January 15, 2024, Newsletter

Dear Friends,

Tangents: Happy Monday.
January 15, 2009 US Airways Capt. Chelsey Sullenberger guided a jetliner disabled by a bird strike just after takeoff from New York’s LaGuardia Airport to a safe landing in the Hudson River. All 155 people aboard survived.  Go to article >>

January 15, 2001: Wikipedia goes onlint.  The online encyclopedia has since become the largest reference work on the internet.

16943: Pentagon completed.
Martin Luther King Jr., b. 1929.
Jean-Baptiste Moliere, writer, b. 1622

Revealing the lost history of supercontinents
In the twilight of the Cretaceous, 86 million years ago, a volcanic fissure in what is now South Africa rumbled to life. Below the surface, magma from hundreds of miles down shot upward as fast as a car on the autobahn — if that car were barreling through solid rock — chewing up rocks and minerals and carrying them toward the surface in a reverse avalanche.
What this looked like on the surface is lost to history, but it may have been as dramatic as the eruption of Mount Vesuvius. What it left behind was a series of carrot-shaped, igneous-rock-filled tubes under low, weathered white hills — and diamonds.
Formations like this are sprinkled across the globe, from Ukraine to Siberia to Western Australia, but they’re relatively small and rare. Only now are we starting to discover that there is more to these “kimberlites” than precious stones — there is a tantalizing link between diamond-spewing eruptions and the destruction of supercontinents. Read More.

Columbia, Rodinia and Pangaea: A history of Earth’s supercontinents
Scientists have identified three definitive supercontinents in Earth’s history and predict the landmasses we live on today will come together again in the future.  Full Story: Live Science (1/15)

Listen to diamonds erupting from deep within Earth
Diamonds erupt from the deep as supercontinents break up. Now you can listen to the “song” of these kimberlite eruptions.  Full Story: Live Science (1/12)

Anglo-Saxon teen girl buried with lavish jewelry
Archaeologists in England have discovered the remains of a teenager and child buried in a spooning position in an Anglo-Saxon cemetery dating to the sixth or seventh century A.D. Read More.

Cosmic corkscrew defies our understanding of the universe
Astronomers have discovered a cosmic “ring” that’s so enormous, it defies explanation with our best theories of the universe. Read More.

NASA finally opens capsule containing asteroid sample
Two tight fasteners kept the majority of the Bennu asteroid sample from scientists since it returned to Earth in September. Now they’ve finally prised it open. Read More

Look back at Martin Luther King Jr.’s extraordinary life

PHOTOS OF THE DAY

California, US
A ski lift in operation as crowds flock to Sierra at Tahoe ski resort near Lake Tahoe
Photograph: Tayfun Coskun/Anadolu/Getty Images

Margarita Island, Venezuela
A couple walk close to the shore along El Yaque beach
Photograph: Matias Delacroix/AP

Yinchuan, China
Competitors take part in an ice dragon boat race at Yuehai Park in Ningxia Hui autonomous region
Photograph: VCG/Getty Images
Market Closes for January 15^th, 2024

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Some people get rich studying artificial intelligence.  Me, I make money studying natural stupidity. -Carl Icahn
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.3%, or 71.66 to 21,061.88 in Toronto.
Toronto-Dominion Bank contributed the most to the index gain, increasing 1.2%.
Denison Mines Corp. had the largest increase, rising 6.1%.
Today, 143 of 225 shares rose, while 75 fell; 9 of 11 sectors were higher, led by energy stocks.
Insights
* The index advanced 3.4% in the past 52 weeks. The MSCI AC Americas Index gained 19% in the same period
* The S&P/TSX Composite is 0.4% below its 52-week high on Jan. 12, 2024 and 12.7% above its low on Oct. 27, 2023
* The S&P/TSX Composite is little changed in the past 5 days and rose 2.6% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 16.5 on a trailing basis and 15.3 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.32t
* 30-day price volatility fell to 10.77% compared with 10.84% in the previous session and the average of 10.79% over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 28.8318| 0.8| 35/5
Financials | 21.8594| 0.3| 18/8
Utilities | 9.4138| 1.1| 15/0
Communication Services | 8.8853| 1.1| 4/1
Consumer Staples | 5.2535| 0.6| 9/1
Information Technology | 2.8767| 0.2| 5/5
Real Estate | 1.9786| 0.4| 14/5
Industrials | 1.4165| 0.0| 13/13
Health Care | 0.7070| 1.1| 3/1
Consumer Discretionary | -1.6964| -0.2| 7/6
Materials | -7.8817| -0.3| 20/30
================================================================
| | |Volume VS | YTD
| Index | | 20D AVG | Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
TD Bank | 12.6500| 1.2| -45.4| -4.8
Canadian Natural Resources | 8.1070| 1.2| -70.8| 1.9
Constellation Software | 6.3160| 1.3| -55.1| 10.1
Restaurant Brands | -2.2690| -1.0| -84.4| 0.6
Canadian National | -2.4890| -0.4| -73.2| 1.2
Nutrien | -4.0120| -1.7| -48.4| -9.5
US
US markets were closed today for Martin Luther King Jr. Day.

Have a lovely evening.

Be magnificent!
As ever,

Carolann
In the end, we will remember not the words of our enemies, but the silence of our friends. –Martin Luther King Jr., 1929-1968.

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