Category: Events

Dear Friends,

Tangents:
On Jan. 23, 1973, President Richard Nixon announced an accord had been reached to end the Vietnam War. Go to article »

-from CNN today:

Street symphony
Meet the musicians who’ve played over 500 free concerts for the homeless on Skid Row. (Click to view) 

PHOTOS OF THE DAY

Royal Air Force pall bearers from RAF Cosford carry the coffin of World War II veteran Edna Barnett during funeral service at Telford Crematorium in Telford, England. The service for Edna, aged 91, took place alongside her husband Victor, 101, also an RAF veteran and Dambusters engineer took place alongside his wife Edna, 91, a member of the Womens Auxiliary Air Force. The couple from Telford, Shropshire died with days of each other and had no surviving relatives to come to their funeral. An ‘call to arms’ by airmen at RAF Cosford saw hundreds of people arrive to pay their respects to the couple. Credit: Christopher Furlong/Getty Images

Police officers operate a security robot to patrol inside a railway station as the annual Spring Festival travel rush starts ahead of the Chinese Lunar New year, in Shenzhen, Guangdong province, China. Credit: Reuters

These incredible images show a pair of fighting horses put on their dancing hooves as they appear to do the foxTROT. The stallions were snapped by graphic designer Ingo Gerlach, 65, in Iceland last month. The 65-year-old joked about the different dance moves the animals carried out as they stood on their hind legs. Ingo said: These Icelandic stallions dance the Tango and also the Polka. Credit: Ingo Gerlach/Caters News Agency
Market Closes for January 23^rd, 2019

Market Index	Close	Change
Dow Jones	24575.62	-30.41   -0.12%
S&P 500	2638.70	-4.18   -0.16%
NASDAQ	7025.770	+5.414   +0.08%
TSX	15208.33	-25.43
		-0.17%

International Markets

Market Index	Close	Change
NIKKEI	20593.72	-29.19
		-0.14%
HANG SENG	27008.20	+2.75
		+0.01%
SENSEX	36108.47	-336.17
		-0.92%
FTSE 100*	6842.88	-58.51
		-0.85%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.970		1.969
CND. 30 Year Bond		2.188		2.187
U.S.    10 Year Bond		2.7409		2.7427
U.S. 30 Year Bond		3.0617		3.0632

Currencies

BOC Close	Today	Previous
Canadian $	0.74948	0.74924
US $	1.33426	1.33468
Euro Rate 1 Euro=		Inverse
Canadian $	1.51875	0.65844
US $	1.13827	0.87853

Commodities

Gold	Close	Previous
London Gold Fix	1282.10	1282.10
Oil
WTI Crude Future	52.42	52.57

Market Commentary:
On this day in 1895, the New York Stock Exchange recommended that listed companies should publish annual financial statements and distribute them to shareholders.
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.2 percent, or 25.43 to 15,208.33 in Toronto.
Royal Bank of Canada contributed the most to the index decline, decreasing 1.4 percent. Baytex Energy Corp. had the largest drop, falling 5.6 percent.
Today, 109 of 239 shares fell, while 125 rose; 4 of 11 sectors were lower, led by energy stocks.
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | -27.3691| -1.0| 5/37
Financials | -20.9407| -0.4| 16/9
Materials | -3.2716| -0.2| 25/25
Health Care | -0.2048| -0.1| 3/6
Communication Services | 0.1858| 0.0| 5/2
Consumer Staples | 0.5675| 0.1| 6/4
Utilities | 0.8098| 0.1| 10/6
Real Estate | 1.9517| 0.4| 17/5
Industrials | 3.1391| 0.2| 17/9
Information Technology | 6.9871| 1.1| 10/0
Consumer Discretionary | 12.7215| 2.0| 11/6
================================================================
Top Contributors |Index Points Move | % Change
================================================================
Royal Bank of Canada | -13.8500| -1.4
Suncor Energy | -7.0270| -1.5
Bank of Nova Scotia | -3.7580| -0.6
Canadian National | 1.4000| 0.3
Constellation Software | 3.9550| 3.0
Restaurant Brands | 13.2100| 9.6
================================================================
Biggest Gainers | % Change |Index Points Move
================================================================
Restaurant Brands | 9.6| 13.2100
TransAlta | 5.8| 0.7940
MEG Energy | 5.4| 0.4790
================================================================
Biggest Losers | % Change | Index Points Move
================================================================
Baytex Energy | -5.6| -0.5130
Precision Drilling | -5.5| -0.3140
Vermilion Energy | -5.3| -1.8790
* The Canadian dollar fell 0.07 percent to 1.3346 againstthe U.S. dollar
US
By Reade Pickert
     (Bloomberg) — Stocks closed higher after whipsawing investors through the day amid the ongoing debate over the outlook for global growth. The dollar’s six-day rally stalled and crude oil dropped after an earlier increase.
     The S&P 500, Dow and Nasdaq all turned green in the last hours of trading. Stock had initially rallied in the wake of a spate of better-than-forecast quarterly earnings from IBM, Procter & Gamble and United Technologies before dropping into the red. White House Council of Economic Advisers Chairman Kevin Hassett said that if the partial government shutdown extends through March, there’s a chance of zero economic expansion this quarter, though “humongous” growth would follow once federal agencies reopen.
     “It’s a long list of headwinds and the interesting thing is that none of them seem to be abating,” said Michael O’Rourke, JonesTrading’s chief market strategist.
     Doubts over foreign trade and politics continue to permeate global markets. White House adviser Lawrence Kudlow said late Tuesday that negotiations between the U.S. and China next week will be “determinative,” leaving traders on edge about the prospects for a deal. Meanwhile, the Senate is set to vote Thursday on legislation to reopen the government, though it’s not clear that any measures will pass.
     “The broader concern that I think will continue to creep in here is, leaving trade aside, is how weak is global growth? How weak is China’s growth?” said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co.
     Elsewhere, WTI oil retreated after climbing above $53 a barrel. The pound strengthened for a third day after signs emerged that the U.K. Parliament is moving closer to a plan for delaying Brexit. The yen slid as the Bank of Japan cut its inflation outlook.
These are some events investors will be watching out for in the coming days:
* Earnings season is in full swing: Texas Instruments and Ford are among companies posting results this week.
* The World Economic Forum, the annual gathering of global leaders in politics, business and culture, continues in Davos, Switzerland.
* There are monetary-policy decisions for the Bank of Korea and the European Central Bank, both Thursday.
And these are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.2 percent to 2,638.70 as of 4:04 p.m. New York time, while Nasdaq Composite Index gained 0.1 percent to 7,025.77 and the Dow Jones Industrial Average rose 0.7 percent to 24,575.62.
* The Stoxx Europe 600 Index fell 0.1 percent.
* The U.K.’s FTSE 100 Index dipped 0.9 percent.
* Germany’s DAX Index fell 0.2 percent.
* The MSCI Emerging Market Index rose 0.2 percent.
Currencies
* The Bloomberg Dollar Spot Index fell 0.3 percent, the first drop in seven days.
* The euro rose 0.2 percent to $1.1383.
* The British pound increased 0.9 percent to $1.3068, the third straight gain.
* The Japanese yen weakened 0.2 percent to 109.60 per dollar, the first drop in three days.
Bonds
* The yield on 10-year Treasuries rose less than one basis point to 2.75 percent.
* Germany’s 10-year yield fell one basis point to 0.22 percent, the third straight decline.
* Britain’s 10-year yield rose less than one basis point to 1.33 percent.
Commodities
* West Texas Intermediate crude fell 0.2 percent to $52.60 a barrel, after initially gaining as much as 2 percent.
* Gold fell 0.2 percent to $1,283 an ounce.
–With assistance from Michael P. Regan.

Have a great night.

Be magnificent!

As ever,

Carolann

Curiosity is, in great and generous minds, the first passion and the last.
                                      -William Samuel Johnson, 1727-1819

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. 22, 1973, the Supreme Court handed down its Roe vs. Wade decision, which legalized abortion. Go to article »

Lord Byron, poet, b. 1788

SHE WALKS IN BEAUTY
    -by Lord Byron

She walks in beauty, like the night 
Of cloudless climes and starry skies, 
And all that’s best of dark and bright 
Meet in her aspect and her eyes, 
Thus mellowed to that tender light 
Which heaven to gaudy day denies. 

One shade the more, one ray the less, 
Had half impaired the nameless grace 
Which waves in every raven tress 
Or softly lightens o’er her face, 
Where thoughts serenely sweet express 
How pure, how dear their dwelling-place. 

And on that cheek, and o’er that brow, 
So soft, so calm, yet eloquent, 
The smiles that win, the tints that glow, 
But tell of days in goodness spent, – 
A mind at peace with all below, 
A heart whose love is innocent.

