Category: Events

Dear Friends,

Tangents: Epiphany or Twelfth Day, Three Kings Day, Christian calendar.

2005: Former Ku Klux Klan leader Edgar Ray Killen was arrested 41 years after three civil rights workers were slain in Mississippi.
(Killen was later convicted of manslaughter and sentenced to 60 years in prison.)  Go to article »

January 6, 2021: Supporters of US President Donald Trump attack the Unite States Capitol to disrupt certification of the 2020 presidential election, resulting in five deaths and evacuation of the US Congress.

Joan of Arc, Saint, b. 1412.
Kahil Gibran, poet, b.1833
Carl Sandburg, poet, b. 1878
Alan Watts, writer, b. 1916

Amazon’s Alexa is going to space on NASA’s Artemis moon mission.  Alexa, do aliens exist?

Lightning around the North Pole increased dramatically in 2021.  Arctic lightning sounds so cool… until you find out the climate crisis caused it.

Exciting art exhibitions around the world this year.  This lineup is so dreamy. Just picture yourself passing time in a classic gallery in Paris or Venice.

What is the Planck time? 

The U.S. has more hospital beds available than Canada does.

You might be able to think yourself to death.

PHOTOS OF THE DAY

Houses are almost completely submerged under a tide of lava after the Cumbre Vieja volcano erupted on the Canary Island of La Palma. More than 1,300 homes have been destroyed
CREDIT: Desiree Martin/AFP/Getty Images

A Greek Orthodox believer kisses a wooden crucifix thrown into the sea during Epiphany Day celebrations near Athens
CREDIT: Louisa Gouliamaki/AFP/Getty Images

Visitors to the Consumer Electronics Show admire SK group’s Green Forest pavilion demonstrating the South Korean conglomerate’s efforts to reduce emissions
CREDIT: Yonhap/EPA

Market Closes for January 6^th, 2021

Market Index	Close	Change
Dow Jones	36236.47	-170.64
		-0.47%
S&P 500	4696.05	-4.53
		-0.10%
NASDAQ	15080.87	-19.30 -0.13%
TSX	21072.20	+32.54
		+0.15%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28487.87	-844.29
		-2.88%
HANG SENG	23072.86	+165.61
		+0.72%
SENSEX	59601.84	-621.31
		-1.03%
FTSE 100*	7450.37	-66.50 -0.88%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.701	1.640
CND. 30 Year Bond	1.924	1.857
U.S.    10 Year Bond	1.7211	1.7052
U.S. 30 Year Bond	2.0758	2.0947

Currencies

BOC Close	Today	Previous
Canadian $	0.7858	0.7838
US $	1.2726	1.2758
Euro Rate 1 Euro=		Inverse
Canadian $	1.4377	0.6956
US $	1.1297	0.8852

Commodities

Gold	Close	Previous
London Gold Fix	1826.25	1811.40
Oil
WTI Crude Future	79.46	77.85

Market Commentary:
On this day in 1933, at least one good thing came out of the Great Crash. For the first time, the New York Stock Exchange began requiring listed companies to have their annual financial statements prepared by an independent auditor.
Canada
By Stefanie Marotta
(Bloomberg) — Canadian equities rose as gains in energy and financial stocks offset steep losses in materials and technology as investors weight the potential for rate hikes.
The S&P/TSX Composite rose 0.2 percent at 21,072.20 in Toronto.
The move was the biggest since rising 0.5 percent on Dec. 29 and follows the previous session’s decrease of 0.9 percent.
Canadian Natural Resources Ltd. contributed the most to the index gain, increasing 5.1 percent.
Primaris REIT had the largest increase, rising 9.8 percent.
Today, 116 of 241 shares rose, while 124 fell; 6 of 11 sectors were higher, led by financials stocks.
Insights
* So far this week, the index fell 0.7 percent
* The index advanced 18 percent in the past 52 weeks. The MSCI AC Americas Index gained 22 percent in the same period
* The S&P/TSX Composite is 3.3 percent below its 52-week high on Nov. 16, 2021 and 21.8 percent above its low on Jan. 29, 2021
* The S&P/TSX Composite is down 1.3 percent in the past 5 days and rose 1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.1 on a trailing basis and 15 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.6 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.37t
* 30-day price volatility little changed to 15.55 percent compared with 15.55 percent in the previous session and the average of 14.84 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Financials | 58.0094| 0.8| 20/8
* Energy | 54.9145| 1.9| 26/6
* Industrials | 15.1183| 0.6| 19/11
* Consumer Staples | 6.4692| 0.8| 9/2
* Real Estate | 3.2853| 0.5| 17/6
* Consumer Discretionary | 0.7197| 0.1| 8/6
* Communication Services | -0.9241| -0.1| 2/5
* Health Care | -2.3687| -1.5| 2/6
* Utilities | -9.4054| -1.0| 3/13
* Information Technology | -29.1714| -1.4| 2/14
* Materials | -64.0943| -2.7| 8/47
================================================================
| | |Volume VS| YTD
|Index Points| | 20D AVG | Change
Top Contributors | Move |% Change | (%) | (%)
================================================================
* Canadian Natural Resources | 22.9400| 5.1| -37.9| 8.9
* Royal Bank of Canada | 14.5600| 1.1| 10.7| 4.1
* Canadian National | 10.4300| 1.6| -32.0| 0.3
* Franco-Nevada | -7.8280| -3.6| 1.8| -7.9
* Barrick Gold | -9.6360| -3.3| 14.1| -4.8
* Shopify | -20.2500| -1.7| 3.3| -14.6

US
By Vildana Hajric
(Bloomberg) — U.S. stocks drifted lower after swinging between gains and losses as investors reassessed valuations following the Federal Reserve’s latest signal that it will move
aggressively if prices remain elevated.
The S&P 500 edged downward in late trading after attempting to rebound from a 1.9% drop sparked by Fed meeting minutes that suggested the central bank is ready to raise rates sooner and
higher than previously expected.
The hawkish stance hammered the riskiest of assets, from high-priced software stocks to newly-public companies with limited earnings track records.
Treasuries continued a selloff, although the velocity of the downdraft eased with the 10-year rate near 1.73%.
The dollar was slightly stronger.
The Fed’s overtly hawkish stance has roiled financial markets to start the year, with investors recalibrating how to price assets in an environment of expected high economic growth and rising interest rates.
The removal of crisis-era accommodation marks a shift not seen in at least three years, a time that also saw a spike in volatility and ultimately a major stock rout.
While rising rates makes capital more expensive and can threaten earnings power, they also come into an economy that continues to expand rapidly.
“We knew coming into 2022 that the Fed was going to be a creator of volatility within the market and we’re seeing that right out of the gate at the start of the year,” Lindsey Bell, chief markets and money strategist at Ally, said by phone. “The good news is that today things seem to be stabilizing a little bit after yesterday’s knee-jerk reaction.”
Comments by regional Fed presidents provided some additional insight Thursday as trader attempted to predict a possible schedule for tightening.
St. Louis Fed President James Bullard, a more hawkish policy maker, said in a speech the central bank could raise its target interest rate as soon as March.
Meanwhile, San Francisco Fed President Mary Daly said at a virtual event that trimming the Fed balance sheet would come after normalizing the Fed funds rate.
Nicholas Colas, co-founder of DataTrek Research, urged investors to tread “very carefully” the next few days.
“Markets are concerned that we’ve never seen the Federal Reserve both lift interest rates off zero and reduce the size of its balance sheet at the same time.
There was a two-year gap between those two events in the last cycle, so it is a valid concern,” Colas wrote. “We’re not predicting a meltdown, but we get why the market swooned.”
U.S. jobless claims ahead of Friday’s payrolls report did little to change the market mood.
The claims rose to 207,000 last week, the release showed, but stayed within the range of forecasts by 30 economists.
“Labor market strength, coupled with early indications of strong holiday spending, suggests that economic activity has held up reasonably well despite the very rapid spread of the omicron variant,”
Solita Marcelli, UBS chief investment officer for the Americas, said. “The Fed minutes don’t alter our base case expectation that equities will continue to move higher, and for the more cyclical markets to be the relative beneficiaries of above-trend U.S. and global growth.”
Treasuries extended their losses, with the rates between the two-year and 10-year tenors adding at least two basis points each.
Other government bonds also declined.
German 10-year borrowing costs jumped to the highest since May 2019, while their Italian counterparts surged to a June 2020 high.
Likewise, Japan’s benchmark yield climbed to the highest since April and the U.K.’s 10-year yield jumped to an October high.
In Europe, stocks fell, while in Hong Kong, the Hang Seng Tech Index pared back losses to trade higher.
Bitcoin tumbled to $43,200. Crude-oil futures extended gains.
Gold fell.

What to watch this week:
* Fed’s Daly discusses monetary policy on a panel Friday
* ECB’s Schnabel speaks on a panel Saturday

Some of the main moves in markets:
Stocks
* The S&P 500 was little changed as of 4:01 p.m. New York time
* The Nasdaq 100 was little changed
* The Dow Jones Industrial Average fell 0.5%
* The MSCI World index fell 0.6%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro fell 0.2% to $1.1288
* The British pound fell 0.2% to $1.3528
* The Japanese yen rose 0.2% to 115.92 per dollar
Bonds
* The yield on 10-year Treasuries advanced two basis points to 1.73%
* Germany’s 10-year yield advanced two basis points to -0.06%
* Britain’s 10-year yield advanced seven basis points to 1.16%
Commodities
* West Texas Intermediate crude rose 2.1% to $79.49 a barrel
* Gold futures fell 2% to $1,788 an ounce
–With assistance from Emily Graffeo and Srinivasan Sivabalan.

