Category: Events

Dear Friends,

Tangents:
On Feb. 6, 1952, Britain’s King George VI died; he was succeeded by his daughter, Elizabeth II. Go to article »
The statement came from Sandringham at 10:45 a.m. “The King, who retired to rest last night in his usual health, passed peacefully away in his sleep early this morning.” Newspapers at the time reported it as a shock. King George VI, after all, had been out on a shoot the day before. But there was no use denying, or dwelling, on the matter. By 5:00 p.m., a privy council had gathered at St. James’s Palace in London. They signed a statement, which ended, “[We] do now hereby with one Voice and Consent of Tongue and Heart publish and proclaim that the High and Mighty Princess Elizabeth Alexandra Mary is now by the death of our late sovereign of happy memory become Queen Elizabeth the Second by the grace of God.”
PHOTOS OF THE DAY

A meteor enters the earth’s atmosphere over the snowy hills of the Elan Valley in Wales while ethereal green ‘airglow’ spreads across the sky. Credit: Sean Weekly/SWNS.COM

A surfer waits for a wave off Tynemouth beach in North Tyneside as the sun rises. Credit: Owen Humphreys/PA

A hot air balloon makes his way above Zell am See, Austria. Credit: Matthias Schrader/AP
Market Closes for February 6^th, 2019

Market Index	Close	Change
Dow Jones	25390.30	-21.22   -0.08%
S&P 500	2731.61	-6.09   -0.22%
NASDAQ	7375.281	-26.803   -0.36%
TSX	15712.31	+9.62
		+0.06%

International Markets

Market Index	Close	Change
NIKKEI	20874.06	+29.61
		+0.14%
HANG SENG	27990.21	+59.47
		+0.21%
SENSEX	36975.23	+358.42
		+0.98%
FTSE 100*	7173.09	-4.28
		-0.06%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.925		1.939
CND. 30 Year Bond		2.176		2.180
U.S.    10 Year Bond		2.6946		2.7019
U.S. 30 Year Bond		3.0329		3.0345

Currencies

BOC Close	Today	Previous
Canadian $	0.75661	0.76158
US $	1.32169	1.31305
Euro Rate 1 Euro=		Inverse
Canadian $	1.50250	0.66556
US $	1.13680	0.87996

Commodities

Gold	Close	Previous
London Gold Fix	1314.20	1312.15
Oil
WTI Crude Future	54.01	53.66

Market Commentary:
On this day in 1808, the Milan Stock Exchange Borsa Valori di Milano (now called Borsa Italiana) was established. Borsa Italiana mergedwith the London Stock Exchange Group in 2007.
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite advanced slightly to 15,712.31 in Toronto. Intact Financial Corp. contributed the most to the index gain, increasing 3.7 percent. ATS Automation Tooling Systems Inc. had the largest increase, rising 17.3 percent.
Today, 133 of 239 shares rose, while 100 fell.
================================================================
Top Contributors |Index Points Move| % Change
================================================================
Intact Financial | 3.8170| 3.7
Manulife Financial | 3.2510| 1.1
TD Bank | 3.1350| 0.3
Canopy Growth | -3.6600| -3.7
Canadian National | -4.4600| -0.8
Canadian Natural Resources | -4.5530| -1.5
================================================================
Biggest Gainers | % Change |Index Points Move
================================================================
ATS | 17.3| 1.5210
Ivanhoe Mines | 13.1| 1.4500
Chemtrade Logistics | 6.5| 0.4620
================================================================
Biggest Losers | % Change | Index Points Move
================================================================
Cronos Group | -9.7| -3.3140
Aphria | -9.0| -1.9430
Eldorado Gold | -5.7| -0.3510
* The benchmark 10-year bond rose and the yield fell 1.5 basis points to 1.924 percent
US
By Jeremy Herron and Sarah Ponczek
     (Bloomberg) — U.S. stocks fell in thin trading as investors weighed corporate earnings against persistent concerns over trade and another government shutdown. The dollar extended its rally to a fifth day.
     The S&P 500 declined for the first time in six sessions with volumes below the 30-day average. President Donald Trump’s speech to Congress did little to remove trade and shutdown concerns, putting the focus on earnings-related moves. The Nasdaq composite slid along with Alphabet, while Electronic Arts and Take Two plunged after disappointing numbers. Microchip Technology’s call for a bottom in the chip cycle boosted semiconductor makers.
     Investors remained on edge with the deadline for Congress to reach a deal on keeping the government open fast approaching with little sign of compromise. There are also looming meetings in Beijing next week between U.S. trade representatives and their Chinese counterparts.
     “We’ve had a big rally and we’ve got a show me market now,” said Alec Young, managing director of global markets research at FTSE Russell. “China trade is the key thing that’s going to get people to look at this earnings data as glass half full or half empty.”
     In other moves, iron ore surged to near a two-year high after Vale raised worries of a global shortfall. Crude bounced back above $53 a barrel in New York. Bloomberg’s dollar index headed for its best run in more than two weeks. The 10-year Treasury yield fell.
     European stocks edged higher, capping a seventh day rising as technology stocks rallied on some upbeat company reports. Carmakers were among the laggards after Daimler AG’s cautious tone reignited concern about global trade. Bonds across the region were range bound, though Italian notes slipped as the country sold new debt. Iron ore rallied toward $90 a metric ton after Brazil’s Vale SA declared force majeure on some contracts, raising the prospect of a deficit of the commodity this year.
     Global equities are close to levels not seen since November, in part spurred by the Federal Reserve’s tilt toward a neutral policy stance. Further clues on what 2019 holds may come Wednesday from Chairman Jerome Powell’s first public comments following the January meeting and interest-rate decision.
Among key events in the coming days:
* Markets are closed in China, Hong Kong, Korea, Malaysia, Singapore, Taiwan and also in New Zealand
* Earnings season continues, with reports from Twitter, MetLife and Societe Generale
* Central banks in India and the U.K. set rates this week
These are the main moves in markets:
Stocks
* The S&P 500 fell 0.2 percent as of 4 p.m. in New York.
* The Nasdaq 100 lost 0.4 percent and the Dow Jones Industrial Average declined 0.1 percent.
* The Stoxx Europe 600 Index increased 0.2 percent.
* The MSCI All-Country World Index fell 0.3 percent, the first retreat in more than a week.
* The MSCI Emerging Market Index lost 0.4 percent.
Currencies
* The Bloomberg Dollar Spot Index increased 0.4 percent, reaching the highest in almost two weeks on its fifth straight advance.
* The euro decreased 0.4 percent to $1.1365, the weakest in almost two weeks.
* The British pound gained 0.1 percent to $1.2938, the first advance in a week.
* The Japanese yen was little changed at 109.97 per dollar.
Bonds
* The yield on 10-year Treasuries was steady at 2.69 percent.
* Germany’s 10-year yield declined less than one basis point to 0.17 percent.
* Britain’s 10-year yield decreased one basis point to 1.224 percent.
* Japan’s 10-year yield fell less than one basis point to -0.013 percent, the lowest in more than a month.
Commodities
* West Texas Intermediate crude rose 0.6 percent to $53.99 a barrel.
* Gold declined 0.7 percent to $1,310.50 an ounce.
–With assistance from Cormac Mullen and Robert Brand.

Have a great night.

Be magnificent!

As ever,

 

Carolann

 

The foolish man seeks happiness in the distance; the wise grows it under his feet.
                                                                   -James Oppenheim, 1882-1932

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:  Year of the Pig begins today.

The Pig is the twelfth of the 12-year cycle of animals which appear in the Chinese zodiac related to the Chinese calendar. In the continuous sexagenary cycle of sixty years, every twelfth year corresponds to hai, ?; this re-recurring twelfth year is commonly called the Year of the Pig. Wikipedia

February 5, 1973 – Architecture – Work begins on the construction of the CN Tower. Toronto, Ontario  Go to article »

PHOTOS OF THE DAY

Shoppers walk through the Lunar New year fair at Victoria Park at night in Hong, China. Hong Kong celebrates the Lunar New Year holiday on Feb. 5 – 7 this year. Credit: Paul Yeung/Bloomberg

A red squirrel proves that even heavy snowfall won’t stop her getting to some food as she leaps through the air grab a snack, in woodland on the outskirts of Inverness, Scotland, UK. Credit: Gary Bruce/Triangle News

Indian Hindu devotees taking a holy dip at Sangam at the confluence of the Ganges, Yamuna and mythical Saraswati rivers during the auspicious bathing day of ‘Mauni Amavasya’ at the Kumbh Mela in Allahabad. State authorities in Uttar Pradesh are expecting 12 million visitors to descend on Allahabad for the centuries-old festival, which officially begins on January 15 and continues until early March. Credit: Handout/AFP/Getty Images
Market Closes for February 5^th, 2019

Market Index	Close	Change
Dow Jones	25411.52	+172.15   +0.68%
S&P 500	2737.70	+12.83   +0.47%
NASDAQ	7402.086	+54.550   +0.74%
TSX	15702.69	+100.37
		+0.64%

International Markets

Market Index	Close	Change
NIKKEI	20844.45	-39.32
		-0.19%
HANG SENG	27990.21	+59.47
		+0.21%
SENSEX	36616.81	+34.07
		+0.09%
FTSE 100*	7177.37	+143.24
		+2.04%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.939		1.961
CND. 30 Year Bond		2.180		2.198
U.S.    10 Year Bond		2.7019		2.7253
U.S. 30 Year Bond		3.0345		3.0576

