Category: Newsletters

Dear Friends,

Tangents:
February 18, 1885 – Mark Twain published the Adventures of Huckleberry Finn in the US.

Feb 18, 1930  – Photographic evidence of Pluto was discovered by Clyde W. Tombaugh at Lowell Observatory in Flagstaff, Ariz. Go to article »

Yoko Ono, artist, b. 1933
Toni Morrison, writer, b. 1931
Helen Gurley Brown, editor, b. 1922.

Researchers have a new theory on what wiped out the dinosaurs.  Turns out it may not have been an asteroid after all.

Massive holes have been mysteriously forming in the Siberian tundra for years, and scientists have finally figured out why.  Spoiler alert: It’s climate change.

NASA accomplished its trickiest rover landing yet, in a quest for signs of life.

People can answer questions while dreaming

Here’s the most accurate flat map of Earth yet

Mammoth DNA is the oldest ever sequenced. (h/t Ellen Kominers)

No place like Antarctica: There’s something about the vastness and majesty found at the southern end of the planet that just puts things in perspective. (Click here to view.)

PHOTOS OF THE DAY

Motley’s owner, Chloe Brown, a zoo biology student and part-time employee at The Royal School for the Deaf Derby, has raised Motley since he was just over 21 weeks old.
CREDIT:@MOTLEYS_ADVENTUREZ / CATERS NEWS

Several projections were performed both from the ground and helicopter and were carried out over distances of up to 8km and dimensions up to 2.2km in height on the iconic Swiss mountains Eiger, Monch und Jungfrau. The artistic performance pays tribute to the “Mars 2020” Perseverance rover mars mission by NASA
CREDIT: VALENTINE FLAURAUD/EPA-EFE/SHUTTERSTOCK

Taken from the village of Milo near Catania this photograph shows an eruption at Mount Etna, after 32 hours from the last spectacular paroxysmal episode. At the Southeast Crater a new paroxysm occurred on February 18, this eruption was characterised by tall lava fountains, long lava flows from the southeast to the north side of the Southeast crater and a dense eruptive ash column
CREDIT:SALVATORE ALLEGRA/ANADOLU AGENCY VIA GETTY IMAGES

A ceiling fan with icicles hanging from it in an apartment building in Upper Dallas,Texas. Thomas Black was shocked to find icicles hanging from a ceiling fan inside his home in Texas as temperatures plummet to – 18 – the coldest in 30 years
CREDIT: THOMAS BLACK / SWNS.COM
Market Closes for February 18^th, 2021

 

Market Index	Close	Change
Dow Jones	31493.34	-119.68
		-0.38%
S&P 500	3913.97	-17.36
		-0.44%
NASDAQ	13865.355	-100.140 -0.72%
TSX	18274.06	-100.72
		-0.55%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	30236.09	-56.10
		-0.19%
HANG SENG	30595.27	-489.67
		-1.58%
SENSEX	51324.69	-379.14
		-0.73%
FTSE 100*	6617.15	-93.75 -1.40%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.144	1.111
CND. 30 Year Bond	1.731	1.691
U.S.    10 Year Bond	1.2956	1.2703
U.S. 30 Year Bond	2.0817	2.0371

Currencies

BOC Close	Today	Previous
Canadian $	0.7886	0.7872
US $	1.2679	1.2703
Euro Rate 1 Euro=		Inverse
Canadian $	1.5334	0.6521
US $	1.2093	0.8269

Commodities

Gold	Close	Previous
London Gold Fix	1780.70	1794.25
Oil
WTI Crude Future	60.52	61.14

Market Commentary:
     On this day in 1688, the London Gazette published the earliest known reference to “Edward Lloyd’s coffee house,” the birthplace of Lloyd’s of London and the insurance industry.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian shares fell after pot and tech stocks underperformed on Thursday. The S&P/TSX Composite index shed 0.6%, extending its losses into second day. Cannabis stocks were lower after Tilray reported its earnings and analysts downgraded the stock. Financials were the only sector that was in the green on Thursday. Meanwhile, North America’s first Bitcoin ETF got off to a stellar start in its first day of trading. Investors exchanged $145 million worth of shares.
Commodities
* Western Canadian Select crude oil traded at a $11.50 discount to West Texas Intermediate
* Spot gold was flat around $1,774.67 an ounce
FX/Bonds
* The Canadian dollar rose slightly to C$1.2675 per U.S. dollar
* The 10-year Canada government bond yield rose to 1.140%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.5 percent, or 100.71 to 18,274.07 in Toronto. The index dropped to the lowest closing level since Feb. 5. Shopify Inc. contributed the most to the index decline, decreasing 2.7 percent. Canopy Growth Corp. had the largest drop, falling 10.3 percent. Today, 159 of 219 shares fell, while 59 rose; 10 of 11 sectors were lower, led by information technology stocks.
Insights
* So far this week, the index fell 1 percent
* The index advanced 2.3 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 1.6 percent below its 52-week high on
Feb. 16, 2021 and 63.6 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1 percent in the past 5 days and rose 1.8 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
28.4 on a trailing basis and 17.4 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12- month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.84t
* 30-day price volatility fell to 13.39 percent compared with
13.63 percent in the previous session and the average of 11.65 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | -34.3264| -1.6| 4/6
Materials | -24.1138| -1.0| 10/39
Health Care | -17.5021| -5.5| 0/9
Industrials | -16.3881| -0.7| 10/19
Energy | -13.7186| -0.6| 2/20
Consumer Discretionary | -4.4430| -0.6| 4/9
Real Estate | -3.9634| -0.7| 3/23
Communication Services | -1.5142| -0.2| 3/4
Consumer Staples | -1.2242| -0.2| 3/8
Utilities | -0.0465| 0.0| 8/8
Financials | 16.5269| 0.3| 12/14
US
By Lu Wang and Claire Ballentine
(Bloomberg) — U.S. stocks dropped to the lowest levels in more than a week and Treasury yields edged higher amid growing concern rising borrowing costs could sap a rally that’s driven equity values to historic highs. The tech-heavy Nasdaq 100 slumped 0.4%, the third consecutive decline. The energy and communication services sectors weighed on the S&P 500, which posted its biggest drop since Jan. 29. A report earlier showed initial jobless claims rose more than expected. Walmart Inc. fell 6.5% after saying it will increase spending on worker salaries and automation. “This rise in rates will certainly test the mettle and staying power of the bulls,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. Yields on 10-year Treasuries climbed as high as 1.32% before paring the increase. Yields reached the highest levels in a year earlier this week.
Technology companies such as Tesla Inc., which have seen their valuations surge, are often seen as the most at risk of a pullback. “The market is starting to get a little wary of this ‘bad news is good news’ scenario,” said Matt Benkendorf, chief investment officer of Vontobel Quality Growth. “Now you’ve seen a bit of a mixed picture, which scrambles the monetary policy visibility.” In currency markets, the pound touched the strongest level versus the euro since March amid continued optimism over the nation’s vaccine rollout. The dollar weakened against Group of 10 peers. Bitcoin retreated, paring its weekly gain to 5%. Commodities were broadly higher, with lumber futures climbed to a record $1,004.90 per 1,000 board feet.
Copper in London hit a fresh 8-year high as China’s traders returned from holiday with metals markets in a bullish mood. Meanwhile, the global oil market is grappling with a crisis caused by freezing temperatures in the U.S. More than 4 million barrels a day of output — almost 40% of the nation’s crude production — is now offline, according to traders and executives. Stocks in Asia dropped overnight, with the Hang Seng Index down 1.6% and Japan’s Topix index 1% lower.

These are some of the main moves in markets:
Stocks
The S&P 500 Index decreased 0.4% to 3,914 as of 4:03 p.m. New
York time, the lowest in more than a week on the largest dip in almost three weeks.
The Dow Jones Industrial Average decreased 0.4% to 31,493.93,
the first retreat in a week and the biggest dip in almost three weeks.
The Nasdaq Composite Index dipped 0.7% to 13,865.36, the lowest
in almost two weeks on the largest dip in almost three weeks.
The Stoxx Europe 600 Index decreased 0.8% to 412.70, the lowest
in a week on the biggest dip in almost three weeks.
The MSCI All-Country World Index decreased 0.5% to 679.13, the
lowest in more than a week on the largest dip in almost three weeks.
Currencies
The Bloomberg Dollar Spot Index fell 0.2% to 1,126.71, the biggest fall in more than a week.
The euro gained 0.4% to $1.2092, the largest advance in more than a week.
The Japanese yen strengthened 0.2% to 105.65 per dollar, the biggest advance in more than a week.
The British pound jumped 0.9% to $1.3975, the strongest in
almost three years on the largest climb in more than five weeks.
Bonds
The yield on 10-year Treasuries gained two basis points to 1.29%.
Germany’s 10-year yield rose two basis points to -0.35%, the highest in more than eight months.
Britain’s 10-year yield climbed five basis points to 0.622%, the highest in 11 months.
Commodities
West Texas Intermediate crude sank 1.8% to $60.06 a barrel, the
first retreat in a week and the largest tumble in almost five weeks.
Gold depreciated 0.1% to $1,774.36 an ounce, reaching the
weakest in almost eight months on its sixth consecutive decline.
Copper jumped 2.3% to $3.91 a pound, the highest on record with the largest jump in more than six weeks.

–With assistance from Kamaron Leach.
Have a great night.

Be magnificent!
As ever,

Carolann

I believe that man will not merely endure; he will prevail.
He is immortal, not because he alone among the creatures has an inexhaustible voice,
but because he has a soul, a spirit capable of kindness and compassion. -William Faulkner, 1897-1962

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: Ash Wednesday.
February 17, 1972~ British Parliament votes to join the European Common Market.
1996 World chess champion Garry Kasparov beat IBM supercomputer “Deep Blue,” winning a six-game match in Philadelphia. Go to article »

Scientists find life under a half-mile of ice.  