PHOTOS OF THE DAY

This combination photo shows the totally eclipsed moon, center, and others at the different stages during a total lunar eclipse, as seen from Los Angeles. It was also the year’s first supermoon, when a full moon appears a little bigger and brighter thanks to its slightly closer position. During totality, the moon will look red because of sunlight scattering off Earth’s atmosphere. That’s why an eclipsed moon is sometimes known as a blood moon. In January, the full moon is also sometimes known as the wolf moon or great spirit moon. Credit: AP Photo/Ringo H.W. Chiu

A Kashmiri boatman paddles a shikara boat during rainfall on Dal Lake in Srinagar. Credit: Tauseef Mustafa/AFP/Getty Images

Aerial view of bullet trains waiting at a railway station during Chinese Spring Festival travel rush on January 21, 2019 in Nanjing, Jiangsu Province of China. The 40-day Chinese Spring Festival travel rush starts on Monday, lasting until March 1. The Spring Festival, or Chinese Lunar New Year, falls on February 5 this year. Credit: VCG Via Getty Images
Market Closes for January 22^nd, 2019

Market Index	Close	Change
Dow Jones	24404.48	-301.87   -1.22%
S&P 500	2632.90	-37.81   -1.42%
NASDAQ	7020.355	-136.872   -1.91%
TSX	15233.76	-120.40
		-0.78%

International Markets

Market Index	Close	Change
NIKKEI	20496.15	-126.76
		-0.61%
HANG SENG	27005.45	-191.09
		-0.70%
SENSEX	36444.64	-134.32
		-0.37%
FTSE 100*	6901.39	-69.20
		-0.99%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.969		2.017
CND. 30 Year Bond		2.187		2.237
U.S.    10 Year Bond		2.7427		2.7842
U.S. 30 Year Bond		3.0632		3.0974

Currencies

BOC Close	Today	Previous
Canadian $	0.74924	0.75202
US $	1.33468	1.32975
Euro Rate 1 Euro=		Inverse
Canadian $	1.51660	0.65936
US $	1.13631	0.88004

Commodities

Gold	Close	Previous
London Gold Fix	1282.10	1284.20
Oil
WTI Crude Future	52.57	53.80

Market Commentary:
On this day in 2008, in the depths of the financial crisis, the Federal Reserve surprised markets by cutting rates three-quarters of a percentage point to 3.5% a week before it was scheduled to meet. It was the Fed’s first emergency rate cut since 1998.
Canada
By Carolina Wilson
     (Bloomberg) — Canadian stocks weakened after gaining for 12 consecutive sessions, the longest advance for the S&P/Toronto Stock Exchange Index since May 2018. Trade and growth fears weighed on global markets, with U.S. stocks dropping.
     The benchmark dropped 0.7 percent at 9:50 a.m. in Toronto, with declines led by energy and industrials shares. Consumer staples and utilities rose.
     A group of former ambassadors and academics is calling on China to immediately release two Canadians it detained in the wake of the arrest of a top Huawei Technologies Co. executive in Vancouver. The open letter, dated Monday and addressed to Chinese President Xi Jinping, said its 141 signatories are “deeply concerned” by the detentions of Michael Kovrig and Michael Spavor by state security officials.
Stocks
* Baytex Energy Corp. declined more than 7 percent after the stock was downgraded to sell at Veritas
* Superior Plus Corp. climbed 3.8 percent after reporting 2018 preliminary adjusted Ebitda toward the high end of the range 
* Canopy Growth Corp. continued climbing to record highs after CIBC initiated coverage with a sector outperform rating last week
Commodities
* Western Canada Select crude oil traded at a $11.40 discount to WTI
* Gold rose about 0.2 percent to $1,282.81 an ounce
FX/Bonds
* The Canadian dollar fell about 0.4 percent to C$1.3344 per U.S. dollar
* The Canada 10-year government bond yield rose to 1.979%
US
By Sarah Ponczek
     (Bloomberg) — Stocks fell the most in almost three weeks as rising pessimism that trade tensions with China will persist helped send technology and multinational companies tumbling.
     Treasuries climbed, oil fell and the yen strengthened. Chipmakers plunged more than 3 percent, with every member of the Philadelphia Semiconductor Index in the red. Caterpillar and DowDuPont led declines in the Dow Jones Industrial Average of more than 400 points at one point. The S&P 500 briefly pared losses after presidential adviser Lawrence Kudlow said a Financial Times report that the U.S. canceled a preliminary meeting with Chinese officials was untrue.
     “Investors obviously are still a little bit edgy and therefore we would expect periods of volatility to continue,” said Mark Hackett, chief of investment research at Nationwide Funds Group, which manages $60 billion. “As the headlines continue to get more nerve wracking with regards to a global slowdown and trade wars and government shutdowns, it’s easy to spook investors, but we think those are temporary versus permanent.”
     The Stoxx Europe 600 Index dipped after Switzerland’s UBS Group AG delivered disappointing results. Earlier, shares retreated across Asia after Chinese President Xi Jinping stressed the need to maintain political stability, comments which hinted at growing concern over the country’s slowing economy.
     After stocks and many risk assets kicked off the year with a stellar rally, investors now find their conviction tested anew as a familiar litany of concerns weigh on sentiment. The IMF’s dour forecast for global growth, fears of slowing momentum in the world’s second-largest economy and uncertainty over trade are all combining to spook markets.
     Elsewhere, the pound rose after U.K. data showed the jobs market remains resilient and as Labour leader Jeremy Corbyn backed a plan that could open the door to a second Brexit referendum. Oil retreated from a near two-month high in New York. At the World Economic Forum in Davos, billionaire investor Ray Dalio chastised monetary policy makers for an “inappropriate desire” to tighten faster than the capital markets could handle.
These are some events investors will be watching out for in the coming days:
* Earnings season is in full swing: IBM, United Technologies, Texas Instruments, and Ford are among companies posting results this week.
* The World Economic Forum, the annual gathering of global leaders in politics, business and culture, continues in Davos, Switzerland.
* There are monetary-policy decisions for the Bank of Japan (Wednesday), the Bank of Korea and the European Central Bank (both Thursday).

And these are the main moves in markets:
Stocks
* The S&P 500 Index fell 1.4 percent to 2,633 as of 4:02 p.m. New York time, while Nasdaq Composite Index tumbled 1.9 percent to 7,020 and the Dow Jones Industrial Average declined 1.2 percent to 24,405.
* The Stoxx Europe 600 Index declined 0.4 percent, the largest drop in a week.
* The U.K.’s FTSE 100 Index dipped 1 percent.
* Germany’s DAX Index declined 0.4 percent.
* The MSCI Emerging Market Index declined 0.9 percent, the largest drop in more than two weeks.
Currencies
* The Bloomberg Dollar Spot Index rose less than 0.1 percent, the sixth consecutive gain.
* The euro was little changed at $1.1360.
* TheBritish pound increased 0.5 percent to $1.2960.
* The Japanese yen gained 0.3 percent to 109.30 per dollar, the biggest rise in more than a week.
Bonds
* The yield on 10-year Treasuries sank five basis points to 2.74 percent, the largest decline in more than a week.
* Germany’s 10-year yield fell two basis points to 0.23 percent, the biggest fall in a week.
* Britain’s 10-year yield rose than one basis point to 1.32 percent.
Commodities
* West Texas Intermediate crude declined 2.3 percent to $52.57 a barrel, the largest drop in more than a week.
* Gold rose 0.7 percent to $1,285 an ounce.
–With assistance from Yakob Peterseil.
Have a great night.

Be magnificent!

As ever,

Carolann

 

A schedule defends from chaos and whim.
                –Annie Dillard, b. 1945

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

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

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

Dear Friends,

Tangents: Full Moon tonight!
Wasn’t that eclipse last night amazing? 
On Jan. 21, 1976, the supersonic Concorde jet was put into service by Britain and France.  Go to article »

PHOTOS OF THE DAY

The Wolf Moon rises over Ely Cathedral, Cambridgeshire. Credit: Charlotte Graham for The Telegraph

A ‘Tamborillero’ wearing his uniforms marches in the traditional ‘La Tamborrada’, during ‘El Dia Grande’, the main day of San Sebastian feasts, in the Basque city of San Sebastian, northern Spain. Credit: Alvaro Barrientos/AP

A Plumbeous Water Redstart lands on a branch in zhengzhou city, Henan province of China. Credit: Costfoto/Barcroft Images
Market Closes for January 21^st, 2019

Market Index	Close	Change
Dow Jones	24706.35	Closed
S&P 500	2663.44	Closed
NASDAQ	7157.227	Closed
TSX	15354.16	+50.33
		+0.33%

International Markets

Market Index	Close	Change
NIKKEI	20719.33	+53.26
		+0.26%
HANG SENG	27196.54	+105.73
		+0.39%
SENSEX	36578.96	+192.35
		+0.53%
FTSE 100*	6970.59	-4.74
		-0.07%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		2.017		2.035
CND. 30 Year Bond		2.237		2.257
U.S.    10 Year Bond		2.7842		2.7824
U.S. 30 Year Bond		3.0974		3.0950

Currencies

BOC Close	Today	Previous
Canadian $	0.75202	0.75330
US $	1.32975	1.32749
Euro Rate 1 Euro=		Inverse
Canadian $	1.51193	0.66141
US $	1.13700	0.87953

Commodities

Gold	Close	Previous
London Gold Fix	1284.20	1290.70
Oil
WTI Crude Future	53.80	53.80

Market Commentary:
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks extended their winning streak to 12 days, the longest such stretch in five years, after spending much of the day in negative territory.
     The S&P/TSX Composite Index added 0.3 percent to 15,354.16, the highest close since early November. Trading volume was nearly two-thirds below average as U.S. markets were closed for a holiday.
     Industrials led the gains, up 0.9 percent, followed by materials, which reversed an earlier decline to add 0.6 percent.
     Pot stocks also climbed, with Aphria Inc. up 12 percent, the biggest gainer on the benchmark.
In other moves:
Stocks
* Dollarama Inc. added 1 percent. The retailer has launched its first online store, which sells about 1,000 items in bulk
* ZCL Composites Inc. jumped 36 percent, the most since 2004, while ShawCor Ltd. slipped 1.8 percent. ShawCor is buying ZCL for C$308 million in cash
* Village Farms International Inc. gained 21 percent, the most since June, after the produce and cannabis company filed to list its shares on the Nasdaq
Commodities
* Gold for immediate delivery fell 0.2 percent to $1,279.60 an ounce
FX/Bonds
* The Canadian dollar weakened 0.2 percent to C$1.3298 per U.S. dollar
* The Canada 10-year government bond yield fell 2 basis points to 2.02 percent
US
Martin Luther King Jr. Day – US markets closed.
Have a great evening.

