December 6th, 2019 Newsletter

Dear Friends,

Tangents: Happy Friday!

St. Nicholas Day, Europe.
1865: 13^th Amendment ratified, slavery abolished.

“The majority of people didn’t wake up one day and go, ‘Let’s free the slaves.’  The majority of people didn’t wake up one day and say,  ‘Let’s give women the right to vote.’  It’s because a small group of people usually considered outrageous radicals by the status quo of their day had a better idea.  That’s how evolution works.” -Marianne Williamson.

1861~James Naismith, the inventor of basketball, was born in Ontario, Canada. Go to article »

PHOTOS OF THE DAY

The pagan tradition of Winter transitioning to Summer is told through the story of two kings. The Holly (Winter) and the Oak (Summer) fighting it out as they weave through village streets with flaming swords in Dunster, North Exmoor.
CREDIT: RUSSELL SACH FOR THE TELEGRAPH

The boys choir singing carols during the official tree lighting at Winchester Cathedral.
CREDIT: RUSSELL SACH FOR THE TELEGRAPH

In current ownership since 1965 and regarded as the ‘Missing Lightweight’, this 1961 Aston Martin DB4GT ‘Lightweight’ Sports Saloon is up for auction at Bonhams Fine CollectorsTM Motor Cars sale at Bonhams, New Bond Street London.
CREDIT: ELLIOT FRANKS

Swans in the red sunrise in Bosham, West, Sussex.
CREDIT: JESS JONES/SOLENT NEWS & PHOTO AGENCY

Market Closes for December 06^th, 2019  

International Markets

Bonds

Currencies

Commodities

Market Commentary:
On this day in 1877, while turning a crank and hollering “Mary had a little lamb,” Thomas Edison made the world’s first recording of a human voice. When one of Mr. Edison’s technical assistants, John Kruesi, played back the recording, he cried in astonishment, “Gott in Himmel! (God in Heaven!)”

Canada
By Kristine Owram
(Bloomberg) — Canadian stocks posted their biggest increase since August, joining a global rally prompted by U.S. jobs gains that sent the unemployment rate there to a half- century low. The S&P/TSX Composite Index rose 0.8% to 16,996.97. Energy stocks led the way, adding 2.5% to the highest since September as crude prices jumped following a surprise supply cut from Saudi Arabia. Meanwhile, the Canadian dollar fell the most in more than two months after the number of jobs in the domestic economy narrowed the most since 2009.
Commodities
* Western Canada Select crude oil traded at a $20.00 discount to WTI
* Spot gold fell 1.3% to $1,464.40 an ounce
FX/Bonds
* The Canadian dollar weakened 0.6% to C$1.3260 per U.S. dollar
* The 10-year government bond yield fell 3 basis points to 1.58%

================================================================
|Index Points | |Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 67.9794| 2.5| 30/1
Financials | 27.8837| 0.5| 19/6
Industrials | 25.2495| 1.3| 24/8
Consumer Staples | 8.4638| 1.2| 10/0
Communication Services | 8.2627| 0.9| 6/1
Information Technology | 4.9089| 0.5| 7/2
Consumer Discretionary | 3.8029| 0.5| 11/5
Utilities | 2.9788| 0.4| 10/6
Health Care | 1.7869| 0.8| 8/1
Real Estate | -0.2415| 0.0| 11/13
Materials | -9.0391| -0.5| 15/33

US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Stocks rallied around the globe and Treasuries fell as better-than-expected data bolstered confidence in the world’s largest economy. The S&P 500 Index extended its advance into a third day
after reports showed payrolls jumped 266,000 — the most since January — as wages beat estimates while consumer sentiment increased. Energy, financial and industrial shares led gains in the equity gauge, which posted its biggest rally in five weeks. The dollar rose, and Treasury 10-year yields traded above 1.8%. Oil surged. Investors pushed up the value of risk assets on the assumption that the American economy isn’t close to signaling a recession — a fear that’s been lurking amid a trade war. While negotiators are near phase one of a broader accord and “progress has been made,” they haven’t yet put anything in writing, said White House economic adviser Larry Kudlow. Strong economic reports may reduce the urgency for a deal, given that escalating levies have failed to significantly dent growth. They also validate Federal Reserve Chairman Jerome Powell’s view that rates can stay on hold after three cuts. “For the equity market, it provides some encouragement that the U.S. is certainly not heading for a hard landing,” said James McCann, senior global economist at Aberdeen Standard Investments. “As we head into next year, the prospect for earnings still remains pretty healthy based on a still well- supported consumer backdrop.”
Stocks got whipsawed this week on conflicting signs of progress in trade negotiations between the world’s two largest economies. China said Friday it’s in the process of waiving retaliatory tariffs on imports of U.S. pork and soy by domestic companies — a procedural step that may also signal a broader trade agreement is drawing closer. President Donald Trump has threatened to impose tariffs on Chinese imports if an accord isn’t reached by Dec. 15, which Kudlow said could still happen. Elsewhere, oil climbed as Saudi Arabia surprised the market by promising significant additional production cuts beyond what was agreed with fellow OPEC+ members. The euro fell after data showed Germany’s industrial slump unexpectedly deepened in October.
Some corporate highlights:
* Apple Inc. jumped to a record high.
* Big Lots Inc. soared on its bullish view for next year.
* Ulta Beauty Inc. surged after delivering what analysts called “better-than-feared” results.
* Ciena Corp. tumbled after UBS recommended selling the stock ahead of next week’s earnings.

These are some of the main moves in markets:

Stocks
* The S&P 500 climbed 0.9% to 3,145.90 at 4 p.m. New York time.
* The Stoxx Europe 600 Index increased 1.2%.
* The MSCI Asia Pacific Index rose 0.5%.
Currencies
* The Bloomberg Dollar Spot Index added 0.1%.
* The euro dipped 0.4% to $1.106.
* The Japanese yen appreciated 0.2% to 108.57 per dollar.
Bonds
* The yield on 10-year Treasuries rose three basis points to 1.84%.
* Germany’s 10-year yield climbed one basis point to -0.29%.
* Britain’s 10-year yield fell less than one basis point to 0.772%.
Commodities
* The Bloomberg Commodity Index climbed 0.2%.
* West Texas Intermediate crude climbed to $59.20 a barrel.
* Gold declined 1.2% to $1,465.10 an ounce.
–With assistance from Cormac Mullen, Eddie van der Walt, Sam Potter and Yakob Peterseil.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

Success is the child of drudgery and perseverance.  It cannot be coaxed
or bribed; pay the price and it is yours.
                                                   -Orison Swett Marden, 1848-1924

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