Currencies

BOC Close	Today	Previous
Canadian $	0.76158	0.76258
US $	1.31305	1.31134
Euro Rate 1 Euro=		Inverse
Canadian $	1.49745	0.66780
US $	1.14047	0.87683

Commodities

Gold	Close	Previous
London Gold Fix	1312.15	1318.70
Oil
WTI Crude Future	53.66	54.56

Market Commentary:
On this day in 1637, “Tulip mania” hit its peak in the Netherlands, with the price of the rare Witte Croonen tulip bulb reaching 1,345 guilders per half-pound, up 2,506% in 33 days. Over the next five years, these bulbs lost an annual average of 76% of their value, until they fetched only 37.5 guilders in 1641.
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.6 percent, or 100.37 to 15,702.69 in Toronto.
     The move was the biggest since rising 0.7 percent on Jan. 17. Royal Bank of Canada contributed the most to the index gain, increasing 0.7 percent. Eldorado Gold Corp. had the largest increase, rising 5.6 percent. Today, 178 of 239 shares rose, while 55 fell.
================================================================
Top Contributors |Index Points Move| % Change
================================================================
Royal Bank of Canada | 6.7740| 0.7
Enbridge Inc | 5.3250| 0.8
Canadian National | 5.1350| 0.9
Encana | -1.7640| -2.8
Cronos Group | -2.2370| -6.1
Canopy Growth | -2.3680| -2.4
================================================================
Biggest Gainers | % Change |Index Points Move
================================================================
Eldorado Gold | 5.6| 0.3280
NexGen Energy | 4.6| 0.2470
Alacer Gold | 4.2| 0.2720
================================================================
Biggest Losers | % Change | Index Points Move
================================================================
Cronos Group | -6.1| -2.2370
Home Capital Group | -3.2| -0.2300
Ensign Energy Services | -3.0| -0.1280
* The benchmark 10-year bond rose and the yield fell 2.5 basis points to 1.937 percent
* The S&P 500 Index advanced 0.5 percent
Related News headlines:
* Alacer Gold 2018 Full Year Gold Production ~171,000 Ounces
* Cronos, Dream Industrial, Minco Silver: Canada Pre-Market
* Home Capital May See ’20 EPS Hit of About 4% on Buffer, NBF Says
* Canadian Pot ETF Retakes Billion-Dollar Mark as Stocks Surge
* U.S. Stocks Climb With Treasuries, Crude Oil Drops
Markets Wrap
US
By Jeremy Herron and Sarah Ponczek
     (Bloomberg) — U.S. stocks rose for a fifth day in muted trading as gains in technology shares outweighed a slump in financials sparked by falling Treasury yields. Crude fell below $54 a barrel.
     The S&P 500 tied it longest rally of the year, with most major groups advancing, led by large-cap tech shares. Trading volume was 15 percent below the 30-day average. The measure twice rose to within a whisker of its 200-day moving average, a level it last topped in December, only to fall back. Earnings and economic data were mixed, giving investors little to trade on ahead of tonight’s address to the nation from President Donald Trump.
     The relative calm in markets belies an undercurrent of uncertainty as trade talks between the U.S. and China remain unresolved and America lurches toward another government shutdown. Investors will be watching the State of the Union address later for any more signs of political rancor or clues on the outlook for foreign trade.
     The Stoxx Europe 600 Index capped a sixth advance in a row despite growth warnings from two chipmakers. Euro area PMIs were revised upward, helping boost sentiment further, but the common currency struggled as disappointing data from Italy hung over the region, while sterling fell following a weak services report.
     In Asia, many markets were shuttered for the Lunar New Year holidays. Australian shares jumped the most in more than two years, powered by financial stocks following the results of a yearlong inquiry into misconduct in the industry. Japanese equities nudged higher.
     Elsewhere, West Texas oil turned lower as traders weighed output cuts from the OPEC producer group and its partners against expectations for rising U.S. crude inventories.
     Emerging-market shares and currencies drifted. Pemex bonds jumped after Mexico’s president said he’ll announce extraordinary measures to support the oil firm.
Among key events in the coming days:
* Asian markets closed Tuesday: China, Hong Kong, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan, Pakistan
* Earnings season continues, with reports this week from Twitter, Hasbro, Ryanair, Disney, Philip Morris, BNP Paribas, ING, MetLife, Societe Generale
* Trump delivers a delayed State of the Union address Tuesday
* On Wednesday, Federal Reserve Chairman Jerome Powell gives his first public comments following the January FOMC meeting and rate decision.
* Central banks in India and the U.K. set rates this week
These are the main moves in markets:
Stocks
* The S&P 500 Index gained 0.5 percent to a two-month high as of 4 p.m. New York.
* The Nasdaq 100 Index was higher by 0.9 percent while bank shares slumped almost 0.2 percent.
* The Stoxx Europe 600 Index rose 1.4 percent, reaching the highest in 12 weeks on its sixth consecutive advance.
* The MSCI Asia Pacific Index rose 0.4 percent to the highest in almost four months.
* The MSCI Emerging Market Index increased 0.4 percent.
Currencies
* The Bloomberg Dollar Spot Index added 0.1 percent.
* The euro fell 0.2 percent to $1.413, the weakest in more than a week.
* The British pound decreased 0.6 percent to $1.2955.
* The Japanese yen was flat at 109.951 per dollar.
Bonds
* The yield on 10-year Treasuries dipped two basis points to 2.70 percent.
* Germany’s 10-year yield fell one basis point to 0.17 percent.
* Britain’s 10-year yield declined five basis points to 1.232 percent.
Commodities
* Gold futures were flat near $1,319 an ounce.
* West Texas Intermediate crude declined 1.6 percent to $53.67 a barrel.
–With assistance from Samuel Potter.

Have a great night.

Be magnificent!

As ever,

 

Carolann

 

A mind always employed is always happy.  This is the true secret,
the grand recipe, for felicity.
                    -Thomas Jefferson, 1743-1826

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:  Today is Facebook’s fifteenth birthday.
The social networking website Facebook was launched. Go to article »

1985 – Torture abolished by the UN.
1948 – Independence Day Sri Lanka

Winterlude, Ottawa, February 1-18.

Charles Lindbergh, aviator, b. 1902
I realized that if I had to choose, I would rather have birds than airplanes. -Charles Lindbergh.
PHOTOS OF THE DAY

Participants compete during the ‘Credit Suisse GP of Celerina’ skijoring race on the first weekend of the ‘White Turf’ races in St. Moritz, Switzerland. Credit: Giancarlo Cattaneo/Keystone Via AP

An archeologist works on a mummy inside the newly excavated tombs in Tuna-el-Gebel necropolis of Minya province south of the capital Cairo, Egypt. The Egyptian minister of antiques announces on Saturday the discovery of three ancient tombs with more than 40 well-preserved mummies in Tuna-el-Gebel necropolis of Minya province south of the capital Cairo. Credit: Xinhua/Ahmed Gomaa

Jogger and pet dog enjoy a sunny start to the day in Longrock, Cornwall. Credit: Simon Maycock/Alamy Live News
Market Closes for February 4^th, 2019

Market Index	Close	Change
Dow Jones	25239.37	+175.48   +0.70%
S&P 500	2724.86	+18.33   +0.68%
NASDAQ	7347.535	+83.667   +1.15%
TSX	15595.07	+88.77
		+0.57%

International Markets

 

Market Index	Close	Change
NIKKEI	20883.77	+95.38
		+0.46%
HANG SENG	27990.21	+59.47
		+0.21%
SENSEX	36582.74	+113.31
		+0.31%
FTSE 100*	7034.13	+13.91
		+0.20%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.961		1.958
CND. 30 Year Bond		2.198		2.184
U.S.    10 Year Bond		2.7253		2.6842
U.S. 30 Year Bond		3.0576		3.0261

Currencies

BOC Close	Today	Previous
Canadian $	0.76258	0.76328
US $	1.31134	1.31014
Euro Rate 1 Euro=		Inverse
Canadian $	1.49980	0.66676
US $	1.14366	0.87438

Commodities

Gold	Close	Previous
London Gold Fix	1318.70	1323.25
Oil
WTI Crude Future	54.56	55.26

