Category: Newsletters

Dear Friends,

Tangents:  1971 –  Apollo 14 astronauts Alan B. Shepard Jr. and Edgar D. Mitchell landed on the lunar surface during the third successful manned mission to the moon. Go to article »

1947 – Coldest North American temperature recorded -81℉, Yukon Territories, Canada.
Gertrude Stein, writer, b. 1874.  “A rose is a rose is a rose.”
Simone Weil, mystic, b. 1909. “To be rooted is perhaps the most important and least recognized need of the human soul.”

On the  Impeachment, the Late Night Hosts:
“After that, Trump’s legal team filed a brief that claims that he isn’t responsible. It wasn’t that hard to write. His lawyers just copied and pasted his defense from the last impeachment: Control-F ‘Ukraine,’ replace with ‘riot.’” — JIMMY FALLON

“On the very first page of their first legal filing, they wrote, ‘to the honorable members of the Unites States Senate.’ They misspelled ‘United States.’ And we’re off!” — JIMMY KIMMEL

“There was actually a typo on the first page of the Trump brief, but I’m sure it was a long, complicated legal term. Nope, it’s just — just the name of our country, that’s it.” — JIMMY FALLON

“Yes, the ‘Unites States Senate,’ both Republicarnts and Democrabs.” — STEPHEN COLBERT

PHOTOS OF THE DAY

The SpaceX Starship SN9 explodes into a fireball after its high altitude test flight from test facilities in Boca Chica, Texas, U.S
CREDIT: GENE BLEVINS/REUTERS
A woman takes a selfie under festive decorations for the upcoming Lunar New Year outside a shopping mall in Bangkok, Thailand
CREDIT: MLADEN ANTONOV/AFP VIA GETTY IMAGES
Well-known ice-cream seller Pasquale Marucci has a funeral with a convoy of ten ice-cream vans in  Eastleigh, Hampshire
CREDIT: PAUL JACOBS
Cawdor Estate near Nairn in Scotland posted this photo of snow drifts higher than their Toyota Hilux
CREDIT: MIKE MERRITT

Market Closes for February 3^rd, 2021 

Market Index	Close	Change
Dow Jones	30723.60	+36.12
		+0.12%
S&P 500	3830.17	+3.86
		+0.10%
NASDAQ	13610.543	-2.234 -0.02%
TSX	17915.91	+41.42
		+0.23%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28646.50	+284.33
		+1.00%
HANG SENG	29307.46	+58.76
		+0.20%
SENSEX	50255.75	+458.03
		+0.92%
FTSE 100*	6507.82	-8.83 -0.14%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.949	.905
CND. 30 Year Bond	1.520	1.482
U.S.    10 Year Bond	1.1374	1.0963
U.S. 30 Year Bond	1.9252	1.8694

Currencies

BOC Close	Today	Previous
Canadian $	.78237	.78210
US $	1.27817	1.27861
Euro Rate 1 Euro=		Inverse
Canadian $	1.53893	.64980
US $	1.20401	.83055

Commodities

Gold	Close	Previous
London Gold Fix	1833.10	1862.95
Oil
WTI Crude Future	55.69	54.76

Market Commentary:
     On this day in 1964, a direct feed to the stock ticker at the New York Stock Exchange was extended overseas for the first time, as Switzerland got a real-time link to follow share prices in New York.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian equity markets extended their gains into third day, helped by outperformance in pot stocks. The S&P/TSX Composite index rose 0.2% in Toronto, bringing its climb in the last three days to 3.3%. Marijuana stocks in the health care sector led the gains after GW Pharmaceuticals agreed to be acquired by Jazz Pharmaceuticals for $7.2 billion in cash and stock. Aphria, Canopy Growth and Cronos were among the best performers on the TSX. Meanwhile, Bank of Canada Deputy Governor Lawrence Schembri said the central bank’s research suggests any adjustments to the inflation targeting mandate should be incremental. “Maybe
there’s an opportunity to overshoot the target a little bit or tolerate an overshoot if we want to be aggressive in reducing the risk of being at the effective lower bound,” Schembri said. “We might be willing to tolerate a small overshoot or, like the Fed has done, actually aim for an overshoot. And that’s a question we are pondering right now.”
Commodities
* Western Canadian Select crude oil traded at a $11.50 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,833.83 an ounce
FX/Bonds
* The Canadian dollar was flat at C$1.2782 per U.S. dollar
* The 10-year Canada government bond yield rose 4 basis points to 0.948%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose for the third day, climbing 0.2 percent, or 41.42 to 17,915.91 in Toronto. The index advanced to the highest closing level since Jan. 21. Today, energy stocks led the market higher, as 6 of 11 sectors gained; 118 of 220 shares rose, while 100 fell. Canadian Natural Resources Ltd. contributed the most to the index gain, increasing 3.6 percent. ATS Automation Tooling Systems Inc. had the largest increase, rising 14.1 percent.
Insights
* The index advanced 3.1 percent in the past 52 weeks. The MSCI
AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0.8 percent below its 52-week high on
Jan. 8, 2021 and 60.4 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 2.8 percent in the past 5 days and rose 2.8 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.4 on a trailing basis and 17.1 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 fell to 13.56 percent compared with
13.58 percent in the previous session and the average of 9.44 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 35.6595| 1.7| 20/1
Health Care | 15.6183| 5.4| 6/3
Materials | 13.4173| 0.6| 33/18
Financials | 13.3824| 0.3| 18/7
Consumer Discretionary | 5.6925| 0.8| 9/4
Consumer Staples | 1.1298| 0.2| 3/8
Communication Services | -0.4708| -0.1| 4/3
Utilities | -2.4540| -0.3| 8/8
Real Estate | -5.1252| -0.9| 3/23
Industrials | -15.3756| -0.7| 10/19
Information Technology | -20.0477| -1.0| 4/6
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks almost wiped out their advance as a drop in technology and retail shares dragged down the Nasdaq 100. Treasuries retreated. Oil climbed. The S&P 500 closed with a small gain following its biggest two-day rally in almost three months. Energy and financial shares outpaced tech even after Google’s parent Alphabet Inc. hit a record on stellar results, while Amazon.com Inc. slumped. Banks climbed as JPMorgan Chase & Co. and Morgan Stanley issued bullish calls on the industry. GameStop Corp., the poster child for Redditors looking to squeeze short sellers, and movie- theater chain AMC Entertainment Holdings Inc. rebounded following Tuesday’s plunge.
After the close of regular trading, Qualcomm Inc. slumped as the biggest maker of chips that connect smartphones to wireless networks reported disappointing revenue. EBay Inc. climbed as profit topped Wall Street estimates. A widely watched segment of the Treasury yield curve reached its steepest level in almost five years even as the U.S. decided not to increase auction sizes for long-maturity notes and bonds at next week’s quarterly refunding sales. Data showed companies added more jobs than forecast in January, while growth at service providers accelerated. The scattered signs of a pickup in activity come as President Joe Biden tries to win congressional passage of a $1.9 trillion stimulus proposal. Federal Reserve Bank of St. Louis President James Bullard said stock prices reflect optimism about the economic recovery. “There has been a ton of noise in the stock market these past few weeks, so it’s encouraging to see solid economic reads,” said Mike Loewengart, managing director of investment strategy at E*Trade Financial Corp. “There may be signs of overextension when it comes to single stocks, but under the surface there is an economy regaining serious momentum.” Normalcy has yet to return to the Cboe Volatility Index even after its biggest two-day decline in about three years.
Tuesday’s close was 31% higher than the average since VIX calculations began in 1990, according to data compiled by Bloomberg. There hasn’t been a below-average close in about a year. VIX futures are indicating that “volatility will remain elevated for many months,” Nicholas Colas, co-founder of DataTrek Research LLC, wrote Tuesday in a report. Elsewhere, crude climbed as OPEC+ said it will keep pushing to quickly clear the oil surplus left behind by the pandemic — a bullish signal for prices that have already surged to a one-year high.
These are some key events coming up:
* The Bank of England sets rates on Thursday and an Indian central bank policy decision is due Friday.
* The U.S. January payrolls report is due Friday, providing a first look at hiring in 2021.

These are some of the main moves in markets:
Stocks
* The S&P 500 advanced 0.1% at 4 p.m. New York time.
* The Stoxx Europe 600 Index climbed 0.3%.
* The MSCI Asia Pacific Index increased 1.1%.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro dipped 0.1% to $1.2035.
* The Japanese yen was little changed at 105.02 per dollar.
Bonds
* The yield on 10-year Treasuries rose three basis points to 1.13%.
* Germany’s 10-year yield climbed three basis points to -0.46%.
* Britain’s 10-year yield jumped two basis points to 0.371%.
Commodities
* West Texas Intermediate crude increased 2% to $55.85 a barrel.
* Gold lost 0.2% to $1,833.85 an ounce.
* Silver rose 0.6% to $26.83 per ounce.
–With assistance from Andres Guerra Luz, Adam Haigh, Yakob Peterseil, David Wilson, Claire Ballentine and Kamaron Leach.
Have a great night.

Be magnificent!
As ever,

Carolann

To acquire knowledge, one must study; but to acquire wisdom,
one must observe. -Marilyn Vos Savant, b. 1946.

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

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

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

Dear Friends,

Tangents: Ground Hog Day.
Happy Groundhog Day! Will we get more winter? Will we get an early spring? Will we ever spell “Punxsutawney Phil” correctly on the first try? –CNN.
Imbolc: Wiccan Feast of Torches.
Candlemas

James Joyce, author, b. 1882:  Mistakes are the portals of discovery. -James Joyce.
Ayn Rand, author, b. 1905: The question isn’t who is going to let me; it’s who is going to stop me.
                                       When I die, I hope to go to Heaven, whatever the Hell that is.― Ayn Rand.
W.H. Auden, poet, b. 1907. How should we like it were stars to burn
                                        With a passion for us we could not return?
                                        If equal affection cannot be,
                                        Let the more loving one be me.

On Feb. 2, 1943, the remainder of Nazi forces from the Battle of Stalingrad surrendered in a major victory for the Soviets in World War II.  Go to article »

Welcoming the year of the Ox:  If there’s one occasion to prepare dumplings from scratch, wrappers and all, it’s the Lunar New Year, which starts Feb. 12. Everyday dumplings take on special significance for the holiday, symbolizing good fortune for the year ahead and assuring family unity.  The more immediate reward comes from the process of making them, writes our Food editor Genevieve Ko, who describes a therapeutic project “that lulls like rowing on a still lake.” Try her crisp dumplings, or tang yuan — chewy balls with black sesame filling that simmer in sweet ginger soup. –The NY Times.