Have a lovely  evening.

Be magnificent!
As ever,

Carolann

The more I see the less I know for sure. –John Lennon, 1940-1980.

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

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

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

Dear Friends,

Tangents:
On Jan. 5, 1914, Henry Ford, head of the Ford Motor Company, introduced a minimum wage scale of $5 per day.  Go to article »

Contrary to what many say, money — and managing it properly — is one of the most important conditions for happiness. — Teresa Ghilarducci.

Everything you need to know about “flurona.” 

I don’t even want to do laundry on Earth, but apparently people want to do it in space.

Area goldfish learns how to drive a smol car. (h/t Mike Smedley)

PHOTOS OF THE DAY
The head of 211kg bluefin tuna that was auctioned for about ¥16.9m ($145,290) is displayed at a sushi restaurant after the first tuna auction of the new year
CREDIT: Issei Kato/Reuters
A tree stands in flood water at the Ouse Washes in Norfolk
CREDIT: Dan Kitwood/Getty Images
Giovanni Bresadola of Italy competes during the qualification at the Four Hills tournament
CREDIT: Jasmin Walter/Getty Images

Market Closes for January 5^th, 2021

Market Index	Close	Change
Dow Jones	36407.11	-392.54
		-1.07%
S&P 500	4700.58	-92.96
		-1.94%
NASDAQ	15100.18	-522.54 -3.34%
TSX	21039.66	-196.86
		-0.93%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	29332.16	+30.37
		+0.10%
HANG SENG	22907.25	-382.59
		-1.64%
SENSEX	60223.15	+367.22
		+0.61%
FTSE 100*	7516.87	+11.72 +0.16%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.640	1.586
CND. 30 Year Bond	1.857	1.825
U.S.    10 Year Bond	1.7052	1.6473
U.S. 30 Year Bond	2.0947	2.0650

Currencies

BOC Close	Today	Previous
Canadian $	0.7838	0.7870
US $	1.2758	1.2707
Euro Rate 1 Euro=		Inverse
Canadian $	1.4428	0.6930
US $	1.1311	0.8841

Commodities

Gold	Close	Previous
London Gold Fix	1811.40	1805.85
Oil
WTI Crude Future	77.85	76.99

Market Commentary:
On this day in 1999, Amazon.com said fourth-quarter sales had totaled $250 million, more than triple the level of the same quarter a year earlier. Fixated on Amazon’s revenue growth (and ignoring its widening net losses), traders went wild. On volume of 31.4 million shares, it was the most active stock on Nasdaq.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell 0.9 percent at 21,039.88 in Toronto.
The move was the biggest since falling 1 percent on Dec. 20 and follows the previous session’s increase of 0.1 percent.
Today, information technology stocks led the market lower, as 9 of 11 sectors lost; 199 of 241 shares fell, while 38 rose.
Brookfield Asset Management Inc. contributed the most to the index decline, decreasing 4.1 percent.
Docebo Inc. had the  largest drop, falling 12.7 percent.
Insights
* In the past year, the index had a similar or greater loss 14 times. The next day, it advanced 10 times for an average 1.2 percent and declined four times for an average 0.8 percent
* The index advanced 19 percent in the past 52 weeks. The MSCI AC Americas Index gained 23 percent in the same period
* The S&P/TSX Composite is 3.5 percent below its 52-week high on Nov. 16, 2021 and 21.6 percent above its low on Jan. 29, 2021
* The S&P/TSX Composite is down 0.9 percent in the past 5 days and rose 2 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19 on a trailing basis and 15.1 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.6 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.4t
* 30-day price volatility rose to 15.55 percent compared with 15.41 percent in the previous session and the average of 14.81 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Information Technology | -66.4475| -3.1| 0/16
* Industrials | -38.3127| -1.5| 1/29
* Materials | -36.4526| -1.5| 9/45
* Financials | -22.0882| -0.3| 6/21
* Utilities | -14.1876| -1.5| 0/16
* Consumer Staples | -12.3797| -1.6| 0/11
* Real Estate | -12.1100| -1.9| 2/21
* Consumer Discretionary | -11.7619| -1.5| 2/12
* Health Care | -5.8943| -3.6| 0/8
* Communication Services | 2.1600| 0.2| 4/2
* Energy | 20.6099| 0.7| 14/18
================================================================
| | |Volume VS| YTD
|Index Points| | 20D AVG | Change
Top Contributors | Move |% Change | (%) | (%)
================================================================
* Brookfield Asset Management | -31.4400| -4.1| 4.7| -3.4
* Shopify | -30.2200| -2.5| 24.7| -13.1
* Constellation Software | -17.6100| -5.6| 15.6| -6.3
* TD Bank | 7.5000| 0.6| 223.6| 3.1
* Enbridge | 9.5860| 1.4| 44.5| 1.7
* Royal Bank of Canada | 14.4600| 1.1| 46.9| 3.0

US
By Jennifer Bissell-Linsk and Vildana Hajric
(Bloomberg) — U.S. equities deepened losses after minutes from the Federal Reserve flagged the chance of earlier and faster interest rate hikes.
The S&P 500 fell 1.9%, led by losses in real estate, while the Nasdaq 100 shed 3.1% as traders increased conviction the U.S. central bank will increase rates at least three times this year.
The 10-year Treasury yield climbed to 1.71% the highest since April.
The dollar was little changed.
“Powell was as explicit as a Fed chair can be at the conclusion of the last meeting,” John Lynch, chief investment officer for Comerica Wealth Management, said. “Statement and presser were a big shift with an accelerated taper and plans for three hikes in 2022.”
Technology stocks plunged for a second day as rising Treasury yields added to growth concerns.
Earlier in the session, the tech rout spread to Asia, with a gauge of Chinese names listed in Hong Kong at a six-year low.
However, Europe was mostly spared, with the Stoxx Europe 600 drifting to a record.
“At first blush the December FOMC minutes read hawkish, and the market reaction supports this,” said Cliff Hodge, chief investment officer for Cornerstone Wealth. “The fact that FOMC participants are discussing faster and more aggressive rate hikes, alongside a faster pace of balance sheet normalization than the last hiking, indicate that the Fed put for the stock market has been repriced lower.”
Markets have largely turned their attention to tightening monetary policy, however, concerns persist about the omicron variant’s threat to global growth.
Hong Kong reimposed social curbs and halted flights from eight countries.
Meanwhile, U.S.  school closings are accelerating as case counts soar.
“Keep in mind the timing of the [FOMC] meeting — even a few weeks ago we were in a very different place than we are now when it comes to omicron spreading. And while most predict a somewhat limited effect on the economy, it remains to be seen if the virus will overshadow the drive to curb inflation,” said Mike Loewengart, managing director of investment strategy at E*TRADE Financial.
So far, data suggest the U.S. economy is maintaining its resiliency in the face of the variant.
Ahead of Friday’s U.S. payrolls, a private jobs report Wednesday showed U.S. companies in December added the most jobs in seven months, indicating employers were able to fill a near-record number of open
positions.
Bitcoin tumbled 4.5% to $44,100, the lowest since its early-December weekend flash crash.
Gold was weaker and oil in New York pared back gains. 
What to watch this week:
* Fed’s Bullard discusses the U.S. economy and monetary policy in an event on Thursday
* Fed’s Daly discusses monetary policy on a panel Friday
* ECB’s Schnabel speaks on a panel Saturday

Some of the main moves in markets:
Stocks
* The S&P 500 fell 1.9% as of 4:03 p.m. New York time
* The Nasdaq 100 fell 3.1%
* The Dow Jones Industrial Average fell 1.1%
* The MSCI World index fell 1.4%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro rose 0.2% to $1.1310
* The British pound rose 0.1% to $1.3549
* The Japanese yen was little changed at 116.12 per dollar
Bonds
* The yield on 10-year Treasuries advanced five basis points to 1.70%
* Germany’s 10-year yield advanced four basis points to -0.08%
* Britain’s 10-year yield was little changed at 1.09%
Commodities
* West Texas Intermediate crude was little changed
* Gold futures fell 0.3% to $1,809.70 an ounce
–With assistance from Emily Graffeo, Srinivasan Sivabalan, Michael MacKenzie and Andreea Papuc.

Have a lovely evening.

Be magnificent!
As ever,

Carolann

How wonderful it is that nobody need wait a single moment before starting to improve the world. –Anne Frank, 1929-1945.

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: Happy New Year!

1974 President Richard Nixon refused to hand over tape recordings and documents subpoenaed by the Senate Watergate Committee.  Go to article »

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

RIP, your BlackBerry. (h/t Ellen Kominers)

Mercedes unveils new electric car concept with parts made of sustainable materials like mushroom fibers, ground up cacti and food scraps.  Finally, a car with a flavor profile!

Sweetgreen, a fancy salad chain, is selling a salad subscription.  Fancy salads are an important part of the “new year, new me” fantasy, so the timing here is impeccable. 

RBG’s private library is coming to auction.

Germany enlists sheep, goats to pitch vaccines.