Market Commentary:
On this day in 1994, without any warning, and just as investors were pouring billions of dollars into bonds, the Federal Reserve raised short-term interest rates for the first time in five years. By year-end, the Fed had hiked short-term rates by 2.5 percentage points—and Treasury bonds lost 7.8%, their worst return since 1967.
Canada
By Michael Bellusci
     (Bloomberg) — Canadian stocks climbed as marijuana stocks pushed the index higher, marking the fourth straight day of gains for the sector. The Canadian benchmark rose 0.6 percent led by health care and information technology while industrials underperformed.
     The Horizons Marijuana Life Sciences Index ETF gained 4.9 percent for a fourth session, reaching its highest intraday since early November, as the World Health Organization recommended last week that cannabis international regulations be loosened. 
Stocks
* Radient Technologies Inc. gained 42 percent after receiving its Standard Processing License from Health Canada under the new Cannabis Act regulations 
* High Tide Inc. rose 24.3 percent after plans to expand into Ontario with cannabis retail lottery winner 
* Village Farms International Inc. rose 16.1 percent 
* Namaste Technologies Inc. fell 14.5 percent after launching a strategic review, CEO departure 
* Westport Fuel Systems Inc. lost 14 percent after CFO resigned
Commodities
* Western Canada Select crude oil traded at a $10.25 discount to WTI
* Gold fell 0.4 percent to $1,312.17 an ounce
FX/Bonds
* The Canadian dollar fell 0.1 percent to C$1.3121 per U.S. dollar
* The Canada 10-year government bond yield rose to 1.962%
US
By Sarah Ponczek and Reade Pickert
     (Bloomberg) — U.S. stocks rose for a fourth day, with technology shares leading the advance in thin trading ahead of a fresh batch of earnings reports. The dollar advanced on rising prospects for a trade truce.
     The S&P 500 closed at the highest since Dec. 3 in volume 20 percent below the 30-day average. Nvidia, Adobe, Microsoft and Apple led the Nasdaq indexes to solid advances. Alphabet reports earnings after the closing bell.
     President Donald Trump over the weekend told CBS that trade talks with Beijing are “doing very well” and sounded confident an agreement with North Korea was on the horizon. European equities eked out a fifth gain for the longest rally since November. In Asia, trading was subdued as much of the region headed into Lunar New Year holidays.
     “The S&P 500 was priced for perfection in the economy, earnings and the Fed, and while we’ve seen a lot of positive improvement, we’re a long way from that right now,” Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” market newsletter, wrote to clients.
     After a busy few days that included relatively dovish Federal Reserve comments and U.S.-China trade talks in Washington, there were a notable lack of drivers for markets on Monday, particularly in Asia, where China is off and other markets will be shut for days. Investors may again look for direction from a corporate earnings season that’s been mixed so far.
     Elsewhere, Venezuela’s defaulted 2027 bonds fell as Spain, Germany and the U.K. led a host of European countries in recognizing National Assembly leader Juan Guaido as the country’s interim president on Monday. The country’s outlook is being followed by oil traders given the country’s share of global exports. Emerging-market currencies and shares fell.
Among key events in the coming days:
* Earnings season continues, with reports this week from Twitter, Hasbro, Ryanair, Disney, Philip Morris, SoftBank, BNP Paribas, ING, MetLife, Societe Generale
* Trump delivers a delayed State of the Union address Tuesday
* On Wednesday, Federal Reserve Chairman Jerome Powell gives his first public comments following the January FOMC meeting and rate decision. 
* Central banks in Australia, India and the U.K. set rates this week
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.6 percent as of 4 p.m. New York time, while the Nasdaq Composite Index added 1.1 percent and the Dow Jones Industrial Average gained 0.4 percent.
* The Stoxx Europe 600 rose 0.1 percent.
* The MSCI Emerging Market Index eased 0.3 percent, the first drop in five days.
Currencies
* The Bloomberg Dollar Spot Index gained 0.3 percent, the third straight daily increase.
* The euro eased 0.2 percent to $1.1436.
* The British pound fell 0.1 percent to $1.3089.
* The Japanese yen weakened 0.5 percent to 110.06 per dollar.
Bonds
* The yield on 10-year Treasuries climbed four basis points to 2.72 percent.
* Germany’s 10-year yield rose one basis point to 0.17 percent.
* Britain’s 10-year yield rose two basis points to 1.27 percent.
Commodities
* West Texas Intermediate fell 0.9 percent to $54.79 a barrel.
* Gold fell 0.4 percent to $1,312 an ounce.
–With assistance from David Wilson and Eddie van der Walt.

Have a great evening.

Be magnificent!

As ever,

Carolann

Predicting rain doesn’t count.  Building arks does.
                                    -Warren Buffet, b. 1930

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

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

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

Dear Friends,

Tangents: Happy Friday!

February is black history month.
On Feb. 1, 1960, four black college students began a sit-in protest at a lunch counter in Greensboro, N.C., where they’d been refused service. Go to article »
Tomorrow is Groundhog Day.

Investors Eye Super Bowl-Based Market Predictor
By William Power, News Editor, WSJ

The Rams are bulls on Sunday, as far as the possible impact on the stock market./PHOTO: Scott Cunningham/Getty Images

Bullish investors who look at an unscientific but popular indicator will be rooting for the Los Angeles Rams on Sunday when they face the New England Patriots in the Super Bowl.
The Super Bowl Predictor—popularized by market analyst Robert H. Stovall— foretells the stock market for the full year based on who wins the big game in February.
The quirky indicator, which has even been studied by academics, goes like this: Stocks go up for the calendar year if an original National Football League team (like the Rams) wins, but down if the winner is from the old American Football League (like the Patriots). Teams added after the two leagues’ long-ago merger count for either the National or American side depending on which of today’s two conferences they play in.
But after a strong run of success, the Predictor has misfired for three straight years. It now has been accurate after 40 of the 52 Super Bowls, or a 77% rate.
That’s better than most of the scientific indicators that Wall Street uses, but still…
It didn’t work for 2018 because the Philadelphia Eagles’ win incorrectly predicted that the stock market would rise in 2018. It looked good for a while but was ultimately a fumble. Not even a replay challenge can change that market result.
The Eagles have now been to three Super Bowls in their history: 1981, 2005 and 2018. The first two times, they lost, and the Dow fell, so the Predictor worked. But last year, the market didn’t follow the Eagles’ winning lead.
If New England wins its second Super Bowl in three years, bulls will be hoping for a repeat of 2017, when the Predictor failed and stocks surged following a Patriots victory. -bill.power@wsj.com
PHOTOS OF THE DAY

People walk under decorative lanterns ahead of the Chinese New Year in Yangon’s Chinatown district, Myanmar. Credit: Ye Aung Thu/AFP/Getty Images

Redzone.bet cheerleaders perform in from on anti-Brexit demonstrators outside the Houses of Parliament, London, ahead of the Superbowl between the Los Angeles Rams and the New England Patriots on Sunday. Credit: Victoria Jones/PA Wire

This picture taken on January 31, 2019 shows a hot air balloon flying over the southern Egyptian city of Luxor, about 650 kilometres (400 miles) south of the capital Cairo. Credit: Mohamed El-Shahed/AFP/Getty Images
Market Closes for February 1^st, 2019

Market Index	Close	Change
Dow Jones	25063.89	+64.22   +0.26%
S&P 500	2706.53	+2.43   +0.09%
NASDAQ	7263.867	-17.870   -0.25%
TSX	15506.31	-34.29
		-0.22%

International Markets

Market Index	Close	Change
NIKKEI	20788.39	+14.90
		+0.07%
HANG SENG	27930.74	-11.73
		-0.04%
SENSEX	36469.43	+212.74
		+0.59%
FTSE 100*	7020.22	+51.37
		+0.74%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.958		1.879
CND. 30 Year Bond		2.184		2.138
U.S.    10 Year Bond		2.6842		2.6293
U.S. 30 Year Bond		3.0261		2.9956

Currencies

BOC Close	Today	Previous
Canadian $	0.76328	0.76163
US $	1.31014	1.31298
Euro Rate 1 Euro=		Inverse
Canadian $	1.50099	0.66622
US $	1.14568	0.87285

Commodities

Gold	Close	Previous
London Gold Fix	1323.25	1310.70
Oil
WTI Crude Future	55.26	53.79

Market Commentary:
The Dow industrials and the S&P 500 have both climbed 15% since Dec. 24, their largest such percentage gain between the trading day before Christmas and the end of January since 1975, according to Dow Jones Market Data.
On this day in 1869, the New York Stock Exchange required listed companies to register their securities to prevent “watered stock,” or the manipulated over-issuance of shares by insiders.
Canada
By Aoyon Ashraf
     (Bloomberg) — Canadian stocks fell, snapping a six-day winning streak, while U.S. stocks were mixed as traders weighed a better-than-expected job report with unclear progress in China trade talks and a disappointing sales forecast from Amazon.
     The Canadian benchmark fell about 0.2 percent on the first trading day of February. Materials were the worst performing stocks while pot company shares were the best.
     Canada’s economy contracted for the second time in three months on lower energy production, the clearest evidence yet of a soft patch that’s expected to linger through the first part of this year. Gross domestic product declined 0.1 percent in November, Statistics Canada said Thursday from Ottawa, matching the median forecast in a Bloomberg survey of economists.
Stocks
* Aphria rose 10 percent after short-seller Citron bailed out after Aphria rally, bet against Cronos shares, which rose 6.1 percent
* Eldorado extends rally as stock gets three upgrades and one downgrade after suspending construction of Kisladag mill project.
* Open Text Corp. climbed 4.2 percent after reporting a second quarter adjusted EPS that beat the highest estimate 
* Celestica Inc. plunged as much as 19 percent after updating guidance and getting a downgrade from Macquarie
* Teck Resources fell 3.9 percent after company said 4Q results will be “significantly below” consensus estimates
Commodities
* Western Canada Select crude oil traded at a $11 discount to WTI
* Gold fell about 0.3 percent to $1,317.93 an ounce
FX/Bonds
* The Canadian dollar rose about 0.3 percent to C$1.3089 per U.S. dollar
* The Canada 10-year government bond yield rose to 1.959%
US
By Sarah Ponczek and Reade Pickert
     (Bloomberg) — U.S. stocks eked out a small gain as a better-than-expected jobs report and signs of progress in trade talks overshadowed a disappointing sales forecast from Amazon.
     The S&P 500 Index rose less than 0.1 percent, extending a weekly advance to 1.6 percent. Tech-heavy gauges slumped as Amazon capped a 20 percent drop from its September high. Energy companies were the best performers as oil rose to the strongest in more than two months and data showed nonfarm payrolls increased by 304,000 last month, the most in almost a year. The dollar was steady and U.S. Treasury yields rose.
     After U.S. stocks posted their best month in three years in January on the back of dovish Federal Reserve comments, traders are keeping a careful watch on earnings season for signals about the outlook for growth. China promised to boost purchases of U.S. goods after the latest round of trade talks, and both sides planned further discussions.
     “Having strong data back up the view that the economy is on a strong footing is good, but still there’s some lingering uncertainties out there, particularly with global trade,” said Charlie Ripley, a senior investment strategist for Allianz Investment Management.
     Oil climbed past $55 a barrel in New York, reaching the highest since November, amid falling OPEC production and speculation that a robust economy will fuel demand.
     Elsewhere, European equities climbed. The pound weakened as data showed U.K. manufacturing fell to a three-month low in January. Asian stocks headed for a fourth consecutive weekly advance.
Among key events in the coming days:
* The coming week will see central banks reviewing monetary policy, including the Bank of England, in Australia, Brazil, Mexico, Russia, Serbia, Philippines, Thailand and India. 
* Earnings season rolls on with notable releases from Alphabet, Toyota, BP and Disney.
* Chinese financial markets will close next week for the Lunar New Year holiday.
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.1 percent at the close of trading in New York.
* The Stoxx Europe 600 Index rose 0.3 percent.
* The MSCI Emerging Market Index was little changed.
Currencies
* The Bloomberg Dollar Spot Index rose 0.1 percent.
* The euro increased 0.1 percent to $1.146.
* The British pound declined 0.2 percent to $1.3082.
* The Japanese yen fell 0.6 percent to 109.5 per dollar.
Bonds
* The yield on 10-year Treasuries rose six basis points to 2.69 percent.
* Germany’s 10-year yield climbed two basis points to 0.16 percent.
* Britain’s 10-year yield rose three basis points to 1.24 percent.
* Italy’s 10-year yield jumped 16 basis points to 2.74 percent.
Commodities
* West Texas Intermediate crude rose 2.9 percent to $55.33 a barrel.
* Gold fell 0.2 percent to $1,319.07 an ounce.
–With assistance from Adam Haigh, Yakob Peterseil, Eddie van der Walt, Samuel Potter and Sophie Caronello.