The Late Night Hosts Weigh In on Trump’s Legal defense teams:
“Trump suddenly found himself without any legal representation, which is still a huge improvement over being represented by Rudy Giuliani.” — JAMES CORDEN

“Trump was furious — not that they quit, that he couldn’t fire them on Twitter.” — JIMMY FALLON

“A source close to the ex-president described it as a ‘mutual decision.’ Oh, totally mutual! ‘No, Carol did not divorce me — we divorced me. We also agreed that the lawn
was the perfect place for all my shirts.’” — STEPHEN COLBERT

Colbert said, “the former president cruised some dark alleys of the legal world and scooped up two new lawyers,” Bruce Castor and David Schoen.
“Now these guys have a lot in common. When he was a Pennsylvania D.A. in 2005, Castor declined to prosecute Bill Cosby as part of a ‘secret agreement,’ although it is possible Castor did not know, and Cosby just dropped the secret agreement into his drink.” — STEPHEN COLBERT

PHOTOS OF THE DAY
Groundhog Club handler A.J. Dereume holds Punxsutawney Phil, the weather prognosticating groundhog, during the 135th celebration of Groundhog Day on Gobbler’s Knob in Punxsutawney, Pa
CREDIT: BARRY REEGER/AP
A train crosses Knaresborough Viaduct in North Yorkshire after snow fell overnight
CREDIT:DANNY LAWSON/PA
A couple walks over the Williamsburg Bridge into Manhattan
CREDIT: ANDREW KELLY/REUTERS
A surfer rides a wave off Ondarreta Beach at dawn in San Sebastian, Basque Country, northern Spain
CREDIT:JAVIER ETXEZARRETA/EPA-EFE/SHUTTERSTOCK
Market Closes for February 2^nd, 2021 

Market Index	Close	Change
Dow Jones	30687.48	+475.57
		+1.57%
S&P 500	3826.31	+52.45
		+1.39%
NASDAQ	13612.777	+209.382 +1.56%
TSX	17874.49	+182.04
		+1.03%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28362.17	+271.12
		+0.97%
HANG SENG	29248.70	+355.84
		+1.23%
SENSEX	49797.72	+1197.11
		+2.46%
FTSE 100*	6516.65	+50.23 +0.78%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.905	.884
CND. 30 Year Bond	1.482	1.468
U.S.    10 Year Bond	1.0963	1.0792
U.S. 30 Year Bond	1.8694	1.8518

Currencies

BOC Close	Today	Previous
Canadian $	.78210	.77787
US $	1.27861	1.28556
Euro Rate 1 Euro=		Inverse
Canadian $	1.53931	.64964
US $	1.20389	.83064

Commodities

Gold	Close	Previous
London Gold Fix	1862.95	1863.80
Oil
WTI Crude Future	54.76	53.55

Market Commentary:
     On this day in 1869, in the first warning sign of the coming Panic of 1869, a New York newspaper reported that an IRS auditor has discovered that trustees of several city churches had taken $2 million in ecclesiastical trust funds and used them to speculate in stocks, and several parishes had taken out mortgages on their church buildings to answer margin calls.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian shares climbed for the second day as pot stocks continued to outperformed after U.S. Democratic senators said they would pursue “comprehensive cannabis reform” in early 2021. The S&P/TSX Composite index rose 1% in Toronto, led by cannabis health care stocks. Materials were the worst performers, as the buying frenzy that sent silver to an eight-year high stalled out. Meanwhile, Prime Minister Justin Trudeau announced plans to manufacture Novavax Inc.’s Covid-19 vaccine in Canada, making it the first coronavirus shot that will be produced in the country.
Commodities
* Western Canadian Select crude oil traded at a $11.25 discount to West Texas Intermediate
* Spot gold fell 1.3% to $1,835.85 an ounce
FX/Bonds
* The Canadian dollar rose 0.4% to C$1.2796 per U.S. dollar
* The 10-year Canada government bond yield rose to 0.908%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite is rising for the second day, climbing 1.1 percent, or 199.2 to 17,891.65 in Toronto. In midday trading, information technology stocks led the market higher, as 10 of 11 sectors gained; 144 of 221 shares rose, while 73 fell. Shopify Inc. contributed the most to the index gain, increasing 6.6 percent. Cronos Group Inc. had the largest increase, rising 11.9 percent.
Insights
* The index advanced 3.3 percent in the past 52 weeks. The MSCI AC Americas Index gained 20 percent in the same period
* The S&P/TSX Composite is 0.9 percent below its 52-week high on Jan. 8, 2021 and 60.1 percent above its low on March 23, 2020
* The S&P/TSX Composite is up 0.6 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
26.3 on a trailing basis and 17.1 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$2.74t
* 30-day price volatility rose to 13.65 percent compared with
13.42 percent in the previous session and the average of 9.26 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 74.9508| 4.0| 9/1
Financials | 71.9059| 1.4| 23/3
Industrials | 49.9108| 2.3| 27/2
Energy | 17.3113| 0.8| 15/5
Health Care | 14.5522| 5.3| 6/2
Utilities | 12.8803| 1.4| 14/2
Consumer Discretionary | 10.0730| 1.5| 11/2
Communication Services | 8.9926| 1.0| 7/0
Real Estate | 3.8777| 0.7| 22/3
Consumer Staples | 0.2549| 0.0| 3/8
Materials | -64.6626| -2.7| 7/45
US
By Rita Nazareth and Claire Ballentine
(Bloomberg) — Stocks extended their rally into a second day as the trading frenzy that fueled a surge in heavily shorted shares crumbled. Investors also sifted through a batch of corporate earnings. All major groups in the S&P 500 rose, with financial, industrial and retail companies leading the charge. Twenty-five out of the 30blue chips in the Dow Jones Industrial Average advanced. United Parcel Service Inc. climbed as the courier reported a surge in profit, while Exxon Mobil Corp. was up on a pledge to safeguard dividends following its first annual loss in at least 40 years. Meanwhile, the speculative trades popular with Reddit crowds crumbled, with GameStop Corp. and AMC Entertainment Holdings Inc. tumbling at least 41% as silver sank from an eight-year high.
The collapse of those trades that roiled the stock market last month has coincided with a sharp reduction in short interest after bearish investors appeared to cover their positions. While some indicators show the battle between Redditors and hedge funds may not be over, analysts cited a sense of more stability and diminished concern over contagion from any retail bubble as reasons for the equity rebound. “There’s optimism brewing underneath,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “The fact that markets have cooled down a bit with the retail- trading frenzy, that’s giving a little bit of optimism.
Anytime there’s more stability to markets, there’s a breath of relief of all investors.” She also cited prospects for more fiscal stimulus as another reason for the positive mood. The Senate on Tuesday will begin a process that would let Democrats pass President Joe Biden’s $1.9 trillion proposal without Republican votes, Majority Leader Chuck Schumer said. As stocks continued to push higher, Bank of America Corp. strategists came out with a warning about rising bullishness, saying that a sentiment indicator is close to hitting a “sell” signal — a mark last reached shortly before the financial crisis. Meanwhile, Citigroup Inc. is growing concerned with elevated earnings expectations, noting that share prices may be ahead of themselves by about 10%.
These are some key events coming up:
* The EIA crude oil inventory report is due Wednesday.
* The Bank of England sets rates on Thursday, and an Indian central bank policy decision comes then too.
* The U.S. January payrolls report is due Friday, providing a first look at hiring in 2021.

These are the main moves in markets:
Stocks
* The S&P 500 increased 1.4% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index climbed 1.3%.
* The MSCI Asia Pacific Index rose 1.2%.
Currencies
* The Bloomberg Dollar Spot Index decreased 0.1%.
* The euro dipped 0.2% to $1.2036.
* The Japanese yen depreciated 0.1% to 105.04 per dollar.
Bonds
* The yield on 10-year Treasuries rose two basis points to 1.10%.
* Germany’s 10-year yield rose three basis points to -0.49%.
* Britain’s 10-year yield increased three basis points to 0.349%.
Commodities
* West Texas Intermediate crude climbed 2.3% to $54.77 a barrel.
* Gold lost 1.3% to $1,835.66 an ounce.
* Silver slid 8.9% to $26.47 per ounce.
–With assistance from Andreea Papuc, Anchalee Worrachate, Cormac Mullen, Yakob Peterseil, Elena Popina and Vildana Hajric.
Have a great night.

Be magnificent!
As ever,

Carolann

Humility makes great men twice honorable. –Benjamin Franklin, 1706-1790

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

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

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

Dear Friends,

Tangents:
On Feb. 1, 1960, four black college students began a sit-in protest at a lunch counter in Greensboro, N.C., where they’d been refused service. Go to article »
Check out what Melinda Gates is reading. She’s offering a glimpse at her bookshelf and talking about her new favorite.

Pandas enjoy snow. A lot.

A four-year-old girl found a dinosaur footprint on a Welsh beach, and it is being described as the “finest found in a decade” by experts.
Lily Wilder and her family were walking their dog in Barry when she spotted the fossilised footprint in the rocks. It’s believed to be around 220 million years old, and you can see it here.

It’s truly amazing to think that this Anglo-Saxon treasure trove, found in the outline of a huge 89ft-long ship, had been there for well over 1,000 years. Now the ship is set to sail again after restorers began rebuilding it from scratch.
Isn’t it remarkable to think of what is out there, connecting past to present and waiting to be rediscovered. Last year alone saw some major archaeological discoveries and I’m absolutely sure there will be more to come.

Organizers of the Nordic countries’ most important festival, the Goteborg Film Festival, decided to accentuate the pandemic’s sense of solitude as well as film’s ability to bring comfort by offering a chance for one person to screen the films on an isolated island off the west coast of Sweden. 

“We wanted to experiment with that, to isolate that feeling, and take it to the extreme,” said the festival’s artistic director.  Lisa Enroth, a 41-year-old nurse from southern Sweden, was chosen out of 12,000 applicants. On Saturday, she arrived on a rocky outcrop called Pater Noster to watch the 70 films.

PHOTOS OF THE DAY

A man visits the Sistine Chapel on Monday,  the reopening day of the Vatican museum
CREDIT: ANDEAS SOLARO/AFP VIA GETTY IMAGES

A man uses a snow plow to clear off a sidewalk in the Flatbush neighborhood of Brooklyn in New York City, USA
CREDIT: MICHEAL M. SANTIAGO/GETTY IMAGES

Winter swimmers in fancy costumes dive into a partly frozen lake in Shenyang, China, with air temperatures of minus 23 degrees Celsius

CREDIT: STR/AFP VIA GETTy IMAGES

Ski resort workers block the road to the Frejus tunnel crossing the border with Italyto protest against the French government’s decision to close the resorts for the 2020/2021 winter
CREDIT: PHILIPPE DESMAZES/AFP VIA GETTY IMAGES
Market Closes for February 1^st, 2021 

Market Index	Close	Change
Dow Jones	30211.91	+229.29
		+.76%
S&P 500	3773.86	+59.62
		+1.61%
NASDAQ	13403.395	+332.701 +2.55%
TSX	17692.45	+355.42
		+2.05%

 

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28091.05	+427.66
		+1.55%
HANG SENG	28892.76	+609.15
		+2.15%
SENSEX	48600.61	+2316.84
		+5.00%
FTSE 100*	6466.42	+58.96 +0.92%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.884	.889
CND. 30 Year Bond	1.468	1.474
U.S.    10 Year Bond	1.0792	1.0655
U.S. 30 Year Bond	1.8518	1.8291

Currencies

BOC Close	Today	Previous
Canadian $	.77787	.78281
US $	1.28556	1.27746
Euro Rate 1 Euro=		Inverse
Canadian $	1.55100	.64475
US $	1.20648	.82886

Commodities

Gold	Close	Previous
London Gold Fix	1863.80	1853.70
Oil
WTI Crude Future	53.55	52.20

