magnificent!
As ever,

Carolann

Consider the subtleness of the sea; how its most dreaded creatures
glide under water, unapparent for the most part, and treacherously
hidden beneath the loveliest tints of azure.
                                   -Herman Melville, 1819-1891, Moby Dick

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents: Happy Friday.

1998 The House Judiciary Committee approved three articles of impeachment against President Bill Clinton.  Go to article »

UNICEF founded.

1936: Edward VIII abdicates to marry Wallis Simpson.

Other notable ‘of the year’ mentions: LeBron James as Athlete of the Year, and Korean pop band BTS as Entertainer of the Year. 

Surprise, Taylor Swift has a new album just five months after the release of her Grammy-nominated “Folklore.”

GIFTS FROM CYBERSPACE: A fried chicken key chain. A giant acrylic frog. A $12,000 crystal ham. We recommend perusing this gift guide that is equal parts bizarre and delightful.

PHOTOS OF THE DAY

Snow sculptors processing an artwork in the compound of the 33rd Harbin Sun Island International Snow Sculpture Art Exposition in Harbin, northeast China’s Heilongjiang Province.
CREDIT: XINHUA/SHUTTERSTOCK

People stand in the “Mill”, a 20m long natural ice cave created by melted water accumulated during the summer and by a siphon effect leaves in the autumn giving way to an ice cathedral, at the Glacier 3000 ski resort in Les Diablerets, Switzerland.
CREDIT: REUTERS/DENIS BALIBOUSE

An acrobatic stoat somersaults through the air. The excitable animal chased birds on the windless morning and later caught a rabbit. After making its catch, it dragged its prize to a nearby rabbit hole, away from other predators such as foxes and buzzards. The pictures were taken at Marazion Marsh, Cornwall, UK.
CREDIT: BOB SHARPLES/SOLENT NEWS & PHOTO AGENCY

The very rare and endangered Anolis Proboscis (also known as the Ecuadorian Horned Anole) was believed to have become extinct for more than 40 years before being rediscovered by scientists again back in 2004 in Ecuador. This long-nosed canopy-dwelling lizard has a cryptic camouflage helping it to blend in with the mossy vegetation making it a challenge to spot. The function of the male’s unusual “nose” (proboscis) is not fully understood yet. The nose is flimsy, so it is unlikely he would use it as weapon of defence in battles between with other males. Only the male has the long pointy nose appendage, so perhaps it’s size may show its good genes to females. 
CREDIT: DAVID WEILLER/WENN

A Kazakh man stands amongst the rugged terrain of the Altai region with his eagle. A rare image has captured a Mongolian female eagle hunter – one of only ten who participate in this male dominated tradition.  The eagles are treated like a respected member of the family and live alongside their masters and mistresses. 
CREDIT: MEDIADRUMIMAGES

Market Closes for December 11^th, 2020 

Market Index	Close	Change
Dow Jones	30046.37	+47.11
		+0.16%
S&P 500	3663.46	-4.64
		-0.13%
NASDAQ	12377.872	-27.937 -0.23%
TSX	17548.92	-44.42
		-0.25%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26652.52	-103.72
		-0.39%
HANG SENG	26505.87	+95.28
		+0.36%
SENSEX	46099.01	+139.13
		+0.30%
FTSE 100*	6546.75	-53.01 -0.80%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.712	0.736
CND. 30 Year Bond	1.266	1.276
U.S.    10 Year Bond	0.8964	0.9047
U.S. 30 Year Bond	1.6270	1.6303

Currencies

BOC Close	Today	Previous
Canadian $	0.78260	0.78484
US $	1.27780	1.27415
Euro Rate 1 Euro=		Inverse
Canadian $	1.54748	0.64621
US $	1.21105	0.82573

Commodities

Gold	Close	Previous
London Gold Fix	1844.35	1841.75
Oil
WTI Crude Future	46.57	46.78

Market Commentary:
On this day in 1941, after the U.S. had declared war, the New York Stock Exchange suspended trading in all “enemy securities,” including 36 issues from Germany, 10 from Japan, nine from Italy, six from Austria, five from Hungary and one from Bulgaria.