Have a wonderful weekend.

Be magnificent!

As ever,

 

Carolann

 

Mistakes are the portals of discovery.
             -James Joyce, 1882-1916

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

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

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

Dear Friends,

Tangents:
On Jan. 31, 1865, the House of Representatives passed a constitutional amendment to abolish slavery.
Go to article »

1940: First social security cheque issued.

PHOTOS OF THE DAY

The sun rises as waves crash against the sea wall in Seaburn, Sunderland. Credit: John Alderson/Pictureexclusive.com

Blenheim Palace is embracing new technology by trying out a new robotic tour guide. ‘Betty’ will be interacting with visitors at the Oxfordshire UNESCO World Heritage Site as part of a five-day trial this week. The robot is greeting visitors in the Great Hall and providing snippets of information about the palace and its history, as well as taking photos with the public and uploading them to social media. Credit: BNPS

Stadium stewards display a portrait of Argentinian forward Emiliano Sala, whose plane disappeared over the Channel Islands over a week prior, in the middle of the pitch before the French football match between Nantes and Saint Etienne at the La Beaujoire stadium in Nantes, western France. Credit: Sebastian Salom Gomis/AFP/Getty Images
Market Closes for January 31^st, 2019

Market Index	Close	Change
Dow Jones	24999.67	-15.19   -0.06%
S&P 500	2704.10	+23.05   +0.86%
NASDAQ	7281.738	+98.658   +1.37%
TSX	15540.60	+56.05
		+0.36%

International Markets

Market Index	Close	Change
NIKKEI	20773.49	+216.95
		+1.06%
HANG SENG	27942.47	+299.62
		+1.08%
SENSEX	36256.69	+665.44
		+1.87%
FTSE 100*	6968.85	+27.22
		+0.39%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.879		1.914
CND. 30 Year Bond		2.138		2.162
U.S.    10 Year Bond		2.6293		2.6775
U.S. 30 Year Bond		2.9956		3.0315

Currencies

BOC Close	Today	Previous
Canadian $	0.76163	0.76079
US $	1.31298	1.31443
Euro Rate 1 Euro=		Inverse
Canadian $	1.50288	0.66539
US $	1.14463	0.87364

Commodities

Gold	Close	Previous
London Gold Fix	1310.70	1307.55
Oil
WTI Crude Future	53.79	54.23

Market Commentary:
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite rose for the sixth day, climbing 0.4 percent, or 56.05 to 15,540.60 in Toronto. The index advanced to the highest closing level since Oct. 16.
     Barrick Gold Corp. contributed the most to the index gain, increasing 2.5 percent. Eldorado Gold Corp. had the largest increase, rising 27.5 percent.
Today, 150 of 239 shares rose, while 86 fell.
================================================================
Top Contributors |Index Points Move| % Change
================================================================
Barrick Gold | 5.2130| 2.5
Shopify | 5.0930| 3.5
First Quantum Minerals | 4.8120| 6.9
Methanex | -2.2150| -5.3
Canadian Natural Resources | -4.0380| -1.3
Bank of Montreal | -7.0590| -1.6
================================================================
Biggest Gainers | % Change |Index Points Move
================================================================
Eldorado Gold | 27.5| 1.1990
Aphria | 13.5| 2.0810
Ivanhoe Mines | 9.2| 0.9160
================================================================
Biggest Losers | % Change |Index Points Move
================================================================
Methanex | -5.3| -2.2150
Seven Generations Energy | -4.9| -1.0190
NuVista Energy | -4.8| -0.3210
* The benchmark 10-year bond rose and the yield fell 3.6 basis points to 1.877 percent
* The S&P 500 Index advanced 0.9 percent
US
By Reade Pickert
     (Bloomberg) — U.S. stocks rallied to cap their biggest monthly gain in three years as better-than-expected corporate earnings and the Federal Reserve’s dovish turn lifted investor sentiment.
     Technology shares led advances as the S&P 500 Index closed at an eight-week high. General Electric Co. and Facebook Inc. both surged more than 10 percent after traders cheered their quarterly results. Emerging-market shares advanced while Treasury yields fell a day after signals from the Fed that it will be “patient” on interest-rate moves and flexible on reducing its balance sheet.
     “The market is back to being focused on earnings,” Kate Warne, an investment strategist at Edward Jones, said in an interview at Bloomberg’s New York headquarters. “Much of the news has been reassuring and that’s supported rising stocks.”
     The S&P 500 posted its best month since October 2015 after Wednesday’s statement from the Fed helped ease fears that the central bank would continue with plans to tighten policy even in the face of cooling economic data. Outside the earnings realm, investors have an eye on meetings between Chinese negotiators and their counterparts in Washington to resolve the trade dispute. President Donald Trump said discussions are going well but that no deal will be final until he meets with Chinese President Xi Jinping “in the near future.”
     Elsewhere, the pound was steady as the European Union and U.K. appeared on a collision path over Brexit. The Stoxx Europe 600 Index ended little changed after a positive start, with banks among the biggest drags as energy companies rose following strong results from Royal Dutch Shell.
     In Asia, equities in Japan and Hong Kong rallied, while Chinese stocks posted a modest advance.
Among key events in the coming days:
* Meetings between Chinese President Xi Jinping’s top economic aide, Vice Premier Liu He, and U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin continue on Thursday.
* Earnings season rolls on.
* Chinese financial markets will close next week for the Lunar New Year holiday.
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.9 percent, extending the monthly gain to 7.9 percent.
* The Stoxx Europe 600 Index was little changed.
* The MSCI Emerging Market Index jumped 1.3 percent to a four-month high.
* The Nikkei-225 Stock Average rose 1.1 percent.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro slipped 0.3 percent to $1.1444.
* The British pound was little changed at $1.3114.
* The Japanese yen strengthened 0.1 percent to 108.91 per dollar.
Bonds
* The yield on 10-year Treasuries decreased five basis points to 2.63 percent.
* Germany’s 10-year yield declined four basis points to 0.15 percent.
* Britain’s 10-year yield declined four basis points to 1.22 percent.
* Italy’s 10-year yield fell one basis point to 2.58 percent.
Commodities
* West Texas Intermediate crude fell 0.3 percent to $54.02 a barrel.
* Gold was little changed at $1,319.78 an ounce.
–With assistance from Gregor Stuart Hunter, Adam Haigh, Samuel Potter and Yakob Peterseil.

Have a great night.

Be magnificent!