Market Commentary:
     On this day in 1869, the New York Stock Exchange required listed companies to register their securities to prevent “watered stock,” or the manipulated over-issuance of shares by insiders.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks rose on Monday with the broader market, led by mining companies and tech firms. The S&P/TSX Composite index rose 2.1% in Toronto, the most since June as the Reddit-fueled surge in silver prices pushed mining stocks higher. Silver miners were among the top stocks Monday after price of the precious metal jumped to an almost eight-year high. All eleven sectors closed in the green. Meanwhile, Canadian pension plans returned 10% last year, thanks to a strong recovery in equity markets around the world, according to data from Bank of New York Mellon Corp.
Commodities
* Western Canadian Select crude oil traded at a $12.65 discount to West Texas Intermediate
* Spot gold rose 0.6% to $1,859.55 an ounce
FX/Bonds
* The Canadian dollar fell 0.7% to C$1.2860 per U.S. dollar
* The 10-year Canada government bond yield fell slightly to 0.880%
By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite rose 2.1 percent at 17,692.45 in Toronto. The move was the biggest gain since June 5 and follows the previous session’s decrease of 1.8 percent. Today, materials stocks led the market higher, as all sectors gained; 211 of 221 shares rose, while 10 fell. Shopify Inc. contributed the most to the index gain, increasing 5.6 percent. Silvercorp Metals Inc. had the largest increase, rising 25.7 percent.
Insights
* In the past year, the index had a similar or greater gain 15
times. The next day, it declined eight times for an average 4.1
percent and advanced seven times for an average 1.7 percent
* The index advanced 2.2 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 2 percent below its 52-week high on
Jan. 8, 2021 and 58.4 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1.2 percent in the past 5 days and rose 1.5 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26 on a trailing basis and 16.9 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$2.68t
* 30-day price volatility rose to 13.42 percent compared with
11.98 percent in the previous session and the average of 9.05 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 88.8502| 3.8| 52/0
Information Technology | 85.6412| 4.8| 10/0
Financials | 45.4314| 0.9| 24/2
Energy | 44.9153| 2.2| 21/1
Industrials | 40.2718| 1.9| 28/1
Consumer Discretionary | 17.0571| 2.6| 12/1
Consumer Staples | 10.5417| 1.7| 11/0
Real Estate | 8.7241| 1.6| 25/1
Utilities | 5.4764| 0.6| 14/2
Communication Services | 5.2993| 0.6| 7/0
Health Care | 3.2075| 1.2| 7/2
US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks had their biggest rally in about 10 weeks as several strategists said the recent explosion of speculative buying won’t derail the bull market in equities. In a broad-based advance led by technology and retail companies, the S&P 500 rebounded from last week’s selloff as the Nasdaq 100 jumped 2.5%. Heavyweights Amazon.com Inc. and Google’s parent Alphabet Inc., which are set to report earnings Tuesday, climbed at least 3.6%. AMC Entertainment Holdings Inc. and some other day-trader favorites led the Reddit-fueled rally top Monday, while GameStop Corp. tumbled. Tesla Inc. soared after an analyst more than doubled his price target on the electric-car maker, saying “fireworks aren’t over.” Silver rose to an almost eight-year high, extending a surge that started with the retail investor frenzy sweeping through markets.
The battle between retail traders and hedge funds is unlikely to cause a significant setback for markets, according to JPMorgan Chase & Co. Major drawdowns have usually occurred when there’s a worse outlook for growth, as well as signs of overvaluation beyond price-earnings ratios and credit spreads, strategists led by John Normand wrote. Few markets show signs of extraordinary price momentum or excessive leverage, according to them. “The retail versus hedge fund conflict unfolding currently should be much less severe than the roughly 10% drops that have been occurring almost annually for the past two decades,” JPMorgan strategists noted. “Our bubble tracker based on extreme price momentum, valuations and investor leverage isn’t flashing red at the asset class level, even if it might at the security level.” While stretched valuations make markets vulnerable to a correction, investors should consider using “volatility opportunistically to select stocks in quality franchises with strong valuation support and cyclical leverage,” according to Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management. “Patience, more than greed, is likely to be rewarded,” she wrote in a note to clients. “Our view remains constructive.”

These are some key events coming up:
* Earnings season is full steam ahead as companies report
results, including Alibaba, GlaxoSmithKline, Ferrari, Exxon
Mobil, BNP Paribas and Yum! Brands.
* The Reserve Bank of Australia’s policy decision comes Tuesday.
* Wednesday sees the EIA crude oil inventory report.
* The Bank of England sets rates on Thursday and an Indian
central bank policy decision comes then too.
* The U.S. January payrolls report is due Friday, providing a first look at hiring in 2021.

These are some of the main moves in markets:
Stocks
* The S&P 500 surged 1.6% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index climbed 1.2%.
* The MSCI Asia Pacific Index increased 1.9%.
Currencies
* The Bloomberg Dollar Spot Index climbed 0.3%.
* The euro sank 0.6% to $1.2058.
* The Japanese yen depreciated 0.3% to 104.96 per dollar.
Bonds
* The yield on 10-year Treasuries fell less than one basis point to 1.07%.
* Germany’s 10-year yield climbed less than one basis point to -0.52%.
* Britain’s 10-year yield dipped one basis point to 0.321%.
Commodities
* West Texas Intermediate crude jumped 2.8% to $53.67 a barrel.
* Gold strengthened 0.6% to $1,859.19 an ounce.
* Silver strengthened 7.1% to $28.91 per ounce.
–With assistance from Joanna Ossinger, Andreea Papuc, Adam Haigh, Anchalee Worrachate, Claire Ballentine and Kamaron Leach.
Have a great night.

Be magnificent!
As ever,

Carolann

When you appeared in this world, you cried, and all the people around you rejoiced. 
You have to live your life in such a way that when you leave this world,
you will rejoice, and all the people around you will cry. –Indian Wisdom.

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.

Full moon should be visible again tonight.  The first full moon in January is called the wolf moon and it rose last night.
There’s nothing canine about it—the wolf moon just is the name for January’s full moon. According to The Old Farmer’s Almanac, it most likely has early Native American origins, since wolves were more often heard howling in the dead of winter. But it’s also sometimes referred to as the “Cold Moon” or “Frost Exploding Moon” by the Cree, the “Spirit Moon” by the Ojibwe and the “Center Moon” by the Assiniboine people (with the idea that it roughly marks the middle of winter), per Space.com. And NASA has a lengthy list of even more names for this moon.
Other than being the first full moon of the calendar year, January’s wolf moon will also be at its highest point in the sky for northern hemisphere viewers. That’s because the sun and full moon are opposite each other, and when the sun is low (i.e., in winter), the moon is high. That means anyone in North America will get a front-row seat to see the wolf moon.

An afternoon nap could improve your cognitive abilities, study says.  Say no more. 

Mysterious kick just after Big Bang may have created dark matter. 

After 130 years, a snowy owl has made an appearance in Central Park. Stream these 10 classical concerts in February. We’re all stuck at home at the moment, so here are the 50 best movies on Netflix right now. The Late Night Hosts weigh in: “She is the lady who, among other things, she called for Nancy Pelosi’s execution, she called for Joe Biden’s impeachment on his first day in office, and she believes our former governor here in California, Jerry Brown, used space lasers to set the wildfires here. She saw the ‘Austin Powers’ movie and thought it was a documentary, I guess.” — JIMMY KIMMEL “But claims like these require proof, right? Well, here’s Margie’s evidence: ‘Oddly, there are all these people who have said they saw what looked like lasers or blue beams of light causing the fires.’ That’s an embarrassing way to admit you’ve never heard of lightning.” — STEPHEN COLBERT “So where do these fictional space lasers come from? Well, according to Congresswoman Marjorie Taylor Greene, it could have been a beam from ‘space solar generators.’ A ‘space solar generator.’ So, the sun?” — STEPHEN COLBERT

’And then the socialist lizard men shot jagged laser things out of the cloud. And that angered the sky so much it went ‘Roar!’ and the sky wept, and then, thanks to QAnon, the sky stopped crying and a rainbow appeared. And we shot it with our guns because rainbows are gay. The defense rests.’” — STEPHEN COLBERT

PHOTOS OF THE DAY
The full moon rises above the horizon in Tirana, Albania
CREDIT: FLORION GOGA/REUTERS
An Arctic fox in Svalbard
CREDIT: VLADIMIR ALEKSEEV.WWW.TPOTY.COM
A plane flies towards cumulonimbus clouds above Lyon, central France
CREDIT: LAURENT CIPRIANI/AP

Market Closes for January 29^th, 2021 

Market Index	Close	Change
Dow Jones	29982.62	-620.74
		-2.03%
S&P 500	3714.24	-73.14
		-1.93%
NASDAQ	13070.694	-266.464 -2.00%
TSX	17337.03	-320.17
		-1.81%

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	27663.39	-534.03
		-1.89%
HANG SENG	28283.71	-267.06
		-0.94 %
SENSEX	46285.77	-588.59
		-1.26%
FTSE 100*	6407.46	-118.69 -1.82%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.889	.815
CND. 30 Year Bond	1.474	1.476
U.S.    10 Year Bond	1.0655	1.0449
U.S. 30 Year Bond	1.8291	1.8046

Currencies

BOC Close	Today	Previous
Canadian $	.78281	.77997
US $	1.27746	1.28210
Euro Rate 1 Euro=		Inverse
Canadian $	.64515	1.55002
US $	.82415	1.21337

Commodities

Gold	Close	Previous
London Gold Fix	1853.70	1846
Oil
WTI Crude Future	52.20	52.34