PHOTOS OF THE DAY
Snow covers houses in Corbridge, near Hexham in Northumberland, after weather forecasters warned that parts of the UK will face localised blizzard conditions and up to 80mph winds as the mild seasonal highs of the past few days are replaced by a cold front
CREDIT: Owen Humphreys/PA
People visit Kanda Myojin Shrine to offer new year prayers on the first business day of the year
CREDIT: Kazuhiro Nogi/AFP/Getty Images
Participants recover at the finish line during the women’s mass start free 10km event at the Tour de Ski in Val di Fiemme
CREDIT: Giovanni Auletta/AP

Market Closes for January 4^th, 2021

Market Index	Close	Change
Dow Jones	36799.65	+214.59
		+0.59%
S&P 500	4793.54	-3.02
		-0.06%
NASDAQ	15622.72	-210.08 -1.33%
TSX	21236.52	+13.68
		+0.06%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	29301.79	+510.08
		+1.77%
HANG SENG	23289.84	+15.09
		+0.06%
SENSEX	59855.93	+672.71
		+1.14%
FTSE 100*	7505.15	+120.61 +1.63%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.586	1.428
CND. 30 Year Bond	1.825	1.679
U.S.    10 Year Bond	1.6473	1.5101
U.S. 30 Year Bond	2.0650	1.9032

Currencies

BOC Close	Today	Previous
Canadian $	0.7870	0.7912
US $	1.2707	1.2639
Euro Rate 1 Euro=		Inverse
Canadian $	1.4341	0.6973
US $	1.1287	0.8860

Commodities

Gold	Close	Previous
London Gold Fix	1805.85	1805.85
Oil
WTI Crude Future	76.99	76.99

Market Commentary:
On this day in 1865, the New York Stock Exchange opened its first permanent building at the corner of Broad and Wall Streets in Manhattan, after decades of shifting from one rented or borrowed space to another.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite advanced slightly to 21,236.52 in Toronto.
The move follows the previous session’s decrease of 0.3 percent.
Toronto-Dominion Bank contributed the most to the index gain, increasing 2.4 percent.
Lithium Americas Corp. had the largest increase, rising 16.4 percent.
Today, 118 of 240 shares rose, while 121 fell; 6 of 11 sectors were higher, led by financials stocks.
Insights
* The index advanced 22 percent in the past 52 weeks. The MSCI AC Americas Index gained 27 percent in the same period
* The S&P/TSX Composite is 2.6 percent below its 52-week high on Nov. 16, 2021 and 22.8 percent above its low on Jan. 29, 2021
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.9 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.2 on a trailing basis and 15.2 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.6 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.4t
* 30-day price volatility fell to 15.41 percent compared with 15.44 percent in the previous session and the average of 14.77 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Financials | 122.6369| 1.8| 22/6
* Energy | 67.3657| 2.4| 31/1
* Industrials | 12.2938| 0.5| 17/13
* Consumer Discretionary| 10.7664| 1.4| 10/4
* Health Care | 3.2652| 2.0| 8/0
* Communication Services| 1.1476| 0.1| 3/4
* Utilities | -6.9595| -0.7| 2/14
* Consumer Staples | -6.9780| -0.9| 3/8
* Real Estate | -9.6576| -1.5| 3/19
* Materials | -22.6257| -0.9| 15/40
* Information Technology| -157.5661| -6.9| 4/12
================================================================
| | |Volume VS| YTD
| Index Points | | 20D AVG | Change
Top Contributors | Move |% Change | (%) | (%)
================================================================
* TD Bank | 29.6300| 2.4| 376.4| 2.4
* Royal Bank of Canada | 25.3100| 1.9| 42.2| 1.9
* Bank of Montreal | 21.6900| 3.6| 128.5| 3.6
* Couche-Tard | -5.1870| -1.7| 41.5| -1.7
* Nutrien | -15.0000| -4.0| 120.9| -4.0
* Shopify | -147.7000| -10.9| 101.9| -10.9
US
By Vildana Hajric and Peyton Forte
(Bloomberg) — U.S. stocks slipped from an all-time high after worries over rising interest rates sparked a selloff in tech shares.
Treasuries fell and the yen dropped to the lowest since 2017.
The S&P 500 was little changed Tuesday as data showed mixed signs on U.S. inflation ahead of three expected rate hikes from the Federal Reserve this year.
Prices paid by manufacturers in December came in sharply lower than expected, adding to signs inflationary pressure may have peaked in some areas.
However, data showing a record U.S. job quit rate added to concerns over wage inflation.
The tech-heavy Nasdaq 100 fell 1.3% with Tesla Inc. shedding 4.2%.
Cathie Wood’s flagship ARK Innovation ETF plunged 4.4% and a fund tracking newly public companies dropped 4.0%.
The losses came as a rout in U.S. bonds continued Tuesday with the 10-year Treasury yield up two basis points to 1.65% after surging 12 basis points on Monday.
“The 10-year Treasury yield is on fire and that could be weighing on sentiment for growth stocks, especially expensive ones, such as tech and semis,” Mike Bailey, director of research at FBB Capital Partners, said.
Matt Maley, chief market strategist at Miller Tabak + Co, added the slide seemed like a delayed response to the rise in long-term interest rates.
“Yesterday’s big bounce in the 10-year yield did not seem to have a definitive catalyst, so some investors thought it might not hold,” he said. “Since the rise is holding today, even extending, stock investors are finally reacting to it.”
Markets anticipate an uptick in volatility as they navigate through the omicron variant, supply-chain disruptions and more central banks winding back pandemic stimulus.
More than one million people in the U.S. were diagnosed with Covid-19 on Monday, a new global daily record.
“With bond yields moving higher the market is adjusting tech lower,” Luke Hickmore, investment director at Standard Life Investments said. “Tech is suffering from the long duration nature of these assets — i.e. it is generally a long time until the current valuation is supported by earnings in a normal multiple.”
Traders expect tightening from the Fed to boost yields and reset equity valuations.
Meanwhile, this week’s U.S. December payroll data and minutes from the Fed’s meeting last month may throw more light on the pace of such a shift.
Bitcoin rose to about $46,200. Gold climbed.
The dollar was little changed.
And crude oil in New York gained after OPEC+ agreed to revive more oil supplies.
What to watch this week:
* FOMC meeting minutes scheduled for release Wednesday
* Fed’s Bullard discusses the U.S. economy and monetary policy in an event on Thursday
* Fed’s Daly discusses monetary policy on a panel Friday
* ECB’s Schnabel speaks on a panel Saturday

Some of the main moves in markets:
Stocks
* The S&P 500 was little changed as of 4:02 p.m. New York time
* The Nasdaq 100 fell 1.3%
* The Dow Jones Industrial Average rose 0.6%
* The MSCI World index rose 0.2%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro was little changed at $1.1286
* The British pound rose 0.4% to $1.3531
* The Japanese yen fell 0.7% to 116.11 per dollar
Bonds
* The yield on 10-year Treasuries advanced two basis points to 1.65%
* Germany’s 10-year yield was little changed at -0.12%
* Britain’s 10-year yield advanced 11 basis points to 1.08%
Commodities
* West Texas Intermediate crude rose 1.2% to $76.97 a barrel
* Gold futures rose 0.9% to $1,815.50 an ounce
–With assistance from Denitsa Tsekova and Emily Graffeo.
Have a lovely evening.

Be magnificent!

As always,

Carolann

Defeat is not the worst of failures. Not to have tried is the true failure. –George Edward Woodberry, 1855-1930.

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 New Year!

Carolann is away from office this afternoon, I’ll be writing the newsletter on behalf of her.

PHOTOS OF THE DAY
Sydney harbour
CREDIT: Wendell Teodoro/Getty Images
Betty White was best-known as Rose Nylund in the Golden Girls. 1922-2021
CREDIT: PR
A fieldfare at the Tsitsin botanical garden in Moscow, Russia
CREDIT: Vasily Fedosenko/Tass

Market Closes for December 31^st, 2021

Market Index	Close	Change
Dow Jones	36338.30	-59.78
		-0.16%
S&P 500	4766.18	-12.55
		-0.26%
NASDAQ	15644.97	-96.59 -0.61%
TSX	21222.84	-71.80
		-0.34%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28791.71	-115.17
		-0.40%
HANG SENG	23397.67	+285.66
		+1.24%
SENSEX	58253.82	+459.50
		+0.80%
FTSE 100*	7384.54	-18.47 -0.25%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.428	1.449
CND. 30 Year Bond	1.679	1.716
U.S.    10 Year Bond	1.5101	1.5083
U.S. 30 Year Bond	1.9032	1.9170

Currencies

BOC Close	Today	Previous
Canadian $	0.7912	0.7849
US $	1.2639	1.2741
Euro Rate 1 Euro=		Inverse
Canadian $	1.4371	0.6959
US $	1.1370	0.8795

Commodities

Gold	Close	Previous
London Gold Fix	1805.85	1794.25
Oil
WTI Crude Future	76.99	76.99