PHOTOS OF THE DAY

Lava gushes from the Mt Etna volcano near Catania, Sicily
CREDIT:Salvatore Allagra, AP

Artist Luke Jerram stands in front of his “Mars” installation at the Natural History Museum in London
CREDIT: CHRIS JACKSON/GETTY IMAGES

Rice farmers and their elephants join Buddhist monks as they pray at sunrise in the Surin Province of Thailand
CREDIT:THIRAWATANA PHAISALRATANA/SOLENT NEWS & PHOTO ANGECY
Market Closes for February 17^th, 2021

Market Index	Close	Change
Dow Jones	31613.02	+90.27
		+0.29%
S&P 500	3931.33	-1.26
		-0.03%
NASDAQ	13965.496	-82.003 -0.58%
TSX	18374.78	-117.94
		-0.64%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	30292.19	-175.56
		-0.58%
HANG SENG	31084.94	+338.28
		+1.10%
SENSEX	51703.83	-400.34
		-0.77%
FTSE 100*	6710.90	-37.96 -0.56%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.111	1.123
CND. 30 Year Bond	1.691	1.710
U.S.    10 Year Bond	1.2703	1.3141
U.S. 30 Year Bond	2.0371	2.0918

Currencies

BOC Close	Today	Previous
Canadian $	0.7872	0.7868
US $	1.2703	1.2708
Euro Rate 1 Euro=		Inverse
Canadian $	1.5298	0.6537
US $	1.2043	0.8303

Commodities

Gold	Close	Previous
London Gold Fix	1794.25	1817.30
Oil
WTI Crude Future	61.14	60.05

Market Commentary:
     On this day in 1874, Thomas J. Watson was born in Campbell, N.Y. After working as a bookkeeper, an itinerant peddler of musical instruments and a salesman for NCR, he became the dynamic head of IBM who helped computerize the modern world. His famous motto, “THINK,” was shortened from his saying, “‘I didn’t think’ has cost the world millions of dollars.”
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equities fell for the first time in three sessions after marijuana and mining companies underperformed. The S&P/TSX Composite index fell 0.6% in Toronto. Materials and health care companies were the worst performers after the price of gold fell on a stronger dollar and pot stocks declined after Tuesday’s rally. On the IPO front, electric jet-ski maker Taiga Motors plans to go public via a merger with a blank-check company sponsored by Canaccord Genuity Group Inc.. It will be taking advantage of investor demand for companies that can burnish their environmental credentials.
Commodities
* Western Canadian Select crude oil traded at a $11.35 discount to West Texas Intermediate
* Spot gold fell 1.1% to $1,775.39 an ounce
FX/Bonds
* The Canadian dollar was down slightly to C$1.2699 per U.S. dollar
* The 10-year Canada government bond yield fell slightly to 1.111%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 0.6 percent at
18,374.78 in Toronto. The move was the biggest since falling 1.8
percent on Jan. 29 and follows the previous session’s increase of 0.2 percent.
Shopify Inc. contributed the most to the index decline,
decreasing 2.8 percent. BlackBerry Ltd. had the largest drop, falling 7.2 percent.
Today, 138 of 219 shares fell, while 80 rose; 8 of 11 sectors were lower, led by materials stocks.
Insights
* The index advanced 2.9 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 1.1 percent below its 52-week high on
Feb. 16, 2021 and 64.5 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.6 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
28.6 on a trailing basis and 17.6 times estimated earnings of
its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization
of C$2.86t
* 30-day price volatility rose to 13.63 percent compared with
13.59 percent in the previous session and the average of 11.57 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -52.1230| -2.2| 11/39
Information Technology | -45.6556| -2.1| 1/9
Industrials | -16.9882| -0.8| 11/18
Consumer Staples | -7.5466| -1.2| 1/10
Health Care | -6.9625| -2.2| 4/5
Communication Services | -2.5680| -0.3| 2/5
Utilities | -2.1734| -0.2| 4/12
Consumer Discretionary | -1.7290| -0.2| 4/9
Energy | 0.7220| 0.0| 16/6
Real Estate | 1.1342| 0.2| 13/13
Financials | 15.9600| 0.3| 13/12
US
By Kamaron Leach and Claire Ballentine
(Bloomberg) — U.S. stocks were mixed and Treasury yields retreated from a one-year high as investors weighed the outlook for economic growth and inflation. The benchmark 10-year Treasury yield briefly climbed as high as 1.33% before paring its increase. The S&P 500 Index finished little changed, while the Nasdaq Composite slumped. Chevron Corp. led energy shares higher after Berkshire Hathaway Inc. revealed an increased stake. The Dow Jones Industrial Average closed at a record high. Companies that may have difficulty justifying stretched valuations if rising inflation dents profits bore the brunt of selling — high-flying tech shares among them. “At some point higher yields could hurt, but I don’t think we’re there just yet,” said Michael Arone, chief investment strategist for the U.S. SPDR exchange-traded fund business at State Street Global Advisors. “That’s going to continue to be a big underlying theme for markets.” Federal Reserve officials did not see the conditions for reducing their massive asset-purchase program being met for “some time” at their January policy meeting, a record of the gathering released Wednesday showed. The recent dramatic rise in bond yields has investors wondering afresh how high they can climb before spoiling the risk rally. That adds to concerns that speculative froth may be setting equities up for a fall.
“It’s quite possible that for a while interest rates could rise and yet stock prices could still rise some more because of the tailwinds from the fiscal stimulus, from folks who save money, and people wanting to get out,” said Tom Martin, senior portfolio manager at GLOBALT Investments. “So the tricky part is going to be figuring what level of interest rates will be supportive of stock prices either hanging in there and going higher or what level of inflation or interest rates will then start to become a worry for the market in terms of valuation.” Elsewhere, oil rose for a third session as an ongoing energy crisis in the U.S. pummeled domestic crude output. The deep freeze causing historic power outages across the central U.S. has led oil output in the country to plunge by a third. Bitcoin jumped past $52,000 for the first time. China remains shut for a week-long holiday and will reopen Thursday.
These are some of the main moves in markets:
Stocks
The S&P 500 Index was little changed at 3,931.43 as of 4:01 p.m. New York time.
The Dow Jones Industrial Average increased 0.3% to 31,614.27,
the highest on record with the biggest climb in more than a
week.
The Nasdaq Composite Index sank 0.6% to 13,965.50, the lowest in
more than a week on the largest decrease in almost three weeks.
The Stoxx Europe 600 Index sank 0.7% to 416.10, the biggest dip in almost three weeks.
The MSCI All-Country World Index sank 0.3% to 682.92, the largest decrease in almost three weeks.
Currencies
The Bloomberg Dollar Spot Index climbed 0.3% to 1,129.46, the highest in more than a week.
The euro decreased 0.5% to $1.2042, the weakest in almost two weeks on the largest dip in almost two weeks.
The Japanese yen strengthened 0.2% to 105.88 per dollar, the first advance in more than a week.
The British pound sank 0.3% to $1.3863, the largest decrease in more than two weeks.
Bonds
The yield on 10-year Treasuries fell three basis points to 1.28%, the biggest fall in a week.
Germany’s 10-year yield dipped two basis points to -0.37%.
Britain’s 10-year yield sank five basis points to 0.572%, the
biggest tumble in almost 10 weeks.
Commodities
West Texas Intermediate crude gained 1.9% to $61.22 a barrel, the highest in more than two years.
Gold depreciated 1.1% to $1,775.52 an ounce, reaching the
weakest in almost eight months on its fifth consecutive decline.
Have a great night.

Be magnificent!
As ever,

Carolann

Act as if what you do makes a difference. It does.-William James, 1842-1910

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 Mardi Gras.

Bars are closed. Parades are canceled. But Mardi Gras in New Orleans will still be festive, despite the pandemic: Artists are turning houses into elaborate floats.  Floats have paraded through the city on the last Tuesday before Lent since 1857. With the help of local organizations, artists are finding a way to keep the celebration going. Take a tour for yourself (beads not included).  “It’s so New Orleans to take a bad situation and turn into a positive,” one homeowner said. “This speaks to the resiliency of the people in the city.” –NYTimes.

Carnival parades, residents have responded by turning their houses into floats. –CNN.

On Feb. 16, 1923, the burial chamber of King Tutankhamen’s recently unearthed tomb was unsealed in Egypt.  Go to article »
February 16, 1959~ Fidel Castro becomes the 16^th Prime Minister of Cuba after overthrowing Fulgencio Batista.
1932~ First patent issued for a tree to James Markham for a peach tree.

Scientists narrow down the “weight” of dark matter. 
PHOTOS OF THE DAY

Storm Dennis hits the east coast at Aberystwyth harbour in Wales, as large parts of the UK are battered by strong winds and heavy rain
CREDIT: NDREW CHITTOCK/LNP
Red Arrows flying above Lincoln Cathedral in Lincolnshire on Friday afternoon as they continue their training for the coming season of airshows that start in May
CREDIT: CLAIRE HARTLEY/BAV MEDIA
A reveller wearing a mask takes part in the Venice Carnival 
CREDIT: ALBERTO PIZZAOL/AFP VIA GETTY IMAGES
Market Closes for February 16^th, 2021

Market Index	Close	Change
Dow Jones	31522.75	+64.35
		+0.20%
S&P 500	3932.59	-2.24
		-0.06%
NASDAQ	14047.500	-47.974 -0.34%
TSX	18492.72	+32.51
		+0.18%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	30467.75	+585.60
		+1.28%
HANG SENG	30746.66	+573.09
		+1.90%
SENSEX	52104.17	-49.96
		-0.10%
FTSE 100*	6748.86	-7.25 -0.11%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.123	1.029
CND. 30 Year Bond	1.710	1.634
U.S.    10 Year Bond	1.3141	1.2082
U.S. 30 Year Bond	2.0918	2.0086

Currencies

BOC Close	Today	Previous
Canadian $	0.7868	0.7879
US $	1.2708	1.2691
Euro Rate 1 Euro=		Inverse
Canadian $	1.5365	0.6508
US $	1.2089	0.8271

Commodities

Gold	Close	Previous
London Gold Fix	1817.30	1840.10
Oil
WTI Crude Future	60.05	59.47