Be magnificent!

As ever,

Carolann

The time is always right to do what is right.
-Rev Dr Martin Luther King Jr, 1929-1968

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. 18, 1912, English explorer Robert F. Scott and his expedition reached the South Pole, only to discover that Roald Amundsen had gotten there first. Go to article »

In memoriam: Mary Oliver, a Pulitzer Prize-winning poet, used plain language and minute attention to write about the natural world. She earned wide popularity, and comparisons to Walt Whitman and Robert Frost, although critical reaction was mixed. She died on Thursday at 83.
-from Mary Oliver:
Tell me, what is it you plan to do with your one wild and precious life?

Instructions for living a life. Pay attention. Be astonished. Tell about it.

When it’s over, I want to say: all my life I was a bride married to amazement. I was the bridegroom, taking the world into my arms.

The streets are closed in Cremona, Italy, and the mayor has asked citizens for silence. Even a broken glass may trigger a police visit.

Cremona was once home to Antonio Stradivari, who in the 17th and 18th centuries produced some of the finest violins and cellos ever made. And an ambitious project to digitally record the sounds of his instruments requires absolute quiet.

Sound engineers using 32 ultrasensitive microphones are producing a database to store all the possible tones that four instruments selected from the Museo del Violino’s collection can produce. The quiet, and the recording, lasts through January. -NY Times, January 18^th, 2019.

PHOTOS OF THE DAY

A shark said to be ‘Deep Blue’, is one of the largest recorded individuals, swims offshore Hawaii, U.S. in this picture obtained from social media. Credit: Juansharks/@oceanramsay/Juan Oliphant/oneoceandiving/com via Reuters

HT Rally Raid Husqvarna Racing No, 26 Motorbike ridden by Carlos Gracida Garza of Mexico competes in the sand, desert and dunes during Stage Nine of the 2019 Dakar Rally near Ica in Pisco, Peru. Credit” Dean Mouhtaropoulos/Getty Images

Bryony Frost riding Myplaceatmidnight (L) lead all the way to win The Towergate Caravan Insurance Handicap Hurdle at Wincanton Racecourse in Wincanton, England. Credit: Alan Crowhurst/Getty Images
Market Closes for January 18^th, 2019

Market Index	Close	Change
Dow Jones	24706.35	+336.25   +1.38%
S&P 500	2663.44	+27.48   +1.04%
NASDAQ	7157.227	+72.764   +1.03%
TSX	15311.70	+100.48
		+0.66%

International Markets

Market Index	Close	Change
NIKKEI	20666.07	+263.80
		+1.29%
HANG SENG	27090.81	+335.18
		+1.25%
SENSEX	36386.61	+12.53
		+0.03%
FTSE 100*	6968.33	+133.41
		+1.95%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		2.035		1.995
CND. 30 Year Bond		2.257		2.226
U.S.    10 Year Bond		2.7824		2.7504
U.S. 30 Year Bond		3.0950		3.0741

Currencies

BOC Close	Today	Previous
Canadian $	0.75330	0.75295
US $	1.32749	1.32811
Euro Rate 1 Euro=		Inverse
Canadian $	1.50869	0.66283
US $	1.13658	0.87983

Commodities

Gold	Close	Previous
London Gold Fix	1290.70	1292.30
Oil
WTI Crude Future	53.80	52.07

Market Commentary:
Canada
By Aoyon Ashraf
     (Bloomberg) — Canadian stocks extended gains for an 11th consecutive session, the longest advance for the S&P/Toronto Stock Exchange Index since May 2018. Global markets continued to see a risk-on tone, as U.S. equities climbed amid further optimism for U.S.-China trade talks.
     The benchmark climbed 0.6 percent in Toronto, led by technology and health care, while materials underperformed. The index breached the 100-day moving average for the first time since late September. The index’s rally so far this year has been driven mainly by pot producers. In fact, the last time Canadian stocks started the year with such a dramatic gain, Michael Jackson’s “Rock With You” was the number one song.
     Canadian inflation unexpectedly accelerated on a surge in airfares last month, but underlying price pressures remained steady. The consumer price index in December gained 2 percent from a year ago, up from 1.7 percent in November, driven by a 22 percent surge in the cost of air transportation. Economists had been expected inflation to be unchanged.
Stocks
* Cronos Group Inc. climbed 8.7 percent after CIBC Capital Markets initiated coverage with a sector outperform rating  * Aphria rose 3.4 percent after falling 3 days
* NFI Group advanced 7.8 percent after the company doubled the size of its buyback
* Gold miners fell amid optimism for progress in U.S.-China trade talks that boosted equities
Commodities
* Western Canada Select crude oil traded at a $11.40 discount to WTI
* Gold fell about 0.9 percent to $1,280.94 an ounce
FX/Bonds
* The Canadian dollar rose about 0.03 percent to C$1.3275 per U.S. dollar
* The Canada 10-year government bond yield rose to 2.033%
US
By Randall Jensen and Sarah Ponczek
     (Bloomberg) — Stocks rallied to the highest level in six weeks as signs the U.S. and China are closing in on a trade truce and stronger factory numbers boosted investor confidence in the global economy. Treasuries slid and the dollar gained.
     The S&P 500 Index advanced for a fourth week, the longest streak since August, as technology firms and trade-sensitive companies from Boeing to Caterpillar rose after a report by Bloomberg News said China has offered a path to eliminate its trade gap with America. Major indexes padded earlier gains fueled by the biggest increase in factory output in 10 months.
     Facebook pared its rise after the Washington Post said regulators discussed fining the social-media giant. The dollar strengthened for a fourth day, while the 10-year Treasury yield reached 2.78 percent. West Texas crude pushed above $53 a barrel, and gold slid along with the Japanese yen.
     “Trade has been a weight on the market for some time now, I think the good thing is it’s pretty clear the administration wants a deal,” said Andrew Kenney, the chief investment officer of Delaware Life, which manages $37 billion.
     The newest signal of easing tensions followed a Wall Street Journal report Thursday, which was later denied, that offered fresh hope that Treasury Secretary Steven Mnuchin would be able to de-escalate the spat. Adding to the bullish sentiment has been a slew of better-than-expected economic data this week.
     Elsewhere, the pound weakened, erasing Thursday’s rally when U.K. opposition leader Jeremy Corbyn said that a second referendum remains an option in the Brexit saga.

These are the main moves in markets:
Stocks
* The S&P 500 Index rose 1.3 percent as of 4 p.m. New York time, to the highest since Dec. 6. 
* The Stoxx Europe 600 Index climbed 1.8 percent.
* The MSCI Emerging Market Index climbed 0.7 percent to the highest in more than six weeks.
Currencies
* The Bloomberg Dollar Spot Index gained 0.4 percent.
* The euro fell 0.2 percent at $1.1366.
* The Japanese yen decreased 0.4 percent to 109.72 per dollar.
* The MSCI Emerging Markets Currency Index slipped 0.1 percent.
Bonds
* The yield on 10-year Treasuries rose three basis points to 2.78 percent.
* Germany’s 10-year yield rose two basis points to 0.26 percent.
Commodities
* The Bloomberg Commodity Index gained 1.2 percent to a five-week high.
* West Texas Intermediate crude climbed 3.1 percent to $53.71 a barrel, the highest in five weeks.
–With assistance from Adam Haigh, Todd White and Brendan Walsh.

Have a wonderful weekend!

Be magnificent!

As ever,

 

Carolann

 

Success is a science; if you have the conditions, you get the result.
                                                      -Oscar Wilde, 1854-1900

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:

Benjamin Franklin, birthday, b. 1706

See www.pbs.org/benfranklin/

Insights from Benjamin Franklin:
Three may keep a secret if two of them are dead.

Necessity never made a good bargain.

The definition of insanity is doing the same thing over and over and expecting different results.

In this world nothing is certain but death and taxes.