Market Commentary:
     On this day in 1857, Britain’s Queen Victoria decided to make Ottawa the capital of Canada. Go to article »
Canada
By Geoffrey Morgan
(Bloomberg) — Canadian stocks closed out their best year in over a decade amid a rebound in oil prices, despite the S&P/TSX Composite Index dipping on the last trading day of 2021.
The benchmark rose 22% this year, its best annual performance since a roughly 31% rise in 2009.
It was buoyed by a resurgence in energy stocks, which had underperformed for several years but rebounded in 2021 along with crude prices as demand bounced back from the pandemic.
“Coincidentally, (2009) was the year coming out of the last bear market,” said Craig Basinger, chief market strategist at Purpose Investments Inc. in Toronto, referring to the recovery that followed the 2008 financial crisis. Basinger said Canada’s benchmark index performs well during economic rebounds, and did so again this year as the world recovered from the initial outbreak of the Covid-19 pandemic.
Despite its best year in over a decade, the key Canadian index still underperformed its U.S. counterpart by about five percentage points.
The S&P 500 Index rose 27% and posted 70 record highs in 2021.
Canada’s financial and energy industries account for the majority of the rise in the Composite index this year, said Jeff Mo, portfolio manager with Mawer Investment Management in Calgary. “It’s a very narrow universe, where you have a situation where two sectors are contributing to 75% of the performance,” he said, adding that U.S. equity performance was more broad-based.
Insights
* This year, the index rose 22%, heading for the best year in at least 10 years
* This quarter, the index rose 5.7%
* This month, the index rose 2.7%
* So far this week, the index was little changed
* The index advanced 22% in the past 52 weeks. The MSCI AC Americas Index gained 24% in the same period
* The S&P/TSX Composite is 2.6% below its 52-week high on Nov. 16, 2021 and 22.7% above its low on Jan. 29, 2021
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.2 on a trailing basis and 16.1 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.6% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.41t
* 30-day price volatility rose to 15.44% compared with 15.42% in the previous session and the average of 14.54% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Information Technology | -43.3700| -1.9| 2/14
* Financials | -34.7686| -0.5| 5/22
* Consumer Staples | -4.0291| -0.5| 3/9
* Health Care | -2.5149| -1.5| 2/6
* Industrials | -0.8321| 0.0| 14/15
* Consumer Discretionary | -0.5066| -0.1| 7/6
* Communication Services | -0.4283| 0.0| 5/2
* Materials | 1.7716| 0.1| 32/18
* Real Estate | 1.9005| 0.3| 20/3
* Utilities | 2.0252| 0.2| 13/3
* Energy | 8.9385| 0.3| 24/8
================================================================
| | |Volume VS| YTD
|Index Points | | 20D AVG | Change
Top Contributors | Move | % Change | (%) | (%)
================================================================
* Shopify | -31.0200| -2.2| -50.7| 21.2
* Brookfield Asset Management | -7.7050| -1.0| -5.9| 46.3
* TD Bank | -3.2480| -0.3| 0.8| 34.8
* Imperial Oil | 1.2610| 1.9| -37.7| 88.8
* Suncor Energy | 1.5960| 0.5| -69.2| 48.2
* Enbridge | 1.9440| 0.3| -59.3| 21.4

US
By Stephen Kirkland and Emily Graffeo
(Bloomberg) — U.S. stocks ended the year with a rally few predicted back in January, even after a slide late in the final trading day.
The S&P 500 and Nasdaq 100 both fell on Friday in a choppy session with thin volumes. But that performance follows a banner year for equities, with the S&P 500 and Nasdaq 100 surging about 27%, surpassing even the most bullish outlooks at the start of the year.
The benchmark S&P 500 closed the year out at 4766, down less than 30 points from its 70th record close reached mid-week. That’s still a far cry from levels predicted by analysts in a January survey, where the top projection was 4,400 and average of 22 estimates was 4,074.
Trading was light as investors drew a line under a strong year for global equities as economies recovered from the pandemic.
Bond investors are nursing losses as many central banks move toward tighter monetary settings to fight inflation.
How the coronavirus and those policy shifts shape economic reopening are key for the outlook.
“If there is one thing that we have learned this year, it is that the U.S. economy has proven to be resilient in the face of pandemic-related challenges,” said Brett Ryan, senior U.S. economist at Deutsche Bank. While omicron and fiscal uncertainty present risks, “the economy would still expand at a well-above- trend pace even if these risks are realized,” he said
Elsewhere, the dollar was lower against most of its Group- of 10-peers on Friday, while oil declined, paring the biggest annual advance since 2009.
Bitcoin rallied for a second session, paring its biggest monthly drop since May to trade around $48,000.
Traders are continuing to monitor China’s struggling property developers. A Chinese state-owned enterprise will take a 29% stake in China South City Holdings Ltd., in the latest sign of the authorities stepping up support for ailing real- estate firms.
The spotlight was also on talks by telephone between U.S. President Joe Biden and Russian President Vladimir Putin. The Kremlin said Putin was satisfied with the outcome of the discussions. The U.S. and its allies have raised alarm over a potential Russian invasion of Ukraine.
Some of the main moves in markets:
Stocks
* The S&P 500 fell 0.3% as of 4:00 p.m. New York time
* The Nasdaq 100 fell 0.7%
* The Dow Jones Industrial Average fell 0.2%
* The MSCI World index was little changed
Currencies
* The Bloomberg Dollar Spot Index fell 0.3%
* The euro rose 0.5% to $1.1378
* The British pound rose 0.2% to $1.3530
* The Japanese yen was unchanged at 115.08 per dollar
Bonds
* The yield on 10-year Treasuries was little changed at 1.51%
* Germany’s 10-year yield was little changed at -0.18%
* Britain’s 10-year yield was little changed at 0.97%
Commodities
* West Texas Intermediate crude fell 1.9% to $75.52 a barrel
* Gold futures rose 0.9% to $1,830.90 an ounce
–With assistance from Sunil Jagtiani, Vildana Hajric and Robert Brand.

Have a wonderful weekend.

Be magnificent!

As ever,

Isabel

I am always doing what I cannot do yet, in order to learn how to do it. – Vincent Van Gogh, 1853 – 1890

Assistant to Carolann Steinhoff,

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 away from office this afternoon, I’ll be writing the newsletter on behalf of her.

PHOTOS OF THE DAY
The winter funfair in full flow at the Liverpool Waterfront
CREDIT: Peter Byrne/PA
Germany’s Karl Geiger soars through the air during the trial round of the Four Hills ski jumping tournament
CREDIT: Christof Stache/AFP/Getty
An aerial view of Skanderbeg Square illuminated with decorations and surrounded by a Christmas market
CREDIT: Gent Shkullaku/AFP/Getty

Market Closes for December 30^th, 2021

Market Index	Close	Change
Dow Jones	36398.08	-90.55
		-0.25%
S&P 500	4778.73	-14.33
		-0.30%
NASDAQ	15741.57	-24.65 -0.16%
TSX	21294.64	-50.01
		-0.23%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28791.71	-115.17
		-0.40%
HANG SENG	23112.01	+25.47
		+0.11%
SENSEX	57794.32	-12.17
		-0.02%
FTSE 100*	7403.01	-17.68 -0.24%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.449	1.484
CND. 30 Year Bond	1.716	1.768
U.S.    10 Year Bond	1.5083	1.5496
U.S. 30 Year Bond	1.9170	1.9610

Currencies

BOC Close	Today	Previous
Canadian $	0.7849	0.7818
US $	1.2741	1.2790
Euro Rate 1 Euro=		Inverse
Canadian $	1.4428	0.6931
US $	1.1324	0.8831

Commodities

Gold	Close	Previous
London Gold Fix	1794.25	1805.20
Oil
WTI Crude Future	76.99	76.56

Market Commentary:
On Dec. 30, 1972, the United States halted its heavy bombing of North Vietnam.  Go to article »
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell 0.2 percent at 21,294.64 in Toronto.
The move was the biggest since falling 1 percent on Dec. 20 and follows the previous session’s increase of 0.5 percent.
Brookfield Asset Management Inc. contributed the most to the index decline, decreasing 1.1 percent.
Energy Fuels Inc/Canada had the largest drop, falling 4.6 percent.
Today, 111 of 241 shares fell, while 125 rose; 5 of 11 sectors were lower, led by energy stocks.
Insights
* This year, the index rose 22 percent, heading for the best year in at least 10 years
* This quarter, the index rose 6.1 percent
* This month, the index rose 3.1 percent
* So far this week, the index rose 0.3 percent
* The index advanced 21 percent in the past 52 weeks. The MSCI AC Americas Index gained 25 percent in the same period
* The S&P/TSX Composite is 2.3 percent below its 52-week high on Nov. 16, 2021 and 23.1 percent above its low on Jan. 29, 2021
* The S&P/TSX Composite is up 1.8 percent in the past 5 days and rose 3.1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.3 on a trailing basis and 16.1 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.6 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.42t
* 30-day price volatility little changed to 15.42 percent compared with 15.42 percent in the previous session and the average of 14.49 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Energy | -24.9963| -0.9| 5/27
* Financials | -21.0168| -0.3| 10/17
* Industrials | -16.3780| -0.6| 9/20
* Consumer Discretionary | -1.0732| -0.1| 7/7
* Utilities | -0.5082| -0.1| 9/6
* Communication Services | 0.1490| 0.0| 5/2
* Health Care | 0.5152| 0.3| 7/1
* Real Estate | 1.2305| 0.2| 20/2
* Consumer Staples | 1.3665| 0.2| 5/6
* Information Technology | 3.9375| 0.2| 10/6
* Materials | 6.7638| 0.3| 38/17
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
* Brookfield Asset Management | -8.3060| -1.1| -69.9| 47.7
* Canadian National | -4.1680| -0.6| -59.0| 10.9
* Agnico Eagle Mines | 2.5670| 2.3| -51.2| -25.2
* Couche-Tard | 2.7650| 0.9| -46.4| 22.9
* Barrick Gold | 5.2420| 1.8| -43.6| -15.7