Market Commentary:
     On this day in 1822, Francis Galton was born near Sparkbrook, England. After studying medicine, exploring Africa and obsessively measuring everything he could find, he developed the statistical concept of “reversion to the mean,” or the inevitable tendency of above-average results to be followed by below-average results (and vice versa).
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks advanced for a second day as pot stocks outperformed. The S&P/TSX Composite index rose 0.2% Tuesday, supported by health and energy shares, while the materials and consumer staples sectors led decliners. Aphria was the day’s best performing stock, driven higher after Cantor said the larger Canadian cannabis companies deserve to trade at a premium to their U.S.-focused peers. On the M&A front, Onex Corp. and Pierre Karl Peladeau are contenders to buy Transat AT, if the tour operator’s deal to be acquired by Air Canada falls apart, according to a Desjardins Securities analyst. Meanwhile, Canadian home buyers are facing the tightest market on record, with a purchasing frenzy driven by the Covid-19 pandemic showing no signs of slowing down.
Commodities
* Western Canadian Select crude oil traded at a $11.25 discount to West Texas Intermediate
* Spot gold fell 1.4% to $1,793.96 an ounce
FX/Bonds
* The Canadian dollar fell 0.4% to C$1.2691 per U.S. dollar
* The 10-year Canada government bond yield rose about 9 basis points to 1.116%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose for the second
day, climbing 0.2 percent, or 32.29 to 18,492.50 in Toronto.
Aphria Inc. contributed the most to the index gain and had the largest move, increasing 27.6 percent.
Today, 99 of 220 shares rose, while 116 fell; 4 of 11 sectors were higher, led by energy stocks.
Insights
* The index advanced 3.6 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 0.5 percent below its 52-week high on
Feb. 16, 2021 and 65.5 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.9 percent in the past 5 days and rose 3.3 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
28.2 on a trailing basis and 17.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.85t
* 30-day price volatility fell to 13.59 percent compared with
13.76 percent in the previous session and the average of 11.48 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 32.1073| 1.5| 18/4
Financials | 21.6847| 0.4| 16/8
Health Care | 21.0561| 7.0| 8/1
Information Technology | 4.2475| 0.2| 3/7
Real Estate | -0.3769| -0.1| 11/14
Consumer Discretionary | -1.2582| -0.2| 4/9
Communication Services | -1.4873| -0.2| 3/3
Utilities | -3.6215| -0.4| 6/10
Consumer Staples | -5.2942| -0.8| 4/7
Industrials | -13.8687| -0.6| 12/17
Materials | -20.6718| -0.9| 14/36
US
By Kamaron Leach and Andreea Papuc
(Bloomberg) — U.S. bond yields surged to the highest in a year, while American stocks climbed to records as optimism over the economic recovery continued to ripple through markets. The yield on the benchmark 10-year Treasury note increased as much as nine basis points to 1.30%, the highest since February 2020. Global bonds extended the worst start to a year since 2013. The S&P 500, Nasdaq Composite and Dow Jones Industrial Average indexes all set records Tuesday, before easing from the
highs. The MSCI benchmark for emerging and developed market stocks snapped an 11 session winning streak. The reflation trade is powering assets tied to economic growth and price pressure, including commodities and cyclical stocks.
At the same time, investors are riding a wave of speculative euphoria from penny stocks to Bitcoin amid abundant policy support. “We certainly have data that suggests that being more glass half full than glass half empty remains the right posture,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management. “People are looking at parts of the world as well as sectors that have been underperforming and saying ‘hey this is maybe the next part of the market that heads higher.’” Here’s a look at how it’s playing out in global markets:
Stocks
The S&P 500 fell less than 0.1% as of 4:01 p.m. in New
York. It has added 4.7% so far in 2021. The Russell 2000, which has surged 15% this year, edged lower.
In Japan, the Nikkei 225 Stock Average extended its advance
past the 30,000 level. European markets were mostly little changed after a rally on Monday.
Commodities
Brent oil is holding near a 13-month high after freezing
temperatures crippled the Texas power system and disrupted crude
production. Nearly 5 million people across the U.S were plunged
into darkness as homes and businesses lost power. Natural gas
futures for March delivery surged as much as 10%.
In metals, copper climbed to the highest since 2012 and tin
extended a dramatic surge. Citigroup Inc. forecasts copper
prices will rally to $10,000 a ton in six to 12 months on a
better-than-expected recovery in demand, most notably outside China.
Bonds
Global debt markets are extending a selloff as investors
shift money to riskier assets. German bunds and U.K. gilts both
saw benchmark yields rise. The Treasury 30-year equivalent pushed above 2%.
Currencies
The dollar strengthened against most of its major peers.  The pound edged higher to $1.3911.
Bitcoin crossed a new milestone, surpassing $50,000 as the
blistering rally continues to captivate investors. Tesla Inc.’s
announcement that it added $1.5 billion in Bitcoin to its
balance sheet was the most visible recent catalyst. Companies
such as Mastercard Inc. and Bank of New York Mellon Corp. have
also moved to make it easier for customers to use cryptocurrencies.
Here are some key events coming up:
* Earnings roll on with companies including, Daimler, Credit Suisse, Deere, Danone and Nestle.
* Federal Open Market Committee minutes from the January meeting are due Wednesday.
* U.S. retail sales figures come on Wednesday.

Have a great night.

Be magnificent!
As ever,

Carolann

Success is not final, failure is not fatal:  it is the courage
to continue that counts. –Winston Churchill, 1874-1965.

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.

It’s the start of the Lunar New Year!  Welcome to the Year of the Ox.

1554 – Lady Jane Grey, who had claimed the throne of England for nine days, was beheaded after being charged with treason.  Go to article »

Charles Darwin, naturalist, b. 1809
Abraham Lincoln, president, b. 1809.
R. Buckminster Fuller, architect, engineer, b. 1895.

Stonehenge may be a rebuilt stone circle from Wales, new research suggests.  That means those 43 huge stones were moved 150 miles. 

Here’s more evidence humans absorbed Neanderthals.

In pictures | Award-winning shots of Britain’s glorious night sky.

For Valentine’s Day: Celebrate love by learning to do it better.
Here are five movies about the power and resilience of romance, and five more about its misfortunes. Make your cinematic choices wisely

Quote of the Day:  “All of it washed down with red wine” – How a French nun celebrated her 117th birthday.  Everything’s aged to perfection.

PHOTOS OF THE DAY

Street actor Usman Khan, dressed up as silent film star Charlie Chaplin, performs at a train station in Pakistan’s northwestern city of Peshawar
CREDIT: ABDUL MAJEED/AFP VIA GETTY IMAGES

An ice diver prepares to dive in a hole on the frozen Lac de Montriond, at the Avoriaz ski resort, French Alps
CREDIT: JEFF PACHOUD?AFP VIA GETTY IMAGES

People ice skate on the icy Hofvijver pond in The Hague
CREDIT: BART MAAT/ANP?AFP VIA GETTY IMAGES

A baby kangaroo has a loving cuddle with its mother in Batemans Bay, New South Wales, Australia
CREDIT: LEAH-ANNE THOMPSON/ CATERS NEWS

Gary and Julie Winn enjoy a romantic moment on the snow covered hills above Downholme, in Swaledale, North Yorkshire
CREDIT: LORNE CAMPBELL/GUZELAIN
Market Closes for February 12^th, 2021

Market Index	Close	Change
Dow Jones	31458.40	+27.20
		+0.09%
S&P 500	3934.83	+18.45
		+0.47%
NASDAQ	14095.473	+69.699 +0.50%
TSX	18460.21	+67.22
		+0.37%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	29520.07	-42.86
		-0.14%
HANG SENG	30173.57	+134.85
		+0.45%
SENSEX	51544.30	+12.78
		+0.02%
FTSE 100*	6589.79	+61.07 +0.94%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.029	1.000
CND. 30 Year Bond	1.634	1.597
U.S.    10 Year Bond	1.2082	1.1632
U.S. 30 Year Bond	2.0086	1.9500

Currencies

BOC Close	Today	Previous
Canadian $	0.7879	0.7870
US $	1.2691	1.2707
Euro Rate 1 Euro=		Inverse
Canadian $	1.5384	0.6500
US $	1.2121	0.8250

Commodities

Gold	Close	Previous
London Gold Fix	1840.10	1842.65
Oil
WTI Crude Future	59.47	58.24

Market Commentary:
     On this day in 1970, after 178 years, the New York Stock Exchange finally elected its first African-American member, Joseph L. Searles III. Hit by the bear market of 1970, Mr. Searles was forced to give up his membership that November.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities gained for a second straight week as energy firms, including Inter Pipeline Ltd. and Enerplus Corp., led the charge. The S&P/TSX Composite Index rose 0.4% Friday, with eight of 11 sectors higher. Industrials led Friday’s gain. Air Canada’s top executive is growing more optimistic about the chances of a government aid package, as a prolonged travel slump forces the Montreal-based airline to further cut capacity. Purpose Investments Inc. said Canadian securities regulators have cleared the launch of the Purpose Bitcoin ETF, making it the first to gain regulatory approval in North America. Oil in London climbed for a fourth straight week as efforts to clear an oil surplus are seen holding the market over until demand comes back in force.
Commodities
* Western Canadian Select crude oil traded at a $12 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,822 an ounce
FX/Bonds
* The Canadian dollar rose less than 0.1% to C$1.2700 per U.S. dollar
* The 10-year Canada government bond yield rose 3.0 basis points to 1.026%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose 0.4 percent at
18,460.21 in Toronto. The move follows the previous session’s decrease of 0.4 percent.
Canadian National Railway Co. contributed the most to the
index gain, increasing 2.3 percent. PrairieSky Royalty Ltd. had the largest increase, rising 8.2 percent.
Today, 135 of 220 shares rose, while 83 fell; 8 of 11 sectors were higher, led by industrials stocks.
Insights
* So far this week, the index rose 1.8 percent
* The index advanced 3.5 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 0.4 percent below its 52-week high on Feb. 10, 2021 and 65.2 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of
27.4 on a trailing basis and 17.6 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.84t
* 30-day price volatility fell to 13.76 percent compared with
13.80 percent in the previous session and the average of 10.89 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Industrials | 32.8048| 1.5| 20/9
Energy | 20.3860| 0.9| 20/2
Financials | 18.2222| 0.3| 16/10
Consumer Staples | 5.2923| 0.8| 8/3
Materials | 2.8435| 0.1| 35/16
Real Estate | 0.3778| 0.1| 14/11
Communication Services | 0.0304| 0.0| 5/2
Consumer Discretionary | 0.0203| 0.0| 4/9
Health Care | -0.3838| -0.1| 4/4
Utilities | -4.0370| -0.4| 6/10
Information Technology | -8.3537| -0.4
US
By Vildana Hajric
(Bloomberg) — U.S. stocks advanced as investors looked toward signs that Washington is moving ahead with a spending bill. Oil futures rallied, while yields on benchmark Treasury notes rose past 1.2%. The S&P 500 closed at an all-time high ahead of a three-day weekend, adding more than 1% for the week, with energy producers among the best performers. Expedia Group Inc. fell after reporting results that missed expectations. European stocks gained. Hovering near record highs, stocks are looking for fresh catalysts. Even as vaccines are distributed to millions, the emergence of new virus variants threaten to extend lockdowns and delay economic recoveries.
House Democrats made progress on the spending bill, approving $1,400 checks to most Americans. The Senate remained occupied by former President Donald Trump’s impeachment trial. “Largely moving sideways is a reflection of the fact that we’ve had some pretty significant volatility in the two weeks preceding that and now we’re waiting for some of the current catalysts to manifest themselves,” said Arthur Hogan, chief market strategist at National Securities Corp. The MSCI World index of global stocks climbed 1.8% in the past five days, setting its own record. Part of the driver for the rally is that investors believe President Joe Biden’s Covid-19 relief package will deliver plenty of aid to the U.S. economy. At the same time, the vaccine rollout is making progress. Biden announced on Thursday that the U.S. has finished deals for 100 million additional vaccine doses each from Pfizer Inc. and Moderna Inc.