Early to bed and early to rise, makes a man healthy, wealthy and wise.
PHOTOS OF THE DAY

A member of crew mops the deck of a boat in the Atlantic Ocean. Credit: Zay Yar Lin/Solent News

Traders inspect goldfishes in the ‘Kanko’ wooden trays floating at a pond prior to the first auction of the New Year in Yatomi, Japan. Credit: The Asahi Shimbun/Getty Images

Star trails captured at the 900-year-old Leeds Castle in Kent. Credit: Robert Canis
Market Closes for January 17^th, 2019

Market Index	Close	Change
Dow Jones	24370.10	-21.01   -0.09%
S&P 500	2635.96	+4.03   +0.15%
NASDAQ	7084.465	+49.772   +0.71%
TSX	15211.22	+99.96
		+0.66%

International Markets

Market Index	Close	Change
NIKKEI	20402.27	-40.48
		-0.20%
HANG SENG	26755.63	-146.47
		-0.54%
SENSEX	36374.08	+52.79
		+0.15%
FTSE 100*	6834.92	-19.41
		-0.28%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.995		1.997
CND. 30 Year Bond		2.226		2.222
U.S.    10 Year Bond		2.7504		2.7218
U.S. 30 Year Bond		3.0741		3.0711

Currencies

BOC Close	Today	Previous
Canadian $	0.75295	0.75435
US $	1.32811	1.32564
Euro Rate 1 Euro=		Inverse
Canadian $	1.51292	0.66097
US $	1.13915	0.87784

Commodities

Gold	Close	Previous
London Gold Fix	1292.30	1294.40
Oil
WTI Crude Future	52.07	52.31

Market Commentary:
On this day in 1792, the dollar sign ($) appeared for the first time on a federal document—a U.S. Treasury bond issued to George Washington.
Canada
By Carolina Wilson
     (Bloomberg) — Canadian stocks extended gains for a 10th consecutive session, the longest streak of gains for the benchmark since May 2018. 
     Health-care and energy stocks fell. Canada’s ambassador to China John McCallum warned that the diplomatic feud between the two countries was damaging Beijing’s reputation, as the U.S. joined countries criticizing a Canadian citizen’s death sentence as “politically motivated.” McCallum told reporters Wednesday that China’s prosecutions of Canadian nationals risked undermining its own interests in the world’s business community.
Stocks
* MEG Energy Corp. plunged close to 37 percent after Husky Energy Inc. abandoned its hostile takeover bid after failing to win enough support from shareholders; Husky climbed more than 11 percent
* Peyto Exploration & Development Corp. fell more than 8 percent after cutting its dividend forecast 65%
* Aurora Cannabis Inc. fell about 5.4 percent; on Monday the company entered into a letter of intent to acquire privately held Whistler Medical Marijuana Corporation 
Commodities
* Western Canada Select crude oil traded at a $8.25 discount to WTI
* Gold fell about 0.2 percent.
FX/Bonds
* The Canadian dollar fell about 0.4 percent to C$1.33032 per U.S. dollar
* The Canada 10-year government bond yield strengthened to 1.995%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose for the 10th day, climbing 0.7 percent, or 99.96 to 15,211.22 in Toronto. The index advanced to the highest closing level since Dec. 3. Toronto-Dominion Bank contributed the most to the index gain, increasing 1.0 percent. Husky Energy Inc. had the largest
increase, rising 12.4 percent.
Today, 160 of 239 shares rose, while 76 fell; 10 of 11 sectors were higher, led by financials stocks.
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 40.9933| 0.8| 20/6
Materials | 15.8905| 1.0| 31/18
Energy | 14.5387| 0.5| 25/18
Industrials | 11.7088| 0.7| 23/5
Consumer Discretionary | 6.2796| 1.0| 10/7
Communication Services | 5.2963| 0.6| 7/0
Utilities | 4.7052| 0.8| 12/3
Information Technology | 2.6590| 0.4| 10/0
Real Estate | 0.3791| 0.1| 12/10
Consumer Staples | 0.2534| 0.0| 5/5
Health Care | -2.7470| -0.9| 5/4
================================================================
Top Contributors |Index Points Move| % Change
================================================================
TD Bank | 9.2740| 1.0
Suncor Energy | 8.9860| 1.9
Nutrien | 8.3270| 2.9
Fairfax Financial Holdings | -2.5530| -2.1
MEG Energy | -5.3980| -35.6
Aurora Cannabis | -7.2390| -10.5
================================================================
Biggest Gainers | % Change |Index Points Move
================================================================
Husky Energy | 12.4| 4.1230
Crescent Point Energy | 4.5| 0.7830
Canada Goose | 4.5| 1.1910
================================================================
Biggest Losers | % Change |Index Points Move
================================================================
MEG Energy | -35.6| -5.3980
Peyto Exploration | -10.7| -0.9980
Aurora Cannabis | -10.5| -7.2390

* The Canadian dollar rose 0.17 percent to 1.3278 against the U.S. dollar
* The benchmark 10-year bond rose and the yield fell 0.3 basis points to 1.993 percent
* The S&P 500 Index advanced 0.8 percent
US
By Randall Jensen and Reade Pickert
     (Bloomberg) — Stocks rose following a report that said some Trump administration officials are pushing for an easing of trade tensions with China. Treasuries declined.
     The S&P 500 pushed above its average price for the past 50 days, a level it hadn’t breached since December, after the Wall Street Journal cited people close to discussions saying Treasury Secretary Steven Mnuchin is a proponent of easing tariffs. The Treasury denied the report. Shares had advanced earlier in the session after strong data calmed concern that the world’s largest economy was in danger of contracting.
     The late-session rally was the latest sign that investors consider the months long trade war with China a major headwind for the global economy. The S&P 500 has fallen about 5 percent since President Donald Trump and Chinese President Xi Jinping agreed on a 90-day truce that expires in March.
     “Certainly evidence that the administration is approaching a deal would be good news. If it is credible, we might have to lower our inflation forecast a little since it embeds more tariffs,” said Laura Rosner, senior economist at MacroPolicy Perspectives, in an interview. “We’ve heard noise around trade policy before though, so I would want to make sure the progress happens and sticks.”
Here are some key events coming up:
* Earnings season rolls on with Netflix posting results.
* Data on U.S. industrial production are due.

These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.8 percent as of 4 p.m. New York time.
* The Stoxx Europe 600 Index rose less than 0.1 percent.
* The MSCI Emerging Market Index dipped 0.2 percent.
Currencies
* The Bloomberg Dollar Spot Index was steady.
* The euro was little changed at $1.1394.
* The Japanese yen fell 0.1 percent to 109.22 per dollar.
* The British pound gained 0.7 percent to $1.2980.
* The MSCI Emerging Markets Currency Index dipped 0.2 percent.
Bonds
* The yield on 10-year Treasuries rose two basis point to 2.74 percent.
* Germany’s 10-year yield gained two basis points to 0.24 percent.
* Britain’s 10-year yield added three basis points to 1.34 percent.
Commodities
* The Bloomberg Commodity Index rose 0.2 percent.
* West Texas Intermediate crude was little changed at $52.32 a barrel.
* Gold decreased 0.2 percent to $1,291.10 an ounce.
–With assistance from Eddie van der Walt and Sarah Ponczek.

Have a great night.

Be magnificent!

As ever,

 

Carolann

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

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

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

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

Dear Friends,

Tangents:

Carolann is out of the office this afternoon, I will be writing the newsletter on her behalf.

PHOTOS OF THE DAY

A visitor looks at the Shipwiths & CAIS stand at London Art Fair at the Business Design Centre in Islington. Credit:  Julian Simmonds for The Telegraph

A firefighter builds a snowman on a rooftop in the small Bavarian village Wallgau near Garmisch-Partenkirchen, southern Germany. Credit:  Christof Stache/AFP/Getty Images

Stunt rider Danny MacAskill rides over a bridge in Glencoe, Scotland. Credit: Dave Mackison
Market Closes for January 16^th, 2019

Market Index	Close	Change
Dow Jones	24207.16	+141.57   +0.59%
S&P 500	2616.10	+5.80   +0.22%
NASDAQ	7034.695	+10.861   +0.15%
TSX	15111.26	+64.98
		+0.43%

International Markets

Market Index	Close	Change
NIKKEI	20442.75	-112.54
		-0.55%
HANG SENG	26902.10	+71.81
		+0.27%
SENSEX	36321.29	+2.96
		+0.01%
FTSE 100*	6862.68	-29.29
		-0.42%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.997		1.969
CND. 30 Year Bond		2.222		2.194
U.S.    10 Year Bond		2.7218		2.7112
U.S. 30 Year Bond		3.0711		3.0734

Currencies

BOC Close	Today	Previous
Canadian $	0.75435	0.75380
US $	1.32564	1.32660
Euro Rate 1 Euro=		Inverse
Canadian $	1.51120	0.66172
US $	1.13998	0.87721

Commodities

Gold	Close	Previous
London Gold Fix	1294.40	1292.75
Oil
WTI Crude Future	52.31	52.11