As ever,

Carolann

The scariest moment is just before you start.
                            -Stephen King, b. 1947

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

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

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

Dear Friends,

Tangents:
On Jan. 30, 1948, Indian political and spiritual leader Mahatma Gandhi was murdered by a Hindu extremist. 
Go to article »

GIZA, EGYPT: a 4400 year-old tomb was found in extraordinarily good condition.  The tomb is so pristine that painted colors on its reliefs and statues are still visible – a one-of-a-kind find in an area that’s been thoroughly looted and explored.  Archaeologists speculate that the tomb was left undisturbed because it was buried under a ridge and had to be excavated.  The tomb belonged to a priest named Watye; inside are four sealed shafts that haven’t been opened yet but which archaeologists believe will contain the sarcophagus and other artifacts. -CSM, January 14, 2019.
PHOTOS OF THE DAY

Boatman rows his boat during a cold foggy morning at Narmada River in Jabalpur in the Indian state of Madhya Pradesh on January 29, 2019. The Narmada river, also known as the Rewa, is the fifth longest river in the Indian subcontinent. Credit: Uma Shankar Mishra/AFP

A man looks at a car hit by a post after a tornado ripped through a neighbourhood in Havana, Cuba. Credit:  Fernando Medina/Reuters

Snow covered sheep in a field near Ingleton in the Yorkshire Dales as heavy snow falls. Credit: Andrew McCaren/LNP
Market Closes for January 30^th, 2019

Market Index	Close	Change
Dow Jones	25014.86	+434.90   +1.77%
S&P 500	2681.05	+41.05   +1.77%
NASDAQ	7183.078	+154.787   +2.20%
TSX	15484.55	+21.41
		+0.14%

International Markets

 

Market Index	Close	Change
NIKKEI	20556.54	-108.10
		-0.52%
HANG SENG	27642.85	+111.17
		+0.40%
SENSEX	35591.25	-1.25
		—
FTSE 100*	6941.63	+107.70
		+1.58%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.914		1.937
CND. 30 Year Bond		2.162		2.168
U.S.    10 Year Bond		2.6775		2.7044
U.S. 30 Year Bond		3.0315		3.0377

Currencies

BOC Close	Today	Previous
Canadian $	0.76079	0.75345
US $	1.31443	1.32722
Euro Rate 1 Euro=		Inverse
Canadian $	1.50961	0.66242
US $	1.14856	0.87071

Commodities

Gold	Close	Previous
London Gold Fix	1307.55	1302.15
Oil
WTI Crude Future	54.23	53.31

Market Commentary:
On this day in 2000, 17 dot-com companies each spent $73,000 per second for network television ads—a total of nearly $38 million—during Super Bowl XXXIV. By the time the big game had rolled around the next year, at least three had filed for Chapter 11 bankruptcy protection, thanks largely to the money they spent promoting themselves.
Canada
By Aoyon Ashraf
     (Bloomberg) — Canadian stocks rebounded from early losses to close the day on another positive note, after the U.S. Federal Reserve signaled a stark dovish turn in its latest policy statement. The S&P/TSX 500 rose 0.1 percent, to continue its winning streak for the 5th day, led by materials and information technology stocks.
     The biggest gainers among Canadian stocks were Precision Drilling, which received an upgrade from Raymond James on its 2019 capital plans. NexGen Energy was among the worst performers as the world’s top uranium miner said it will boost uranium production.
     Vancouver home sales were the lowest in nearly two decades last year as a slew of new taxes, rising interest rates, and tighter lending rules weighed on the market. Gone are the days of bidding wars and all-cash unconditional offers for multi-million-dollar mansions. Prices have begun to edge down, and the steepest declines have been at the high end of the market.
Stocks
* Precision Drilling Corp. surged 14 percent after being upgraded to strong buy at Raymond James on 2019 capital plan guidance
* Labrador Iron Ore Royalty Corp. gained almost 12 percent as iron ore price estimates were raised by most analysts on Vale disaster 
* Ivanhoe Mines up 8.8 percent after reporting 22.3 meter intersection of 13% copper at Kamoa 
* WSP Global Inc. rose 4.8 percent after the company said it expects its three-year strategic plan to boost adjusted Ebitda by 50 percent 
* Cameco fell 3.2 percent on Kazakhstan production boost
Commodities
* Western Canada Select crude oil traded at a $8.60 discount to WTI
* Gold jumped 0.5 percent to $1,318.90 an ounce
FX/Bonds
* The Canadian dollar rose about 0.9 percent to C$1.3150 per U.S. dollar
* The Canada 10-year government bond yield fell to 1.923%
US
By Reade Pickert
     (Bloomberg) — U.S. stocks surged and the dollar tumbled after the Federal Reserve signaled a stark dovish turn in its latest policy statement.
     The S&P 500 Index rallied to an eight-week high, the Dow Jones Industrial Average jumped 400 points and the Nasdaq 100 Index added more than 2.5 percent after the Fed said it will be “patient” on future interest-rate moves and signaled flexibility on the path for reducing its balance sheet. Major gauges were already higher on the day as technology shares rallied after
     Apple Inc.’s results beat estimates and Boeing Co. helped boost industrial stocks.
     The dollar weakened to a four-month low. The Treasury yield curve steepened as the two-year rate crashed while the 10-year level fell less sharply.
     The Federal Open Market Committee “will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support” a strong labor market and inflation near 2 percent, policy makers said Wednesday.
     The dovish statement helped ease fears that policy makers would continue with plans to raise interest rates even in the face of data suggesting the economy is cooling. The latest corporate earnings offered some reassurance after a series of lackluster results in January. All eyes will now be on tech giants including Facebook and Microsoft when they report later today. Meanwhile, Chinese negotiators are meeting U.S. counterparts in Washington for talks to resolve the ongoing trade dispute. Policy makers took “a step in a very dovish direction,” said Brett Ryan, a U.S. economist at Deutsche Bank AG. “They’re going to be on hold for a little bit.”
     The pound gained after losses Tuesday when lawmakers voted against a key proposal that sought to rule out the prospect of the U.K. crashing out of the European Union without a deal. The Stoxx Europe 600 Index’s gains were led by U.K. companies. 
     Members of Parliament including Prime Minister Theresa May instead backed a proposal to strip out the most difficult part of her proposed divorce package and re-open talks with the European Union.
     Elsewhere, iron ore surged after Brazil’s Vale SA, the world’s largest producer, outlined plans to cut output after a deadly dam breach. Oil rose above $54 a barrel as a government report showed a steep drop in imports from Saudi Arabia. Stocks in Japan and China slid, while they increased in South Korea, Australia and Hong Kong.
Among key events in the coming days:
* Chinese President Xi Jinping’s top economic aide, Vice Premier Liu He, meets with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Wednesday and Thursday.
* Tech giants Microsoft, Facebook, Qualcomm, Tesla, Samsung and Sony announce earnings. These are the main moves in markets:
Stocks
* The S&P 500 Index rose 1.6 percent at the close of trading in New York.
* The Stoxx Europe 600 Index climbed 0.4 percent to the highest in eight weeks.
* The U.K.’s FTSE 100 Index gained 1.6 percent.
* The MSCI Emerging Market Index rose 1 percent to a four-month high.
Currencies
* The Bloomberg Dollar Spot Index fell 0.4 percent.
* The euro gained 0.4 percent to $1.1477.
* The British pound rose 0.3 percent to $1.3104.
* The Japanese yen rose 0.4 percent to 108.96 per dollar.
Bonds
* The yield on 10-year Treasuries fell two basis points to 2.69 percent.
* Germany’s 10-year yield fell one basis point to 0.19 percent.
* Britain’s 10-year yield decreased one basis point to 1.25 percent.
Commodities
* West Texas Intermediate crude rose 1.8 percent to $54.27 a barrel.
* Gold rose 0.5 percent to $1,318.10 an ounce.
–With assistance from Adam Haigh, Julie Johnsson, Robert Brand and Samuel Potter.

Have a great night.

Be magnificent!

As ever,

Carolann

Don’t look back.  Something may be gaining on you.
A baseball pitcher’s advice.
                                    -Satchel Paige, 1906-82    

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:
January 29, 1796 – Transport – Lt Gov John Graves Simcoe officially opens Yonge Street, naming it after his friend Sir George Yonge, an expert on ancient Roman roads and British Secretary at War (1782–1783 and 1783–1794)

Go to article »

PHOTOS OF THE DAY

Unusual bookshop in Chongqing, China. Credit: ImagineChina/Rex

A booth attendant looks at a digital installation of rapeseed flowers during a press preview of the Flowers by Naked exhibition in Tokyo, Japan. Credit: Tomohiro Ohsumi/Getty Images

A woman walks along by the sea in a haze caused by dust clouds in southeast resort of Ayia Napa on the eastern Mediterranean island of Cyprus. A massive dust cloud has blanketed the island for several days blown in by strong winds from Africa. Credit: AP Photo/Petros Karadjias
Market Closes for January 29^th, 2019

Market Index	Close	Change
Dow Jones	24579.96	+51.74   +0.21%
S&P 500	2640.00	-3.85   -0.15%
NASDAQ	7028.289	-57.396   -0.81%
TSX	15463.14	+84.52
		+0.55%

International Markets

Market Index	Close	Change
NIKKEI	20664.64	+15.64
		+0.08%
HANG SENG	27531.68	-45.28
		-0.16%
SENSEX	35592.50	-64.20
		-0.18%
FTSE 100*	6833.93	+86.83
		+1.29%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.937		1.964
CND. 30 Year Bond		2.168		2.181
U.S.    10 Year Bond		2.7044		2.7440
U.S. 30 Year Bond		3.0377		3.0662

Currencies

BOC Close	Today	Previous
Canadian $	0.75345	0.75409
US $	1.32722	1.32611
Euro Rate 1 Euro=		Inverse
Canadian $	1.51773	0.65888
US $	1.14354	0.87448

Commodities

Gold	Close	Previous
London Gold Fix	1302.15	1293.90
Oil
WTI Crude Future	53.31	51.99