Here are the main moves in markets:
Stocks
The S&P 500 Index rose 0.5% at 4 p.m. in New York.
The Nasdaq Composite Index rose 0.5%.
The Dow Jones Industrial Average added 0.1%.
The MSCI All-Country World Index gained 0.4% with its 10^th straight advance.
Currencies
The Bloomberg Dollar Spot Index rose less than 0.1%.
The euro fell 0.1% to $1.2116.
The Japanese yen weakened 0.2% to 104.97 per dollar.
Bonds
The yield on 10-year Treasuries rose four basis points to 1.21%.
Germany’s 10-year yield jumped three basis points to -0.43%, the highest in more than five months.
Britain’s 10-year yield rose five basis points to 0.52%, the highest in about 11 months.
Commodities
West Texas Intermediate crude jumped 2.3% to $59.59 a barrel, the highest in more than two years.
Gold slipped 0.3% to $1,819.54 an ounce.
–With assistance from Cecile Gutscher.
Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

Fortune favors the brave. –Virgil,  70 BC-19 BC.

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

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

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

Dear Friends,

Tangents: Asian New Year –  Year of the Ox.

February 11^th, 1990~Nelson Mandela released after 27 years imprisonment in South Africa.

1937 A sit-down strike against General Motors ended with the company agreeing to recognize the United Automobile Workers Union.  Go to article »

Thomas Edison, inventor, b. 1847.
Jennifer Aniston, actress, b. 1969.

Stream “Knives Out,” “Beginners” and more films starring Christopher Plummer, who died last week at 91.

New evidence suggests Richard III really did kill the princes in the tower.

In 2019, a seismologist stumbled upon a fin whale song and discovered the soundwaves could penetrate the rock of the ocean floor, offering a glimpse of as much as 8,200 feet into the crust without adding to the sound pollution humans inflict on the oceans. His study, published this week, details the method.  It may also prove useful to marine ecologists. Just as seismometers on land have been trying to track elephants, oceanic seismometers might help track fin whales, which have been endangered by climate change, habitat loss and the grim legacy of commercial whaling.  “We can use the tools of biology to study seismology,” another scientist said. “And we can use the tools of seismology to study biology.”

When you realize it’s not Friday yet…it will be soon
PHOTOS OF THE DAY

Regina King and Best Actor in a Supporting Role winner Brad Pitt walk backstage during the 92nd Oscars
CREDIT: RICHARD HARBAUGH/AMPAS/AFP VIA GETTY IMAGES

A model walks the runway for the Jason Wu Collection during February 2020 – New York Fashion Week: The Shows at Skylight Modern.
CREDIT: DIMITRIOS KAMBOURIS/GETTY IMAGES

Worshippers gather around candles stuck to jars of honey, arranged as a cross, during mass for the ‘sanctification of honey’ at the Presentation of the Blessed Virgin church in the town of Blagoevgrad, Bulgaria.
CREDIT: VALENTINA PERTOVA/AP
Market Closes for February 11^th, 2021

Market Index	Close	Change
Dow Jones	31430.70	-7.10
		-0.02%
S&P 500	3916.38	+6.50
		+0.17%
NASDAQ	14025.773	+53.239 +0.38%
TSX	18392.99	-64.79
		-0.35%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	29562.93	+57.00
		+0.19%
HANG SENG	30173.57	+134.85
		+0.45%
SENSEX	51531.52	+222.13
		+0.43%
FTSE 100*	6528.72	+4.36 +0.07%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.000	.989
CND. 30 Year Bond	1.597	1.574
U.S.    10 Year Bond	1.1632	1.1225
U.S. 30 Year Bond	1.9500	1.9074

Currencies

BOC Close	Today	Previous
Canadian $	0.7870	0.7875
US $	1.2707	1.26985
Euro Rate 1 Euro=		Inverse
Canadian $	1.5411	0.6489
US $	1.2128	0.8245

Commodities

Gold	Close	Previous
London Gold Fix	1842.65	1839.60
Oil
WTI Crude Future	58.24	58.68

Market Commentary:
On this day in 1956, the Korean Stock Exchange was established in Seoul.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities ended their eight-day win streak Thursday after marijuana shares plunged.
The S&P/TSX Composite Index fell 0.4%. Health care and materials led the drop, while industrials were among the gainers.
Tilray Inc. fell the most on record, halting a record three-day rally as a Reddit-inspired attempt to pump up the cannabis sector quickly unraveled. Inter Pipeline Ltd. surged as Brookfield Infrastructure Partners LP made a hostile C$7.1 billion ($5.6 billion) offer following the failure of previous talks to produce a friendly deal. Air travel in Canada hasn’t even begun to bounce back from the Covid-19 crisis. Passenger traffic at airport checkpoints in January was just 13% of last year’s levels, versus 38% in the U.S., according to data from the countries’ transportation authorities. The situation for airlines is getting worse, even though virus cases are dropping.
Sun Life Financial Inc. will pay employees a C$500 bonus to thank them for their work during the Covid-19 pandemic and keep many staff working from home until at least September.
Commodities
* Western Canadian Select crude oil traded at an $11.25 discount to West Texas Intermediate
* Spot gold fell 0.9% to $1,826.31 an ounce
FX/Bonds
* The Canadian dollar was little changed at C$1.2699 per U.S. dollar
* The 10-year Canada government bond yield edged higher to 0.997%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell 0.4 percent at 18,392.99 in Toronto. The move was the biggest since falling 1.8 percent on Jan. 29 and follows the previous session’s increase of 0.3 percent.
Today, health care stocks led the market lower, as 6 of 11 sectors lost; 125 of 220 shares fell, while 93 rose. Aphria Inc. contributed the most to the index decline and had the largest move, decreasing 36.0 percent.
Insights
* So far this week, the index rose 1.4 percent
* The index advanced 3.5 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 0.7 percent below its 52-week high on Feb. 10, 2021 and 64.6 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 1.9 percent in the past 5 days and rose 2.6 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 27.4 on a trailing basis and 17.6 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.86t
* 30-day price volatility fell to 13.80 percent compared with 13.93 percent in the previous session and the average of 10.69 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Health Care | -61.0760| -16.8| 1/8
Materials | -29.0541| -1.2| 13/38
Energy | -8.4874| -0.4| 9/13
Communication Services | -5.0923| -0.6| 3/4
Utilities | -4.1149| -0.4| 8/8
Information Technology | -2.2951| -0.1| 5/5
Real Estate | 1.1593| 0.2| 10/16
Consumer Discretionary | 1.4029| 0.2| 8/5
Consumer Staples | 1.6004| 0.2| 7/4
Industrials | 14.0030| 0.6| 15/13
Financials | 27.1645| 0.5| 14/11
US
By Andreea Papuc and Adam Haigh
(Bloomberg) — U.S. stocks rose to a record with a late- session advance, while Treasuries slipped as a decline in jobless claims signaled a modest firming of the labor market.
The S&P 500 Index halted a two-day decline. Gains for tech shares lifted the Nasdaq 100 to a bigger advance. Ten-year Treasury yields rose to about 1.15%. In Europe, the Stoxx 600 Index was buoyed by strong results from Royal Mail Plc and Credit Agricole SA.
Applications for U.S. state unemployment benefits fell slightly last week in a sign that the labor market is still gradually improving as the vaccine rollout continues and business restrictions ease. After a sharp run-up in equities at the start of February, U.S. stocks have taken a pause as investors weighed the implications of the latest inflation data.
In the background, there’s still a debate over whether more U.S. stimulus, the vaccine distribution and the government’s determination to kickstart growth will cause the American economy to overheat. “While inflation is not showing up in the data right now, inflation is on its way thanks to fiscal and monetary stimulusand pent-up consumer demand that should intensify as the economy reopens,” Nancy Davis, founder of Quadratic Capital Management, said in a note.
In a speech Wednesday, Federal Reserve Chair Jerome Powell said the U.S. job market remains a long way from a full recovery and called on both lawmakers and the private sector to support workers. He also said it will require more than supportive monetary policy to achieve and sustain maximum employment.
Elsewhere in markets, oil slumped after capping the longest run of gains in two years. The dollar held steady and Bitcoin climbed above $47,000. In Asia, several markets in the region were closed ahead of the Lunar New Year holiday.
Here are some key events coming up:
* Lunar New Year public holidays begin in nations across Asia, with China breaking for a week.
* Bank of Russia’s policy decision comes Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.2% as of 4 p.m. in New York.
* The Stoxx Europe 600 Index advanced 0.5%.
* The MSCI Asia Pacific Index increased 0.2%.
* The MSCI Emerging Market Index advanced 0.4%.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro advanced 0.1% to $1.2125.
* The British pound fell 0.2% to $1.3806.
* The Japanese yen weakened 0.2% to 104.79 per dollar.
Bonds
* The yield on 10-year Treasuries advanced one basis point to 1.15%.
* The yield on two-year Treasuries was unchanged at 0.11%.
* Germany’s 10-year yield decreased two basis points to -0.46%.
* Britain’s 10-year yield decreased two basis points to 0.47%.
Commodities
* West Texas Intermediate crude fell 0.8% to $58.22 a barrel.
* Gold fell 0.9% to $1,826.68 an ounce.
–With assistance from Michael Msika.

Have a great night.

Be magnificent!
As ever,

Carolann

He is a man whom it is impossible to please because he is never pleased with himself.
                                                            –Johann Wolfgang von Goethe, 1749-1832.

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

Dear Friends,

Tangents:
1763 France ceded Canada to England under the Treaty of Paris, which ended the French and Indian War.  Go to article »

1906 – British battleship HMS Dreadnought launches after only 100 days, renders all other capital ships obsolete with its revolutionary design.

More than 650 silver Roman coins found in a jug in Turkey.  A truly epic piggy bank. 

Aunt Jemima finally has a new name.  Fare ye well, Ms. Jemima. Hello, Pearl Milling Company

A meteorologist lost his wallet in Antarctica in the 1960s. He just got it back.

Scientists 3-D-printed a steak. (h/t Mike Smedley)

Ode to music, in all shapes and forms.  -from the NY Times.
The foot-long conch is an extremely rare example of a “seashell horn” from the Paleolithic period. And it still works. A musician recently coaxed three notes from the 17,000-year-old shell. Listen here
We also asked Manfred Honeck, the music director of the Pittsburgh Symphony Orchestra and a leading Beethoven conductor, to guide us through the beginning of the end of the mighty Ninth Symphony. In the orchestra’s new interpretation, Honeck has rethought each bar of the music leading into the “Ode to Joy.”
“What makes Beethoven so special is that everything has a purpose,” says Honeck. “The melody starts from piano” — in the sense of “quietly, softly” — “creating a long journey until the full, joyful song.”