Market Commentary:
Canada
By Aoyon Ashraf
     (Bloomberg) — Canadian stocks extended gains for a ninth consecutive session, the longest winning streak since May 2018.
     The S&P/Toronto Stock Exchange Index closed Wednesday’s session up 0.4 percent. Miners helped lead the advance as metals got a boost from optimism surrounding China’s efforts at economic stimulus. The share moves were supercharged for miners such as First Quantum Minerals Ltd. and Centerra Gold Inc. as they reported preliminary production results and 2019 guidance, which beat analysts estimates. But Iamgold Corp. was among the worst performing miners as its 2019 guidance failed to impress the Street.
     Housing market sales in Vancouver plunged 32 percent last year, driving down prices 6.5 percent over the past six months, according to Canadian Real Estate Association data. Toronto also saw sales fall sharply, but by half as much as Vancouver and with prices in Canada’s biggest city little changed in recent months. While the country’s two most expensive real estate markets have both been hit hard by higher interest rates and tougher mortgage regulations, the data suggest Toronto is faring better and showing signs of stabilizing, while Vancouver continues its slide.
Stocks
* NFI Group Inc. plunged 14 percent after announcing fourth quarter 2018 deliveries, orders and a 2019 outlook 
* First Quantum Minerals gained 15 percent after reporting fourth quarter and 2018 production
* Centerra Gold gained 6.9 percent after a 2019 production outlook beat analyst estimates
* Alamos Gold Inc. rose 7.7 percent in two days after 2018 gold production rose 18 percent 
Commodities
* Western Canada Select crude oil traded at a $8.00 discount to WTI
* Gold gained about 0.3 percent to $1,293.50 an ounce
FX/Bonds
* The Canadian dollar rose about 0.05 percent to C$1.3259 per U.S. dollar
* The Canada 10-year government bond yield rose to 1.991%
US
By Randall Jensen and Reade Pickert
     (Bloomberg) — Stocks gained as signs of a better-than-expected start to the earnings season countered concerns about rising U.S.-China tensions. The dollar rose, while Treasuries declined.
     The S&P 500 advanced for a second day to within a whisker of its average price over the past 50 days, a level it hasn’t breached since early December. Financials buoyed major indexes as Goldman Sachs and Bank of America surged following quarterly reports. The tech-heavy Nasdaq 100 erased gains late in the trading session after a report said U.S. prosecutors are investigating Huawei Technologies for allegedly stealing trade secrets.
     The 10-year Treasury yield rose to around 2.72 percent, while the dollar gained against almost all major currencies. In Europe, Deutsche Bank gained after regulators were said to favor a merger with a European lender. The pound rose versus most peers after Prime Minister Theresa May’s government won a no-confidence vote. West Texas crude rose above $52 a barrel.
    “I think what you’re seeing with the financials and banks in particular is part of just a wider risk-on rally,” said Chris Zaccarelli, chief investment officer at the Independent Advisor Alliance. “I think the financials are benefiting from both being relatively undervalued as well as just getting that cyclical tailwind.”
     The mood in equity markets remains fairly buoyant after China pledged to step up efforts to support growth and European Central Bank President Mario Draghi said the euro area will avoid a recession even though recent data signaled softening momentum. Bank of America’s Chief Financial Officer Paul Donofrio further reassured investors, saying on an earnings call that he’d seen nothing to suggest an economic slowdown is imminent.
     Still, there are plenty of worries to give investors pause before taking this month’s rally further. The political impasse in Washington continues to leave swathes of the federal U.S. government shuttered, and the U.K.’s Brexit drama threatens to impair business confidence in the second-largest European economy.
Here are some important events coming up:
* A confidence motion vote will take place after 7 p.m. in London as the opposition Labour Party tries to force a general election.
* Alcoa, Indian IT company Mindtree, Netflix, Taiwan Semiconductor are posting results.
These are the main moves in markets:
Stocks
* The S&P 500 Index climbed 0.2 percent as of 4 p.m. New York time after rising as much as 0.6 percent.
* The Stoxx Europe 600 Index increased 0.5 percent, the highest in five weeks.
* The U.K.’s FTSE 100 Index sank 0.5 percent.
* The MSCI Emerging Market Index rose 0.5 percent.
Currencies
* The Bloomberg Dollar Spot Index climbed 0.1 percent to the highest in more than a week.
* The euro dipped 0.1 percent to $1.1402.
* The British pound was little changed at to $1.2863.
* The Japanese yen fell 0.2 percent to 108.89 per dollar.
Bonds
* The yield on 10-year Treasuries climbed one basis point to 2.72 percent.
* Germany’s 10-year yield advanced two basis points to 0.22 percent.
* Britain’s 10-year yield gained seven basis points to 1.326 percent, the highest in almost seven weeks.
Commodities
* West Texas Intermediate crude rose 0.5 percent to $52.38 a barrel.
* Gold gained 0.4 percent to $1,293.40 an ounce.

Have a great night.

Be magnificent!

As ever,

Karen

“Education is the most powerful weapon which you can use to change the world.” – Nelson Mandela

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:
Martin Luther King Jr, b. 1929
1943, Pentagon completed.
January 15, 2009 – US Airways Capt. Chelsey Sullenberger guided a jetliner disabled by a bird strike just after takeoff from New York’s LaGuardia Airport to a safe landing in the Hudson River. All 155 people aboard survived. Go to article »

It’s time for the Kumbha Mela. What, you’ve never heard of it? It’s only the largest gathering of humanity in the world. -CNN
The statues on Easter Island hold many mysteries, but researchers think they’ve solved one of them.

PHOTOS OF THE DAY

Britain’s Prince Harry, Duke of Sussex (R) and Meghan, Duchess of Sussex, view a new sculpture erected to mark the 100th  anniversary of the poet Wilfred Owen’s death, during their visit to Birkenhead, northwest England. The Duke and Duchess viewed a new sculpture erected in to mark the 100th anniversary of the poet Wilfred Owen’s death. The statue, by artist Jim Whelan, is entitled ‘Futility’ after one of Owen’s poems, is cast in bronze and represents an exhausted World War One solider. Credit: Paul Eillis/AFP/Getty Images

A dragon lantern is illuminated during a lantern show to mark the upcoming Lunar New Year of the Pig in Hong Kong, China. Credit: Zhou Yi/China News Service/VCG Via Getty Images

Nest Light Artwork ‘Welcome to The Forest’ celebrating Waltham Forest becoming Borough of Culture, London, UK. Credit: Jack Dredd/Rex
Market Closes for January 15^th, 2019

Market Index	Close	Change
Dow Jones	24065.59	+155.75   +0.65%
S&P 500	2610.30	+27.69   +1.07%
NASDAQ	7023.836	+117.920   +1.71%
TSX	15046.28	+70.75
		+0.47%

International Markets

Market Index	Close	Change
NIKKEI	20555.29	+195.59
		+0.96%
HANG SENG	26830.29	+531.96
		+2.02%
SENSEX	36318.33	+464.77
		+1.30%
FTSE 100*	6895.02	+44.46
		+0.65%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.969		1.961
CND. 30 Year Bond		2.194		2.171
U.S.    10 Year Bond		2.7112		2.7006
U.S. 30 Year Bond		3.0734		3.0503

Currencies

BOC Close	Today	Previous
Canadian $	0.75380	0.75324
US $	1.32660	1.32761
Euro Rate 1 Euro=		Inverse
Canadian $	1.51331	0.66081
US $	1.14074	0.87663

Commodities

Gold	Close	Previous
London Gold Fix	1292.75	1288.95
Oil
WTI Crude Future	52.11	51.23