Market Commentary:
Canada
By Carolina Wilson and Aoyon Ashraf
     (Bloomberg) — Canadian stocks extended gains for a fourth consecutive session to the highest level for the S&P/Toronto Stock Exchange Index since mid-October of last year. U.S. stocks declined as investors studied the latest corporate earnings.
     The Canadian benchmark climbed 0.6 percent in Toronto, led by mostly by mining and materials stocks. Health care and information technology stocks underperformed.
     The stock symbol POT is up for grabs on Canadian exchanges and demand is so high that they’re holding a lottery for the first time ever to determine who gets it. POT, previously the ticker for Potash Corp. of Saskatchewan before it merged with Agrium Inc. to form Nutrien Ltd., becomes available for use on Friday. Not surprisingly, the cannabis-themed symbol has attracted “significant interest,” according to a staff notice published by the Toronto Stock Exchange.
Stocks
* SNC-Lavalin gained 6.5 percent after it got its first upgrade after Monday’s historic stock rout * Iamgold rises 5.8 percent after BMO upgraded the stock, praising the delay of Côté construction
* First Quantum Minerals climbed 5.2 percent copper futures rose 1.5 percent 
* Canopy Growth Corp. fell as much as 1.4 percent; Canopy-backed Slang Worldwide Inc. is expected to debut with a $377 million market value 
* Cascades Inc. fell 4.3 percent 
Commodities
* Western Canada Select crude oil traded at a $9.00 discount to WTI
* Gold rose about 0.7 percent to $1,311.86 an ounce
FX/Bonds
* The Canadian dollar fell about 0.1 percent to C$1.3277 per U.S. dollar
* The Canada 10-year government bond yield fell to 1.936%
US
By Reade Pickert and Sarah Ponczek
     (Bloomberg) — U.S. equities edged lower as investors weighed the latest corporate earnings and the chances of a trade breakthrough between the world’s biggest economies.
     Technology shares dragged the S&P 500 Index down, with Twitter, Facebook and chipmakers leading losses ahead of earnings by Apple and AMD after the bell. Industrial companies fared better as 3M Co. struck an optimistic tone and reported profit that beat estimates. Treasuries edged higher with the dollar. Crude rose as the U.S. put a de facto ban on Venezuelan oil. The British pound weakened after lawmakers voted for Prime
     Minister Theresa May to renegotiate the Brexit withdrawal agreement with Brussels.
     After a robust start to the year for equities, investors are looking for direction from a corporate earnings season that’s been indecisive so far. Chinese Vice Premier Liu He arrived in Washington for what the White House is describing as “very, very important” trade talks this week. Against the backdrop of U.S.-China stress and geopolitical tensions in Venezuela, traders they also need to navigate the Federal Reserve rate decision, developments in the U.K.’s Brexit process and a potential slew of American economic data that was delayed by the government shutdown. 
     “You have Brexit, you have the U.S.-China trade and you have the Federal Reserve, and so I think there’s some hope that each and every one of those is moving toward some sort of resolution that the market can hang its hat on,” said Brent Schutte, the chief investment strategist at Northwestern Mutual Wealth Management Co. “There’s going to be some back and forth and probably not a lot of conviction as we await to see what happens.”
     Elsewhere, almost all sectors climbed in the Stoxx Europe 600. Asian technology stocks underperformed after U.S. prosecutors filed criminal charges against Huawei Technologies Co., China’s largest smartphone maker. Emerging-market shares climbed and gold touched the highest level since May.
Among key events in the coming days:
* Chinese President Xi’s top economic aide, Vice Premier Liu He, will meet with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Wednesday and Thursday.
* Tech giants Microsoft, Facebook, Alibaba, Qualcomm, Tesla, Samsung and Sony announce earnings.
* The EU Parliament debates Brexit on Wednesday.
* Wednesday Fed Chairman Jerome Powell holds a news conference after the FOMC rate decision.
These are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.1 percent as of the close of trading in New York.
* The Stoxx Europe 600 Index gained 0.8 percent.
* The Nikkei-225 Stock Average climbed 0.1 percent.
* The MSCI Emerging Market Index gained 0.1 percent.
Currencies
* The Bloomberg Dollar Spot Index rose 0.1 percent.
* The euro rose 0.1 percent to $1.1436.
* The Japanese yen was little changed at 109.33 per dollar.
* The British pound fell 0.6 percent to $1.3163.
Bonds
* The yield on 10-year Treasuries sank three basis points to 2.71 percent.
* Germany’s 10-year yield was little changed at 0.20 percent.
* Britain’s 10-year yield was little changed at 1.26 percent.
Commodities
* The Bloomberg Commodity Index increased 0.8 percent.
* West Texas Intermediate crude gained 2.3 percent to $53.17 a barrel.
* Copper gained 1.5 percent to $2.7195 a pound.
* Gold climbed 0.6 percent to $1,311.23 an ounce, the highest since May.
–With assistance from Cormac Mullen, Christopher Anstey, Eddie van der Walt, Todd White and Samuel Potter.

Have a great night.

Be magnificent!

As ever,

 

Carolann

 

The present is the funeral of the past, and man the living sepulchre of life.
                                                             -John Clare, 1793-1864

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:

St. Paul’s Winter Carnival begins today – January 28-February 6.

In 1885 a New York reporter wrote that St. Paul was “another Siberia, unfit for human habitation” in winter.  Offended by this attack on their capital city, the St. Paul Chamber of Commerce decided to not only prove that St. Paul was habitable but that its citizens were very much alive during winter, the most dominant season.  Thus was born the St. Paul Winter Carnival.  In 1888, the tallest building in St. Paul was made from 55,000 blocks of ice.  Standing 130 feet at its highest point, the castle included a Sioux Indian village, skating rinks, toboggan run, and ski slide within the castle’s 30-foot tall walls.  In 1937, the Carnival was revived on a large scale by a group of enthusiasts who sought to instill life in a city recovering from the Great Depression.  Although simpler in design than its predecessors, the 1937 castle was the first to include an elevator. See www.winter-carnival.com

1986- Challenger Space Shuttle explosion.

2009 -In a swift victory for President Barack Obama, the Democratic-controlled House approved a $819 billion stimulus bill.  Go to article »

José Marti, writer, b. 1853.
Man has to suffer.  When he has no real afflictions, he invents some. – José Marti.

PHOTOS OF THE DAY

England’s largest Castle, Dover Castle is photographed by drone at golden hour before sunset. Credit: Chris Gorman

Members of the English Civil War Society reenactor for the commemoration of the execution of Charles I, who was taken by the King’s Army from St. James Place to the Banqueting House in Whitehall, for his execution on 30^th January 1694. Credit: Dinendra Haria/LNP

With the five-storied pagoda of Kofukuji temple in the foreground, Mount Wakakusayama in Nara is ablaze in flames in Nara, Japan. Credit: The Asahi Shimbun/Getty Images
Market Closes for January 28^th, 2019

Market Index	Close	Change
Dow Jones	24528.22	-208.98   -0.84%
S&P 500	2643.85	-20.91   -0.78%
NASDAQ	7085.684	-79.180   -1.11%
TSX	15378.62	+12.57
		+0.08%

International Markets

Market Index	Close	Change
NIKKEI	20649.00	-124.56
		-0.60%
HANG SENG	27576.96	+7.77
		+0.03%
SENSEX	35656.70	-368.84
		-1.02%
FTSE 100*	6747.10	-62.12
		-0.91%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.964		1.975
CND. 30 Year Bond		2.181		2.194
U.S.    10 Year Bond		2.7440		2.7513
U.S. 30 Year Bond		3.0662		3.0608

Currencies

BOC Close	Today	Previous
Canadian $	0.75409	0.75615
US $	1.32611	1.32250
Euro Rate 1 Euro=		Inverse
Canadian $	1.51569	0.65977
US $	1.14296	0.87492

Commodities

Gold	Close	Previous
London Gold Fix	1293.90	1283.70
Oil
WTI Crude Future	51.99	53.49