Market Commentary:
     On this day in 1997, the U.S. Treasury auctioned off its first issue of inflation-indexed securities.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell for a third week, and fourth in five, as traders studied the latest corporate earnings and the implications of day traders pouring into stocks. The S&P/TSX Composite Index dropped 1.8% Friday, with all eleven sectors lower. Information technology was the weakest group, falling 2.8%. Wealthsimple Inc., a commission-free Canadian online brokerage with more than 350,000 clients, is warning traders about the risks of investing in some highly speculative stocks, but isn’t planning to halt trading in those shares.
Canadian Prime Minister Justin Trudeau introduced sweeping new restrictions on international travel in a bid to stem the spread of new variants of Covid-19. Meanwhile, Trudeau said Friday the delay in receiving Moderna Inc.’s Covid-19 vaccine was temporary.
Commodities
* Western Canadian Select crude oil traded at a $13.25 discount to West Texas Intermediate
* Spot gold rose 0.2% to $1,846.40 an ounce
FX/Bonds
* The Canadian dollar fell 0.4% to C$1.2781 per U.S. dollar
* The 10-year Canada government bond yield rose 7.6 basis points to 0.891%
By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 1.8 percent at 17,337.02 in Toronto. The index dropped to the lowest closing level since Dec. 1 after the previous session’s increase of 1.3 percent. Today, financials stocks led the market lower, as all sectors lost; 192 of 221 shares fell, while 28 rose. Shopify Inc. contributed the most to the index decline, decreasing 2.8 percent. Westshore Terminals Investment Corp. had the largest drop, falling 6.3 percent.
Insights
* This month, the index fell 0.6 percent
* So far this week, the index fell 2.9 percent, heading for the
biggest decline since the week ended Oct. 30
* The index declined 1 percent in the past 52 weeks. The MSCI AC
Americas Index gained 15 percent in the same period
* The S&P/TSX Composite is 4 percent below its 52-week high on
Jan. 8, 2021 and 55.2 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of
25.5 on a trailing basis and 16.6 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.73t
* 30-day price volatility rose to 11.98 percent compared with
10.67 percent in the previous session and the average of 8.75 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -99.5335| -1.9| 0/26
Information Technology | -51.6618| -2.8| 0/10
Industrials | -49.1089| -2.3| 3/26
Energy | -36.4350| -1.8| 1/21
Materials | -25.9796| -1.1| 15/37
Consumer Discretionary | -16.2073| -2.4| 0/13
Communication Services | -16.1488| -1.8| 1/6
Consumer Staples | -7.9630| -1.2| 1/10
Real Estate | -6.8180| -1.2| 0/25
Utilities | -5.1958| -0.6| 6/10
Health Care | -5.1240| -1.9| 1/8
US
By Kamaron Leach and Robert Brand
     (Bloomberg) — Global equities slumped in a broad retreat that extended across industries amid lingering concerns that retail trading was creating havoc and as traders mulled an uncertain outlook for deploying coronavirus vaccines. Treasury yields rose. The S&P 500 Index fell almost 2%, turning negative for the year and posting its biggest weekly decline in three months as day traders’ bids for heavily-shorted stocks fueled speculation hedge funds would need to reduce their market exposure. GameStop Corp. and AMC Entertainment Holdings Inc. soared in a return of volatility for stocks popular in internet chat rooms as brokerages said they would start to ease trading restrictions imposed after wild swings this week. Global stocks also fell the most since late October, partly on the turmoil caused by hordes of day traders hatching stock bets that roiled hedge funds and strained trading platforms.
Meanwhile, investors were left to ponder the outlook for the pandemic as Johnson & Johnson said its one-shot vaccine generated strong protection against Covid-19, though it was less effective against the South Africa variant. The European Union escalated the fight over vaccine supplies with an emergency plan to restrict exports. “Extended and stricter lockdowns do not bode well for the economy,” said Carsten Brzeski, global head of macro at ING Groep. “Demand from China could also weaken on the back of lockdowns.” The Stoxx Europe 600 dropped almost 2% in a broad decline. Swedish retailer Hennes & Mauritz AB fell after warning it’s still in “crisis mode,” with 40% of stores shut. Bootmaker Dr. Martens Plc jumped 22% as it ended its first day of trading in London.
     Elsewhere, a glut of liquidity sent short-term U.S. dollar borrowing costs to a record low. But in China, a money-market rate surged to the highest in almost six years, reflecting tighter financial conditions even after the central bank extended credit for the first time this week.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 1.9% at 4 p.m. in New York.
* The Stoxx Europe 600 index dropped 1.9%.
* The MSCI Asia Pacific index fell 1.6%.
* The MSCI Emerging Markets index dropped 1.6%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.3%.
* The euro strengthened 0.1% to $1.2135.
* The British pound slipped 0.2% to $1.3698.
* The yen dropped 0.5% to 104.73 per dollar.
Bonds
* The yield on 10-year Treasuries rose four basis points to 1.09%.
* Germany’s 10-year yield climbed two basis points to -0.52%.
* The U.K.’s 10-year yield rose four basis points to 0.325%
Commodities
* West Texas Intermediate crude fell 0.2% to $52.22 a barrel.
* Gold rose 0.1% to $1,844.93 an ounce.
–With assistance from Lu Wang, Adam Haigh, Cecile Gutscher and Cormac Mullen.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

Often man is preoccupied with human rules and forgets the inner law.
                               -Louis-Joseph Antoine, the Healer, 1846-1912

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

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

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

Dear Friends,

Tangents:
On Jan. 28, 1986, space shuttle Challenger exploded 73 seconds after liftoff from Cape Canaveral, killing all seven crew members. Go to article »

NASA’s Perseverance rover will begin ‘epic journey’ on Mars next month.  It will collect samples of rocks and dirt from the red planet, and we will cheer it on every step of the way. 

Youth poet laureate Amanda Gorman to recite poem before Super Bowl.  Poetry and football: the collaboration we didn’t know we needed.

$1.8 million:  That’s how much Vermont Sen. Bernie Sanders has raised for charity through the sale of inauguration meme-inspired merchandise.

WHAT TO WATCH: The documentary series “Pretend It’s a City” chronicles the acerbic Fran Lebowitz through the lens of her longtime friend Martin Scorsese. Their pre-pandemic strolls through New York City give the episodes a wistful, bittersweet quality.
PHOTOS OF THE DAY
Stunt biker Danny MacAskill films his new cycling adventure video,’Danny MacAskill – The Slabs’, on the Isle of Skye, using lockdown to focus on even more extreme mountain biking
CREDIT: DAVE MACKISON/PA
A man walks along Rajpath, a ceremonial boulevard, during smoggy conditions in New Delhi, India
CREDIT: Jewel SAMAD/AFP VIA GETTY IMAGES
This photograph of a fox in Westcliff-on-Sea, Essex, is the Overall winner and Gardeners World category winner in the Essex Wildlife Trust Photograph Competition 2020
CREDIT: JULIE LEVERE / SWNS.COM
Market Closes for January 28^th, 2021 

Market Index	Close	Change
Dow Jones	30603.36	+300.19
		+0.99%
S&P 500	3787.38	+36.61
		+0.98%
NASDAQ	13337.158	+66.560 +0.50%
TSX	17657.20	+232.77
		+1.34%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28197.42	-427.79
		-1.53%
HANG SENG	28550.77	-746.76
		-2.55 %
SENSEX	46874.36	-535.57
		-1.13%
FTSE 100*	6526.15	-41.22 -0.63%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.815	.794
CND. 30 Year Bond	1.476	1.442
U.S.    10 Year Bond	1.0449	1.0161
U.S. 30 Year Bond	1.8046	1.7740

Currencies

BOC Close	Today	Previous
Canadian $	.77997	.78106
US $	1.28210	1.28031
Euro Rate 1 Euro=		Inverse
Canadian $	.64331	1.55446
US $	.82478	1.21244

Commodities

Gold	Close	Previous
London Gold Fix	1846	1856.60
Oil
WTI Crude Future	52.34	52.85

Market Commentary:
     On this day in 1965, less than a year after breaking the 800 mark, the Dow Jones Industrial Average closed above 900 for the first time, finishing the day at 900.95.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities rebounded Thursday after sliding the previous two days. The S&P/TSX Composite Index gained 1.3%, the most since Nov. 5, with nine of 11 sectors gaining. Utilities and communication services fell. BlackBerry Ltd. dropped 32%, the most since April 2000, after Robinhood and Interactive Brokers Group curbed trading in the stock after a Reddit-driven surge. Oil declined the most in nearly a week with the spread of new Covid-19 variants and tighter lockdown measures weighing on nascent hopes of a demand recovery.
Commodities
* Western Canada Select crude oil traded at a $12.80 discount to West Texas Intermediate
* Spot gold fell 0.1% to $1,842 an ounce
FX/Bonds
* The Canadian dollar fell 0.2% to C$1.2823 per U.S. dollar
* The 10-year government bond yield rose 2.2 basis points to 0.815%
By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose 1.3 percent at 17,657.20 in Toronto. The move was the biggest since rising 1.9 percent on Nov. 5 and follows the previous session’s decrease of 2 percent. Today, materials stocks led the market higher, as 9 of 11 sectors gained; 175 of 221 shares rose, while 45 fell. Shopify Inc. contributed the most to the index gain, increasing 2.6 percent. First Majestic Silver Corp. had the largest increase, rising 21.6 percent.
Insights
* This month, the index rose 1.3 percent
* So far this week, the index fell 1.1 percent
* The index advanced 0.9 percent in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 2.2 percent below its 52-week high on
Jan. 8, 2021 and 58 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1.4 percent in the past 5 days and was little changed in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
25.8 on a trailing basis and 16.9 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$2.69t
* 30-day price volatility rose to 10.67 percent compared with
10.10 percent in the previous session and the average of 8.60 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | 76.9427| 3.4| 50/2
Financials | 61.5960| 1.2| 18/8
Industrials | 49.0068| 2.3| 20/8
Energy | 19.5899| 1.0| 15/7
Consumer Discretionary | 12.6973| 1.9| 11/2
Health Care | 10.2944| 3.9| 8/1
Consumer Staples | 3.4554| 0.5| 8/3
Real Estate | 3.3256| 0.6| 21/5
Information Technology | 0.1607| 0.0| 8/2Communication Services | -2.0893| -0.2| 6/1
Utilities | -2.2256| -0.2| 10/6
US
By Vildana Hajric and Lu Wang
(Bloomberg) — U.S. equities mounted a comeback from their worst loss since October as moves to limit retail traders’ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching. The S&P 500 Index rose 1% after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk. That dynamic reversed Thursday, and a Goldman Sachs basket of stocks favored by hedge funds jumped the most since early November, halting a five-day slide. An index of the most-shorted shares tumbled more than 7%, the most since June. GameStop whipsawed, rising as much as 39% in early trading before plunging as much as 68%. It closed down 44%. AMC sank 57%, American was up 9.3% and Tootsie Roll Industries lost 9.5%.   
     The trading restrictions sparked outrage on the WallStreetBets forum where day traders have convened to drive the manic rallies that burned hedge funds across Wall Street. Washington took notice of what some have called inequitable rules, with Democratic and Republican lawmakers criticizing restrictions imposed on retail investors. All 11 industry groups in the S&P 500 traded higher, with sentiment also boosted by solid corporate earnings from the likes of Mastercard Inc. and Comcast Corp. and a surprise drop in jobless claims. Stocks have seen volatile trading after a prolonged rally that spurred talk of possible asset bubbles and predictions of a
pullback given a raging pandemic and patchy rollout of vaccines. The turmoil created by internet chat rooms has stoked fears of broader consequences for Wall Street, particularly hedge funds, but that fear seemed to fade on Thursday. “Earnings are great and guidance is better and we’re picking up the pace of getting vaccines out and eventually we’ll have fiscal stimulus coming out of Washington,” said Arthur Hogan, chief market strategist at National Securities Corp. “The market is trying to digest a lot of things at the same time.”
The Stoxx Europe 600 Index edged higher. Earnings beatsfrom STMicroelectronics NV and Diageo Plc were accompanied by a miss from Swatch Group AG and a revenue drop at EasyJet Plc. The benchmark 10-year Treasury yield rose after touching the lowest level since Jan. 5. Bitcoin climbed past $32,000. Stocks in Hong Kong and Australia saw the bulk of Asian losses. These are some key events coming up in the week ahead:
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index jumped 1% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index rose 0.1%.
* The MSCI Asia Pacific Index fell 1.8%.
* The MSCI Emerging Market Index fell 1.4%.
Currencies
* The Bloomberg Dollar Spot Index slipped 0.2%.
* The euro rose 0.2% to $1.2129.
* The British pound rose 0.4% to $1.3736.
* The Japanese yen weakened 0.1% to 104.23 per dollar.
Bonds
* The yield on 10-year Treasuries rose four basis points to 1.05%.
* Germany’s 10-year yield rose one basis point to -0.54%.
* Britain’s 10-year yield rose two basis points to 0.285%.
Commodities
* West Texas Intermediate crude fell 1% to $52.31 a barrel.
* Gold fell 0.1% to $1,842.54 an ounce.

–With assistance from Cormac Mullen, Gregor Stuart Hunter, Michael Msika, Adam Haigh, Cecile Gutscher and Yakob Peterseil.
Have a great night.