Canada
By Michael Bellusci
(Bloomberg) — Canadian equities rose for a sixth straight week after rallies in various oil & gas producers on higher oil prices. The S&P/TSX Composite Index still dropped 0.25% Friday, as health care and consumer discretionary retreated. On the U.S. stimulus front, the Senate passed a one-week stopgap spending bill Friday, giving President Donald Trump just enough time to sign it and avert a government shutdown after current funding runs out at midnight. Meanwhile, Prime Minister Justin Trudeau stepped up efforts to hit Canada’s emissions targets by 2030, pledging billions in new money to combat climate change and increasing in his marquee carbon tax.
Commodities
* Western Canada Select crude oil traded at a $12.85 discount to West Texas Intermediate
* Spot gold rose 0.2% to $1,840.00 an ounce
FX/Bonds
* The Canadian dollar fell 0.2% to C$1.2767 per U.S. dollar
* The 10-year government bond yield fell 2.3 basis points to 0.712%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 0.3 percent at 17,548.92 in Toronto. The move follows the previous session’s increase of 0.2 percent. Brookfield Asset Management Inc. contributed the most to the index decline, decreasing 1.6 percent. Ero Copper Corp. had the largest drop, falling 3.9 percent. Today, 121 of 222 shares fell, while 96 rose; 6 of 11 sectors were lower, led by financials stocks.
Insights
* So far this week, the index was little changed
* This quarter, the index rose 8.9 percent
* This year, the index rose 2.8 percent, poised for the best year since 2019
* The index advanced 3.6 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 2.3 percent below its 52-week high on Feb. 20, 2020 and 57.1 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of 26.9 on a trailing basis and 23.4 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 rose to 11.01 percent compared with 10.87 percent in the previous session and the average of 14.59 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -18.3106| -0.3| 8/18
Information Technology | -11.1435| -0.6| 4/5
Consumer Discretionary | -10.8009| -1.6| 0/13
Materials | -9.9709| -0.4| 18/34
Health Care | -3.7298| -1.8| 2/8
Real Estate | -0.0858| 0.0| 16/10
Energy | 0.1709| 0.0| 13/8
Utilities | 0.7784| 0.1| 8/8
Communication Services | 2.0256| 0.2| 4/2
Consumer Staples | 2.0680| 0.3| 7/4
Industrials | 4.5817| 0.2| 16/11

US
By Rita Nazareth
(Bloomberg) — Stocks pared losses as lawmakers passed a stopgap spending bill to avert a federal-government shutdown, but gave no signals of an imminent stimulus deal. In a volatile session, the S&P 500 quickly trimmed a slidethat reached about 1% earlier Friday. The equity benchmark still notched its worst weekly drop since October amid an impasse over a relief package and concern about tougher restrictions as coronavirus cases swept across the nation. Giants Facebook Inc.and Tesla Inc. paced declines in the Nasdaq 100, while the Dow Jones Industrial Average rose as Walt Disney Co. soared to an all-time high after a bold forecast for its new streaming services.
     With the clock ticking down on stimulus as lawmakers approach their year-end break, bipartisan talks are hung up on differences between Republicans and Democrats on shielding companies from virus-related lawsuits. While both sides are closer than ever to agreeing on a price tag — coalescing around a $900 billion figure — there’s no sign they can get a deal anytime soon. In the meantime, the U.S. appears poised to cross 300,000 Covid-19 deaths in the next week, a sign of the unprecedented gravity of the pandemic as states prepare for their first vaccinations.
“It’s essential that Congress puts aside differences and finds agreement on a stimulus program before the end of the year,” said Craig Erlam, senior market analyst at Oanda.  “Lawmakers are running out of time.” Earnings estimates for the next two years make U.S. stocks look more costly in historical terms than just one year’s worth of projections, or even past results.
The S&P 500 closed Thursday at 26 times earnings, using a gauge that takes estimates for the longer time period into account. That’s close to the Sept. 2 ratio of 27.2, the highest since data compiled by Bloomberg starts in 1990. This indicator was cited by Jeffrey Gundlach, chief executive officer of DoubleLine Capital LP, in a presentation Tuesday. The benchmark hasn’t set a similar high relative to the past year’s earnings or next year’s estimates.
     Elsewhere, the pound fell after Prime Minister Boris Johnson and European Commission President Ursula von der Leyen both warned that a no-deal Brexit is looming on Dec. 31 as they continued last-ditch talks to try to reach a deal before Sunday.
These are some of the main moves in markets:
Stocks
* The S&P 500 fell 0.1% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index declined 0.8%.
* The MSCI Asia Pacific Index climbed 0.3%.
Currencies
* The Bloomberg Dollar Spot Index gained 0.2%.
* The euro fell 0.2% to $1.2115.
* The British pound declined 0.5% to $1.3222.
* The Japanese yen appreciated 0.2% to 104.04 per dollar.
Bonds
* The yield on 10-year Treasuries fell two basis points to 0.89%.
* Germany’s 10-year yield dipped three basis points to -0.64%.
* Britain’s 10-year yield decreased three basis points to 0.172%.
Commodities
* West Texas Intermediate crude dipped 0.4% to $46.61 a barrel.
* Gold rose 0.1% to $1,839.02 an ounce.
–With assistance from Adam Haigh, Todd White, Cecile Gutscher and David Wilson.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