Market Commentary:
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite advanced slightly to 15,378.62 in Toronto.
     Canopy Growth Corp. contributed the most to the index gain, increasing 4.9 percent. Cronos Group Inc. had the largest increase, rising 16.0 percent. Today, 113 of 239 shares rose, while 121 fell.  
     Prime Minister Justin Trudeau ousted his ambassador to China in the middle of a diplomatic feud with Beijing after a string of public remarks drew criticism. Trudeau asked for, and got, the resignation of John McCallum on Friday, according to a statement from his office issued Saturday. The move comes amid the fallout of Canada’s arrest in December of Huawei Technologies Co. Chief Financial Officer Meng Wanzhou, at the request of the U.S., which has angered China.
* SNC-Lavalin Group Inc. dropped the most in at least 27 years after the builder warned it would miss its full-year profit target due to a “serious problem” with a mining contract
* Iamgold Corp. climbed after the company said it decided to wait for improved, and sustainable, market conditions in order to proceed with the Côté Gold Project construction 
* SNC-Lavalin Group Inc. dropped the most in at least 27 years after the builder warned it would miss its full-year profit target due to a “serious problem” with a mining contract
* Iamgold Corp. climbed after the company said it decided to wait for improved, and sustainable, market conditions in order to proceed with the Côté Gold Project construction 
Commodities
* Western Canada Select crude oil traded at a $9.50 discount to WTI
* Gold fell about 0.1 percent to $1,303.66 an ounce
FX/Bonds
* The Canadian dollar fell about 0.5 percent to C$1.32784 per U.S. dollar
* The Canada 10-year government bond yield rose to 1.961%
US
By Jeremy Herron and Reade Pickert
(Bloomberg) — U.S. stocks fell after Caterpillar and Nvidia blamed slowing global growth for disappointing results, augmenting concern the trade war with China is hitting corporate profits. Oil slid.
     The S&P 500 halted a three-day rally to start a week packed with events that could move markets, with the sector bellwethers dousing enthusiasm over the young earnings season. The Dow Jones Industrial Average dropped 210 points, with all but six of its 30 members in the red. Caterpillar sank 9.1 percent after pinning its biggest quarterly profit miss in a decade on weak demand from China. Nvidia plunged 14 percent after slashing its revenue forecast. AMD tumbled 8 percent.
     “When you see the big cyclical companies missing earnings or missing forecasts, it worries the market because it confirms what they’ve already been hearing from the macro side,” Dave Lafferty, chief market strategist at Natixis Investment Managers, said in an interview at Bloomberg’s New York headquarters. “Everyone knows the world is decelerating, they’re just waiting to see if the corporate earnings confirm that.”
     The disappointing results come amid a busy week for American corporate reports, highlighted by Microsoft, Apple and 10 other Dow components. Investors will also grapple with trade negotiations, amid a report Monday that U.S. prosecutors are planning to file criminal charges related to China’s largest smartphone maker. A Federal Reserve policy decision and Brexit votes also loom, while the U.S. stepped up pressure on Venezuela’s Nicolas Maduro by announcing sanctions on PDVSA. To cap it all, a flurry of American economic figures including GDP and jobs data are also set for release.
     European equities fell, though miners bucked the decline as iron ore jumped following a deadly dam collapse at a mine in Brazil. Earlier in Asia, Japanese and Chinese shares retreated, while stocks in Hong Kong pared gains to close little changed.
     The yuan appreciated to its strongest against the dollar since July before Vice Premier Liu He travels to Washington for trade talks, and as the People’s Bank of China freed up a potential $37 billion for bank lending.
     Elsewhere, Bitcoin fell, putting the biggest cryptocurrency on track for its lowest close since December. Emerging-market stocks slipped while their currencies climbed. Gold retreated, and Venezuela bonds extended their rally. Russia’s MOEX stock index touched an intraday record high after sanctions were lifted on Rusal, before reversing gains as oil prices slumped.
Among key events in the coming days:
* Chinese President Xi’s top economic aide, Vice Premier Liu He, will meet with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Wednesday and Thursday.
* Tech giants Apple, Microsoft, Facebook, Alibaba, SAP, Qualcomm, Tesla, Samsung and Sony announce earnings.
* On Tuesday the U.K. Parliament votes on amendments to Theresa May’s Brexit deal with the EU. The EU Parliament debates Brexit on Wednesday.
* Wednesday Fed Chairman Jerome Powell holds a news conference after the FOMC rate decision.

These are the main moves in markets:
Stocks
* The S&P 500 fell 0.8 percent as of 4 p.m. New York time.
* The Nasdaq 100 Index lost 1.3 percent.
* The Stoxx Europe 600 Index declined 1 percent.
* The MSCI Asia Pacific Index decreased 0.2 percent.
* The MSCI Emerging Market Index dipped 0.4 percent.
Currencies
* The Bloomberg Dollar Spot Index climbed less than 0.1 percent.
* The euro increased 0.2 percent to $1.1433.
* The British pound declined 0.3 percent to $1.3158.
* The Japanese yen gained 0.2 percent to 109.29 per dollar.
Bonds
* The yield on 10-year Treasuries decreased two basis points to
2.74 percent.
* The two-year rate was little changed at 2.61 percent.
* Germany’s 10-year yield gained two basis points to 0.21 percent.
Commodities
* West Texas Intermediate oil futures fell 3.7 percent to $51.72 a barrel.
* Gold futures rose 0.3 percent to $1,307.50 an ounce.
–With assistance from Cormac Mullen and Samuel Potter.

Have a great night.

Be magnificent!

As ever,

Carolann

 

It’s not the load that breaks you down, it’s the way you carry it.
                                                     -Lou Leo Holtz, b. 1937

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!

On Jan. 25, 1915, the inventor of the telephone, Alexander Graham Bell, inaugurated U.S. transcontinental telephone service. 
Go to article »

In today’s New York Times:

A Scottish feast honoring a poet

Robert Burns, the Scottish poet, was born on this day in 1759. He wrote hundreds of poems and songs, including the New Year’s Eve favorite “Auld Lang Syne,” before his life was cut short by illness.

Robert Burns, circa 1786.  Hulton Archive, via Getty Images

His use of vernacular is a barrier for many English speakers, but it is difficult to overstate the esteem he commands in Scotland and in the hearts of expatriates like this writer, who grew up in Burns’s home of Ayrshire.

His verses gave dignity and voice to the disenfranchised, and he is beloved for his romanticism and sense of humor. Scots around the world celebrate his birth with “Burns suppers.”

The most elaborate celebrations feature pipers marching in with a haggis (a traditional concoction of minced offal, oatmeal and spices) to a standing ovation, and a recitation by the host of Burns’s praise-filled “Address to a Haggis.”

So tonight, whatever is on your plate, join me in a toast to one of Scotland’s best-loved sons. — Chris, NY Times, January 25, 2019.

PHOTOS OF THE DAY

A cheeky robin hops inside a camper van hoping to be fed on a cold afternoon at Loch Lomond. < Scotland, UK. The unfortunate bird has an overgrown and misshapen beak which may take feeding itself more difficult. Credit: Kay Roxby/Alamy Live News

Indian soldiers of the President’s Bodyguard stand guard during a rehearsal for the upcoming Indian Republic Day parade at the Presidential Palace in New Delhi. They are the most elite regiment in the Indian Army, handpicked by height and heritage from a pool of thousands bedecked in the finest regalia befitting their status. The President’s Bodyguard, a 200-strong cavalry unit, have for centuries been assigned to India’s uppermost VIPs, from British viceroys to modern-day heads of state. Credit: Chandan Khanna/AFP/Getty Images

A visitor plays a game with water spray Water is thrown into the air and freezes, Beiji Village, Mohe City of northeast China’s Heilongjiang Province, China. With the lowest temperature approaching minus 30 degrees Celsius, visitors in Mohe Village experienced the game of ‘pouring water into ice’ here. Credit: Xinhua/Rex
Market Closes for January 25^th, 2019

Market Index	Close	Change
Dow Jones	24737.20	+183.96   +0.75%
S&P 500	2664.76	+22.43   +0.85%
NASDAQ	7164.863	+91.402   +1.29%
TSX	15366.05	+85.27
		+0.56%

International Markets

Market Index	Close	Change
NIKKEI	20773.56	+198.93
		+0.97%
HANG SENG	27569.19	+448.21
		+1.65%
SENSEX	36025.54	-169.56
		-0.47%
FTSE 100*	6809.22	-9.73
		-0.14%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.975		1.931
CND. 30 Year Bond		2.194		2.159
U.S.    10 Year Bond		2.7513		2.7157
U.S. 30 Year Bond		3.0608		3.0339

Currencies

BOC Close	Today	Previous
Canadian $	0.75615	0.74907
US $	1.32250	1.33499
Euro Rate 1 Euro=		Inverse
Canadian $	1.50943	0.66250
US $	1.14135	0.87616

Commodities

Gold	Close	Previous
London Gold Fix	1283.70	1279.80
Oil
WTI Crude Future	53.49	52.98

Market Commentary:
On this day in 1997, pyramid schemes promising returns of 8% per month collapsed all at once throughout Albania. Furious mobs of bilked investors besieged the nation’s deputy prime minister, Tritan Shehu, who cowered for safety in the locker room of a soccer stadium. By some estimates, $1 billion—or 30% of the nation’s gross domestic product—was invested in the Ponzi schemes. Investors lost nearly everything—and ended up overturning the government.
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks rose for a fifth straight week, the longest stretch since May, amid strong earnings and optimism that an end to the U.S. government shutdown may be in sight.
     The S&P/TSX Composite Index added 0.6 percent to 15,366.05, its highest close since Nov. 7. For the week, the benchmark rose 0.4 percent.
     Health-care stocks led the gains in Friday’s session, up 3 percent, as Canopy Growth Corp. jumped 8.6 percent to the highest since Oct. 17, the day Canada legalized recreational marijuana. Piper Jaffray analysts raised their price target on the stock, citing its entry into the U.S. hemp market.
In other moves:
Stocks
* Linamar Corp. gained 4.8 percent to the highest since November. The auto parts supplier said it plans to buy back up to 4.5 million shares
* Interfor Corp. added 7.1 percent and Canfor Corp. rose 6.3 percent as lumber prices continue to rebound from their 2018 lows
* Cameco Corp. rose 2.8 percent. The company plans to buy about 12 million pounds of uranium this year after shutting mining and milling operations in 2018 due to low prices
Commodities
* Western Canada Select crude oil traded at a $9.75 discount to WTI
* Gold rose 1.7 percent to $1,308.20 an ounce, topping $1,300 an ounce for the first time in three weeks
FX/Bonds
* The Canadian dollar strengthened 1 percent to C$1.3224 per U.S. dollar, the biggest gain since September, as the U.S. dollar weakened
* The Canada 10-year government bond yield rose 4 basis points to 1.98 percent
US
By Sarah Ponczek and Reade Pickert
     (Bloomberg) — Stocks rose as corporate earnings bolstered confidence in the economy and President Donald Trump said U.S. lawmakers agreed to re-open the government on an interim basis.
     Treasuries yields rose and the dollar weakened against most of its major peers.
     The Dow Jones Industrial Average and Nasdaq Composite indexes erased their first weekly declines of the year to finish in the green, while the S&P 500 finished marginally lower. The rally in emerging-market assets picked up steam on speculation the arrival of a Chinese delegation in Washington next week may help pave the way for a trade deal. Adding to optimism were reports that the Federal Reserve is weighing an end to a program of reducing its balance sheet sooner than previously expected, a move that could ease measures of financial conditions.
     “My sense is there’s potential for the risk taking channel to kick in,” said Tim Alt, a portfolio manager at Aviva Investors.
     The shutdown deal was a dramatic turnaround for Trump after insisting for five weeks that he wouldn’t allow the government to reopen without funding for a border wall. He pivoted as his job approval plunged, air travel was disrupted and smooth processing of tax refunds was threatened.
     “We still have the uncertainty but at least the crisis has been postponed or averted,” said John Carey, managing director and portfolio manager at Amundi Pioneer Asset Management. “It’s a question of relieving the short term pressure.”
     Elsewhere, Venezuela’s defaulted 2027 dollar bonds climbed to 30.9 percent of face value as the European Union appeared to be moving toward pushing for an immediate election. West Texas oil futures closed higher as traders weighed the Venezuelan crisis and its possible effect on production with the outlook of a market that’s otherwise comfortably supplied. And the pound posted its best week since September 2017, extending its increase on heightened optimism that a no-deal Brexit will be averted.
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.9 percent to 2,664.76 as of 4:05 p.m. New York time, while the Nasdaq Composite Index gained 1.3 percent and the Dow Jones Industrial Average increased 0.8 percent.
* The Stoxx Europe 600 Index rose 0.6 percent.
* The U.K.’s FTSE 100 Index dropped 0.1 percent.
* Germany’s DAX Index rose 1.4 percent.
* The MSCI Emerging Market Index rose 1.4 percent, the biggest gain in almost two weeks.
Currencies
* The Bloomberg Dollar Spot Index dropped 0.7 percent, the biggest decline in about two weeks.
* The euro jumped 1 percent to $1.1417.
* The British pound rose 1.1 percent to $1.3214.
* The Japanese yen gained 0.1 percent to 109.49 per dollar.
Bonds
* The yield on 10-year Treasuries climbed three basis points to 2.75 percent.
* Germany’s 10-year yield rose one basis point to 0.19 percent, the first increase in five days.
* Britain’s 10-year yield rose four basis points to 1.31 percent. 
Commodities
* West Texas Intermediate rose 0.8 percent to $53.56 a barrel.
* Gold rose 1.5 percent to $1,300 an ounce.
–With assistance from Liz Capo McCormick, Sophie Caronello and Misyrlena Egkolfopoulou.Have a great night.