PHOTOS OF THE DAY

Alessandro Haemmerle of Austria catches some air during the FIS Freestyle Ski Cross And Snowboard Cross World Championships Men’s and Women’s Snowboard Cross Qualifications in Idre Fjall, Sweden
CREDIT: NISSE SCHMIDT/AGENCE ZOOM

A staff member at Royal Botanic Garden Edinburgh clears snow from the Queen Mother’s Garden
CREDIT: KATIELEE ARROWSMITH/SWNS

A cat strolls through incense sticks drying at a home-industry factory, ahead of the Chinese Lunar New Year, in Tangerang, on the outskirts of Jakarta, Indonesia
CREDIT: WILLY KURNIAWAN/REUTERS

Lucile Randon, who assumed the name of Sister Andre in 1944, has just survived coronavirus, and is now looking forward to her 117th birthday on Thursday.
CREDIT:  NICHOLAS TUCAT/AFP VIA GETTY IMAGES
Market Closes for February 10^th , 2021

Market Index	Close	Change
Dow Jones	31437.80	+61.97
		+0.20%
S&P 500	3903.88	-1.35
		-0.03%
NASDAQ	13972.534	-35.163 -0.25%
TSX	18457.78	+49.16
		+0.27%

 

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	29562.93	+57.00
		+0.19%
HANG SENG	30038.72	+562.53
		+1.91%
SENSEX	51309.39	-19.69
		-0.04%
FTSE 100*	6524.36	-7.20 -0.11%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.989	.998
CND. 30 Year Bond	1.574	1.582
U.S.    10 Year Bond	1.1225	1.1568
U.S. 30 Year Bond	1.9074	1.9478

Currencies

BOC Close	Today	Previous
Canadian $	0.78749	0.78778
US $	1.26985	1.26939
Euro Rate 1 Euro=		Inverse
Canadian $	1.53892	0.64981
US $	1.21189	0.82516

Commodities

Gold	Close	Previous
London Gold Fix	1839.60	1835.25
Oil
WTI Crude Future	58.68	58.40

Market Commentary:
     On this day in 1938, “Fannie Mae” was born, as the National Mortgage Association of Washington was created as a subsidiary of the Reconstruction Finance Corp. Its mission: to buy and sell home mortgages insured by the Federal Housing Administration, in order to create a liquid market for mortgage debt that would encourage lenders to continue making home loans.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities gained for an eighth session Wednesday, their longest rally since November 2019, as cannabis stocks surged. The S&P/TSX Composite Index closed 0.3% higher after briefly trading in the red. Marijuana stocks led the charge while energy and tech also gained. Oil extended its longest winning streak in two years in New York as a decline in U.S. crude inventories further showcased how global supplies are shrinking. Brookfield Asset Management Inc. plans to raise at least $7.5 billion for a new climate-focused fund, as the Canadian investment firm builds out an ESG business led by former Bank of England Governor Mark Carney.
Commodities
* Western Canadian Select crude oil traded at a $11.50 discount to West Texas Intermediate
* Spot gold rose 0.2% to $1,842.46 an ounce
FX/Bonds
* The Canadian dollar fell 0.1% to C$1.2703 per U.S. dollar
* The 10-year Canada government bond yield edged lower to 0.989%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the eighth day, climbing 0.3 percent, or 49.16 to 18,457.78 in Toronto. Today, energy stocks led the market higher, as 6 of 11 sectors gained; 116 of 220 shares rose, while 102 fell. Shopify Inc. contributed the most to the index gain, increasing 1.9 percent. Aurora Cannabis Inc. had the largest increase, rising 21.3 percent.
Insights
* The index advanced 4 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 0.4 percent below its 52-week high on
Feb. 10, 2021 and 65.2 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 3 percent in the past 5 days and rose 2.3 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
27.4 on a trailing basis and 17.6 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.85t
* 30-day price volatility little changed to 13.93 percent
compared with 13.93 percent in the previous session and the average of 10.56 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 26.3036| 1.2| 13/8
Information Technology | 24.7379| 1.2| 3/7
Health Care | 22.1798| 6.5| 7/2
Materials | 11.3722| 0.5| 27/24
Real Estate | 3.2451| 0.6| 21/5
Consumer Staples | 0.2906| 0.0| 6/5
Communication Services | -0.5826| -0.1| 3/3
Utilities | -2.1963| -0.2| 8/8
Consumer Discretionary | -3.6494| -0.5| 6/7
Financials | -12.5110| -0.2| 12/14
Industrials | -20.0280| -0.9| 10/19
US
By Claire Ballentine and Olivia Raimonde
(Bloomberg) — U.S. stocks headed for a second straight drop while Treasury yields dipped after a tame inflation reading raised worries that short-term economic growth remains lackluster. Technology shares led the declines, while the Dow Jones Industrial Average was little changed. The 10-year Treasury yield fell back below 1.15% after the core consumer price index was unchanged last month. Stocks started the day at an all-time high on speculation the weak reading on prices meant growth could accelerate without bringing destabilizing inflation. The CPI data are part of an intensifying debate in financial markets over the course of inflation. Despite the muted January figure, investors continue to worry that price pressures are set to increase in the months ahead as Congress passes an aid bill and more vaccinations spur consumer spending. “The stock market has seen a strong rally over the past six trading days, so I think it’s just using the inflation data as an excuse to take a breather,” said Matt Maley, chief market strategist at Miller Tabak + Co. Twitter Inc. climbed after reporting a jump in revenue.
Lyft Inc. rallied as the co-founder said the ride-hailing company will “absolutely” turn a quarterly profit this year. European shares edged lower, while stocks in Asia gained. Outside of equities, the moves were relatively muted. Oil prices climbed. The dollar turned lower following the inflation report. Surging Inflation May Force Fed to Resort to Yield Curve-Control Elsewhere, platinum rallied to a six-year high on expectations it will benefit from tight supplies and investment demand. Bitcoin slipped below $45,000. Yields on the 30-year Treasury were holding just below 2% after crossing that threshold earlier this week.
Here are some key events coming up:
* Federal Reserve Chair Jerome Powell will speak on a webinar Wednesday.
* Lunar New Year public holidays begin in nations across Asia, with China breaking for a week.
* Bank of Russia’s policy decision comes Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.4% as of 12:05 p.m. in New York.
* The Stoxx Europe 600 Index fell 0.1%.
* The MSCI Asia Pacific Index rose 0.8%.
* The MSCI Emerging Market Index gained 1.1%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%.
* The euro added 0.1% to $1.2134.
* The British pound rose 0.2% to $1.3844.
* The Japanese yen slipped 0.1% to 104.68 per dollar.
Bonds
* The yield on 10-year Treasuries fell two basis points to 1.14%.
* The yield on two-year Treasuries was unchanged at 0.11%.
* Germany’s 10-year yield rose one basis point to -0.44%.
* Britain’s 10-year yield climbed two basis points to 0.48%.
Commodities
* West Texas Intermediate crude gained 0.6% to $58.73 a barrel.
* Gold fell 0.1% to $1,836.45 an ounce.
–With assistance from Anchalee Worrachate.
Have a great night.

Be magnificent!
As ever,

Carolann

Let me tell you the secret that has led me to my goal.  My strength lies solely in my tenacity. -Louis Pasteur, 1822-1895

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 Feb. 9, 1943, the World War II battle of Guadalcanal in the southwest Pacific ended with an American victory over Japanese forces.  Go to article »
February  9, 1972 ~British government declares state of emergency after month-long coal miners’ strike.

Carole King, songwriter, b. 1942

Scientists visit very old cave paintings, find an even older fossil. (h/t Ellen Kominers) 

You should try a ‘Shultz hour’
When George Shultz — who died Saturday at 100 — was secretary of state under Ronald Reagan in the 1980s, he developed a weekly ritual. He closed the door to his office and sat down with a pen and a pad of paper. For the next hour, Shultz tried to clear his mind and think about big ideas, rather than the minutiae of government work.
Only two people could interrupt him, he told his secretary: “My wife or the president.”
Shultz told me that story when I interviewed him a few years ago, and it has stuck with me, because it’s even more useful advice today than it was four decades ago. These days, we are constantly interrupted by minutiae, via alerts and text messages. They can make it impossible to carve out time to think through difficult problems in new ways or come up with creative ideas.
Letting your mind wander, Sandi Mann, a British psychologist, has said, “makes us more creative, better at problem-solving, better at coming up with creative ideas.” The Dutch have a word for this concept: niksen, or the art of doing nothing. (And here’s a GQ interview in which the journalist Manoush Zomorodi argues that boredom could open the mind to creativity, problem-solving and more ambitious life goals.)
Shultz’s biggest accomplishment in government was precisely such a fresh idea: a recognition — which most other Reagan advisers lacked — that Mikhail Gorbachev was serious about reforming the Soviet Union.
As Amos Tversky, a pathbreaking psychologist, said, “You waste years by not being able to waste hours.” –NY Times.