It ain’t what they call you, it’s what you answer to.
                                   –W.C. Fields, 1880-1946

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com

Dear Friends,

Tangents:
Hanukkah begins tonight, and this recipe for potato latkes is a must-try even for people not observing the holiday.
1965 The Grateful Dead played their first concert, at the Fillmore Auditorium in San Francisco. Go to article »
The Times rounded up the best holiday movies on Netflix.

MLS releases list of 25 greatest ever players.  Soccer fans, debate amongst yourselves.

Centuries later, we have an answer to a seemingly simple math problem.

Lives Lived: In glowing colors, Helen LaFrance painted scenes from her childhood in rural Kentucky: church picnics, river baptisms and kitchens with jars of preserves shining like stained-glass windows. She once called painting “a way of reliving it all again.” LaFrance died at 101.

Emily Dickinson, b. December 10, 1830.  One of America’s greatest poets, she was born, lived and died in Amherst, Massachusetts.  She was reclusive, mysterious, and frail in health.  Seven of her poems were published in her lifetime, but after her death, her sister, Lavinia, discovered almost 2,000 more poems written on the backs of envelopes and other scraps of paper locked in Emily’s bureau.  They were published gradually over 50 years, beginning in 1890.  Emily died May 15^th, 1886.

There’s a certain
Slant of light,
Winter Afternoon

– That oppresses, like the Heft of Cathedral Tunes. –Emily Dickinson.

PHOTOS OF THE DAY

An aurora storm over freshly fallen snow in Pallas Fell,  Finnish Lapland. ‘Flames in the sky’ by Risto Leskinen is an entrant in 2020 Northern Lights Photographer Of The Year competition
CREDIT: RISTO LESKINEN/CAPTURE THE ATLAS/TRIANGE NEWS

‘Curious’, which pictures a bug on a flower by Guiming Zhang, won  Second prize in the Microcosm category of The Golden Turtle Festival photography competition. The competition celebrates the beauty of wildlife.
The contest, which is in its 14th year, attracted more than 14,000 entries from 108 countries all over the world, including Italy, Belgium, Russia and Spain
CREDIT: GUIMING ZHANG/GOLDEN TURTLE/BAV MEDIA

‘Vikings in the sky’ by Nico Rinaldi, shows the Northern Lights glowing in the sky above an imposing mountain and volcanic black sand beach, surrounded by large dunes in Iceland. Part of the 2020 Northern Lights Photographer Of The Year awards, held by Capture The Atlas photography blog
CREDIT: NICO RINALDI/CAPTURE THE ATLAS/TRIANGE NEWS

A 1500-pound Kamchatka brown bear enjoys a spot of salmon fishing at Kuril Lake, Kamchatka, Siberia
CREDIT: MEDIADRUMIMAGES/JON LANGELAND

Market Closes for December 10^th, 2020 

Market Index	Close	Change
Dow Jones	29999.26	-69.55
		-0.23%
S&P 500	3668.10	-4.72
		-0.13%
NASDAQ	12405.809	+66.856 +0.54%
TSX	17593.34	+33.48
		+0.19%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26756.24	-61.70
		-0.23%
HANG SENG	26410.59	-92.25
		-0.35%
SENSEX	45959.88	-143.62
		-0.31%
FTSE 100*	6599.76	+35.47 +0.54%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.736	0.751
CND. 30 Year Bond	1.276	1.298
U.S.    10 Year Bond	0.9047	0.9361
U.S. 30 Year Bond	1.6303	1.6837

Currencies

BOC Close	Today	Previous
Canadian $	0.78484	0.78013
US $	1.27415	1.28184
Euro Rate 1 Euro=		Inverse
Canadian $	1.54663	0.64657
US $	1.21385	0.82382

Commodities

Gold	Close	Previous
London Gold Fix	1841.75	1868.15
Oil
WTI Crude Future	46.78	45.52

Market Commentary:
On this day in 1984, Sandy Lerner and Leonard Bosack—two professors in different academic departments at Stanford who were frustrated by their difficulty in communicating by computer—founded Cisco Systems to make improved network switching equipment.

Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets pared their earlier losses to close Thursday’s session with a gain. The S&P/TSX Composite index rose 0.2% in Toronto, led by energy. Meanwhile, consumer staples were the worst performing stocks. Oil futures in London blew past $50 a barrel for the first time since the pandemic ground the global economy to a halt in a remarkable rally that few predicted would happen this soon. Meanwhile, Canada’s budget watchdog is questioning the rationale behind Prime Minister Justin Trudeau’s plan to roll out as much as C$100 billion ($78.6 billion) in post-Covid-19 stimulus over the next three years, saying the economy won’t need all that spending.
Commodities
* Western Canada Select crude oil traded at a $12.40 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,835.61 an ounce
FX/Bonds
* The Canadian dollar was rose 0.6% to C$1.2741 per U.S. dollar
* The 10-year government bond yield fell slightly to 0.734%

By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite rose 0.2 percent at 17,593.34 in Toronto. The move follows the previous session’s decrease of 0.4 percent. Shopify Inc. contributed the most to the index gain, increasing 2.5 percent. Enerplus Corp. had the largest increase, rising 9.9 percent. Today, 126 of 222 shares rose, while 93 fell; 6 of 11 sectors were higher, led by energy stocks.
Insights
* So far this week, the index rose 0.4 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 3.8 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 2.1 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 up 1.1 percent in the past 5 days and rose 5.9 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 23.4 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 fell to 10.87 percent compared with 11.26 percent in the previous session and the average of 14.78 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 44.5673| 2.1| 23/0
Information Technology | 26.6577| 1.6| 5/5
Real Estate | 3.1894| 0.6| 20/4
Utilities | 1.7374| 0.2| 10/6
Health Care | 1.4131| 0.7| 7/3
Financials | 0.3183| 0.0| 8/18
Consumer Discretionary | -4.1369| -0.6| 4/9
Communication Services | -4.6511| -0.5| 3/4
Consumer Staples | -7.7069| -1.1| 5/6
Industrials | -9.7727| -0.5| 14/14
Materials | -18.1337| -0.8| 27/24

US
By Rita Nazareth and Kamaron Leach
(Bloomberg) — Stocks were mixed as traders assessed prospects for fresh stimulus amid the most-intense negotiations since Election Day. The S&P 500 came off session lows, but closed down for a second day. The Nasdaq 100 climbed while the Dow Jones Industrial Average underperformed. Airbnb Inc. more than doubled in its trading debut. Treasuries gained after a strong 30-year bond auction dispelled concerns that this week’s debt sales could prove too large to be palatable for investors. The pound slid as U.K. Prime Minister Boris Johnson warned Britain should prepare to leave the European Union’s single market without a trade deal. The fate of an additional relief package remains unresolved as Democrats and Republicans continue to negotiate. If a deal isn’t reached by the end of 2020, millions of Americans could start the new year with lapsed unemployment benefits. A bipartisan group of lawmakers agreed on a needs-based formula to distribute their proposed state and local aid, according to an aide to one of the senators. But negotiations continue to be bogged down by differences over shielding employers from liability for Covid-19 infections. Earlier Thursday, Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi cited progress toward an agreement. “We’re just kind of waiting on a deal,” said Keith Gangl, a portfolio manager of Gradient Investments. “I wouldn’t expect the market to do a whole lot one way or the other going into year-end from here,” he noted, “especially if the stimulus package keeps getting pushed out.”
Elsewhere, the euro rose after policy makers escalated their efforts to shield the region from a possible double-dip recession with another burst of monetary stimulus, while cautioning that it may not use up all the new firepower.

These are some of the main moves in markets:
Stocks
* The S&P 500 fell 0.1% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index dipped 0.4%.
* The MSCI Asia Pacific Index lost 0.2%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%.
* The euro rose 0.4% to $1.213.
* The British pound decreased 0.8% to $1.3287.
* The Japanese yen was little changed at 104.25 per dollar.
Bonds
* The yield on 10-year Treasuries decreased two basis points to 0.92%.
* Germany’s 10-year yield rose less than one basis point to -0.60%.
* Britain’s 10-year yield dipped six basis points to 0.201%.
Commodities
* West Texas Intermediate crude jumped 2.9% to $46.86 a barrel.
* Gold fell 0.3% to $1,834.80 an ounce.
–With assistance from Jana Randow, Adam Haigh, Todd White, Yakob Peterseil, Lu Wang and Claire Ballentine.

Have a great night.

Be magnificent!