US
By Jessica Menton
(Bloomberg) — U.S. stocks drifted away from all-time highs Thursday, as high-flying technology shares lost momentum in the afternoon to push the S&P 500 mildly lower.
The benchmark gauge edged down 0.3%, falling to session lows in the final minutes of trading after it notched its 70^th record close of 2021 on Wednesday.
Seven of the 11 sectors in the index finished lower, led by declines in technology while real estate stocks rose.
The tech-heavy Nasdaq 100 fell 0.4%, dragged lower by declines in Big Tech companies like Microsoft Corp. and Apple Inc.
The Dow Jones industrial average also lost 0.3%, snapping its six-day winning streak.
Trading remained quiet Thursday as the year draws to a close, with many investors having closed out their positions for 2021.
The S&P 500 is up 5% this month, leaving it 27% higher for the year as fears ebb about the potential impact of the fast- spreading omicron variant of Covid-19.
The index is on pace for its best annual percentage gain since 2019, when it rallied nearly 29%.
“There’s certainly lower trading volumes this week due to the holidays,” David Capitão Morais, portfolio manager at Brainvest Wealth Management, said in an interview. “Seasonality is also playing an important role for markets right now, with this month on pace for one of the best Decembers for stocks in years.”
The final trading week of the year sets up a bullish time for investors. Monday kicked off an annual event known as the “Santa Claus rally,” which includes the last five trading sessions of the year and the first two trading days of the new year.
Since 1969, the S&P 500 has averaged a gain of 1.3% over the seven-day span, according to The Stock Trader’s Almanac.
The S&P 500 rose 1.4% on Monday, its best start to the so-called Santa Claus rally in 21 years, according to LPL Financial.
Investors have been encouraged by reports that have said the omicron variant appears to cause less severe symptoms.
Data Thursday showed applications for U.S. state unemployment benefits unexpectedly fell last week, indicating still-solid labor demand despite the latest wave of coronavirus infections. New unemployment claims are near their lowest level since 1969.
Still, investors are uncertain about the economic impact of omicron, which is spreading fast. Data showed global Covid-19 infections rose by almost a third to a record 1.73 million on Wednesday.
Shares of U.S. airlines and other travel-related companies were mixed Thursday as rising omicron cases forced the cancellation of hundreds more flights.
Cruise line stocks including Carnival Corp. and Royal Caribbean Cruises Ltd. dipped after the Centers for Disease Control and Prevention said cruise ships should be avoided even if passengers are vaccinated due to the risk of Covid-19.

Sectors in Focus
* Biogen Inc. shares fell after Samsung Group denied a Korean media report that the U.S. drugmaker was in talks to sell itself to the company.
* Chinese companies listed in the U.S. rebounded Thursday after a five-day slump as investors piled back into stocks hurt by Beijing’s crackdown this year.
* Lexicon Pharmaceuticals climbed 6.5% in extended trading after saying it has submitted a new drug application to the FDA seeking approval for sotagliflozin for the treatment of heart failure in adults with type 2 diabetes.
* Didi Global Inc. shares fell after the Chinese ride-hailing firm reported a $4.7 billion loss for the third quarter.
–With assistance of Bloomberg Automation.
Have a nice evening.

Be magnificent!

As ever,

Isabel

Our deeds determine us, as much as we determine our deeds. – Mary Ann Evans “George Eliot”, 1819-1880.

Assistant to Carolann Steinhoff,

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 away from office this afternoon, I’ll be writing the newsletter on behalf of her.

PHOTOS OF THE DAY
Photographing ice sculptures at the Harbin Ice and Snow World. The 38th Harbin ice festival will begin on 5 January
CREDIT: AFP/Getty
A winter swimmer takes to the water of the half-frozen Houhai lake
CREDIT: Wu Hong/EPA
A woman photographs recently unloaded new cars covered in several inches of ice after the ship carrying them was caught in severe weather in the Sea of Japan
CREDIT: Tatiana Meel/Reuters

Market Closes for December 29^th, 2021

Market Index	Close	Change
Dow Jones	36488.63	+90.42
		+0.25%
S&P 500	4793.06	+6.71
		+0.14%
NASDAQ	15766.21	-15.51 -0.10%
TSX	21344.65	+114.97
		+0.54%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28906.88	-162.28
		-0.56%
HANG SENG	23086.54	-194.02
		-0.83%
SENSEX	57806.49	-90.99
		-0.16%
FTSE 100*	7420.69	+48.59 +0.66%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.484	1.438
CND. 30 Year Bond	1.768	1.747
U.S.    10 Year Bond	1.5496	1.4927
U.S. 30 Year Bond	1.9610	1.9052

Currencies

BOC Close	Today	Previous
Canadian $	0.7818	0.7806
US $	1.2790	1.2811
Euro Rate 1 Euro=		Inverse
Canadian $	1.4514	0.6890
US $	1.1348	0.8812

Commodities

Gold	Close	Previous
London Gold Fix	1805.20	1792.80
Oil
WTI Crude Future	76.56	73.74

Market Commentary:
1999: The Nasdaq composite index closed above 4,000 for the first time, ending the day at 4,041.46.
Go to article »
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the fifth day, climbing 0.5 percent, or 114.97 to 21,344.65 in Toronto.
The index advanced to the highest closing level since Nov. 25.
Brookfield Asset Management Inc. contributed the most to the index gain, increasing 2.1 percent.
Interfor Corp. had the largest increase, rising 13.5 percent.
Today, 147 of 241 shares rose, while 91 fell; 8 of 11 sectors were higher, led by financials stocks.
Insights
* This year, the index rose 22 percent, heading for the best year in at least 10 years
* This quarter, the index rose 6.3 percent
* This month, the index rose 3.3 percent
* The index advanced 21 percent in the past 52 weeks. The MSCI AC Americas Index gained 26 percent in the same period
* The S&P/TSX Composite is 2.1 percent below its 52-week high on Nov. 16, 2021 and 23.4 percent above its low on Jan. 29, 2021
* The S&P/TSX Composite is up 3.9 percent in the past 5 days and rose 1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.3 on a trailing basis and 16.2 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.5 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.4t
* 30-day price volatility rose to 15.42 percent compared with 15.33 percent in the previous session and the average of 14.29 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Financials | 70.3651| 1.0| 21/7
* Energy | 29.8423| 1.1| 25/6
* Industrials | 11.4363| 0.4| 18/12
* Consumer Discretionary | 9.5388| 1.2| 11/3
* Real Estate | 8.0454| 1.2| 22/0
* Utilities | 5.9560| 0.6| 9/6
* Communication Services | 5.6211| 0.6| 5/2
* Consumer Staples | 3.2755| 0.4| 7/5
* Materials | -2.6179| -0.1| 17/38
* Health Care | -8.0249| -4.7| 2/6
* Information Technology | -18.4621| -0.8| 10/6
================================================================
| | |Volume VS| YTD
|Index Points | | 20D AVG | Change
Top Contributors | Move | % Change | (%) | (%)
================================================================
* Brookfield Asset Management | 15.8100| 2.1| -36.5| 49.3
* TD Bank | 15.1200| 1.3| -26.0| 35.6
* Bank of Nova Scotia| 12.1600| 1.6| 61.6| 32.6
* Barrick Gold | -3.0480| -1.1| 33.3| -17.2
* Tilray | -3.2420| -10.5| 36.0|n/a
* Shopify | -24.9900| -1.8| -22.2| 23.9

US
By Stephen Kirkland and Vildana Hajric
(Bloomberg) — U.S. stocks rose in thin trading as the slump in tech stocks abated amid speculation the economic recovery can weather the surge in coronavirus cases.
Treasuries fell along with the dollar.
After spending much of the session little changed, the S&P 500 rose to reach the 70th record close of the year.
The Dow Jones Industrial Average also ended the day at an all-time high, while the Russell 2000, a proxy for the reopening trade, rebounded.
The tech-heavy Nasdaq 100, too, staged a comeback, erasing earlier losses.
Omicron fears are easing on growing evidence that the fast-spreading strain leads to milder symptoms, even as worldwide Covid-19 cases rose above 1 million for a second straight day.
Coronavirus developments along with Federal Reserve policy tightening and China’s outlook rank among the key risks for 2022.
“We just might get a relatively calm last week of the year after all,” Matt Maley, chief market strategist for Miller Tabak + Co. wrote. “That said, thin markets can change on a dime, so investors will want to stay nimble.”
Treasuries fell, sending the 10-year yield up as much as 7.4 basis points to 1.55%, breaching the 50-day moving average that has contained it since Nov. 29.
The dollar weakened against all of its Group-of-10 peers except the yen.
“I think the economy is going to be very strong, I think the Fed will continue its policy of keeping rates very low, disappointing aggressive people,” Margie Patel, senior portfolio manager at Allspring Global Investments, said on Bloomberg TV.  “And I think the stock market may well surprise on the upside and have another very, very good year after a very good year in ‘21.”
What to watch this week:
* U.S. initial jobless claims, Thursday
Some of the main moves in markets:
Stocks
* The S&P 500 rose 0.1% as of 4 p.m. New York time
* The Nasdaq 100 was little changed
* The Dow Jones Industrial Average rose 0.2%
* The MSCI World index was little changed
Currencies
* The Bloomberg Dollar Spot Index fell 0.2%
* The euro rose 0.3% to $1.1348
* The British pound rose 0.4% to $1.3484
* The Japanese yen fell 0.1% to 114.97 per dollar
Bonds
* The yield on 10-year Treasuries advanced seven basis points to 1.55%
* Germany’s 10-year yield advanced five basis points to -0.18%
* Britain’s 10-year yield advanced nine basis points to 1.01%
Commodities
* West Texas Intermediate crude rose 0.7% to $76.50 a barrel
* Gold futures fell 0.3% to $1,805.40 an ounce

–With assistance from Andreea Papuc, Marcus Wong and Robert Brand.
Have a nice evening.

Be magnificent!

As ever,

Isabel

It is better to know some of the questions than all the answers. – James Grover Thurber, 1894-1961.

Assistant to Carolann Steinhoff,

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

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

Dear Friends,

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

Astronomers discover the largest group of rogue planets yet.

Joan Didion’s six-decade career was nothing short of remarkable.