PHOTOS OF THE DAY

The Kraken house float, on Memphis St., in Lakeview, is one of thousands in the New Orleans area decorated in celebration of Mardi Gras in Louisiana, USA
CREDIT: KATHLEEN FLYNN/REUTERS

Dubai’s Burj Khalifa is lit up in red with an slogan reading in Arabic, “Mission accomplished” as the UAE’s “Al-Amal” — Arabic for “Hope” — probe successfully enters Mars’ orbit, making history as the Arab world’s first interplanetary mission
CREDIT: GLUSEPPE CACACE/AFP VIA GETTY IMAGES

An early morning swimmer plays with the snow at the beach in Thorpe End, Essex, as bitterly cold winds from Storm Darcy continue to grip much of the nation
CREDIT: VICTORIA JONES/PA

A resident clears the sidewalk in front of her front door of snow in Wernigerode, Germany
CREDIT: MATTHIAS BEIN/AP
Market Closes for February 9^th , 2021

 

Market Index	Close	Change
Dow Jones	31375.83	-9.93
		-0.03%
S&P 500	3911.23	-4.36
		-0.11%
NASDAQ	14007.699	+20.057 +0.14%
TSX	18408.62	+78.36
		+0.43%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	29505.93	+117.43
		+0.40%
HANG SENG	29476.19	+156.72
		+0.53%
SENSEX	51329.08	-19.69
		-0.04%
FTSE 100*	6531.56	+8.03 +0.12%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.998	1.012
CND. 30 Year Bond	1.582	1.588
U.S.    10 Year Bond	1.1568	1.1619
U.S. 30 Year Bond	1.9478	1.9442

Currencies

BOC Close	Today	Previous
Canadian $	0.78778	0.78507
US $	1.26939	1.27378
Euro Rate 1 Euro=		Inverse
Canadian $	1.53828	0.65008
US $	1.21182	0.82520

Commodities

Gold	Close	Previous
London Gold Fix	1835.25	1802.95
Oil
WTI Crude Future	58.40	57.97

Market Commentary:
On this day in 1585, the Frankfurt Stock Exchange (Frankfurter Wertpapierborse) was established.
Canada
By Michael Bellusci
(Bloomberg) — Canadian stocks gained for a seventh straight session Tuesday, with Canopy Growth Corp.’s earnings sparking a rally in marijuana companies. The S&P/TSX Composite Index rose 0.4%, with health-care and information technology leading the way. Horizons Marijuana Life Sciences Index ETF jumped 13%, most since February 2018. Shopify Inc. rose 6.1%, leading tech stocks higher after expanding Shop Pay to merchants selling on Facebook and Instagram. Democratic Senator Joe Manchin asked President Biden to reconsider his decision to cancel the Keystone XL oil pipeline and warned against other energy policy moves that could hinder “safety, jobs and energy security.”
Commodities
* Western Canadian Select crude oil traded at a $10.90 discount to West Texas Intermediate
* Spot gold rose 0.4% to $1,837 an ounce
FX/Bonds
* The Canadian dollar rose 0.3% to C$1.2699 per U.S. dollar
* The 10-year Canada government bond yield fell 1.5 basis points to 0.997%

By Bloomberg Automation:
    (Bloomberg) — The S&P/TSX Composite rose for the seventh day, climbing 0.4 percent, or 78.36 to 18,408.62 in Toronto. Today, information technology stocks led the market higher, as 4 of 11 sectors gained; 87 of 220 shares rose, while 128 fell. Shopify Inc. contributed the most to the index gain, increasing 6.1 percent. Aphria Inc. had the largest increase, rising 24.5 percent.
Insights
* The index advanced 4.3 percent in the past 52 weeks. The MSCI
AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0.1 percent below its 52-week high on
Feb. 9, 2021 and 64.8 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 3 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
27.1 on a trailing basis and 17.5 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.84t
* 30-day price volatility fell to 13.93 percent compared with
14.03 percent in the previous session and the average of 10.41 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 77.0216| 3.7| 3/7
Health Care | 26.1647| 8.3| 7/2
Financials | 7.7619| 0.1| 14/12
Industrials | 6.2682| 0.3| 13/15
Consumer Discretionary | -0.3644| -0.1| 7/6
Real Estate | -0.5790| -0.1| 7/18
Communication Services | -3.0640| -0.3| 3/3
Consumer Staples | -3.8838| -0.6| 7/3
Utilities | -5.1773| -0.6| 5/11
Materials | -11.8391| -0.5| 12/38
Energy | -13.9711| -0.7| 9/13
US
By Olivia Raimonde
(Bloomberg) — U.S. stocks halted a six-day winning streak as investors debated whether commitments by the Federal Reserve and the Biden administration to let the economy run hot will spark destabilizing inflation. The S&P 500 Index edged lower from an all-time high after a 5.4% surge this month fueled by signs the Biden administration intends to pass a sizable aid bill while the central bank promises to keep rates pinned near zero. The Nasdaq 100 Index  eked out a gain, while small caps notched the longest rally since December 2019. Treasuries advanced and the dollar fell for a third straight session. Stretched valuations are giving investors pause as they cheer advancing vaccination efforts, rising stimulus prospects and a slowdown in coronavirus infections across the globe.
With inflation expectations near the highest since 2013, questions have also begun to be raised about when the so-called reflation trade in bonds could start to threaten equities. “We are getting to the point where we have to start worrying about the risk of how do we pull back on that stimulus, will it cause the economy to overheat, are these valuations becoming too expensive,” Saira Malik, Nuveen head of global equities, said on Bloomberg TV. “That is something we are going to be grappling with as the year goes on.” Elsewhere, Brent oil hovered around $60 a barrel on signs the global market is tightening and demand is improving. Bitcoin pared an earlier jump to a record after Tesla Inc. bought $1.5 billion of the cryptocurrency.

Here are some key events coming up:
* Earnings season continues with companies including Cisco Systems, Societe Generale and L’Oreal.
* EIA crude oil inventory report comes Wednesday.
* Sweden will set monetary policy on Wednesday.
* Federal Reserve Chair Jerome Powell will speak on a webinar Wednesday.
* The U.S. consumer price index comes Wednesday.
* Lunar New Year public holidays begin in nations across Asia, with China breaking for a week.
* Bank of Russia’s policy decision comes Friday.

These are the main moves in markets:
Stocks
* The S&P 500 fell 0.1% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index lost 0.1%.
* The MSCI Asia Pacific Index advanced 0.4%.
* The MSCI Emerging Market Index gained 0.7%.
Currencies
* The Bloomberg Dollar Spot Index dipped 0.5%.
* The euro advanced 0.6% to $1.2118.
* The British pound gained 0.5% to $1.3809.
* The onshore yuan strengthened 0.2% to 6.436 per dollar.
* The Japanese yen strengthened 0.6% to 104.57 per dollar.
Bonds
* The yield on 10-year Treasuries decreased two basis points to 1.15%.
* The yield on two-year Treasuries rose to 0.115%.
* Germany’s 10-year yield was flat near -0.45%.
* Britain’s 10-year yield fell to 0.461%.
* Japan’s 10-year yield advanced less than one basis point to 0.073%.
Commodities
* West Texas Intermediate crude rose 0.6% to $58.32 a barrel.
* Brent crude added 0.9% to $61.12 a barrel.
* Gold futures strengthened 0.1% to $1,836.10 an ounce.
–With assistance from Anil Varma.
Have a great night.

Be magnificent!
As ever,

Carolann

The lowest ebb is the turn of the tide. -Henry Wadsworth Longfellow, 1807-1882

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

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

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

Dear Friends,

Tangents:
February 8, 1672 ~ Isaac Newton reads first optics paper before Royal Society in London.
1971 NASDAQ, the world’s first electronic stock exchange, held its first trading day. Go to article »

Jules Verne, author, b.1828.
Lana Turner, actor, b. 1921.
James Dean, actor b. 1931.

A 3D-printed house is for sale in New York, and it’s the first of its kind.  Start saving up: It’s almost $300,000. 

Harvard astronomer argues that alien vessel paid us a visit.

Last fall, astronomers made the blockbuster claim that they had discovered compelling evidence of phosphine, pointing to the presence of life floating in the clouds above the second planet from the sun.
Even after lowering their estimates of how much phosphine may be present, the researchers are still certain of their findings. Many of their peers, however, remain doubtful, creating a stalemate until further observations can be made.  “There’s nothing you can point to that says, ‘Oh, yeah, we absolutely see phosphine on Venus,’” said Bryan Butler of the National Radio Astronomy Observatory in Socorro, N.M. But he added that the matter was not settled. “You know, it’s tantalizing,” he said.-NY Times.

Amanda Gorman read a new poem before the game.

Admire stark landscapes in Louisiana, where the Mississippi River meets the Gulf of Mexico.

Hear new tracks by H.E.R., Nile Rodgers and Cardi B
PHOTOS OF THE DAY
A commercial aircraft appearing like a small, black stamp on the surface of the Sun
CREDIT: ANDREW MCCARTHY/SWNS
A person walks through a snow-covered vineyard at the Mainschleife area near Nordheim, Germany.
CREDIT: KARL-JOSEF HILDENBRAND/DPA VIA AP
A bus drives along frozen trees in Oberreifenberg near Frankfurt, Germany
CREDIT: MICHAEL PROBST
Market Closes for February 8^th , 2021

Market Index	Close	Change
Dow Jones	31385.76	+237.52
		+0.76%
S&P 500	3915.59	+28.76
		+0.74%
NASDAQ	13987.641	+131.345 +0.95%
TSX	18330.26	+194.36
		+1.07%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	29388.50	+609.31
		+2.12%
HANG SENG	29319.47	+30.79
		+0.11%
SENSEX	51348.77	+617.14
		+1.22%
FTSE 100*	6523.53	+34.20 +0.53%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.012	1.000
CND. 30 Year Bond	1.588	1.588
U.S.    10 Year Bond	1.1619	1.1635
U.S. 30 Year Bond	1.9442	1.9711

Currencies

BOC Close	Today	Previous
Canadian $	0.78507	.78387
US $	1.27378	1.27572
Euro Rate 1 Euro=		Inverse
Canadian $	1.53538	0.65131
US $	1.20538	0.82962

Commodities

Gold	Close	Previous
London Gold Fix	1802.95	1785.90
Oil
WTI Crude Future	57.97	56.85