As ever,

Carolann

Someone once told me that every person has an element of good and an element of bad within him, and that either the good or the bad can be manifested according to the person’s mood.  We possess within us tow different ways of understanding this world.  One is the feeling of being divided, distanced, and alienated from each other;  in this state, all things seem gloomy to us.  We feel nothing except jealousy, indifference, and hatred.  I would like to call the opposite way of understanding the understanding of universal unification.  In this state, all people seem very close to us, and all are equal among themselves. 
This state, therefore, arouses compassion and love in us. -Arthur Schopenhauer, 1788-1860

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 Dec. 9, 2000, the United States Supreme Court voted, 5 to 4, to stop the vote counting in Florida, ending Vice President Al Gore’s presidential hopes. Go to article »

Buried Treasure: Last summer, a man found a hidden treasure chest in the Rocky Mountains that had tantalized fortune seekers for a decade. Now, the identity of the treasure
finder has been revealed. -The NY Times.

From Pac-Man’s bonus fruits to Mario’s magical mushrooms, read about the fascinating role depictions of food play in the video game industry.

The universe is a shade too bright. –Bloomberg.

​​​​​​​British Museum’s Portable Antiquities Scheme

More spare time leads to treasure:
A cache of gold coins from the reign of Henry VIII — uncovered while gardeners were weeding their yard in April — is among the more than 47,000 archaeological finds that have been reported in England and Wales this year.
The discoveries during lockdown gardening come as the British government plans to expand its definition of treasure so that more rare objects — not just ones made of gold or silver, or that were more than 300 years old — could be preserved in museums rather than sold to private collectors.
The backyard boom will most likely carry over to the 2021 garden season, which begins this month with the arrival of seed catalogs. After a chaotic spring in which sales spiked as much as 300 percent, sellers are assuring home gardeners that they are well-stocked. Margaret Roach, our garden expert, offered some tips for seed shopping.  Have a vibrant night.

The Colors of the Year:
The trend forecasters at Pantone scour the globe for months for the latest developments and translate them into a color they claim will be the dominant shade of the coming year. Classic Blue in 2020 wasn’t exactly up to snuff.
So in 2021, get ready for Ultimate Gray and Illuminating. Or, in normal-speak: the light at the end of the tunnel. This is only the second time in the 22 years that Pantone has been choosing a color of the year that two colors have been selected and the first time that a gray has earned the honor.
Together, a Pantone executive said, “the color combination presses us forward.”

PHOTOS OF THE DAY

A view of snowy gras hills during sunny weather at Schliffkopf at the Black Forest High Street near Achern, Germany.
CREDIT: RONALD WITTEK/EPA-EFE/SHUTTERSTOCK

River Frome at Wareham in Dorset.
CREDIT: STEVE HOGAN/PICUREEXCLUSIVE.COM

A woman takes a picture with her mobile phone of the Christmas lights and seasonal decoration illuminating deserted square in Pristina, Kosovo.
CREDIT: VALDRIN XHEMAJ/EPA-EFE/SHUTTERSTOCK

Market Closes for December 9^th, 2020 

Market Index	Close	Change
Dow Jones	30068.81	-105.07
		-0.35%
S&P 500	3672.48	-29.77
		-0.80%
NASDAQ	12338.953	-243.820 -1.94%
TSX	17575.77	-63.23
		-0.36%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26817.94	+350.86
		+1.33%
HANG SENG	26502.84	+198.28
		+0.75%
SENSEX	46103.50	+494.99
		+1.09%
FTSE 100*	6564.29	+5.47 +0.08%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.751	0.741
CND. 30 Year Bond	1.298	1.287
U.S.    10 Year Bond	0.9361	0.9212
U.S. 30 Year Bond	1.6837	1.6662

Currencies

BOC Close	Today	Previous
Canadian $	0.78013	0.78006
US $	1.28184	1.28195
Euro Rate 1 Euro=		Inverse
Canadian $	1.54878	0.64567
US $	1.20825	0.82765

Commodities

Gold	Close	Previous
London Gold Fix	1868.15	1859.95
Oil
WTI Crude Future	45.52	45.60

Market Commentary:
On this day in 1931, President Herbert Hoover proposed the creation of the Reconstruction Finance Corp. to provide federal funding to help creditworthy banks, railroads and other companies remain in business. The market viewed it as an act of desperation, and the Dow Jones Industrial Average sank another 2.7% to close at 84.14.