PHOTOS OF THE DAY
The moon rises behind Lee’s Summit Magic Tree, which is covered with more than 12,000 lights, attracting thousands of visitors every Christmas
CREDIT: Charlie Riedel/AP
A composite image shows doors decorated with Christmas wreaths in Edinburgh’s New Town
CREDIT: Jane Barlow/PA
Pelicans scavenge at the Sydney fish market where 350 tonnes of seafood are expected to be sold over the Christmas period
CREDIT: Jenny Evans/Getty Images

Market Closes for December 23^rd, 2021

Market Index	Close	Change
Dow Jones	35950.56	+196.67
		+0.55%
S&P 500	4725.79	+29.23
		+0.62%
NASDAQ	15653.38	+131.49 +0.85%
TSX	21218.93	+148.88
		+0.71%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28798.37	+236.16
		+0.83%
HANG SENG	23193.64	+91.31
		+0.40%
SENSEX	57315.28	+384.72
		+0.68%
FTSE 100*	7373.34	+31.68 +0.43%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.438	1.419
CND. 30 Year Bond	1.747	1.725
U.S.    10 Year Bond	1.4927	1.4515
U.S. 30 Year Bond	1.9052	1.8490

Currencies

BOC Close	Today	Previous
Canadian $	0.7806	0.7789
US $	1.2811	1.2838
Euro Rate 1 Euro=		Inverse
Canadian $	1.4512	0.6891
US $	1.1326	0.8829

Commodities

Gold	Close	Previous
London Gold Fix	1792.80	1793.75
Oil
WTI Crude Future	73.74	72.86

Market Commentary:
     On this day in 1732, Richard Arkwright, one of the fathers of the Industrial Revolution, was born in Preston in Lancashire, England. After working as an apprentice wigmaker, in 1769 he invented the first practical machine for spinning cotton into thread, then built the first functional textile mill.
Canada
By Geoffrey Morgan
(Bloomberg) — Canadian equities rose for the third consecutive day, as information technology stocks posted the largest gains. The S&P/TSX Composite Index climbed 0.7%, or 148.88 to 21,218.93 in Toronto. The index advanced to the highest closing level since Nov. 25 and is heading for its best year since 2009. Shopify Inc., Canada’s largest company by market value, contributed the most to the index gain, increasing 3.6%. Cryptocurrency miner Hut 8 Mining Corp. had the largest percentage increase, rising 7.6%. Today, 170 of 241 shares rose, while 69 fell; 9 of 11 sectors were higher, led by information technology stocks.
Insights
* This year, the index rose 22%, heading for the best year in at least 10 years
* This quarter, the index rose 5.7%
* This month, the index rose 2.7%
* So far this week, the index rose 2.3%, heading for the biggest advance since the week ended Oct. 15
* The index advanced 21% in the past 52 weeks. The MSCI AC Americas Index gained 25% in the same period
* The S&P/TSX Composite is 2.6% below its 52-week high on Nov. 16, 2021 and 22.7% above its low on Jan. 29, 2021
* The S&P/TSX Composite is up 2.3% in the past 5 days and fell 1.1% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.2 on a trailing basis and 16.2 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.5% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.38t
* 30-day price volatility fell to 15.35% compared with 15.44% in the previous session and the average of 13.35% over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Information Technology | 57.3038| 2.5| 13/3
* Financials | 56.4970| 0.8| 22/6
* Materials | 10.8768| 0.4| 40/15
* Consumer Discretionary | 7.4951| 1.0| 13/1
* Energy | 5.9707| 0.2| 17/14
* Consumer Staples | 5.0985| 0.6| 6/6
* Industrials | 3.9947| 0.2| 20/10
* Health Care | 2.2935| 1.4| 8/0
* Real Estate | 0.9188| 0.1| 19/4
* Utilities | -0.5041| -0.1| 8/7
* Communication Services | -1.0728| -0.1| 4/3
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
* Shopify | 49.3200| 3.6| -34.8| 28.0
* Brookfield Asset Management | 13.7100| 1.8| -58.9| 47.0
* Royal Bank of Canada | 10.2600| 0.8| 1.1| 27.8
* Agnico Eagle Mines | -1.8950| -1.7| -6.9| -26.3
* Tourmaline Oil | -2.8990| -3.3| -43.0| 139.5
* Canadian Pacific | -5.0310| -0.9| -45.0| 3.4

US
By Peyton Forte
(Bloomberg) — Stocks rose to a record on speculation the economic recovery can weather the coronavirus flareup. Bonds fell. Trading volume was low ahead of the holidays.  Electric-vehicle startup Nikola Corp. surged amid optimism about deliveries. U.S.-listed shares of JD.com Inc. sank on Tencent Holdings Ltd.’s plan to distribute over $16 billion of the Chinese e-commerce firm’s stock as a one-time dividend. Crocs Inc., the colorful clog maker, plunged after agreeing to buy casual-shoe brand Heydude for $2.5 billion.  Bitcoin climbed above $50,000. U.S. consumer sentiment increased in December as households grew more upbeat about the economy. Sales of new homes rose in November to a seven-month high, while orders for durable goods beat forecasts. Consumer spending — adjusted for inflation — stagnated as the fastest price gains in nearly four decades eroded purchasing power. Jobless claims were little changed last week. Merck & Co.’s Covid-19 pill was cleared by U.S. regulators, giving high-risk patients another at-home treatment option. New York City is limiting crowds and adding more health and safety measures for revelers at the New Year’s Eve ball drop in Times Square.  People infected with omicron are 50% to 70% less likely than those with delta to be admitted to hospitals, the U.K. Health Security Agency said. “We’re still in a pretty good spot for equities,” said Anu Gaggar, global investment strategist at Commonwealth. “Real rates remain low and liquidity conditions remain quite easy, household and corporate balance-sheets are healthy and consumer confidence also remains high. It is not time to head for the exits.”

What to watch this week:
* Friday: U.S. markets are closed. U.K. markets close earlier

Some of the main moves in markets:
Stocks
* The S&P 500 rose 0.6% as of 4 p.m. New York time
* The Nasdaq 100 rose 0.8%
* The Dow Jones Industrial Average rose 0.5%
* The MSCI World index rose 0.8%
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%
* The euro was little changed at $1.1335
* The British pound rose 0.5% to $1.3418
* The Japanese yen fell 0.3% to 114.39 per dollar
Bonds
* The yield on 10-year Treasuries advanced four basis points to 1.49%
* Germany’s 10-year yield advanced four basis points to -0.25%
* Britain’s 10-year yield advanced four basis points to 0.92%
Commodities
* West Texas Intermediate crude rose 1.5% to $73.83 a barrel
* Gold futures rose 0.4% to $1,809.90 an ounce
–With assistance from Andreea Papuc and Namitha Jagadeesh.

Happy Holidays everyone.  I’ll be off for a few days, beginning tomorrow, Christmas Eve.  US markets are closed tomorrow.

As always,

Carolann

Genius is eternal patience. –Michelangelo Di Lodovico Buonarroti Simoni, 1475-1564.

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:
December 22, 2005 Astronomers announced the discovery of two more rings encircling the planet Uranus.  Go to article »
12/22/1989: Berlin’s Brandenburg Gate re-opens after nearly 30 years, effectively ending the division of East and West Germany.

Giacomo Puccini, composer, b.1858
Ralph Fiennes, actor, b. 1962

Scientists find an intact dinosaur embryo inside a fossilized egg. 

To cope with modern life, try embracing the original tenets of stoicism, skepticism, cynicism and epicureanism. — Andreas Kluth.

Scientists find a family tree in a 5,700-year-old tomb.

Scientists find a 50,000-year-old social network.

Why Finnish babies sleep in cardboard boxes.

PHOTOS OF THE DAY
Geometric neon snowflakes created by the artist Hannah Ayre surround the Scottish city’s Christmas tree on the Mound
CREDIT: Jane Barlow/PA
Derek Yung, an artist, creates a sand drawing on Sai Wan beach
CREDIT: Peter Parks/AFP/Getty Images
An ancient figurine of a Roman pantomimus that was recovered off the coast of Caesarea is displayed at the Israeli Antiquities Authority laboratory. Maritime archaeologists found several precious artefacts off the coast of Caesarea, including hundreds of silver coins from two shipwrecks dating over a millennium
CREDIT: Ahmad Gharabli/AFP/Getty Images

Market Closes for December 22^nd, 2021

Market Index	Close	Change
Dow Jones	35753.89	+261.19
		+0.74%
S&P 500	4696.56	+47.33
		+1.02%
NASDAQ	15521.89	+180.80 +1.18%
TSX	21070.05	+145.18
		+0.69%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28562.21	+44.62
		+0.16%
HANG SENG	23102.33	+131.00
		+0.57%
SENSEX	56930.56	+611.55
		+1.09%
FTSE 100*	7341.66	+44.25 +0.61%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.419	1.441
CND. 30 Year Bond	1.725	1.760
U.S.    10 Year Bond	1.4515	1.4617
U.S. 30 Year Bond	1.8490	1.8627

Currencies

BOC Close	Today	Previous
Canadian $	0.7789	0.7744
US $	1.2838	1.2931
Euro Rate 1 Euro=		Inverse
Canadian $	1.4543	0.6876
US $	1.1328	0.8827

Commodities

Gold	Close	Previous
London Gold Fix	1793.75	1796.30
Oil
WTI Crude Future	72.86	71.22