Be magnificent!

As ever,

Carolann

Adversity is a mirror that reveals one’s true self.
                                          -Chinese proverb

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: HOLOCAUST MEMORIAL DAY, UK.
January 27, 1945: soviet troops liberate Auschwitz and Birkenau Concentration Camps in Poland.

After more than seven decades after one of the darkest periods in human history, some 400 people aged 85 and older, many of them Holocaust survivors, were vaccinated in Vienna on International Holocaust Remembrance Day.

On Jan. 27, 1967, Astronauts Virgil I. ”Gus” Grissom, Edward H. White and Roger B. Chaffee died in a flash fire during a test aboard their Apollo I spacecraft at Cape Kennedy, Fla. Go to article »

1972: Vietnam Peace Agreement signed.

Wolfgang Amadeus Mozart, Composer, b. 1756.
Lewis Carroll, writer, b. 1832.
Mikhail Baryshnikov, dancer, b. 1948.

From the Late Night Host:

“Earlier today, all 100 senators were sworn in as jurors for Donald Trump’s upcoming impeachment trial, which starts on Feb. 8. The trial is to determine if the attack on the Capitol by thousands of people wearing flags that said ‘Trump’ and hats that said ‘Trump’ is the fault of — get this — Trump.” — JAMES CORDEN

“Now, to get a conviction, the House is going to have to convince 17 Republican senators that the former president incited the riot. Even though they were all hustled out through secret tunnels to keep them from being murdered by the president’s own bloodthirsty, fascist squad of goons, they’re on the fence.” — STEPHEN COLBERT

“Apparently, playing 36 holes of golf every day isn’t as exciting when you’re not ignoring a global pandemic.” — JIMMY FALLON

“But today Trump’s aides were trying to cheer him up. They were like, ‘Good news, sir, your trial starts in two weeks.’” — JIMMY FALLON
PHOTOS OF THE DAY
The Duchess of Cambridge chats to holocaust survivors Manfred Goldberg and Zigi Shipper, whom she met at former concentration camp Stutthof in 2017.
CREDIT: KENSINGTON PALACE
A lunar corona shines in the night sky above the northern Italian city of Parma
CREDIT: ALBERTO GHIZZI PANIZZA/SWNS.COM
George visits his wife Phyllis on her birthday at a care home in Sheffield
CREDIT:@CAREQUALITYCOMM
Two skiers pass by traffic signs drowned in the snow by the Dappes Car Park near La Dole
CREDIT: FABRICE COFFRINI/AFP VIA GETTY IMAGES
Market Closes for January 27^th, 2021 

Market Index	Close	Change
Dow Jones	30303.17	-633.87
		-2.05%
S&P 500	3750.77	-98.85
		-2.57%
NASDAQ	13270.598	-355.466 -2.61%
TSX	17424.43	-354.98
		-2.00%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28635.21	+89.03
		+0.31%
HANG SENG	29297.53	-93.73
		-0.32%
SENSEX	47409.93	-937.66
		-1.94%
FTSE 100*	6567.37	-86.64 -1.30%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.794	.818
CND. 30 Year Bond	1.442	1.454
U.S.    10 Year Bond	1.0161	1.0345
U.S. 30 Year Bond	1.7740	1.7906

Currencies

BOC Close	Today	Previous
Canadian $	.78106	0.78772
US $	1.28031	1.26949
Euro Rate 1 Euro=		Inverse
Canadian $	1.55064	.64489
US $	1.21115	.82566

Commodities

Gold	Close	Previous
London Gold Fix	1856.60	1856.85
Oil
WTI Crude Future	52.85	52.61

Market Commentary:
     On this day in 1938, the New York Stock Exchange finally recommended installation of a board of governors, a salaried independent president and a specialized administrative staff. Previously, the exchange had functioned like a private gentleman’s club, with conduct enforced mainly by unspoken codes of honor and a pro-bono president
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell the most since late October on Wednesday as part of a broad-based decline that pushed the benchmark index to its lowest since mid-December and erased the New Year’s advance. The S&P/TSX Composite Index retreated 2%, with ten of eleven sectors falling. Materials and industrials led the decline. Amid increased signs of market euphoria, there’s plenty of investor nerves out there — but also a reluctance to forgo gains. That favors complex options trades that protect against crashes but keep investors in the market, according to RBC strategists. Gold traded little changed, paring the day’s steepest losses, as a retreat in equities and lower U.S. Treasury yields diminished the allure of a stronger dollar.
Commodities
* Western Canada Select crude oil traded at a $12.80 discount to West Texas Intermediate
* Spot gold fell 0.5% to $1,842 an ounce
FX/Bonds
* The Canadian dollar fell 0.9% to C$1.2810 per U.S. dollar
* The 10-year government bond yield fell 2.0 basis points to 0.798%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 2 percent, or 354.98 to 17,424.43 in Toronto. The move was the biggest since falling 2.7 percent on Oct. 28. Today, materials stocks led the market lower, as 10 of 11 sectors lost; 195 of 221 shares fell, while 25 rose. Shopify Inc. contributed the most to the index decline, decreasing 5.1 percent. Aurinia Pharmaceuticals Inc. had the largest drop, falling 8.1 percent.
Insights
* In the past year, the index had a similar or greater loss 19 times. The next day, it advanced 13 times for an average 3.3 percent and declined six times for an average 5 percent
* This month, the index was little changed
* The index was little changed in the past 52 weeks. The MSCI AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 3.5 percent below its 52-week high on Jan. 8, 2021 and 56 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 3.3 percent in the past 5 days and fell 1.1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 25.5 on a trailing basis and 16.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.75t
* 30-day price volatility rose to 10.10 percent compared with 8.46 percent in the previous session and the average of 8.51 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -82.5842| -3.5| 2/50
Financials | -78.1901| -1.5| 2/24
Industrials | -69.0967| -3.2| 4/25
Information Technology | -38.5964| -2.1| 3/7
Energy | -32.3889| -1.6| 6/15
Consumer Discretionary | -19.5372| -2.8| 1/12
Utilities | -13.6378| -1.5| 1/15
Communication Services | -7.9720| -0.9| 1/6
Real Estate | -7.4187| -1.3| 1/25
Consumer Staples | -5.7934| -0.9| 0/11
Health Care | 0.2465| 0.1| 4/5
US
By Claire Ballentine and Sophie Caronello
(Bloomberg) — U.S. equities tumbled as a risk-off mood descended on markets amid growing concern that stocks have become overvalued. The dollar jumped the most since September and Treasury yields slipped. The S&P 500 Index recorded its worst rout since October, with the gauge down 2.6% after Federal Reserve officials left their main interest rate unchanged without promising any more aid for the economy. The selloff was widespread, sinking all 11 groups in the benchmark stock gauge. Turmoil continued in pockets of the market where retail traders are becoming a dominant force, with shares of GameStop Corp. and AMC Entertainment Holdings Inc. soaring as investment pros questioned whether there’s any rationale behind the moves.
The Stoxx Europe 600 Index declined the most in five weeks as the European Union and AstraZeneca Plc squabbled over vaccine delivery delays. The euro fell after a European Central Bank official said the markets are underestimating the odds of a rate cut. Officials in the U.K. announced new rules to try to curb the spread of Covid-19 and Germany cut its 2021 economic growth forecast to 3% from 4.4%. An extended run higher for stocks has reversed this week as investors look to a spate of earnings releases for clues about the health of the corporate world. Federal Reserve Chairman Jerome Powell said at a press conference that the U.S. economy was a long way from full recovery and still short of policy makers’ inflation and job goals. “It was always doubtful the Fed would announce any new actions this month,” said Seema Shah, chief strategist at Principal Global Investors. “After a few weeks of Fed speakers pushing back on the monetary tightening narrative, it wasn’t surprising to hear Powell reassert the message that tapering is not on the agenda for 2021.”
The stock selloff is also being driven partly by speculation that hedge funds will be forced to reduce their equity holdings as retail investors make a concerted effort to boost shares the professional investors have bet against, according to Matt Maley, chief market strategist at Miller Tabak + Co. “A lot of them are getting burned by their shorts, and I think the market is worried that they’ll have to sell some stocks to meet their margin calls,” he said. Elsewhere, Bitcoin fell below $30,000 before paring the decline and precious metals slumped. Asian stocks fell for a second day as investors took a breather following the regional benchmark’s ascent to a record high Monday. In the region, benchmarks in India, Vietnam and the Philippines were among the biggest losers. These are some key events coming up in the week ahead:
* Apple Inc., Tesla Inc., Facebook Inc. and Samsung Electronics Co. are among companies reporting results.
* Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 2.6% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index declined 1.2%.
* The MSCI Asia Pacific Index fell 0.8%.
* The MSCI Emerging Market Index dipped 1.3%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.7%.
* The euro fell 0.5% to $1.2104.
* The British pound weakened 0.4% to $1.3683.
* The Japanese yen fell 0.5% to 104.18 per dollar.
Bonds
* The yield on 10-year Treasuries fell one basis point to 1.02%.
* Germany’s 10-year yield fell one basis point to -0.55%.
* Britain’s 10-year yield was little changed at 0.27%.
Commodities
* West Texas Intermediate crude rose 0.1% to $52.67 per barrel.
* Gold fell 0.5% to $1,842.36 an ounce.

–With assistance from David Wilson, Yakob Peterseil and Andreea Papuc.
Have a great night.

Be magnificent!
As ever,

Carolann

You may not have started out life in the best of circumstances.  But if you can find a mission in life
worth working for and believe in yourself, nothing can stop you from achieving success.
                                                                -Kemmons Wilson, 1913-2003 (holiday Inn founder).

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:
Australia Day, 1^st British settlement, 1788
On Jan. 26, 1950, India proclaimed itself a republic. Go to article »

A ginormous earthquake hit the Pacific Northwest coast on this day in 1700. Read about the really, really “Big One,” which caused the entire coastline to suddenly drop 3 to 6 feet as it sent a 33-foot high tsunami across the ocean to Japan. Might not be a bad reminder to refresh the ol’ disaster kit and get ready to rumble with our guide to earthquake preparedness.-The Seattle Times.