Have a wonderful weekend.

Be magnificent!

As ever,

Carolann

 

The invariable mark of wisdom is to see the miraculous in the common.
                                            -Ralph Waldo Emerson, 1803-1882

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

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

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

Dear Friends,

Tangents:
On Jan. 24, 1965, Winston Churchill died in London at age 90.  Go to article »
PHOTOS OF THE DAY

Water flows around ice, formed on the American Falls in Niagra Falls, New York, due to subzero temperatures. Credit: Moe Doiron/Reuters

The snow-covered peaks of Mount Vesuvius volcano is framed by ancient ruins of the archeological excavations of Pompeii, near Naples, southern Italy. Credit: Cesare Abbate/Ansa/AP

Joana (left) and Jessica Ferreira stand among an installation of 800 school bags created by the Charity WaterAid on the steps of St. Paul’s Cathedral, London, representing the 800 children who die every day due to dirty water. Credit: Heathcliff O’Mally for The Telegraph
Market Closes for January 24^th, 2019

Market Index	Close	Change
Dow Jones	24553.24	-22.38   -0.09%
S&P 500	2642.33	+3.63   +0.14%
NASDAQ	7073.461	+47.693   +0.68%
TSX	15280.78	+72.45
		+0.48%

International Markets

Market Index	Close	Change
NIKKEI	20574.63	-19.09
		-0.09%
HANG SENG	27120.98	+112.78
		+0.42%
SENSEX	36195.10	+86.63
		+0.24%
FTSE 100*	6818.95	-23.93
		-0.35%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.931		1.970
CND. 30 Year Bond		2.159		2.188
U.S.    10 Year Bond		2.7157		2.7409
U.S. 30 Year Bond		3.0339		3.0617

Currencies

BOC Close	Today	Previous
Canadian $	0.74907	0.74948
US $	1.33499	1.33426
Euro Rate 1 Euro=		Inverse
Canadian $	1.50904	0.66267
US $	1.13037	0.88467

Commodities

Gold	Close	Previous
London Gold Fix	1279.80	1282.10
Oil
WTI Crude Future	52.98	52.42

Market Commentary:
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks closed at their highest level of the day, boosted by stronger oil prices and strong earnings from Canadian Pacific Railway Ltd.
     The S&P/TSX Composite Index rose 0.5 percent to 15,280.78, its first gain in three sessions. CP Rail jumped 3 percent to the highest since early December after the railway forecast double-digit earnings growth for 2019. That helped boost the industrials sector to a gain of 0.8 percent.
     Energy stocks rose 0.9 percent as growing instability in Venezuela boosted crude prices. The health-care index led the gains, up 2.5 percent amid rising pot stocks. Aurora Cannabis Inc. added 7 percent and Cronos Group Inc. rallied 6.6 percent.
In other moves:
Stocks
* Canada Goose Holdings Inc. slid 7.1 percent after Wells Fargo Securities cut its rating on the stock, citing a less compelling valuation and a slowdown in popularity on the web
* Interfor Corp. jumped 9.2 percent to the highest since early November as lumber futures rose to a four-month high
* Great-West Lifeco Inc. fell 4.8 percent, the most since May 2017. The insurer is selling its U.S. individual life insurance and annuity business for C$1.6 billion
Commodities
* Western Canada Select crude oil traded at a $9.50 discount to WTI
* Gold fell 0.3 percent to $1,279.80 an ounce, the lowest since December
FX/Bonds
* The Canadian dollar weakened 0.1 percent to C$1.3354 per U.S. dollar
* The Canada 10-year government bond yield fell 4 basis points to 1.93 percent
US
By Reade Pickert and Sarah Ponczek
     (Bloomberg) — Stocks closed mostly higher as a rally in semiconductor shares helped temper concern the U.S. and China may be further from a trade resolution than investors had hoped. Treasury bonds remained a refuge and the dollar resumed its rally.
     The S&P 500 and Dow Jones Industrial indexes swung between gains and losses most of the day after Secretary of Commerce Wilbur Ross said the world’s two biggest economies remain “miles and miles” apart on trade. White House economic adviser Lawrence Kudlow later said President Donald Trump is optimistic about trade talks and the January jobs report will be up a significant amount.
     “What we’re seeing right now is this fight between really good earnings and the short-term news on tariffs,” Joe “JJ” Kinahan, chief market strategist at TD Ameritrade, said by phone. “It shows why tariffs have such a large influence on everything.”
     The Philadelphia semiconductor index climbed 5.7 percent, the best day since Dec. 26 after strong earnings results from a trio of companies. Twenty-nine of the 30 index members traded higher, led by a 17 percent surge in Xilinx. U.S. airlines also rallied as American and Southwest predicted strong revenue gains after surpassing Wall Street’s profit estimates late last year.
     “All had good and strong earnings and more importantly, looking into the future, they weren’t talking down their numbers,” said Kim Forrest, senior portfolio manager at Fort Pitt Capital Group in Pittsburgh. “In fact they’re talking up their numbers so those are all signs of strength.”
     After the close, Intel shares fell when the company reported revenue for the fourth quarter that missed the lowest analyst estimate.
     It’s been a rocky week for investors, as they scramble for clues on both the global trade outlook and the health of the U.S. economy. Looming over everything is America’s partial government shutdown, which not only threatens to crimp activity but is also restricting the flow of economic data. The Senate blocked two rival proposals Thursday to reopen U.S. government agencies in largely partisan votes.
     Elsewhere, the euro weakened as regional economic data fell short of forecasts, then showed little reaction to a widely expected European Central Bank rate hold. Europe’s shared currency later slumped as report circulated that the German government cut its growth forecast. Venezuela bonds extended their rally on speculation President Nicolas Maduro’s opponents will gain momentum in their efforts to oust him.
These are some events investors will be watching out for in the coming days:
* The World Economic Forum, the annual gathering of global leaders in politics, business and culture, continues in Davos, Switzerland.
And these are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.1 percent to 2,642.33 as of 4:09 p.m. New York time, while Nasdaq Composite Index gained 0.7 percent and the Dow Jones Industrial Average dropped 0.1 percent.
* The Stoxx Europe 600 Index rose 0.2 percent.
* The U.K.’s FTSE 100 Index dipped 0.4 percent.
* Germany’s DAX Index rose 0.5 percent.
* The MSCI Emerging Market Index rose 0.7 percent.
Currencies
* The Bloomberg Dollar Spot Index rose 0.3 percent, the seventh increase in eight days.
* The euro slumped 0.6 percent to $1.1309.
* The British pound fell 0.1 percent to $1.3058, the first drop in four days.
* The Japanese yen rose less than 0.1 percent to 109.56 per dollar.
Bonds
* The yield on 10-year Treasuries fell three basis points to 2.71 percent.
* Germany’s 10-year yield fell five basis points to 0.18 percent, the fourth straight decline.
* Britain’s 10-year yield fell six basis points to 1.27 percent.
Commodities
* West Texas Intermediate rose 1.2 percent to $53.24 a barrel.
* Gold fell 0.2 percent to $1,281 an ounce.

Have a great night.

Be magnificent!

As ever,

 

Carolann

 

A person’s greatest virtue is his ability to correct his mistakes and continually make a new person of himself.
-Yang-Ming Wang, (Chinese philosopher, 1472-1529).

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