Market Commentary: NASDAQ’s fiftieth anniversary.
     On this day in 1971, after nearly a decade of preparation, the Nasdaq market opened for stock trading, as the National Association of Securities Dealers Automated Quotation system first displayed the median price for more than 2,500 “over-the-counter” securities. The Nasdaq Composite Index was set at an initial value of 100.
Canada
By Michael Bellusci
(Bloomberg) — Canadian stocks rose to a record high Monday, gaining for a sixth-straight session. The S&P/TSX Composite Index rose 1%, with ten of eleven sectors higher. Utilities were the only laggard. The Horizons Marijuana Life Sciences ETF rose 7.3% to its highest level since September 13. Oil in London rose above $60 a barrel for the first time in more than a year in a rally that’s dividing the world’s top oil trading houses. Ontario will gradually lift stay-at-home orders across the province, Premier Doug Ford said Monday, and will allow limited in-person shopping at retailers even in zones with the most Covid-19 cases.
Commodities
* Western Canadian Select crude oil traded at a $10.50 discount to West Texas Intermediate
* Spot gold rose 0.9% to $1,830.07 an ounce
FX/Bonds
* The Canadian dollar rose 0.1% to C$1.2746 per U.S. dollar
* The 10-year Canada government bond yield rose 1.4 basis points to 1.014%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the sixth day, climbing 1.1 percent, or 194.36 to 18,330.26 in Toronto. Shopify Inc. contributed the most to the index gain, increasing 4.5 percent. Aurora Cannabis Inc. had the largest increase, rising 15.8 percent. Today, 158 of 220 shares rose, while 61 fell; 10 of 11 sectors were higher, led by information technology stocks.
Insights
* The index advanced 3.8 percent in the past 52 weeks. The MSCI
AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0 percent below its 52-week high on
Feb. 8, 2021 and 64.1 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 3.6 percent in the past 5 days and rose 1.6 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
27 on a trailing basis and 17.4 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.8 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.81t
* 30-day price volatility rose to 14.03 percent compared with
13.73 percent in the previous session and the average of 10.18 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 61.3799| 3.1| 8/2
Materials | 41.7463| 1.8| 44/7
Financials | 31.7742| 0.6| 19/6
Energy | 30.0894| 1.4| 21/1
Health Care | 15.9755| 5.3| 7/2
Communication Services | 4.5446| 0.5| 7/0
Industrials | 4.0079| 0.2| 16/13
Consumer Staples | 2.8582| 0.4| 9/2
Real Estate | 1.5335| 0.3| 12/14
Consumer Discretionary | 1.1223| 0.2| 8/5
Utilities | -0.6556| -0.1| 7/9
US
By Adam Haigh and Anchalee Worrachate
(Bloomberg) — Rising prospects for a robust federal spending package, coupled with a slowdown in virus infection rates, sent U.S. stocks higher for the sixth straight session. The S&P 500 Index rose 0.7% to an all-time high, spurred by fresh signs the Biden administration is committed to passing a sizable aid bill to address unemployment. An increase in vaccination numbers boosted optimism that the economy will take off later this year. Treasuries started the day lower, but mostly erased losses on speculation recent declines had gone too far with the latest economic data showing some weakness. Commodities prices pointed to renewed optimism in the global economic recovery. Brent oil advanced above $60 a barrel for the first time in more than a year, while copper climbed for a second day and iron ore prices rebounded.        Bitcoin jumped to a record after Tesla Inc. bought $1.5 billion of the cryptocurrency.
“As people feel safer, investors can expect the economy to experience a rebound that should contribute to revenue and earnings growth as the economy reflates,” John Stoltzfus, chief investment strategist at Oppenheimer, wrote to clients. In Europe, Italian equities outperformed as Mario Draghi set about forming a new national government. Dialog Semiconductor Plc shares jumped after the company agreed to be acquired by Renesas Electronics Corp. In Japan, the Topix index ended Monday at the highest since 1991 amid reports the government may lift its state of emergency early for some areas. Investors are taking comfort from the continued rollout of vaccines and data suggesting a declining trend in infections in countries like the U.S. A Citigroup Inc. gauge of global risk aversion dropped to its lowest since the pandemic first roiled markets last year.
Weaker-than-forecast U.S. jobs data Friday reinforced economic risks as the pandemic lingers, but also highlighted the case for further stimulus. “The vaccine roll-out programs certainly suggest that the reflation trade has legs but central banks seem to want to ensure that expectations are kept in check,” Jane Foley, head of foreign exchange strategy at Rabobank, said on Bloomberg TV. “This suggests a choppy ride.” President Joe Biden is pushing for a mammoth $1.9 trillion economic relief measure. Some commentators, such as former Treasury Secretary Larry Summers, have raised questions about the size of the package and risks such as much faster inflation.
Here are some key events coming up:
* Earnings season continues with companies including Honda
Motor, Cisco Systems, Societe Generale and L’Oreal.
* EIA crude oil inventory report comes Wednesday.
* Sweden will set monetary policy on Wednesday.
* Federal Reserve Chair Jerome Powell will speak on a webinar Wednesday.
* The U.S. consumer price index comes Wednesday.
* Lunar New Year public holidays begin in nations across Asia, with China breaking for a week.
* Bank of Russia’s policy decision comes Friday.

These are the main moves in markets
Stocks
* The S&P 500 Index increased 0.7% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index gained 0.3%.
* The MSCI Asia Pacific Index rose 0.9%.
* The MSCI Emerging Market Index climbed 0.3%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%.
* The euro was little changed at $1.2051.
* The onshore yuan strengthened 0.3% to 6.4486 per dollar.
* The Japanese yen weakened 0.2% to 105.21 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 1.17%.
* The yield on two-year Treasuries climbed less than one basis point to 0.11%.
* The 30-year rate fell one basis point to 1.96%.
* Germany’s 10-year yield was little changed at -0.45%.
* Britain’s 10-year yield fell one basis point to 0.47%.
* Japan’s 10-year yield rose one basis point to 0.071%.
Commodities
* West Texas Intermediate crude gained 2% to $58 a barrel.
* Brent crude gained 2.1% to $60.60 a barrel.
* Gold futures strengthened 1% to $1,831.98 an ounce.
–With assistance from Saket Sundria.
Have  a great night.

Be magnificent!
As ever,

Carolann

Mediocrity knows nothing higher than itself, but talent
instantly recognizes genius. –Sir Arthur Conan Doyle, 1859-1930

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

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

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

Dear Friends,

Tangents: Happy Friday.

February 5, 1969 – US population reaches 200 million.
1988 – Panamanian military leader Gen. Manuel Noriega was indicted on bribery and drug trafficking charges in Florida.  Go to article »

Long-haul travel might not resume until 2023.
Childhood diet has a lifelong impact.

Super Bowl Sunday!
Tom Brady, who’s 43 years old, is the most successful quarterback in N.F.L. history. But if any player has a chance to match him someday, it’s Patrick Mahomes, Brady’s 25-year-old counterpart in this weekend’s Super Bowl. “The sport’s biggest legend is about to face its biggest legend in the making,” The Ringer’s Danny Heifetz wrote. -The New York Times.

Super Bowl LV will be a bonanza for gambling companies this weekend.  Chiefs or Bucs, who ya got? 

from The Late Night Hosts:
“So he’s now out of the actors’ union. That’s too bad — I was positive he was going to be the next James Bond.” — JIMMY KIMMEL

“Meanwhile, Melania heard and was like, ‘Um, Donald, while we’re on the subject of leaving unions.’” — JIMMY FALLON

 

February is Black History Month, and every day we’re highlighting Black pioneers in American history. -CNN  Amelia Boynton Robinson, civil rights icon, 1911-2015   Robinson was known as the “the matriarch of the voting rights movement.” A shocking photo of her being beaten by White police officers during the Bloody Sunday march in 1965 in Selma, Alabama, horrified the nation and led to the passage of the Voting Rights Act. It also showed Robinson’s true grit. As far back as the 1930s, she was registering Black voters in Alabama, an act that could have cost her life. In 1964, she became the first African American woman to run for Congress in Alabama.

PHOTOS OF THE DAY

A stockbreeder walks with his flock through the snow in the Gurpinar district of Van, Turkey
CREDIT: MESUT VAROL/ANADOLU AGENCY VIA GETTY IMAGES

Joe and Luke Furguson have been fossil hunting since they were children and have an impressive collection, but this latest find is their best yet. They found this 60lb humerus bone, thought to be from a straight-tusked elephant or mammoth, near Brighstone Beach on the Isle of Wight after weather eroded a cliff
CREDIT: PAUL JACOBS

Sparkling snowboarding suits, tutus and headgear are all created by the LED clothing company SER Brothers. Creator Egor Krukovich
CREDIT: SER BROTHERS / SWNS.COM
Market Closes for February 5^th, 2021 

 

Market Index	Close	Change
Dow Jones	31148.24	+92.38
		+0.30%
S&P 500	3886.83	+15.09
		+0.57%
NASDAQ	13856.296	+78.553 +0.57%
TSX	18135.90	+93.93
		+0.52%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28779.19	+437.24
		+1.54%
HANG SENG	29288.68	+175.18
		+0.60%
SENSEX	50731.63	+117.34
		+0.23%
FTSE 100*	6489.33	-14.39 -0.22%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	1.000	.963
CND. 30 Year Bond	1.588	1.544
U.S.    10 Year Bond	1.1635	1.1392
U.S. 30 Year Bond	1.9711	1.9383

Currencies

BOC Close	Today	Previous
Canadian $	.78387	.77973
US $	1.27572	1.28249
Euro Rate 1 Euro=		Inverse
Canadian $	1.53697	.65063
US $	1.20478	.83002

Commodities

Gold	Close	Previous
London Gold Fix	1785.90	1835.45
Oil
WTI Crude Future	56.85	56.23

Market Commentary:
     On this day in 1637, “Tulipmania” hit its peak in the Netherlands, with the price of the rare Witte Croonen tulip bulb reaching 1,345 guilders per half-pound, up 2,506% in 33 days. Over the next five years, the bulbs lost an annual average of 76% of their value, until they fetched only 37.5 guilders in 1641.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets climbed to a fresh record on Friday, with materials and tech stocks leading the way. The S&P/TSX Composite index rose 0.5% in Toronto. The benchmark advanced 4.6% in the past five days, the biggest weekly gain since April 2020. Meanwhile, the newest wave of Covid lockdowns in Canada is having little impact outside close-contact sectors like retail, easing worries about spillover effects and long-term scarring from the restrictions.
Commodities
* Western Canadian Select crude oil traded at a $10.40 discount to West Texas Intermediate
* Spot gold rose 0.9% to $1,810.53 an ounce
FX/Bonds
* The Canadian dollar rose 0.5% to C$1.2767 per U.S. dollar
* The 10-year Canada government bond yield rose 4 basis points to 0.997%
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the fifth day, climbing 0.5 percent, or 93.93 to 18,135.90 in Toronto. Shopify Inc. contributed the most to the index gain, increasing 1.8 percent. Eldorado Gold Corp. had the largest increase, rising 12.0 percent. Today, 141 of 220 shares rose, while 76 fell; 8 of 11 sectors were higher, led by materials stocks.
Insights
* So far this week, the index rose 4.6 percent, heading for the biggest advance since the week ended April 10
* The index advanced 2.7 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 0.1 percent below its 52-week high on
Feb. 5, 2021 and 62.3 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.8 on a trailing basis and 17.3 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.79t
* 30-day price volatility rose to 13.73 percent compared with
13.68 percent in the previous session and the average of 9.84 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 43.3307| 1.9| 44/6
Information Technology | 28.6214| 1.5| 6/4
Industrials | 12.8779| 0.6| 16/13
Financials | 9.9726| 0.2| 18/7
Energy | 6.3769| 0.3| 16/6
Utilities | 1.7523| 0.2| 9/7
Real Estate | 1.6605| 0.3| 13/12
Consumer Discretionary | 0.4359| 0.1| 8/5
Communication Services | -1.5215| -0.2| 5/2
Health Care | -2.1584| -0.7| 4/5
Consumer Staples | -7.4229| -1.1| 2/9
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks extended their weekly rally after weaker-than-forecast U.S. jobs data bolstered the case for President Joe Biden’s $1.9 trillion coronavirus relief package.  The dollar fell. The House adopted the budget resolution that cleared the Senate early Friday, paving the way to pass a stimulus bill in coming weeks with only Democratic votes. The S&P 500 climbed to another record in its best week since November as all of its major groups but tech rose. The surge in GameStop Corp. after Robinhood Markets Inc. removed limits on buying the stock did little to repair the video-game retailer’s weekly plunge of about 80%. Two-year Treasury note yields matched their record low amid a drop across shorter-dated rates. The recovery in the U.S. labor market disappointed for a second month as modest job growth highlighted the persistently difficult prospects for millions of unemployed Americans.
Nonfarm payrolls increased by just 49,000 after a downwardly revised 227,000 December drop, strengthening the case for another relief package. President Biden gave the strongest indication yet he’ll push for stimulus without Republican support, saying Friday’s weak economic data show the risk of doing “too little.” “The market is going to be in a bad news is good news scenario — bad news is temporary and likely to be met with additional support,” said Steve Chiavarone, portfolio manager and equity strategist at Federated Hermes. “Many investors would have a very hard time selling a market when they know vaccination is coming and they know additional stimulus is coming. It’s just really hard to sell that.” In corporate news, Pinterest Inc. surged as the digital scrapbooking and search company reported sales that topped estimates. In the meantime, Peloton Interactive Inc. sank after saying said it can’t keep up with surging demand for its exercise machines and warning that profit will be squeezed.