The Late Night Hosts weigh in on the impeachment:
“Man, they’re throwing everything at the wall: Impeachment will stir up the country, the election was stolen, we all bear some responsibility. It’s like getting pulled over with a giant plume of marijuana smoke in the car and telling the cop, ‘I think it’s the exhaust pipe, and it is legal in several states, and I only started smoking when you pulled me over because that gave me severe anxiety.’” — SETH MEYERS

“So you just want to let him off scot-free for insurrection because he’s no longer in power? That’s like acquitting Jeffrey Dahmer because he’s full.” — STEPHEN COLBERT

“Violent seditionists and white supremacists and militia members stormed the Capitol building and tried to overthrow democracy. We have to do something about that so it doesn’t happen again. Instead, Republican leaders are talking about Trump’s base the way park rangers talk about bears on a campground: ‘Don’t make eye contact, move away slowly, and if worst comes to worst, let ‘em eat your hot dogs — they’re just hot dogs.’” — SETH MEYERS
PHOTOS OF THE DAY
Dawn breaks over Tynemouth Longsands beach.
CREDIT: OWEN HUMPHREYS/PA
Skier makes their way down a freshly snow-covered Mammoth Mountain Ski Area, in Mammoth Lakes, California
CREDIT: PETER MORNING/ MAMMOTH MOUNTAIN SKY AREA VIA AP
Amazing Photo Appears To Show Lion With Cheetah’s Head In Its Mouth. This jaw-dropping shot appears to show a very hungry lion with a cheetah’s head in its mouth. It is actually a clever optical illusion with the lion in the foreground lined up perfectly with the other big cat. Wildlife photographer Saeed Aljafar captured the amazing scene in Kenya’s Masai Mara. 
CREDIT: SAEED ALJAFAR/COVER-IMAGES.COM
Market Closes for January 26^th, 2021 

Market Index	Close	Change
Dow Jones	30937.04	-22.96
		-0.07%
S&P 500	3849.62	-5.74
		-0.15%
NASDAQ	13626.066	-9.926 -0.07%
TSX	17779.41	-126.61
		-0.71%

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28546.18	-276.11
		-0.96%
HANG SENG	29391.26	-767.75
		-2.55%
SENSEX	48347.59	-530.95
		-1.09%
FTSE 100*	6654.01	+15.16 +0.23%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.818	.812
CND. 30 Year Bond	1.454	1.445
U.S.    10 Year Bond	1.0345	1.0295
U.S. 30 Year Bond	1.7906	1.7920

Currencies

BOC Close	Today	Previous
Canadian $	0.78772	.78468
US $	1.26949	1.27440
Euro Rate 1 Euro=		Inverse
Canadian $	.64771	1.54391
US $	0.82225	1.21617

Commodities

Gold	Close	Previous
London Gold Fix	1856.85	1852.70
Oil
WTI Crude Future	52.61	52.75

Market Commentary:
On this day in 1921, Akio Morita, the future co-founder of Sony, was born in Nagoya, Japan.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities fell Tuesday amid weakness across multiple sectors. The S&P/TSX Composite Index lost 0.7%, the most since Dec. 14, with seven of 11 sectors lower. Marijuana stocks rallied with Canopy Growth Corp. and Aphria Inc. each gaining at least 7.5%. Prime Minister Justin Trudeau said his government is preparing to unveil new travel measures soon to help protect Canadians from new Covid-19 variants.
Commodities
* Western Canadian Select crude oil traded at a $13.30 discount to West Texas Intermediate
* Spot gold fell 0.2% to $1,851.47
FX/Bonds
* The Canadian dollar rose 0.4% to C$1.2693 per U.S. dollar
* The 10-year Canada government bond yield edged higher to 0.819%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell 0.7 percent at 17,779.41 in Toronto. The move was the biggest since falling 0.9 percent on Dec. 14 and follows the previous session’s increase of 0.3 percent. Shopify Inc. contributed the most to the index decline, decreasing 4.2 percent. Vermilion Energy Inc. had the largest drop, falling 8.8 percent. Today, 127 of 221 shares fell, while 89 rose; 7 of 11 sectors were lower, led by information technology stocks.
Insights
* This month, the index rose 2 percent
* The index advanced 1.2 percent in the past 52 weeks. The MSCI
AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 1.5 percent below its 52-week high on
Jan. 8, 2021 and 59.1 percent above its low on March 23, 2020
* The S&P/TSX Composite is down 1 percent in the past 5 days and rose 0.9 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.1 on a trailing basis and 17 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 8.46 percent compared with
8.19 percent in the previous session and the average of 8.43 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | -55.6062| -2.9| 3/7
Energy | -31.7539| -1.5| 2/20
Materials | -23.8494| -1.0| 23/28
Industrials | -14.2119| -0.6| 12/17
Consumer Discretionary | -7.6752| -1.1| 4/9
Utilities | -4.6364| -0.5| 5/11
Consumer Staples | -0.7503| -0.1| 7/4
Real Estate | 1.6741| 0.3| 16/8
Financials | 1.7454| 0.0| 8/17
Communication Services | 3.0358| 0.3| 5/1
Health Care | 5.4167| 2.1| 4/5
US
By Lu Wang and Claire Ballentine
(Bloomberg) — U.S. stocks slid ahead of earnings reports from the biggest tech companies. The dollar weakened. The S&P 500 Index edged lower after struggling to gain traction throughout the day, weighed down by worries over new coronavirus variants and hurdles to a fresh aid package. Small- caps were among the worst performers as traders turned away from bets on an end to Covid lockdowns. GameStop Corp. extended its astronomical surge as day traders continued to pile into the heavily shorted retailer. European stock markets closed in the green. Naturgy Energy Group SA soared 15% as asset manager IFM Global Infrastructure offered to buy a stake in the Spanish utility. Sweden’s EQT AB, one of Europe’s biggest private equity firms, jumped 15% after agreeing to take over Exeter Property Group in a $1.9 billion deal.
Global stocks are mostly treading water near record highs as U.S. corporate earnings season gears up this week, with traders also keeping an eye on developments related to the pandemic and its spread. Vaccine coverage won’t reach a point that would stop transmission of the virus in the foreseeable future, the World Health Organization said. “There’s little bit of bumpiness to start the week,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management. “Part of the cross current we’re seeing is concern about the new variants of the virus that seem to be spreading quite a bit. It just raises a question of uncertainty and when we’re going to get out from under the cloud of Covid.” Elsewhere, Treasury yields held steady. Bitcoin retreated to trade near $32,000. In Asia, stock markets took a dive after China’s central bank withdrew cash from the banking system and an official cautioned about asset bubbles. The MSCI Asia Pacific Index sank the most in two months and internet giant Tencent Holdings Ltd. lost 6.3%.

These are some key events coming up in the week ahead:
* Microsoft Corp., Apple Inc., Tesla Inc., Facebook Inc. and
Samsung Electronics Co. are among companies reporting results.
* The Federal Open Market Committee monetary policy decision and
briefing by Chair Jerome Powell are scheduled for Wednesday.
* Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.2% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index gained 0.6%.
* The MSCI Asia Pacific Index fell 1.2%.
* The MSCI Emerging Market Index dipped 1.5%.
Currencies
* The Bloomberg Dollar Spot Index fell 0.3%.
* The euro rose 0.2% to $1.2166.
* The British pound climbed 0.4% to $1.3737.
* The Japanese yen rose 0.1% to 103.62 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 1.04%.
* Germany’s 10-year yield added two basis points to -0.54%.
* Britain’s 10-year yield was little changed at 0.26%.
Commodities
* West Texas Intermediate crude fell 0.5% to $52.55 per barrel.
* Gold fell 0.2% to $1,852.18 an ounce.
–With assistance from Cormac Mullen and Anchalee Worrachate.
Have a great night.

Be magnificent!
As ever,

Carolann

Chance favors the informed mind. –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:
Robert Burns, poet, b. 1759.
O my Luve’s like a red, red rose,
That’s newly sprung in June:
O my Luve’s like the melodie,
That’s sweetly played in tune….
                     -Robert Burns
Virginia Woolf, writer, b. 1882.
As an experience, madness is terrific….and in its lava I still find most of the things I write about.
A woman must have money and a room of her own if she is to write fiction. -Virginia Woolf

W. Somerset Maugham, b. 1874
It’s a funny thing about life; if you refuse to accept anything but the best, you very often get it.
To acquire the habit of reading is to construct for yourself a refuge from almost all the miseries of life. –Somerset Maugham

On Jan. 25, 1915, the inventor of the telephone, Alexander Graham Bell, inaugurated U.S. transcontinental telephone service. Go to article »
1984- Macintosh computer debuts.

Bernie Sanders turns inauguration meme into sweatshirt for charity
He’s embraced his new role as a cozy fashion inspiration
A woman who won a $60 million lottery said she got the winning numbers from her husband’s dream
Some husbands dream about accidentally showing up to work in their underwear, and others dream of $60 million premonitions.  
The secret ingredient that powers Supernovas

PHOTOS OF THE DAY
Robot Franziska cries because someone stands in its way while cleaning the floor
CREDIT: ANDREAS GEBERT/REUTERS
Horses are dwarfed by their shadows in their meadow in Saint-Gondran, western France
CREDIT: DAMIEN MEYER/AFP VIA GETTY IMAGES
A field of rapeseed sits in the foreground, with Mount Fuji in the background at Azumayama Park in Ninomiya, Japan
CREDIT: JIJI PRESS/AFP VIA GETTY IMAGES
Market Closes for January 25th, 2021 

Market Index	Close	Change
Dow Jones	30960.00	-36.98
		-0.12%
S&P 500	3855.36	+13.89
		+0.36%
NASDAQ	13635.992	+92.930 +.69%
TSX	17906.02	+60.11
		+.32%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28822.29	+190.84
		+0.67%
HANG SENG	30159.01	+711.16
		+2.41%
SENSEX	48347.59	-530.95
		-1.09%
FTSE 100*	6638.85	-56.22 -0.84%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.812	.846
CND. 30 Year Bond	1.445	1.473
U.S.    10 Year Bond	1.0295	1.0855
U.S. 30 Year Bond	1.7920	1.8466

Currencies

BOC Close	Today	Previous
Canadian $	.78468	0.78494
US $	1.27440	1.27399
Euro Rate 1 Euro=		Inverse
Canadian $	.64619	1.54753
US $	.82350	1.21432

Commodities

Gold	Close	Previous
London Gold Fix	1852.70	1862.10
Oil
WTI Crude Future	52.75	52.25