Canada
By Aoyon Ashraf
(Bloomberg) — Canadian shares fell on Wednesday, along with broader market, as a selloff in tech stocks put a stop to its six-day advance. The S&P/TSX Composite index fell -0.5% in Toronto. The underperformance in tech and health care stocks weighed on the benchmark. Meanwhile, consumer discretionary and staples stocks outperformed. The Bank of Canada stood pat on interest rates and reiterated its commitment to keep them at historic lows to support an economy buffeted by a second wave of Covid-19 cases.
Commodities
* Western Canada Select crude oil traded at a $12.20 discount to West Texas Intermediate
* Spot gold fell 1.7% to $1,838.76 an ounce
FX/Bonds
* The Canadian dollar was flat at C$1.2819 per U.S. dollar
* The 10-year government bond yield rose slightly to 0.752%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 0.4 percent at 17,559.86 in Toronto. The move was the biggest since falling 1.2 percent on Nov. 30 and follows the previous session’s increase of 0.3 percent. Shopify Inc. contributed the most to the index decline, decreasing 6.0 percent. Trillium Therapeutics Inc. had the largest drop, falling 12.5 percent. Today, 141 of 222 shares fell, while 78 rose; 6 of 11 sectors were lower, led by information technology stocks.
Insights
* This quarter, the index rose 8.9 percent
* This year, the index rose 2.9 percent, poised for the best year since 2019
* The index advanced 3.6 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 2.3 percent below its 52-week high on Feb. 20, 2020 and 57.2 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 1.2 percent in the past 5 days and rose 6.6 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 23.4 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 11.26 percent compared with 10.96 percent in the previous session and the average of 14.96 percent over the past month
================================================================
| Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | -70.5607| -4.0| 1/9
Materials | -42.1859| -1.7| 9/43
Health Care | -7.5638| -3.5| 0/10
Real Estate | -4.6108| -0.8| 3/23
Utilities | -3.6677| -0.4| 3/12
Energy | -3.1688| -0.2| 12/11
Consumer Discretionary | 7.8201| 1.2| 9/4
Consumer Staples | 7.9014| 1.1| 9/2
Communication Services | 9.7250| 1.1| 6/1
Industrials | 9.8559| 0.5| 14/13
Financials | 17.3185| 0.3| 12/13

US
By Rita Nazareth and Claire Ballentine
(Bloomberg) — A selloff in some of the world’s biggest technology companies weighed heavily on the equity market, dragging down stocks amid dimming prospects for fresh stimulus. The S&P 500 slid from a record, while the Nasdaq 100 had its biggest slump in a month. Facebook Inc. sank after being sued by U.S. antitrust officials, while Tesla Inc. tumbled as JPMorgan Chase & Co. called it “dramatically” overvalued. Zoom Video Communications Inc., one of the biggest stay-at-home winners, plunged after an analyst downgrade. The Russell 2000 index of smaller companies was down half as much as the tech- heavy gauge. DoorDash Inc. defied the market weakness – almost doubling in its debut — before Airbnb Inc.’s initial public offering.
Stocks took a nosedive Wednesday as it became clear that a stimulus deal remains elusive amid the most-intense negotiations over a Covid-19 package since Election Day. The Democratic and Republican lawmakers working on a relief plan delivered a more detailed summary of their proposal, but haven’t yet resolved the deadlock over a business liability shield as well as aid to state and local governments. “To the extent they can’t come to an agreement on stimulus given the heightened urgency, given the recent outbreak, that’s a bad message,” said Mark Heppenstall, chief investment officer for Penn Mutual Asset Management. “I do think stimulus is coming and I think the market was more prepared for it to be this year than next year.
Elsewhere, the pound pared gains ahead of a meeting that could make or break a trade deal between the U.K. and the European Union. British Prime Minister Boris Johnson arrived in Brussels to talk with the head of the European Commission amid warnings from both sides that a Brexit trade deal may be impossible.
Here are some key events coming up:
* Thursday brings the European Central Bank policy decision and a press briefing from Christine Lagarde. Economists widely expect the central bank to increase and extend its pandemic bond-buying program.
* The FDA meets to discuss the vaccine made by Pfizer/BioNTech on Thursday.
* Jobless claims data are due in the U.S. on Thursday.

These are some of the main moves in markets:
Stocks
* The S&P 500 declined 0.8% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index advanced 0.3%.
* The MSCI Asia Pacific Index climbed 0.5%.
Currencies
* The Bloomberg Dollar Spot Index increased 0.1%.
* The euro fell 0.2% to $1.2076.
* The British pound gained 0.3% to $1.3393.
* The Japanese yen depreciated 0.1% to 104.24 per dollar.
Bonds
* The yield on 10-year Treasuries increased two basis points to 0.94%.
* Germany’s 10-year yield advanced less than one basis point to -0.61%.
* Britain’s 10-year yield climbed less than one basis point to 0.261%.
Commodities
* West Texas Intermediate crude fell 0.2% to $45.50 a barrel.
* Gold lost 2% to $1,833.30 an ounce.