These are some of the main moves in markets:
Stocks
* The S&P 500 climbed 0.4% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index was unchanged.
* The MSCI Asia Pacific Index increased 0.9%.
Currencies
* The Bloomberg Dollar Spot Index decreased 0.6%.
* The euro climbed 0.7% to $1.2046.
* The Japanese yen strengthened 0.1% to 105.40 per dollar.
Bonds
* The yield on 10-year Treasuries rose three basis points to 1.17%.
* Germany’s 10-year yield advanced one basis point to -0.45%.
* Britain’s 10-year yield increased four basis points to 0.482%.
Commodities
* West Texas Intermediate crude climbed 1.4% to $57.03 a barrel.
* Gold rose 1% to $1,811.97 an ounce.
* Silver added 2.1% to $26.90 per ounce.

–With assistance from Adam Haigh, Robert Brand, Cecile Gutscher, Claire Ballentine, Sophie Caronello and Nancy Moran.

Have a wonderful weekend everyone.

Be magnificent!

As ever,

Carolann

Too bad ninety percent of the politicians
give the other ten percent a bad reputation.  -Henry Kissinger, b. 1923

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:
February 4, 2004 – Mark Zuckerberg launches Facebook from his Harvard dormitory room.

1977 The album “Rumours” by Fleetwood Mac was released. Go to article »

Archaeologists unearth Egyptian mummies with golden tongues.  Put those back! This is how horror movies start! 

Archaeologists in Israel find purple fabric from the time of King David. (h/t Ellen Kominers) 

Five minutes to make you love string quartets.

And finally, wisdom from an internet prophet. 
You may never have heard of Michael Goldhaber, but the former theoretical physicist saw the dominance of the internet coming in the 1980s.
He helped frame the idea of the “attention economy,” which has expanded, writes the Times Opinion columnist Charlie Warzel, to the point that “any discussion of power is now, ultimately, a conversation about attention and how we extract it, wield it, waste it, abuse it, sell it, lose it and profit from it.”
Now 78, Mr. Goldhaber sees examples ranging from the Trump presidency to the welter of influencers and news outlets that, surrounding Jan. 6, amplified increasingly dangerous conspiracy theories on platforms designed to encourage outrage: “It felt like an expression of a world in which everyone is desperately seeking their own audience and fracturing reality in the process.”
It’s only going to accelerate, he said, so why not practice a little more intent in allocating our attention?

PHOTOS OF THE DAY
Gardeners clear a path through the first snowdrops of the season at English Heritage’s Audley End House and Gardens in Saffron Waldon, Essex
CREDIT: JOE GIDDENS/PA
Russell and Michelle Hoyer try to find their driveway under the snow in Mt. Arlington, New jersey, USA.
CREDIT: SETH WINIG/AP
Conservator Keith Barley MBE works on large stained glass windows from All Saints North Street Church at Barley Studio in York. The windows of All Saints North Street Church, York, date to the 14th and 15th centuries, and comprise some of the finest medieval glass in the country
CREDIT: DANNY LAWSON/PA

Market Closes for February 4^th, 2021 

Market Index	Close	Change
Dow Jones	31055.86	+332.26
		+1.08%
S&P 500	3871.74	+41.57
		+1.09%
NASDAQ	13777.743	+167.200 +1.23%
TSX	18041.97	+126.06
		+0.70%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28341.95	-304.55
		-1.06%
HANG SENG	28341.95	-304.55
		-1.06%
SENSEX	50614.29	+358.54
		+0.71%
FTSE 100*	6503.72	-4.10 -0.06%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.963	.949
CND. 30 Year Bond	1.544	1.520
U.S.    10 Year Bond	1.1392	1.1374
U.S. 30 Year Bond	1.9383	1.9252

Currencies

BOC Close	Today	Previous
Canadian $	.77973	.78237
US $	1.28249	1.27817
Euro Rate 1 Euro=		Inverse
Canadian $	1.53459	.65164
US $	1.19657	.83572

Commodities

Gold	Close	Previous
London Gold Fix	1835.45	1833.10
Oil
WTI Crude Future	56.23	55.69

Market Commentary:
     On this day in 1863, the Stockholm Stock Exchange opened for trading. The first day’s volume: 22 trades for a total of 14,105 Swedish dalers (the currency of the time).
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equities rose for a fourth day, closing within a whisker of the Jan. 8 record high, as technology and consumer stocks soared. The S&P/TSX Composite index rose 0.7% to 18,041.97, just shy of all-time high of 18,042.07. The move was led by Canada Goose, which was the best-performing stock on the index. The parka maker rose 22% on Thursday after revenue and earnings for its key quarter came in well above analysts’ estimates. Meanwhile, job losses in Canada probably slowed last month in another sign the nation’s economy is handling the current wave of lockdowns better than it did last year.
Commodities
* Western Canadian Select crude oil traded at an $11.60 discount to West Texas Intermediate
* Spot gold fell 2.2% to $1,793.57 an ounce
FX/Bonds
* The Canadian dollar fell 0.3% to C$1.2824 per U.S. dollar
* The 10-year Canada government bond yield rose to 0.966%
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the fourth day, climbing 0.7 percent, or 126.06 to 18,041.97 in Toronto. The index advanced to the highest closing level since Jan. 8. Shopify Inc. contributed the most to the index gain, increasing 3.4 percent. Canada Goose Holdings Inc. had the largest increase, rising 22.4 percent. Today, 129 of 220 shares rose, while 85 fell; 9 of 11 sectors were higher, led by financials stocks.
Insights
* So far this week, the index rose 4.1 percent, heading for the biggest advance since the week ended Nov. 6
* The index advanced 3 percent in the past 52 weeks. The MSCI AC
Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0.2 percent below its 52-week high on
Feb. 4, 2021 and 61.5 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 2.2 percent in the past 5 days and rose 2.9 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.5 on a trailing basis and 17.2 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.9 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.77t
* 30-day price volatility rose to 13.68 percent compared with
13.56 percent in the previous session and the average of 9.62 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 44.9581| 0.8| 21/5
Information Technology | 39.1733| 2.0| 6/4
Energy | 19.1198| 0.9| 18/4
Consumer Staples | 8.5728| 1.3| 8/3
Communication Services | 7.5409| 0.9| 3/3
Industrials | 7.0249| 0.3| 20/9
Consumer Discretionary | 6.7525| 1.0| 9/4
Utilities | 4.3358| 0.5| 7/8
Real Estate | 3.8637| 0.7| 20/5
Health Care | -2.3118| -0.8| 3/6
Materials | -12.9621| -0.6| 14/34
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks extended their rally into a fourth day as traders parsed through a flurry of corporate results amid signs the U.S. labor market may be gradually improving. The dollar rose. The S&P 500 climbed to a record, led by banks and tech shares, as the Russell 2000 Index jumped 2%. EBay Inc. and PayPal Holdings Inc. surged on upbeat forecasts, while Netflix Inc. gained after raising the price of its service in Japan. Meanwhile, GameStop Corp. plunged as day traders flocked to other stocks like drug developers, and Nordstrom Inc. slid after announcing plans to win back customers — a sign that Wall Street may have expected a more comprehensive overhaul. A widely watched segment of the Treasury yield curve steepened to levels last seen in 2015. The bull market in U.S. stocks remains on “solid footing” as the rebound in activity and corporate profits alongside an accommodative Federal Reserve create a supportive environment for equities, according to UBS Group AG.
A report Thursday showed jobless claims fell to the lowest since November, and the next major update on the economy comes on Friday – with analysts forecasting the labor market added about 100,000 jobs in January after a 140,000 drop in December. Selected high-frequency data, such as weekly consumer-confidence readings, also point to some strengthening. “We certainly seem to have shifted our focus back to fundamentals,” said Arthur Hogan, chief market strategist at National Securities Corp. “The virus news is getting incrementally better at the very same time that the earnings season and economic data seem to be showing some improvement. Markets are actually focusing on what we’re supposed to be focused on and less concerned about the machinations of getting fiscal policy out and what’s going on in Reddit-land. ”The Reddit fueled rumble in the U.S. stock market may have heightened fears of another burst of volatility, according to options data tracked by Bloomberg. Over the last two weeks, the Cboe Volatility Index’s futures curve has shifted markedly higher, showing a pronounced peak in April before a gradual decline. The move suggests investors expect more volatility in the short-term amid concerns about extended valuations, the pace of the vaccine rollout and the impact of retail-trading activity.

These are some of the main moves in markets:
Stocks
* The S&P 500 increased 1.1% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index rose 0.6%.
* The MSCI Asia Pacific Index decreased 0.7%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.4%.
* The euro dipped 0.6% to $1.1965.
* The Japanese yen depreciated 0.5% to 105.55 per dollar.
Bonds
* The yield on 10-year Treasuries fell less than one basis point to 1.14%.
* Germany’s 10-year yield climbed one basis point to -0.45%.
* Britain’s 10-year yield jumped seven basis points to 0.44%.
Commodities
* West Texas Intermediate crude rose 1% to $56.26 a barrel.
* Gold lost 2.1% to $1,794.80 an ounce.
* Silver fell 2% to $26.35 per ounce.
–With assistance from Vivien Lou Chen, Adam Haigh, Cecile Gutscher, Yakob Peterseil, Cormac Mullen and Claire Ballentine.

Have a great night.

Be magnificent!
As ever,

Carolann

You wouldn’t worry so much about what others think of you
if you realized how seldom they do. -Eleanor Roosevelt, 1884-1962

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