Market Commentary:
On this day in 1853, basic financial disclosure became mandatory for all companies seeking to list their stock for trading on the New York Stock & Exchange Board.
Canada
By Michael Bellusci
(Bloomberg) — Canadian equities rose Monday with tech stocks in the limelight ahead of corporate earnings. The S&P/TSX Composite Index gained 0.3% as BlackBerry Ltd. jumped 31% to its highest level since 2011. Materials and health care were among laggards. Oil gained the most in about a week with expectations for tighter global supply offsetting concerns that a bumpy Covid-19 vaccine rollout will further blunt demand. Moderna Inc. said its vaccine will protect against two known variants of the Covid-19 virus, but it plans to start human studies of a booster shot for a strain from South Africa that may cause immunity to wane more quickly.
Commodities
* Western Canadian Select crude oil traded at a $13.75 discount to West Texas Intermediate
* Spot gold fell 0.01% to $1,855.44
FX/Bonds
* The Canadian dollar fell 0.1% to C$1.2744 per U.S. dollar
* The 10-year Canada government bond yield fell 3.6 basis points to 0.806%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite rose 0.3 percent at 17,906.02 in Toronto. The move was the biggest since rising 1.1 percent on Jan. 7 and follows the previous session’s decrease of 0.4 percent. BlackBerry Ltd. contributed the most to the index gain, increasing 28.3 percent. Tfi International Inc. had the largest increase, rising 32.3 percent. Today, 108 of 221 shares rose, while 107 fell; 6 of 11 sectors were higher, led by information technology stocks.
Insights
* This month, the index rose 2.7 percent
* The index advanced 1.9 percent in the past 52 weeks. The MSCI AC Americas Index gained 18 percent in the same period
* The S&P/TSX Composite is 0.8 percent below its 52-week high on Jan. 8, 2021 and 60.3 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed 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
26.3 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$2.76t
* 30-day price volatility rose to 8.19 percent compared with
8.16 percent in the previous session and the average of 8.42 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | 30.0351| 1.6| 7/3
Industrials | 25.7655| 1.2| 20/8
Communication Services | 9.3373| 1.1| 5/2
Consumer Staples | 6.7729| 1.1| 7/3
Utilities | 0.7994| 0.1| 8/8
Consumer Discretionary | 0.0283| 0.0| 6/7
Energy | -0.5457| 0.0| 11/10
Health Care | -0.9692| -0.4| 4/4
Financials | -1.0778| 0.0| 16/10
Real Estate | -1.1639| -0.2| 10/15
Materials | -8.8766| -0.4| 14/37
US
By Katherine Greifeld
(Bloomberg) — Technology shares led gains in U.S. stocks as investors awaited earnings from some of the biggest companies. The Nasdaq 100 climbed amid gains for Apple Inc., Tesla Inc. and Microsoft Corp. The S&P 500 Index ended higher, though gains were limited after the top Senate Democrat said lawmakers said an aid package was unlikely before mid-March and a U.S. health official expressed concern about vaccination delays. GameStop Corp. extended its extreme volatility, more than doubling before paring most of the gains. The picture was more negative in Europe, with equity benchmarks in France, Spain and the U.K. ending lower. The Stoxx 600 Travel & Leisure index lost 1.9% amid news France may go into another lockdown, the U.K. may tighten border controls and as Israel moved to bar foreign flights from entering the country.
The S&P 500 is coming off its best week since November, and investors are looking for fresh catalysts to push the index higher or at least justify current valuations. That could come from a slate of earnings reports due this week that will shed light on how the biggest tech companies are faring and whether retailers, travel companies and restaurants are seeing any meaningful pickup in business. “You’ve got 65% of market cap reporting in the next two weeks,” Stuart Kaiser, head of derivatives research at UBS Group AG, said in a Bloomberg Television interview. “The market had rotated into cyclical/value stocks at the end of last year and early into this year, and as earnings have started, I think they’ve been sort of reminded why they liked the leaders to begin with from last year.” In Asia, stocks gained. Chinese internet firm Tencent Holdings Ltd. jumped 11%, the biggest gain since 2011, as mainland traders sparked a buying frenzy. Elsewhere in markets, crude oil in New York climbed toward $53 a barrel and the dollar gained. Sovereign bond yields dipped while Bitcoin rebounded above $34,000 before paring the advance.
These are some key events coming up in the week ahead:
* Microsoft Corp., Apple Inc., Tesla Inc., Facebook Inc., UBS Group AG and Samsung Electronics Co. are among companies reporting results.
* Data on U.S. home prices and consumer confidence come Tuesday.
* The Federal Open Market Committee monetary policy decision and briefing by Chair Jerome Powell are scheduled for Wednesday.
* Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
* U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.4% as of 4 p.m. New York time.
* The Stoxx Europe 600 Index declined 0.8%.
* The MSCI Asia Pacific Index advanced 1%.
* The MSCI Emerging Market Index climbed 1.2%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.2%.
* The euro decreased 0.3% to $1.2141.
* The British pound fell 0.1% to $1.3668.
* The Japanese yen was little changed at 103.77 per dollar.
Bonds
* The yield on 10-year Treasuries declined five basis points to 1.04%.
* Germany’s 10-year yield decreased four basis points to -0.55%.
* Britain’s 10-year yield fell five basis points to 0.26%.
Commodities
* West Texas Intermediate crude rose 1% to $52.80 a barrel.
* Gold was little changed at $1,855.01 an ounce.
–With assistance from Joanna Ossinger, Paul Jarvis, Anchalee Worrachate and Sunil Jagtiani.

Have a great night.

Be magnificent!
As ever,

Carolann

The secret of success is before attempting anything,
be very clear about why you are doing it. –Guan Yin Tzu.

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.
Bees aren’t getting enough sleep, thanks to some common pesticides.  You monsters! Let the bees sleep! –CNN.

Forget the mittens; Bernie Sanders’ inauguration coat is selling out

Hank Aaron, who faced down racism to become one of baseball’s greatest players and its home run king, has died at 86.  The Atlanta Braves, his team for many years, confirmed the death but did not provide a cause.  Aaron’s pursuit of Babe Ruth’s career record of 714 home runs proved a deeply troubling affair beyond the pressures of the ball field. When Aaron hit his 715th home run in 1974 against the Los Angeles Dodgers, he prevailed in the face of hate mail and death threats from racists who were outraged that a Black man could supplant a white baseball icon. 

“It really made me see for the first time a clear picture of what this country is about,” Aaron later said of the accomplishment. He would go on to hold the title of most home-runs — 755 in total — for 30 years. It was one of many outrageous stats held by Hammerin’ Hank. -NYTimes.

The Late Night Hosts weighed in on Biden’s first day in the White House:
“The first day on the job is stressful — any job — but especially when you’re the new manager and the last guy got called into H.R. for inappropriate workplace treasoning,” Stephen Colbert said.

“Yeah, it was Biden’s first full day. I’m sure part of him was like, ‘Just to mess with everyone, I should go golfing.’” — JIMMY FALLON

“The Trump administration had a year and they didn’t even sit down and draw up a plan. Was coronavirus task force leader Mike Pence in cold storage during that whole time? Did Dr. Birx get lost in a pile of scarves?” — SETH MEYERS

“Yeah, I mean, honestly, what did they expect? It’s like walking into your house and being mad that your dog didn’t do your taxes.” — JIMMY FALLON
PHOTOS OF THE DAY
A drone photo shows goats and shepherds walk in a single line on the slopes of the snowy mountains returning from the plateaus of 2,500 altitude in Diyarbakr’s Kulp district, Turkey
CREDIT: BESTAMI BODRUK/ANADOLU AGENCY VIA GETTY IMAGES
This Globe-bearing treehopper (Bocydium globulare) or Helicopter treehopper is pictured in the Amazon Rainforest, near Puyo, Ecuador
CREDIT: DAVID WEILLER/WENN
New York-style Brasher Doubloon
CREDIT: HERITAGE AUCTIONS VIA AP

Market Closes for January 22^nd, 2021 

Market Index	Close	Change
Dow Jones	30996.98	-179.03
		-0.57%
S&P 500	3841.47	-11.60
		-0.30%
NASDAQ	13543.063	+12.148 +0.09%
TSX	17845.91	-70.29
		-0.39%

 

 

 

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28631.45	-125.41
		-0.44%
HANG SENG	29447.85	-479.91
		-1.60%
SENSEX	48878.54	-746.22
		-1.50%
FTSE 100*	6695.07	-20.35 -0.30%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	.846	0.870
CND. 30 Year Bond	1.473	1.499
U.S.    10 Year Bond	1.0855	1.1058
U.S. 30 Year Bond	1.8466	1.8692

Currencies

BOC Close	Today	Previous
Canadian $	0.78494	0.79131
US $	1.27399	1.26373
Euro Rate 1 Euro=		Inverse
Canadian $	0.64483	1.55080
US $	0.82150	1.21728

Commodities

Gold	Close	Previous
London Gold Fix	1862.10	1856.60
Oil
WTI Crude Future	52.25	53.09

Market Commentary:
     On this day in 1968, in an emergency move, the New York Stock Exchange closed 90 minutes early, at 2 p.m. The early close, reported The Wall Street Journal, was meant to help inundated trading clerks catch up on a “deluge of paper work that has resulted from a recent sustained period of unusually heavy trading.” 
Canada
By Aoyon Ashraf and Michael Bellusci
(Bloomberg) — Canadian stocks dropped for a second straight week as traders weighed coronavirus lockdowns and corporate earnings. The S&P/TSX Composite Index dropped 0.4% Friday, with energy and financials lagging. Info tech advanced. Oil declined the most in a week on Friday with rising U.S. crude stockpiles seen as an obstacle facing a market that is still recovering from a pandemic-induced demand slump. The Ontario Teachers’ Pension Plan committed to reaching net-zero emissions across its investment portfolio within three decades.
Commodities
* Western Canadian Select crude oil traded at a $14.00 discount to West Texas Intermediate
* Spot gold fell 0.8% to $1,854.70
FX/Bonds
* The Canadian dollar fell 0.7% to C$1.2727 per U.S. dollar
* The 10-year Canada government bond yield fell 2.4 basis points to 0.846%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.4 percent, or 70.29 to 17,845.91 in Toronto. The index dropped to the lowest closing level since Jan. 6. Toronto-Dominion Bank contributed the most to the index decline, decreasing 1.2 percent. Vermilion Energy Inc. had the largest drop, falling 5.6 percent. Today, 149 of 221 shares fell, while 70 rose; 6 of 11 sectors were lower, led by financials stocks.
Insights
* This month, the index rose 2.4 percent
* So far this week, the index fell 0.4 percent
* The index advanced 1.4 percent in the past 52 weeks. The MSCI
AC Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 1.2 percent below its 52-week high on
Jan. 8, 2021 and 59.7 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.2 on a trailing basis and 17.1 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 fell to 8.16 percent compared with
8.19 percent in the previous session and the average of 8.52 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -41.2581| -0.8| 3/23
Energy | -24.9611| -1.2| 3/19
Materials | -11.9560| -0.5| 13/39
Industrials | -8.3098| -0.4| 13/16
Real Estate | -1.9974| -0.4| 5/20
Consumer Discretionary | -0.8789| -0.1| 5/8
Communication Services | 0.0306| 0.0| 5/2
Consumer Staples | 0.0423| 0.0| 4/6
Health Care | 1.5690| 0.6| 5/4
Utilities | 4.2921| 0.5| 10/6
Information Technology | 13.1355| 0.7| 4/6
US
By Lu Wang
(Bloomberg) — U.S. stocks slipped from records as investors grew anxious that the virus will hamper growth for longer than expected and Democrats may struggle to get a nearly $2 trillion spending bill through Congress. The S&P 500 Index fell for the first time in four days, with losses widening on reports that the new virus strain may be deadlier. It rose 1.9% in the week. Oil’s slump dragged energy companies lower, while Intel Corp. dropped after its new boss recommitted to chipmaking, a move opposed by some investors. Yields on Treasuries edged lower, and crude oil slid below $53 a barrel. Bloomberg’s dollar index rose for the first time in five sessions. Overseas markets struggled after economic data in Europe missed estimates. IHS Markit data showing a pickup in U.S. manufacturing did little to boost sentiment.
     Senate Republicans continued to come out against Joe Biden’s aid package, threatening the legislation’s passage in the sharply divided body.  “The virus numbers are not good right now obviously around the world, especially in the U.S. and in Europe, and we’re also getting a little bit more question about how much of the stimulus is actually feasible and what’s the timeline,” Scott Ladner, chief investment officer at Horizon Investments, said by phone. “Those two things are putting just a damper on the enthusiasm that has existed since November.” The week’s global equity rally, spurred by expectations of economic support and the rollout of vaccines, paused as traders weigh still-troubling Covid-19 trends. Biden, who is pushing for $1.9 trillion in additional spending, unveiled a strategy to combat the virus while warning the pandemic will worsen before it improves.
      Restrictions intensified from Germany and the U.K. to Hong Kong, and the European Central Bank cautioned that the euro area is headed for a double-dip recession. The U.K.’s new more contagious strain of coronavirus may be linked to higher mortality, Prime Minister Boris Johnson has said. “Recent news flow on the pandemic has not been favorable,” said Jean-Francois Paren, global head of market research at Credit Agricole. “After the post-election wave of optimism from the U.S., markets have been left facing the reality of vaccine delivery and new lockdown measures, and the perspective of a double-dip in Europe.” The Stoxx Europe 600 index fell for the second straight week as a gauge of private-sector activity in the euro region fell deeper into contraction and Germany cut its forecast for economic growth. The British pound weakened after Johnson said the U.K.’s third lockdown could last into the summer. Italian stocks underperformed and bond yields rose after reports Prime Minister Giuseppe Conte is considering early elections.  Elsewhere, Bitcoin rebounded to trade around $32,000 after earlier tumbling below $30,000.

