December 30, 2021 Newsletter

Dear Friends,

Tangents:

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

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

Market Closes for December 30^th, 2021

International Markets

Bonds

Currencies

Commodities

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

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

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

Be magnificent!

As ever,

Isabel

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

Assistant to Carolann Steinhoff,

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

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