–With assistance from Michael Msika, Adam Haigh, Todd White, Cecile Gutscher, Yakob Peterseil and Kamaron Leach.

Have a great night.

Be magnificent!
As ever,

Carolann

The noblest pleasure is the joy of understanding. -Leonardo Da Vinci, 1452-1519

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 Dec. 8, 1941, the United States entered World War II as Congress declared war against Japan one day after the attack on Pearl Harbor.  Go to article »

A French man has left money to 50 cats that live in Russia’s Hermitage Museum.  The epitome of life goals

Take a virtual trip to the waters of Lake Victoria, in Kenya, where fishermen attract fish, locally known as omena, with lanterns.

Looking for some historical fiction to transport you? Here are some of the year’s best offerings.

Photographer captures an octopus with a transparent head.

PHOTOS OF THE DAY

A fisherman balances precariously on the edge of his boat on Inle Lake, Myanmar, demonstrating a technique dating back to the 12th century.
CREDIT: ISTVAN KADAR/SOLENT NEWS 

A robin sitting on a rail in Finsbury Park, north London, UK, during foggy weather.
CREDIT: DINENDRA HARIA/LNP

Sunrise over the Wawel Royal Castle, in Krakow, south Poland.
CREDIT: LUKASZ GAGULSKI/PAP/AVALON

A stunning rainbow over Colmer’s Hill in Bridport by the Dorset coast, UK.
CREDIT: JAMES LOVERIDGE/BPNS

Market Closes for December 8^th, 2020 

Market Index	Close	Change
Dow Jones	30173.88	+104.09
		+0.35%
S&P 500	3702.25	+10.29
		+0.28%
NASDAQ	12582.773	+62.827 +0.50%
TSX	17639.00	+56.65
		+0.32%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	26467.08	-80.36
		-0.30%
HANG SENG	26304.56	-202.29
		-0.76%
SENSEX	45608.51	+181.54
		+0.40%
FTSE 100*	6558.82	+3.43 +0.05%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.741	0.764
CND. 30 Year Bond	1.287	1.309
U.S.    10 Year Bond	0.9212	0.9228
U.S. 30 Year Bond	1.6662	1.6796

Currencies

BOC Close	Today	Previous
Canadian $	0.78006	0.78105
US $	1.28195	1.28033
Euro Rate 1 Euro=		Inverse
Canadian $	1.55147	0.64455
US $	1.21024	0.82628

Commodities

Gold	Close	Previous
London Gold Fix	1859.95	1843.00
Oil
WTI Crude Future	45.60	45.76

Market Commentary:
On this day in 1941, as the news that the Japanese had bombed Pearl Harbor filtered through the market, the S&P 500 dropped 4.37%, one of its worst one-day declines.

Canada
By Aoyon Ashraf
(Bloomberg) — Canadian shares continued its rally on Tuesday, as broader equity markets rose on U.S. stimulus talks. The S&P/TSX Composite index rose 0.3% to 17,639, nearing its record close of 17,944, reached on Feb. 20. The advance was led by health care and tech stocks, while consumer discretionary companies underperformed. Meanwhile, the Bank of Canada is expected to keep its extremely accommodative policy intact on Wednesday, with an outside chance it will do even more to support the recovery. Economists predict the central bank will restate a pledge to hold its overnight interest rate at 0.25% until at least 2023, while continuing bond purchases at the current pace of C$4 billion ($3.1 billion) per week. The bank releases its December policy decision at 10 a.m. in Ottawa.
Commodities
* Western Canada Select crude oil traded at a $12.15 discount to West Texas Intermediate
* Spot gold rose 0.4% to $1,870.43 an ounce
FX/Bonds
* The Canadian dollar fell 0.2% to C$1.2822 per U.S. dollar
* The 10-year government bond yield fell 2 basis points to 0.742%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose for the sixth day, climbing 0.3 percent, or 56.65 to 17,639.00 in Toronto. The index advanced to the highest closing level since Feb. 21. Shopify Inc. contributed the most to the index gain, increasing 1.9 percent. Ballard Power Systems Inc. had the largest increase, rising 8.8 percent. Today, 105 of 222 shares rose, while 109 fell; 8 of 11 sectors were higher, led by information technology stocks.
Insights
* This quarter, the index rose 9.4 percent
* This year, the index rose 3.4 percent, poised for the best year since 2019
* The index advanced 3.8 percent in the past 52 weeks. The MSCI AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 1.8 percent below its 52-week high on  Feb. 20, 2020 and 57.9 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 2 percent in the past 5 days and rose 8.3 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 27 on a trailing basis and 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$2.7t
* 30-day price volatility fell to 10.96 percent compared with 14.51 percent in the previous session and the average of 15.13 percent over the past month
================================================================
|Index Points | | Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 18.1202| 1.0| 4/5
Financials | 17.6690| 0.3| 13/13
Industrials | 9.7028| 0.5| 14/13
Energy | 8.6031| 0.4| 16/7
Consumer Staples | 2.6899| 0.4| 7/4
Health Care | 2.2401| 1.0| 8/2
Communication Services | 2.0800| 0.2| 3/3
Utilities | 1.9484| 0.2| 9/5
Materials | -0.7942| 0.0| 17/33
Real Estate | -2.0066| -0.4| 9/17
Consumer Discretionary | -3.6120| -0.5| 5/7