Market Commentary:
On this day in 2008, in the depths of the financial crisis, Citigroup eliminated 4,200 jobs and secured $14.5 billion in fresh capital from a group of investors after it announced a fourth-quarter loss of $9.8 billion.
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite rose for the eighth day, climbing 0.5 percent, or 70.75 to 15,046.28 in Toronto. The index advanced to the highest closing level since Dec. 5. 
     Enbridge Inc. contributed the most to the index gain, increasing 2.0 percent. Precision Drilling Corp. had the largest increase, rising 6.8 percent.
     Today, 140 of 239 shares rose, while 95 fell; 7 of 11 sectors were higher, led by energy stocks.
===============================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 49.4416| 1.8| 37/6
Financials | 24.3232| 0.5| 14/12
Information Technology | 8.9959| 1.5| 9/0
Utilities | 7.5023| 1.3| 11/4
Industrials | 1.3255| 0.1| 18/10
Consumer Staples | 0.6751| 0.1| 5/5
Communication Services | 0.0816| 0.0| 3/4
Consumer Discretionary | -0.5108| -0.1| 9/8
Real Estate | -0.5700| -0.1| 12/9
Health Care | -1.3097| -0.5| 6/3
Materials | -19.1927| -1.2| 16/34
================================================================
Top Contributors |Index Points Move| % Change
================================================================
Enbridge Inc | 13.3800| 2.0
Suncor Energy | 9.1010| 2.0
TD Bank | 8.8820| 1.0
Canadian National | -2.1260| -0.4
Canopy Growth | -2.3840| -2.8
Barrick Gold | -7.5700| -3.7
================================================================
Biggest Gainers | % Change |Index Points Move
================================================================
Precision Drilling | 6.8| 0.3980
CES Energy | 5.2| 0.3150
Husky Energy | 4.7| 1.5030
================================================================
Biggest Losers | % Change | Index Points Move
================================================================
First Majestic | -10.1| -0.9600
Aphria | -5.0| -0.7190
New Gold | -4.9| -0.2890
* The Canadian dollar fell 0.08 percent to 1.3275 against the U.S. dollar
* The benchmark 10-year bond fell and the yield rose 0.5 basis points to 1.969 percent
US
By Randall Jensen and Sarah Ponczek
     (Bloomberg) — Technology stocks fueled a rally after China ratcheted up stimulus to combat slowing growth. The pound turned higher after U.K. politicians voted down a Brexit deal.
     The S&P 500 gained the most in more than a week, rising above the key 2,600 level — which it failed to breach on three occasions last week — for the first time in a month. The tech- heavy Nasdaq 100 recouped two days of losses after China announced more measures to boost its economy, easing concerns about the impact of the trade war. Netflix Inc. surged after saying it planned to raise prices, while the rest of the FAANG cohort rose by at least 2 percent.
     The pound erased a decline against the dollar after British lawmakers overwhelmingly voted down a Brexit deal and planned a confidence vote on Prime Minister Theresa May’s government, spurring speculation Britain’s exit from the European Union could be derailed. The 10-year Treasury yield traded around 2.71 percent, while the dollar advanced against major peers. The euro dropped after European Central Bank President Mario Draghi said the economy is weaker than expected.
     “The market today is reacting favorably to the second-largest economy in the world actually doing stimulus rather than trying to throttle their economy,” said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Co. “Tech has a lot to do with what happens in China also. The tech sector has more revenues coming from China than any other sector in the U.S.”
     The potential stimulus in China and warm welcome it received from markets reflects the delicate balance underpinning 2019’s risk-asset rebound: The same weak macro data that prompted a sell-off at the end of last year has the potential to spur looser monetary policies and therefore ignite a rally.
     Plenty of risks are clouding the outlook, not least the ongoing U.S. shutdown and the increasingly frantic countdown to Brexit.
     Investors must also factor in corporate earnings as the results season gets underway.
Here are some important events coming up:
* Some of the world’s biggest banks announce earnings, including Bank of America, Morgan Stanley and Goldman Sachs. Alcoa, Indian IT company Mindtree, Netflix, Taiwan Semiconductor, American Express and BlackRock also post results. 
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 1.1 percent as of 4 p.m. New York time.
* The Stoxx Europe 600 Index advanced 0.4 percent.
* Germany’s DAX Index gained 0.3 percent.
* The MSCI Asia Pacific Index rose 1.1 percent.
* The MSCI Emerging Market Index gained 1.2 percent.
Currencies
* The Bloomberg Dollar Spot Index climbed 0.2 percent.
* The euro declined 0.5 percent to $1.1407.
* The British pound rose 0.2 percent at $1.284 after falling as much as 1.5 percent.
* The Japanese yen dropped 0.5 percent to 108.67 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 2.71 percent.
* Germany’s 10-year yield decreased two basis points to 0.21 percent, the lowest in more than a week.
* Britain’s 10-year yield declined four basis points to 1.258 percent.
Commodities
* West Texas Intermediate crude climbed 3.1 percent to $52.08 a barrel.
* Gold fell 0.2 percent to $1,289.10 an ounce.
–With assistance from Cormac Mullen, Arie Shapira, Samuel Potter, Reade Pickert and Brendan Walsh.

Have a great night.

Be magnificent!

As ever,

Carolann

Jealousy is all the fun you think they had.
                          -Erica Jong, b. 1942

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:
1784: End of the American Revolution.
January 14^th, 2004 President George W. Bush unveiled a plan to send astronauts to the moon, Mars and beyond.  Go to article »

Albert Schweitzer, philosopher, b. 1869
You must give some time to your fellow men.  Even if it’s a little thing, do something for others- something for which you get no pay but the privilege  of doing it. –Albert Schweitzer.

ICYMI
Our nice neighbors from the north proved it again. Canadian air traffic controllers sent pizza to their US counterparts hit by the shutdown. -CNN
PHOTOS OF THE DAY

A dog enjoys a balmy day out in a carrier on the back of a red Vespa scooter motorcycle in Muswell Hill, North, London. Credit: Jon Rosenthal/Alamy Live News

An Amazigh (Berber) girl participates in a rally to celebrate their new year known as Yennayer in Rabat, Morocco. Credit: Xinhua/Rex

People wearing loin cloths pray as they bathe in ice-cold water in a ceremony to purify their souls and wish for good health in the new year at the Teppozu Inari shrine in Tokyo, Japan. Credit: Issei Kato/Reuters
Market Closes for January 14^th, 2019

Market Index	Close	Change
Dow Jones	23909.84	-86.11   -0.36%
US S&P 500	2581.69	-14.57   -0.36%
NASDAQ	6905.914	-65.562   -0.94%
TSX	14969.69	+30.51
		+0.20%

International Markets

Market Index	Close	Change
NIKKEI	20359.70	+195.90
		+0.97%
HANG SENG	26298.33	-368.94
		-1.38%
SENSEX	35853.56	-156.28
		-0.43%
FTSE 100*	6855.02	-63.16
		-0.91%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.961		1.957
CND. 30 Year Bond		2.171		2.163
U.S.    10 Year Bond		2.7006		2.6954
U.S. 30 Year Bond		3.0503		3.0296

Currencies

BOC Close	Today	Previous
Canadian $	0.75324	0.75391
US $	1.32761	1.32643
Euro Rate 1 Euro=		Inverse
Canadian $	1.52264	0.65676
US $	1.14691	0.87191

Commodities

Gold	Close	Previous
London Gold Fix	1288.95	1291.90
Oil
WTI Crude Future	51.23	51.59

Market Commentary:
On this day in 1982, Ford announced that it would skip paying a quarterly dividend for the first time since the company went public in 1956, a move that would save it $36 million per quarter. Late last week, Ford said it is launching an overhaul of its money-losing European business that is expected to include thousands of job cuts, plant closures and the cancellation of low-profit models.
Canada
By Carolina Wilson
     (Bloomberg) — Canadian stocks edged higher Monday morning as investors watched to see whether they can extend their winning streak to seven sessions.
     Communication services and industrials were the biggest gainers among industry groups in Toronto while information technology and utilities declined the most. Prime Minister Justin Trudeau shuffled his cabinet after one of his senior ministers decided not to seek re-election this fall.
Stocks
* Goldcorp Inc. surged as much as 12 percent after rival Newmont Mining Corp. agreed to buy the company in a deal valued at $10 billion, creating the world’s largest gold miner
* Eldorado Gold Corp. fell as much as 6.4 percent after National Bank Financial downgraded its rating to sector perform from outperform
Commodities
* Western Canada Select crude oil traded at a $6.95 discount to WTI
* Gold rose 0.1 percent to $1,291.72 an ounce; London gold closed at $1288.95.
FX/Bonds
* The Canadian dollar strengthened less than 0.1 percent to C$1.32608 per U.S. dollar
* The Canada 10-year government bond yield rose to 1.961%
US
By Randall Jensen and Reade Pickert
     (Bloomberg) — U.S. stocks declined as weak Chinese trade data fueled concerns about slowing global growth. Treasuries were little changed and the dollar dropped.
     The S&P 500 fell for only the third time this month, led by technology companies after China’s slumping exports fueled worries about the growing impact of the U.S.-China trade war on worldwide growth. Drugmakers slid amid a probe by U.S. lawmakers into pricing, while PG&E plunged 54 percent after the utility said it will file for bankruptcy. Citigroup said the trading environment was starting to improve, helping to boost the bank’s stock and other financial shares.
     The 10-year Treasury yield pared an early decline to trade higher, while the dollar fell against most major currencies. In Europe, the Stoxx Europe 600 Index snapped four days of gains, also dragged lower by tech. The euro was steady following data showing industrial output slowed, and the pound rose before Tuesday’s crucial vote on Brexit.
     “There are two macro events that continue to weigh on market perspective,” Frances Donald, head of macroeconomic strategy at Manulife Asset Management, said in an interview. “The first is where is global growth heading next, and weak Chinese trade data would suggest that global growth is certainly not bottomed as of yet. And the second issue is the persistence of the U.S. government shutdown and how that muddies our perspective about what happens next.”
     This month’s buoyancy in global equities, triggered by signs of progress in U.S.-China trade talks and dovish commentary from Federal Reserve officials, faces a test with the Chinese data underscoring the impact of the trade spat. The next hurdles to clear will be a slew of U.S. bank profit reports at the start of the earnings season, amid worries global growth is slowing. Also weighing on sentiment is the partial U.S government shutdown that’s entered its fourth week.
     Elsewhere, West Texas Intermediate crude traded around $51 a barrel. Emerging-market currencies and shares fell.
Here are some important events coming up:
* Some of the world’s biggest banks announce earnings, including JPMorgan, Bank of America, Wells Fargo, Morgan Stanley and Goldman Sachs. Alcoa, Indian IT company Mindtree, Netflix, Taiwan Semiconductor, American Express and BlackRock also post results. 
These are the main moves in markets:
Stocks
* The S&P 500 Index declined 0.5 percent as of 4 p.m. New York time.
* The Nasdaq Composite Index dropped 0.9 percent, falling for a second session. 
* The Stoxx Europe 600 Index fell 0.5 percent, the first retreat in a week.
* The MSCI All-Country World Index decreased 0.4 percent, the first retreat in more than a week.
* The MSCI Emerging Market Index sank 0.8 percent, the biggest drop in more than a week.
Currencies
* The Bloomberg Dollar Spot Index fell 0.1 percent.
* The euro was steady at $1.1467.
* The Japanese yen gained 0.3 percent to 108.20 per dollar.
* The British pound gained 0.1 percent at $1.2861.
* The MSCI Emerging Markets Currency Index sank 0.1 percent.
Bonds
* The yield on 10-year Treasuries were steady at 2.70 percent
* Germany’s 10-year yield decreased one basis point to 0.23 percent.
* Britain’s 10-year rose basis point to 1.297 percent.
Commodities
* The Bloomberg Commodity Index rose 0.3 percent.
* West Texas Intermediate crude fell 1.9 percent at $50.60 a barrel.
* Gold increased 0.2 percent to $1,291.70 an ounce.
–With assistance from Sarah Ponczek and Eddie van der Walt.