Market Commentary:
     On this day in 1973, meeting in Tehran, the oil ministers of OPEC’s six Persian Gulf member countries said they would unilaterally raise the price of crude oil to $7 per barrel—and that it would go up again, to $11.65, on Jan. 1, 1974. In two-and-a-half months, OPEC had raised the price of oil by 128%.
Canada
By Geoffrey Morgan
(Bloomberg) — Canadian equities climbed for the second straight day in Toronto, led higher by real estate, materials and financial stocks. The S&P/TSX Composite climbed 0.7%, or 145.18 to 21,070.05, to its highest closing level since Dec. 8. Royal Bank of Canada contributed the most to the index gain, increasing 0.8%. Bank of Montreal and TD Bank were also among the top three contributors to the index move. Tech company Dye & Durham Ltd. had the largest percentage increase Wednesday, rising 11.3%. Today, 199 of 241 shares rose, while 36 fell; all sectors were higher, led by financial stocks.
Insights
* This year, the index rose 21%, heading for the best year in at least 10 years
* This quarter, the index rose 5%
* This month, the index rose 2%
* The index advanced 20% in the past 52 weeks. The MSCI AC Americas Index gained 24% in the same period
* The S&P/TSX Composite is 3.3% below its 52-week high on Nov. 16, 2021 and 21.8% above its low on Jan. 29, 2021
* The S&P/TSX Composite is up 1.4% in the past 5 days and fell 1.6% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.1 on a trailing basis and 16 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.5% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.35t
* 30-day price volatility rose to 15.44% compared with 15.38% in the previous session and the average of 13.08% over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Financials | 56.3220| 0.8| 25/3
* Materials | 23.5081| 1.0| 45/7
* Energy | 18.5321| 0.7| 25/5
* Industrials | 12.2595| 0.5| 26/4
* Information Technology | 12.2060| 0.5| 12/4
* Real Estate | 7.2573| 1.1| 22/0
* Consumer Staples | 5.3946| 0.7| 7/5
* Utilities | 3.5066| 0.4| 15/1
* Consumer Discretionary | 3.0226| 0.4| 13/1
* Communication Services | 2.9365| 0.3| 6/1
* Health Care | 0.2294| 0.1| 3/5
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
* Royal Bank of Canada  9.9570| 0.8| -38.9| 26.8
* Bank of Montreal  9.8110| 1.7| -26.0| 39.9
* TD Bank  8.8650| 0.8| 3.0| 32.7
* Canopy Growth  -0.7640| -3.6| -15.2| -61.6
* WSP Global  -1.3150| -1.4| 78.0| 48.4
* Lightspeed Commerce Inc  -1.3880| -2.8| -54.2| -41.6

US
By Namitha Jagadeesh
(Bloomberg) — Stocks closed near session highs on speculation that the omicron coronavirus variant won’t derail the economic recovery. The S&P 500 climbed for a second day, the dollar fell and bonds were little changed. Pfizer Inc. advanced as its Covid-19 pill gained clearance for emergency use in the U.S. Amazon.com Inc. rebounded, following a drop of more than 1% after Bloomberg News reported the U.S. Federal Trade Commission is pushing forward with antitrust scrutiny of the company’s cloud computing business. Sales of previously owned U.S. homes increased for a third consecutive month in November, while consumer confidence rose in December by more than expected as Americans’ outlook for employment and the economy improved. Omicron may be less likely to land patients in the hospital than the delta strain, according to a trio of studies of preliminary data. “Many investors believe that omicron would only have a temporary impact on the economic activity and should not be a problem for the overall positive trend in equities,” said Ipek Ozkardeskaya, senior analyst at Swissquote Group.

What to watch this week:
* Bank of Japan Governor Haruhiko Kuroda speaks Thursday
* U.S. initial jobless claims, personal income, durable goods, University of Michigan consumer sentiment, new home sales on Thursday
* Friday: U.S. markets are closed. European markets close earlier

Some of the main moves in markets:
Stocks
* The S&P 500 rose 1% as of 4 p.m. New York time
* The Nasdaq 100 rose 1.2%
* The Dow Jones Industrial Average rose 0.7%
* The MSCI World index rose 1%
Currencies
* The Bloomberg Dollar Spot Index fell 0.4%
* The euro rose 0.4% to $1.1334
* The British pound rose 0.7% to $1.3359
* The Japanese yen was unchanged at 114.10 per dollar
Bonds
* The yield on 10-year Treasuries was little changed at 1.45%
* Germany’s 10-year yield advanced one basis point to -0.29%
* Britain’s 10-year yield advanced one basis point to 0.89%
Commodities
* West Texas Intermediate crude rose 2.5% to $72.93 a barrel
* Gold futures rose 0.9% to $1,805.30 an ounce
–With assistance from Andreea Papuc.
Have a lovely evening.

Be magnificent!
As ever,

Carolann

Talent hits a target no one else can hit; Genius hits a target no one else can see. –Arthur Schopenhauer, 1788-1860.

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

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

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

Dear Friends,

Tangents: First day of winter; shortest day of the year!
Let us love winter for it is the spring of genius.-Pietro Aretino.

Today is 12/21/21, which, aside from being visually pleasing, is mathematically significant. According to Scott Duke Kominers, 12/21 and 21/12 both have palindrome ambigram 180° symmetry. I’ll let you Google what that means!

December 21, 1620: Pilgrims land at Plymouth, Mass.

If you go to McDonald’s in Japan, prepare to be disappointed by your French fry order.

A plunge in Earth’s magnetic field 41,000 years ago saw  auroras at the equator. 

Queen Elizabeth II will not travel to Sandringham for Christmas.  She’ll be staying put at Windsor Castle as the new coronavirus variant surges.

PHOTOS OF THE DAY
Revellers touch the Celtic carved entrance stone at the 5,000-year-old stone age tomb of Newgrange in County Meath, Ireland. Entry inside the chamber is closed for the second year because of the Covid pandemic
CREDIT: Clodagh Kilcoyne/Reuters
Amy Russell, a shaman and healer, lighting a candle on the altar stone while waiting to observe the sunrise during at Drombeg stone circle outside Glandore in Cork, Ireland
CREDIT: David Creedon/Alamy Live News/Alamy Live News.
Dawn at Castlerigg, Cumbria
CREDIT: Christopher Thomond/The Guardian
People watch the moody sky over Castlerigg in Cumbria
CREDIT: Christopher Thomond/The Guardian

Market Closes for December 21^st, 2021

Market Index	Close	Change
Dow Jones	35492.70	+560.54
		+1.60%
S&P 500	4649.23	+81.21
		+1.78%
NASDAQ	15341.09	+360.15 +2.40%
TSX	20924.87	+386.66
		+1.88%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28517.59	+579.78
		+2.08%
HANG SENG	22971.33	+226.47
		+1.00%
SENSEX	56319.01	+497.00
		+0.89%
FTSE 100*	7297.41	+99.38 +1.38%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.441	1.392
CND. 30 Year Bond	1.760	1.741
U.S.    10 Year Bond	1.4617	1.4225
U.S. 30 Year Bond	1.8627	1.8511

Currencies

BOC Close	Today	Previous
Canadian $	0.7744	0.7727
US $	1.2931	1.2942
Euro Rate 1 Euro=		Inverse
Canadian $	1.4573	0.6862
US $	1.1286	0.8861

Commodities

Gold	Close	Previous
London Gold Fix	1796.30	1807.70
Oil
WTI Crude Future	71.22	68.23

Market Commentary:
     On this day in 1986, Drexel Burnham Lambert, the junk-bond investment-banking powerhouse dominated by Michael Milken, pleaded guilty to six counts of federal securities fraud and paid a fine of $650 million. Just two days earlier, Drexel’s chairman and chief executive, Fred Joseph, had said, “It’s very clear that the firm didn’t do anything wrong.”
Canada
By Geoffrey Morgan
(Bloomberg) — Canadian equities enjoyed their biggest one-day gain since February as all sectors of the S&P/TSX Composite traded higher with information technology, health care and energy stocks leading the advance. The Composite rose 1.9% to 20,924.87 in Toronto, marking the index’s largest increase since rising 2.1% on Feb. 1. Shopify Inc., Canada’s largest company by market value, contributed the most to the index gain, increasing 6.5%. Nuvei Corp. had the largest percentage increase, rising 16.4%. Today, 222 of 241 shares rose, while 16 fell.
Insights
* In the past year, the index had a similar or greater gain once
* This year, the index rose 20%, heading for the best year in at least 10 years
* This quarter, the index rose 4.3%
* This month, the index rose 1.3%
* The index advanced 20% in the past 52 weeks. The MSCI AC Americas Index gained 23% in the same period * The S&P/TSX Composite is 4% below its 52-week high on Nov. 16, 2021 and 21% above its low on Jan. 29, 2021
* The S&P/TSX Composite is up 1.3% in the past 5 days and fell 2.9% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19 on a trailing basis and 15.9 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.5% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.29t
* 30-day price volatility rose to 15.38% compared with 14.20% in the previous session and the average of 12.98% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Information Technology | 115.3221| 5.3| 16/0
* Financials | 81.2918| 1.2| 26/2
* Energy | 68.1703| 2.6| 32/0
* Materials | 40.8571| 1.7| 47/6
* Industrials | 25.1912| 1.0| 29/1
* Consumer Staples | 17.0140| 2.2| 10/2
* Consumer Discretionary | 12.3717| 1.7| 13/1
* Real Estate | 11.6130| 1.8| 23/0
* Health Care | 7.8576| 4.9| 8/0
* Utilities | 4.4049| 0.5| 12/3
* Communication Services | 2.5472| 0.3| 6/1
================================================================
| | |Volume VS | YTD
| Index | | 20D AVG | Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
* Shopify | 84.0300| 6.5| -30.7| 23.2
* Royal Bank of Canada| 15.4200| 1.2| -13.0| 25.8
* Couche-Tard | 15.3100| 5.5| 30.8| 17.1
* Emera | -0.4960| -0.5| -30.8| 15.7
* Franco-Nevada | -2.2400| -1.0| -31.8| 7.2
* Canadian Pacific | -3.2460| -0.6| -58.3| 3.7