US
By Rita Nazareth and Claire Ballentine
(Bloomberg) — Stocks rose to a record as stimulus talks tempered concern about tougher restrictions amid a surge in coronavirus cases. The S&P 500 closed at an all-time high after Senate Majority Leader Mitch McConnell suggested setting aside some issues that have been roadblocks to a relief package – a strategic retreat aimed at striking a deal. The Nasdaq 100 advanced for a 10th straight day, the longest rally in about a year. Pfizer Inc. jumped as U.S. regulators gave early indications they may grant emergency-use authorization to its vaccine. Tesla Inc. erased losses that were driven by plans to raise as much as $5 billion.
Time is running ever shorter on getting fresh stimulus, with lawmakers approaching the year-end break just as U.S. Covid-19 cases surpass 15 million. Democrats have opposed McConnell’s insistence on giving employers a shield from lawsuits, while he has been among Republicans blasting Democratic demands for assistance to state and local authorities as a bailout. The Kentucky Republican said both parties should focus on three areas where they agree help is needed: small business assistance, expanded unemployment insurance and funding for vaccine distribution and other anti-coronavirus efforts. “After months of inaction by leaders in Washington, the market is likely to respond well to any movement towards additional fiscal support,” said Adam Phillips, director of portfolio strategy at EP Wealth Advisors. “However, motion is not the same as action. If these discussions do not lead to results, we could see the market give up some of its recent gains.”A key sentiment indicator for U.S. stocks has reached its most bullish level in two decades. The weekly Cboe ratio of volume traded in puts versus calls fell to the lowest since July 2000 last week. This implies extreme positioning to the upside, as investors look beyond short-term uncertainty toward a continuing global recovery in 2021.
Elsewhere, the pound pared declines after the U.K. dropped controversial parts of an internal bill that would have given it the power to unilaterally override the Brexit divorce treaty. Prime Minister Boris Johnson will hold crisis talks with European Commission President Ursula von der Leyen Wednesday evening as the two sides try to salvage a trade deal by the end of the year.
Here are some key events coming up:
* Thursday brings the European Central Bank policy decision and a press briefing from Christine Lagarde. Economists widely expect the central bank to increase and extend its pandemic bond-buying program.
* The U.S. Food and Drug Administration meets to discuss the vaccine made by Pfizer/BioNTech on Thursday. If the FDA authorizes emergency use, Health & Human Services Secretary Alex Azar said vaccine distribution could begin within 24 hours.

These are some of the main moves in markets:
Stocks
* The S&P 500 increased 0.3% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index climbed 0.2%.
* The MSCI Asia Pacific Index fell 0.1%.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro was little changed at $1.2106.
* The British pound declined 0.2% to $1.3351.
* The Japanese yen weakened 0.1% to 104.16 per dollar.
Bonds
* The yield on 10-year Treasuries fell less than one basis point to 0.92%.
* Germany’s 10-year yield decreased three basis points to -0.61%.
* Britain’s 10-year yield dipped three basis points to 0.257%.
Commodities
* West Texas Intermediate crude fell 0.2% to $45.66 a barrel.
* Gold rose 0.5% to $1,871.25 an ounce.
–With assistance from David Finnerty, Andreea Papuc, Yakob Peterseil, Lynn Thomasson, Jan-Patrick Barnert and Kamaron Leach.

Have a great night.

Be magnificent.

As ever,

Carolann

Excellence is not an act but a habit. -Aristotle, 384 BC-322 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