Have a great night.

Be magnificent!

As ever,

 

Carolann

 

All the mind’s activity is easy if it is not subjected to reality.
                                           -Marcel Proust, 1871-1922

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. 11, 1964, the United States surgeon general reported that cigarettes cause lung cancer. Go to article »

“When Breath Becomes Air” by Paul Kalanithi

A 36-year-old neurosurgeon gets diagnosed with Stage IV lung cancer. Turns out, the surgeon is also a brilliant writer who will make you cry in public. This book, published posthumously, will make sure you don’t take your health for granted. -as recommended in the Skimm, January 11, 2019

I read When Breath Becomes Air when it was first published a few years ago and I highly recommend it, a worthwhile selection on this auspicious anniversary day.

PHOTOS OF THE DAY

People watch an immersive video introduction to Qualcomm 5G technology at the Las Vegas Convention Center during CES 2019 Las Vegas. Credit: David McNew/AFP/Getty Images

A highway in southwest China has become an “undersea tunnel”. Supported by the soothing lighting technology, the 700 metre long middle part of the Liupanshui-Weining (Expressway presents a dreamy “undersea world” on top of the tunnel. Patterns of sea water, sharks, shells and corals change dynamically as the vehicle moves forward. It is said it can effectively alleviate the fatigue of drivers. Credit: Imaginechina/Rex

Surfer Nick Wapner poses with his shark bitten surfboard Wednesday in Morrow Bay, California, USA. The 19-year-old California Polytechnic Sate of University was attacked by a great white shark at Montana de Oro State Park. Wapner kicked free and got himself to a hospital, where he received 50 stiches. Credit: David Middlecamp/The Tibune (of San Luis Obispo)
Market Closes for January 11^th, 2019

Market Index	Close	Change
Dow Jones	23995.95	-5.97   -0.02%
S&P 500	2596.13	-0.51   -0.02%
NASDAQ	6971.477	-14.591   -0.21%
TSX	14935.17	+31.68
		+0.21%

International Markets

Market Index	Close	Change
NIKKEI	20359.70	+195.90
		+0.97%
HANG SENG	26667.27	+145.84
		+0.55%
SENSEX	36009.84	-96.66
		-0.27%
FTSE 100*	6918.18	-30.50
		-0.44%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.957		1.9888
CND. 30 Year Bond		2.163		2.191
U.S.    10 Year Bond		2.6954		2.7421
U.S. 30 Year Bond		3.0296		3.0627

Currencies

BOC Close	Today	Previous
Canadian $	0.75391	0.75540
US $	1.32643	1.32381
Euro Rate 1 Euro=		Inverse
Canadian $	1.52067	0.65761
US $	1.14644	0.87227

Commodities

Gold	Close	Previous
London Gold Fix	1291.90	1288.60
Oil
WTI Crude Future	51.59	52.59

Market Commentary:
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite rose for the sixth day, climbing 0.2 percent, or 35.69 to 14,939.18 in Toronto. The index advanced to the highest closing level since Dec. 5. Aurora Cannabis Inc. contributed the most to the index gain, increasing 7.5 percent. Cogeco Communications Inc. had the largest increase, rising 7.5 percent.
     Today, 133 of 240 shares rose, while 99 fell; 8 of 11 sectors were higher, led by financials stocks.
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 9.7774| 0.2| 18/7
Health Care | 7.9777| 2.9| 8/1
Communication Services | 6.0634| 0.7| 7/0
Real Estate | 5.0204| 1.1| 18/4
Consumer Staples | 3.1971| 0.5| 7/3
Materials | 2.6917| 0.2| 23/27
Consumer Discretionary | 2.6850| 0.4| 11/6
Information Technology | 1.7588| 0.3| 8/2
Utilities | -0.9265| -0.2| 7/9
Energy | -1.2527| 0.0| 12/28
Industrials | -1.3093| -0.1| 14/12
================================================================
Top Contributors |Index Points Move| % Change
================================================================
Aurora Cannabis | 4.1840| 7.5
Canadian Natural Resources | 3.8620| 1.3
Restaurant Brands | 3.1820| 2.4
Canadian Tire | -1.2280| -1.9
Canadian National | -2.2800| -0.4
Suncor Energy | -3.3380| -0.7
================================================================
| | Index Points
Biggest Gainers | % Change | Move
================================================================
Cogeco Communications | 7.5| 0.8460
Aurora Cannabis | 7.5| 4.1840
Aphria | 5.4| 0.7180
================================================================
Biggest Losers | % Change |Index Points Move
================================================================
NexGen Energy | -5.0| -0.2920
Seven Generations Energy | -4.9| -1.0770 New Gold | -4.7| -0.2880
* The Canadian dollar rose 0.26 percent to 1.3270 against the U.S. dollar
* The benchmark 10-year bond rose and the yield fell 3 basis points to 1.957 percent
US
By Sarah Ponczek and Reade Pickert
     (Bloomberg) — Stocks finished down slightly Friday as a drop in energy shares and mounting concerns about the ongoing government shutdown balanced out strength among carmakers following an optimistic earnings forecast from General Motors Co. Treasuries rose and the dollar was flat, putting it on track for a fourth straight week of declines.
     All major equity benchmarks were lower — barely. The S&P 500 Index saw a late day surge that left it down less than 0.05 percent, its first day in the red in more than a week, as utilities and energy companies retreated with oil tumbling below $52 a barrel. Meanwhile, auto companies gained around 3 percent on GM’s encouraging outlook. The gauge still posted its third straight weekly advance, climbing 2.5 percent. The post- Christmas rally had reached 10 percent before stalling at 2,600, a level it hasn’t topped since mid-December.
     “Perhaps we’re seeing a bit of a pause here as bulls and bears fight it out at this key technical level,” said Matthew Miskin, a market strategist at John Hancock Investments in Boston.
     The dollar rose early in the session before giving back the gains as investors appeared to be trimming positions heading into the weekend. It’s been pressured, and bonds have been boosted, by the Federal Reserve’s message of patience on further interest-rate hikes. That case was bolstered by U.S. price data showing inflation slowing in line with expectations.
     “The saving grace of all of this is that the U.S. economy has actually withstood the test of 12 months of challenges without buckling over,” said Kevin Caron, a senior portfolio manager at Washington Crossing Advisors.
     The Stoxx Europe 600 Index retreated from an earlier gain to trade lower. In Asia, shares rose in Shanghai, Tokyo, Seoul and Hong Kong amid hopes for a breakthrough on the trade dispute between China and U.S. European debt tracked Treasuries higher.
     The pound advanced even as Prime Minister Theresa May’s office countered reports that Brexit may be delayed.
     Stocks are still on track for big gains this week on signs of progress between the world’s two biggest economies on trade and the Fed’s dovish commentary. Nevertheless, worries remain about economic growth and earnings prospects, while there’s also uncertainty as the U.S. partial government shutdown threatens to extend into a fourth week.
     Chinese Vice Premier Liu He is set to visit Washington on Jan. 30 and 31 for further trade talks. China’s yuan, which slumped last year as trade tensions worsened, is heading for its best week since 2005 — back when the country dropped a fixed peg to the dollar.
These are the main moves in markets:
Stocks
* The S&P 500 Index was down less than 0.05 percent after falling as much as 0.7 percent earlier in the session.
* The Stoxx Europe 600 Index declined 0.1 percent.
* The MSCI All-Country World Index climbed 0.3 percent to the highest in a month.
* The MSCI Emerging Market Index advanced 0.2 percent to the highest in more than five weeks.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro fell 0.3 percent to $1.1466.
* The Japanese yen dipped 0.1 percent to 108.53 per dollar.
* The British pound jumped 0.8 percent to $1.2848, the strongest since November. Bonds
* The yield on 10-year Treasuries tumbled five basis points to 2.6954 percent, the biggest fall in more than a week.
* Germany’s 10-year yield decreased two basis points to 0.239 percent.
* Britain’s 10-year yield increased two basis point to 1.29 percent.
Commodities
* The Bloomberg Commodity Index added 0.2 percent.
* West Texas Intermediate crude fell 1.7 percent to $51.69 a barrel, the first retreat in more than two weeks.
* Gold gained 0.1 percent to $1,288.42 an ounce.
–With assistance from Adam Haigh, Tian Chen and Eddie van der Walt.