These are the main moves in markets:
Stocks
* The S&P 500 lost 0.3% by 4 p.m. New York time.
* The Stoxx Europe 600 Index fell 0.6%.
* The MSCI Asia Pacific Index dropped 0.7%.
* The MSCI Emerging Markets Index slipped 1.1%.
Currencies
* The Bloomberg Dollar Spot Index climbed 0.4%.
* The yen was at 103.78 per dollar, dipping 0.3%.
* The euro rose 0.1% to $1.2178.
* The British pound weakened 0.5% to $1.3664.
Bonds
* The yield on 10-year Treasuries fell two basis points to 1.08%.
* Germany’s 10-year yield dipped one basis point to -0.51%.
* The U.K.’s 10-year yield fell one basis point to 0.32%.
Commodities
* West Texas Intermediate crude fell 1.4% to $52.41 a barrel.
* Gold dropped 0.9% to $1,852.94 an ounce.
–With assistance from Robert Brand and Brendan Walsh.
Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann
If you just set out to be liked, you will be prepared to compromise on anything at any time,
and would achieve nothing. -Margaret Thatcher, 1925-2013

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:
Ethan Allen, revolutionary war hero, b.1738.
Christian Dior, designer, b.1905.
1915: Kiwanis International founded.
1981: Ronald Reagan inaugurated as the 40^th President of the United States of America.
On Jan. 21, 1924, the Russian revolutionary Vladimir Ilyich Lenin died at age 53. Go to article »

Scientists make paralyzed mice walk again. (h/t Scott Kominers)
Bernie Sanders is now a meme.

The Trump era in a nutshell. We asked a group of presidential historians to weigh in on Trump’s biggest achievements, his most emblematic moments and to sum up his term in three words. The answers were timely, foreboding and downright relentless. See their picks and tell us yours.-Bloomberg.

The Late Night Hosts weigh in:
“Wow, all right. So that’s what it feels like when you’re not grinding your teeth. I forgot, and I think — yeah, I can see colors again.” — SETH MEYERS

“It’s so nice to have a president with a soul again. The previous one sold his to the devil and didn’t even get Georgia out of the deal.” — STEPHEN COLBERT

“‘Have a good life?’ That’s not a presidential farewell. That’s what your high school crush writes in your yearbook as a final twist of the knife: ‘I guess we won’t be seeing each other with me going to Bryn Mawr and you staying here to chase your kickboxing dreams so, have a good life.’” — SETH MEYERS

“That’s ominous. What form? A Demogorgon? A Horcrux? Maybe he’ll come back as the Stay Puft Marshmallow Man?” — JIMMY KIMMEL

“‘In some form?’ What does that mean? [imitating Trump] ‘Whenever you see a black plastic bag stuck in a tree, or a vulture on the shoulder of the highway pulling the guts out of a dead raccoon, that’ll be me.’” — SETH MEYERS

“Who wrote this speech, Voldemort?” — JIMMY FALLON
PHOTOS OF THE DAY

A child runs towards a dust storm in Mullengudgery, New South Wales, Australia. Dust storms have hit many parts of western New South Wales as a prolonged drought continues.
CREDIT: MARCIA MACMILLAN/AFP/GETTY IMAGES
An Ethiopian Orthodox Christian holds a candle during the celebration of Timkat, the Ethiopian Epiphany, in Gondar, Ethiopia.
CREDIT: EDUARDO SOTERAS/AFP/GETTY IMAGES
A man dressed as a clown is part of hundreds of climate protesters who are on a there-day-protest march from Landquart to Davos pass the city of Klosters, Switzerland
CREDIT: AP PHOTO/MICHAEL PROBST
Central American migrants – mostly Hondurans, travelling on caravan to the US- remain at the international bridge that connects Tecum Uman, Guatemala, with Ciudad Hidalgo, Mexico. Most of the migrants left last Tuesday from Honduras and had arrived Saturday morning at the bridge over the Suchiate River, which forms the border between Guatemala and Mexico to the north.
CREDIT: CARLOS ALONZO / AFP
Market Closes for January 21^st, 2021 

Market Index	Close	Change
Dow Jones	31176.01	-12.37
		-0.04%
S&P 500	3853.07	+1.22
		+0.03%
NASDAQ	13530.915	+73.667 +0.55%
TSX	17916.20	-98.70
		-0.55%

 

 

 

 

 

 

 

 

 

International Markets

Market Index	Close	Change
NIKKEI	28756.86	+233.60
		+0.82%
HANG SENG	29927.76	-34.71
		-0.12%
SENSEX	49624.76	-167.36
		-0.34%
FTSE 100*	6715.42	-24.97 -0.37%

Bonds

Bonds	% Yield	Previous % Yield
CND. 10 Year Bond	0.870	0.826
CND. 30 Year Bond	1.499	1.459
U.S.    10 Year Bond	1.1058	1.0802
U.S. 30 Year Bond	1.8692	1.8296

Currencies

BOC Close	Today	Previous
Canadian $	0.79131	0.79234
US $	1.26373	1.26208
Euro Rate 1 Euro=		Inverse
Canadian $	1.53785	0.65026
US $	1.21692	0.82175

Commodities

Gold	Close	Previous
London Gold Fix	1856.60	1834.70
Oil
WTI Crude Future	53.09	53.24

Market Commentary:
On this day in 1993, just over a year after breaking the 600 mark, the Nasdaq Composite Index broke the 700 barrier, finishing the day at 700.77.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks fell on Thursday, while tech shares led U.S. stocks to all-time highs. The S&P/TSX Composite index fell 0.6% in Toronto. Health care and industrials were the worst performers, while utilities and communication services were the only sectors in the green. Ontario Municipal Employees’ Retirement System almost quadrupled its stock holdings in Asia-Pacific last year and plans to keep boosting its exposure to the fast-growing region over the next several years. The pension manager, known as Omers, deployed almost C$4 billion ($3.17 billion) in the region, up from about C$1 billion.
Commodities
* Western Canadian Select crude oil traded at a $14.00 discount to West Texas Intermediate
* Spot gold was flat around $1,870.48 an ounce
FX/Bonds
* The Canadian dollar was flat around C$1.2630 per U.S. dollar
* The 10-year Canada government bond yield rose 4 basis points to 0.869%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 0.5 percent at 17,916.20 in Toronto. The move was the biggest since falling 0.6 percent on Jan. 11 and follows the previous session’s increase of 0.3 percent. Canadian National Railway Co. contributed the most to the index decline, decreasing 1.7 percent. Canada Goose Holdings Inc. had the largest drop, falling 5.6 percent. Today, 157 of 221 shares fell, while 59 rose; 9 of 11 sectors were lower, led by financials stocks.
Insights
* This month, the index rose 2.8 percent
* So far this week, the index was little changed
* The index advanced 2 percent in the past 52 weeks. The MSCI AC
Americas Index gained 17 percent in the same period
* The S&P/TSX Composite is 0.8 percent below its 52-week high on
Jan. 8, 2021 and 60.4 percent above its low on March 23, 2020
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.4 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of
26.3 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$2.78t
* 30-day price volatility rose to 8.19 percent compared with
8.01 percent in the previous session and the average of 8.60 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -27.6986| -0.5| 10/15
Industrials | -25.0538| -1.1| 8/19
Energy | -15.4262| -0.7| 2/20
Materials | -15.0050| -0.6| 11/41
Information Technology | -11.5945| -0.6| 3/7
Real Estate | -4.4382| -0.8| 2/24
Health Care | -3.1830| -1.2| 1/8
Consumer Discretionary | -2.6152| -0.4| 2/11
Consumer Staples | -0.3158| 0.0| 5/4
Communication Services | 1.4299| 0.2| 5/2
Utilities | 5.2025| 0.6| 10/6
US
By Cecile Gutscher
(Bloomberg) — U.S. stocks eked out a gain to close at a record with tech shares lifting the major indexes on anticipation that more fiscal spending will revive economic
growth and bolster corporate earnings. The dollar weakened. The S&P 500 Index rose a bit omre than one point, while the Nasdaq indexes rose at least 0.5%. Risk appetite has gotten a boost from President Joe Biden’s push for nearly $2 trillion in additional spending and plans to jumpstart a federal response to the pandemic.
Benchmark Treasury yields remained higher after initial jobless claims posted a small decline. U.S. equities remained at records with stretched valuations as earnings continue to roll in. Intel Corp. reported fourth- quarter revenue that topped expectations. Investors continue to bet on another stimulus package from Biden as the president ramps up the federal response to the pandemic. European Central Bank President Christine Lagarde warned the virus continues to pose a serious risk after policy makers voted to keep pumping unprecedented amounts of stimulus into the economy. “High valuations could find justification in the strong recovery that we expect, while inflation assets remain in the affordable zone,” according to Florian Ielpo, head of macroeconomic research andmulti-asset portfolio manager at Unigestion SA. “We therefore see 2021 as a land of investment opportunities.”
Meanwhile, fresh tensions surfaced between U.S. companies and Beijing. China’s three biggest telecommunications firms said they requested a review of the New York Stock Exchange’s decision to delist their shares. Separately, Twitter Inc. locked the official account of the Chinese embassy to the U.S., citing a violation of its “dehumanization” policy. On the virus front, global fatalities hit a daily record, with a U.K. official comparing some hospitals there to a “war zone.”
These are some key events coming up:
* Earnings are due from companies including Schlumberger Ltd. and Yes Bank Ltd.

These are the main moves in markets:
Stocks
* The S&P 500 rose less than 0.1% as of 4 p.m. in New York.
* The Nasdaq 100 Index added 0.8%.
* The Stoxx Europe 600 Index ended flat.
* The MSCI Asia Pacific Index rose 0.7%.
* The MSCI Emerging Market Index gained 0.6%.
Currencies
* The Bloomberg Dollar Spot Index declined 0.2%.
* The euro jumped 0.4% to $1.2158.
* The British pound gained 0.5% to $1.372.
* The onshore yuan was little changed at 6.461 per dollar.
* The Japanese yen was little changed at 103.54 per dollar.
Bonds
* The yield on 10-year Treasuries gained three basis points to 1.11%.
* The yield on two-year Treasuries fell one basis point to 0.12%.
* Germany’s 10-year yield climbed three basis points to -0.496%.
* Japan’s 10-year yield dipped one basis point to 0.043%.
Commodities
* West Texas Intermediate crude declined 0.3% to $53.13 a barrel.
* Brent crude was little changed at $56.11 a barrel.
* Gold futures rose 0.1% to $1,871.90 an ounce.
–With assistance from Michael Msika and Adam Haigh.
Have a great night.

Be magnificent!
As ever,

Carolann

You can’t always get what you want but if you try sometimes
you just might find you get what you need.  -Mick Jagger, b. 1943

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