US
By Emily Graffeo
(Bloomberg) — Stocks climbed after the biggest three-day drop since September amid appetite for risk assets. Treasuries fell. The technology-heavy Nasdaq 100 rose more than 2%, with chipmaker Micron Technology Inc. jumping on an upbeat forecast. Nike Inc. rallied as revenue in North America increased, offsetting a drop in China. Pfizer Inc. and Merck & Co. closed off session lows as Bloomberg News reported the U.S. Food and Drug Administration was set to authorize their pills to treat coronavirus as soon as this week. President Joe Biden said he still has a chance to strike a deal with Democratic Senator Joe Manchin to get his roughly $2 trillion economic plan through Congress. He’s also considering lifting travel restrictions on people arriving from southern African countries where the omicron variant of coronavirus was first identified. “The omicron’s potential damage to economic activity will be reasonably short and shallow,” said Art Hogan, chief market strategist at National Securities. “With household and corporate balance-sheets in good shape and sentiment still strong, we think it’s reasonable to expect that the economy will manage to navigate the rough waters.” Earlier Tuesday, Credit Suisse Group AG’s global investment committee slashed its stocks allocation to neutral from overweight, citing increasing risks from the omicron variant.

What to watch this week:
* EIA crude oil inventory report Wednesday
* Bank of Japan Governor Haruhiko Kuroda speaks Thursday
* U.S. consumer income, new home sales, U.S. durable goods, University of Michigan consumer sentiment, initial jobless claims. Thursday
* Friday: U.S. markets are closed. European markets close .earlier

Some of the main moves in markets:
Stocks
* The S&P 500 rose 1.8% as of 4 p.m. New York time
* The Nasdaq 100 rose 2.3%
* The Dow Jones Industrial Average rose 1.6%
* The MSCI World index rose 1.7%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro was little changed at $1.1282
* The British pound rose 0.5% to $1.3269
* The Japanese yen fell 0.4% to 114.09 per dollar
Bonds
* The yield on 10-year Treasuries advanced five basis points to 1.47%
* Germany’s 10-year yield advanced six basis points to -0.31%
* Britain’s 10-year yield advanced 10 basis points to 0.87%
Commodities
* West Texas Intermediate crude rose 4.2% to $71.47 a barrel
* Gold futures fell 0.4% to $1,788.30 an ounce
–With assistance from Andreea Papuc and Namitha Jagadeesh.
Have a lovely evening.

Be magnificent!
As ever,

Carolann

Memory is the diary that we all carry about with us. –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:
On Dec. 20, 1989, the United States launched Operation Just Cause, sending troops into Panama to topple the government of General Manuel Noriega. Go to article »

Bugs are evolving to eat plastic.

The hottest dishes of 2021, according to our resident foodie. –Bloomberg.

PHOTOS OF THE DAY
A woman holds a child as they stand inside a Christmas tree made of lights
CREDIT: Lalo Villar/AP
A rainbow in the sky above the Israeli settlement of Eli, south of Nablus in the occupied West Bank
CREDIT: Jaafar Ashtiyeh/AFP/Getty Images
Pedestrians walk through the snow
CREDIT: Dimitar Dilkoff/AFP/Getty Images

Market Closes for December 20^th, 2021

Market Index	Close	Change
Dow Jones	34932.16	-433.28
		-1.23%
S&P 500	4568.02	-52.62
		-1.14%
NASDAQ	14980.95	-188.73 -1.24%
TSX	20538.22	-200.97
		-0.97%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27937.81	-607.87
		-2.13%
HANG SENG	22744.86	-447.77
		-1.93%
SENSEX	55822.02	-1189.73
		-2.09%
FTSE 100*	7198.03	-71.89 -0.99%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.392	1.323
CND. 30 Year Bond	1.741	1.667
U.S.    10 Year Bond	1.4225	1.4021
U.S. 30 Year Bond	1.8511	1.8064

Currencies

BOC Close	Today	Previous
Canadian $	0.7727	0.7756
US $	1.2942	1.2894
Euro Rate 1 Euro=		Inverse
Canadian $	1.4598	0.6851
US $	1.1278	0.8867

Commodities

Gold	Close	Previous
London Gold Fix	1807.70	1795.70
Oil
WTI Crude Future	68.23	70.86

Market Commentary:
     On this day in 1968, the era of “go-go” mutual funds came crashing to a halt when the SEC suspended trading in Omega Equities, an unregistered “letter stock” that almost single-handedly powered the Mates Investment Fund to its 72.2% return. Within days, it turned out that manager Fred Mates had cooked his fund’s books, using unofficial markups on Omega stock to enhance his returns.
Canada
By Geoffrey Morgan
(Bloomberg) — Canadian equities declined for a third straight day as industrial, information technology and real estate stocks weighed down the market. The S&P/TSX Composite dropped 1%, or 200.97, to 20,538.22 in Toronto, the biggest move since Nov. 30. Today, industrials stocks led the market lower, as 9 of 11 sectors lost; 170 of 241 shares fell, while 64 rose. Canadian National Railway Co. contributed the most to the index decline, decreasing 5.9%. Lundin Mining Corp. had the largest drop, falling 16.9%.
Insights
* In the past year, the index had a similar or greater loss 12 times. The next day, it advanced eight times for an average 1.1% and declined four times for an average 0.8%
* This year, the index rose 18%, poised for the best year since 2019
* This quarter, the index rose 2.3%
* This month, the index fell 0.6%
* The index advanced 17% in the past 52 weeks. The MSCI AC Americas Index gained 20% in the same period
* The S&P/TSX Composite is 5.8% below its 52-week high on Nov. 16, 2021 and 18.7% above its low on Jan. 29, 2021
* The S&P/TSX Composite is down 1% in the past 5 days and fell 4.7% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 18.5 on a trailing basis and 15.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.6% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.31t
* 30-day price volatility rose to 14.20% compared with 14.02% in the previous session and the average of 12.86% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Industrials | -65.6786| -2.6| 2/28
* Financials | -58.4283| -0.9| 0/28
* Information Technology | -46.9307| -2.1| 1/15
* Real Estate | -12.7385| -2.0| 0/21
* Materials | -10.7420| -0.5| 25/27
* Consumer Discretionary | -7.3656| -1.0| 2/12
* Health Care | -2.6542| -1.6| 1/7
* Consumer Staples | -1.5352| -0.2| 2/10
* Utilities | -0.8378| -0.1| 10/6
* Communication Services | 1.6294| 0.2| 3/3
* Energy | 4.3074| 0.2| 18/13
================================================================
| | |Volume VS| YTD
|Index Points | | 20D AVG | Change
Top Contributors | Move | % Change | (%) | (%)
================================================================
* Canadian National | -40.0700| -5.9| 175.0| 10.4
* Shopify | -33.6000| -2.5| -35.0| 15.6
* Bank of Montreal | -11.4100| -1.9| 35.2| 35.9
* Bausch Health | 2.4630| 3.9| 7.8| 25.9
* Couche-Tard | 2.4750| 0.9| 53.3| 11.0
* Agnico Eagle Mines | 2.6660| 2.5| -2.9| -25.7

US
By Emily Graffeo
(Bloomberg) — Investor sentiment sagged as concern about President Joe Biden’s economic agenda and the omicron coronavirus surge dragged down stocks. Traders said lower volume ahead of the holidays exacerbated market moves. The S&P 500 had its biggest three-day drop since September, led by losses in financial and material shares.
Bonds fell. The dollar was little changed. “There’s kind of two dynamics going on. Probably the most important one is the imminent reduction in liquidity,” said Jay Hatfield, chief executive officer at Infrastructure Capital Management. “On top of that, you have the omicron concern.” Goldman Sachs Group Inc. economists cut their U.S. growth forecasts after Democratic Senator Joe Manchin blindsided the White House by rejecting Biden’s roughly $2 trillion tax-and-spending package. Meanwhile, Europe’s biggest nations weighed more Covid-19 restrictions.

What to watch this week:
* Reserve Bank of Australia releases minutes of its December rate meeting. Tuesday
* EIA oil inventory report Wednesday
* U.S. consumer income, new home sales, U.S. durable goods, University of Michigan consumer sentiment, initial jobless claims. Thursday
* Friday: U.S. markets are closed. European markets close earlier

Some of the main moves in markets:
Stocks
* The S&P 500 fell 1.1% as of 4 p.m. New York time
* The Nasdaq 100 fell 1.1%
* The Dow Jones Industrial Average fell 1.2%
* The MSCI World index fell 1.4%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro rose 0.3% to $1.1278
* The British pound fell 0.3% to $1.3209
* The Japanese yen was little changed at 113.67 per dollar
Bonds
* The yield on 10-year Treasuries advanced two basis points to 1.42%
* Germany’s 10-year yield advanced one basis point to -0.37%
* Britain’s 10-year yield advanced one basis point to 0.77%
Commodities
* West Texas Intermediate crude fell 3.7% to $68.23 a barrel
* Gold futures fell 0.9% to $1,789.40 an ounce
–With assistance from Andreea Papuc and Abigail Moses.
Have a lovely evening.

Be magnificent!

As ever,

Carolann

If any man seeks greatness, let him forget greatness and ask for truth, and he will find both. –Horace Mann, 1796-1859.

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