Have a wonderful weekend.

Be magnificent!

As ever,

 

Carolann

 

Our attitude towards others determines their attitude towards us.
                                          –Earl Nightingale, 1921-1989

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 this day, 2000 America Online agreed to buy Time-Warner for $165 billion. (Time-Warner decided to spin off AOL in 2009.) Go to article »

Mark Knopfler has a new album, called Down the Road Wherever.    We downloaded it and listened to it  last night – and I think it’s terrific.  It’s an album of varied complexity, some jazz-like tracks, some Celtic laments, and his incredible voice and laconic guitar licks shine through every track – a nostalgic reflection of the old Dire Straits.

PHOTOS OF THE DAY

Attendees take photographs of a curved electronic display wall at the entrance to the LG Electronics Inc. booth at the 2019 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S. Credit: Patrick T. Fallon/Bloomberg

A combination of pictures showing Vietnamese motorists riding under the rain along a street in Hanoi, Vietnam. Credit: Manan Vatsyayana/AFP/Getty Images

A swan transforms into an unusual shape while cleaning itself near Wimpole, Cambridgeshire. Credit: John Brackenbury/Solent News & Photo Agency
Market Closes for January 10^th, 2019

Market Index	Close	Change
Dow Jones	24001.92	+122.80   +0.51%
S&P 500	2596.64	+11.68   +0.45%
NASDAQ	6986.066	+28.989   +0.42%
TSX	14903.49	+98.76
		+0.67%

International Markets

Market Index	Close	Change
NIKKEI	20163.80	-263.26
		-1.29%
HANG SENG	26521.43	+59.11
		+0.22%
SENSEX	36106.50	-106.41
		-0.29%
FTSE 100*	6942.87	+40.96
		+0.59%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.9888		1.978
CND. 30 Year Bond		2.191		2.177
U.S.    10 Year Bond		2.7421		2.7100
U.S. 30 Year Bond		3.0627		3.0029

Currencies

BOC Close	Today	Previous
Canadian $	0.75540	0.75318
US $	1.32381	1.32771
Euro Rate 1 Euro=		Inverse
Canadian $	1.52241	0.65685
US $	1.15000	0.86956

Commodities

Gold	Close	Previous
London Gold Fix	1288.60	1286.45
Oil
WTI Crude Future	52.59	52.36

Market Commentary:
On this day in 1870, John D. Rockefeller founded Standard Oil with $1 million in capital and control of a tenth of the nation’s oil refining.
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite rose for the fifth day, climbing 0.7 percent, or 98.76 to 14,903.49 in Toronto. The index advanced to the highest closing level since Dec. 6. Royal Bank of Canada contributed the most to the index gain, increasing 0.9 percent. Canopy Growth Corp. had the largest increase, rising 12.0 percent.
     Today, 146 of 240 shares rose, while 91 fell; 10 of 11 sectors were higher, led by financials stocks.
================================================================
Top Contributors |Index Points Move| % Change
================================================================
Royal Bank of Canada | 9.0240| 0.9
TD Bank | 8.6140| 1.0
Canopy Growth | 8.1740| 12.0
First Quantum Minerals | -1.4230| -2.6
Agnico Eagle Mines | -1.6020| -1.8
Bausch Health | -2.2560| -3.3
================================================================
Biggest Gainers | % Change |Index Points Move
================================================================
Canopy Growth | 12.0| 8.1740
Aurora Cannabis | 9.9| 5.0350
Pason Systems | 4.3| 0.4390
================================================================
Biggest Losers | % Change | Index Points Move
================================================================
New Gold | -6.8| -0.4530
Pretium Resources | -6.8| -0.9140
Eldorado Gold | -5.9| -0.2830
* The Canadian dollar rose 0.21 percent to 1.3237 against the U.S. dollar
* The benchmark 10-year bond rose and the yield fell 0.1 basis points to 1.976 percent
* The S&P 500 Index advanced 0.5 percent
US
By Sarah Ponczek and Reade Pickert
     (Bloomberg) — Stocks rose Thursday after dipping briefly following Federal Reserve Chairman Jerome Powell’s remarks about shrinking the central bank’s balance sheet. Treasury yields
advanced with the dollar, and West Texas crude continued its bull market surge past $52 a barrel.
     The S&P 500 Index rallied as gains in utilities, industrials and real estate shares overwhelmed weakness in retailers sparked by concerns about a sales slowdown and fears about the potential consequences of the ongoing partial government shutdown. Alcohol distributor Constellation Brands Inc. rebounded from Wednesday’s decline to lead the benchmark on positive comments from analysts at Goldman Sachs Group Inc. and Guggenheim Securities. Macy’s Inc. plunged 18 percent, making it the biggest decliner, after reporting disappointing seasonal sales and earnings.
     “The stronger retailers keep winning, the weaker retailers not so much,” said Hank Smith, co-chief investment officer at Haverford Trust. “I do not think it is a reflection on the consumer. The consumer is strong right now. We’ve had the best wage growth in this cycle, unemployment trends continue to be positive, just look at weekly jobless claims.”
     But to equity investors, Powell’s cryptic comments at the Economic Club of Washington, D.C. about returning the Fed’s balance sheet to a normal level — which were taken to mean that the central bank will be reducing it aggressively in the near future — were the attention grabber.
     “When asked where the Fed’s balance sheet should go from here, he said it should be ‘substantially smaller’ than it is now,” Peter Boockvar, the chief investment officer of Bleakley Financial Group, wrote in an email. “I guess we’ll then wait for his next speech so everyone can then ask him what ‘substantially smaller’ means.”
     With the S&P 500 having gained more than 5 percent in a week following dovish comments on interest rates from the Fed, the lack of any concrete details from trade discussions between China and the U.S. has left few catalysts to drive equity benchmarks significantly higher. And as the fight continues over the proposal to build a wall along the Mexican border, which President Donald Trump visited Thursday to rally support for his plan, worries about the impact of a prolonged government shutdown in America are starting to take hold.
     “In the beginning, we hadn’t gotten much investors calling us or talking about this as a risk,” Mandy Xu, Credit Suisse’s chief equity derivatives strategist, said on Bloomberg Television. “But now as it drags on, definitely we’re seeing more concern.”
     How Bank of America Figures Out What’s Driving the Stock Market The Stoxx Europe 600 Index and U.K.’s FTSE 100 Index rose slightly after Jaguar Land Rover said it plans to slash 4,500 jobs worldwide in response to a sales slowdown caused by Brexit.
     The euro struggled for traction after underwhelming economic data from France. Japanese stocks paced declines across many Asian markets, although the MSCI Asia Pacific Index declined as China inflation figures showed slowing growth. The offshore yuan climbed to the strongest since August.
     Elsewhere, the pound weakened as British Prime Minister Theresa May mulled options for a Brexit “Plan B.”
Here are some events investors may focus on this week:
* Britain’s Parliament this week resumes a debate on the Brexit withdrawal bill, with Prime Minister Theresa May seeking to avoid defeat in a vote set for the week of Jan. 14.
These are the main moves in markets:
Stocks
* The S&P 500 Index climbed 0.5 percent to 2,596.49.
* The Stoxx Europe 600 Index rose 0.1 percent.
* The U.K.’s FTSE 100 Index added 0.3 percent.
* The MSCI Asia Pacific Index fell 0.2 percent, the first retreat in more than a week.
* The MSCI Emerging Market Index jumped 0.4 percent to the highest in five weeks.
Currencies
* The Bloomberg Dollar Spot Index gained 0.3 percent.
* The euro dipped 0.4 percent to $1.1499.
* The British pound declined 0.3 percent to $1.2745.
* The Japanese yen fell 0.3 percent to 108.47 per dollar.
Bonds
* The yield on 10-year Treasuries rose two basis point to 2.7314 percent.
* Germany’s 10-year yield slid two basis points to 0.255 percent, the first retreat in a week and the biggest decrease in more than a week.
* Britain’s 10-year yield climbed one basis points to 1.274 percent.
Commodities
* The Bloomberg Commodity Index dropped 0.5 percent.
* West Texas Intermediate crude increased 0.3 percent to $52.54 a barrel after entering a bull market on Wednesday.
* Gold fell 0.6 percent to $1,286.30 an ounce.
–With assistance from Andreea Papuc, Samuel Potter and Richard Frost.

Have a great night!

Be magnificent!

As ever,

Carolann

Friendship multiplies the good of life and divides the evil.
                                  -Balthasar Gracian, 1601-1658

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