December 29, 2016 Newsletter

Dear Friends,

Tangents:

Gandhi’s Seven Deadly Sins

Wealth without Work
            Pleasure without Conscience
                     Science without Humanity
                                Knowledge without Character
                                            Politics without Principle
                                                 Commerce without Morality
                                                             Worship without Sacrifice.
PHOTOS FROM 2016

Susan Roberts (3rd from r.) is one of the ‘Posh Poppies of Peterborough,’ a senior women’s social group in Britain (hence the purple clothes and red hats). She said in April that she would vote to leave the European Union. Melanie Stetson Freeman/Staff

Donald Trump’s wife, Melania (r.), and the couple’s son, Barron, listen to Mr. Trump address the audience at the Republican National Convention in Cleveland on July 21. Ann Hermes/Staff

Democratic presidential candidate Hillary Clinton holds a town hall meeting at Manchester (N.H.) Community College on Oct. 5. She spoke out for gun control in the wake of a mass shooting at a community college in Oregon. Alfredo Sosa/Staff
Market Closes for December 29^th, 2016

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Canada
By Joseph Ciolli
     (Bloomberg) — Canadian stocks increased for an eighth time in nine sessions, with commodity producers leading gains as gold prices rose and oil traded near the highest close in 18 months.
     The S&P/TSX Composite Index added 0.2 percent to 15,388.94 at 1:12 p.m. in Toronto, extending a rally that has propelled the benchmark gauge toward its sixth straight monthly advance and tenth in eleven. Raw-material producers paced the gain Thursday, rising 3.4 percent, while health-care and financial stocks declined.
     In other moves:
* Guyana Goldfields Inc., Asanko Gold Inc. and Alamos Gold Inc. were the three biggest gainers in the benchmark index as gold prices climbed 0.9%, the most since Nov. 2.
US
By Oliver Renick
     (Bloomberg) — U.S. stocks ended the session little changed as filings for U.S. unemployment benefits fell for a third week in the last four and a rally in utility shares offset losses in financial companies.
     The S&P 500 Index was little changed at 2,249.26 at 4 p.m. in New York after declining the most since October on Wednesday. The Dow Jones Industrial Average slipped 13.9 points to 19,819.78, falling further from the 20,000 milestone it’s hovered near this month.
* Dividend-payers continue to lead market in the past five days
* Utility shares gain 1.3%; group is up 5.2% this month
* Real estate stocks add 0.9%
* Financial and tech stocks lag, down 0.7% and less than 0.1%, respectively
* Jobless claims declined by 10,000 to 265,000 in the week ended Dec. 24 from a six-month high in the prior period, Labor Department data showed Thursday
* The VIX rose for a fifth day, jumping 3.2% in its longest streak of increases since early November
* The S&P 500 is on track for the first yearly advance since 2014, up 10% for the year
* EARNINGS: no earnings on calendar

Have a wonderful evening everyone.

Be magnificent!

All the responsibility of good and evil is on you.  This is the great hope.
What I have done, that I can undo.
Swami Vivekananda

As ever,

Carolann

Many receive advice, only the wise profit from it.
                                 -Harper Lee, 1926-2016

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Portfolio Manager &
Senior Vice-President

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