January 27, 2017 Newsletter

Dear Friends,

Tangents:
Birthday: Wolfgang Amadeus Mozart, January 27^th, 1756.

KINDNESS
    by Naomi Shihab Nye
…Before you know kindness as the deepest thing inside,
you must know sorrow as the other deepest thing.
You must wake up with sorrow.
You must speak to it till your voice
catches the thread of all sorrows
and you see the size of the cloth.
Then it is only kindness that makes sense anymore.
…only kindness that raises its head
from the crowd of the world to say,
“It is I you have been looking for,”
and then goes with you everywhere 
like a shadow or a friend.
PHOTOS OF THE DAY

A man visits Auschwitz-Birkenau at sunrise on the 72nd anniversary of the liberation of the German death camp in Oswiecim, Poland, on Friday. Czarek Sokolowski/AP

Malabon Zoo owner Manny Tangco holds a full-grown, but very small, rooster named ‘Small But Terrible,’ from Malaysia, to compare it with the giant red rooster from France named ‘Mr. Universe’ at the ‘Roosters of the World’ exhibition in Milan celebrating the Chinese Lunar New Year. The exhibition features roosters from many countries, including the United States, Japan, the United Kingdom, France, China, Malaysia, Indonesia, and Poland. Bullit Marquez/AP

A newborn baby wears a chicken costume to celebrate the Chinese New Year of the Rooster at the nursery in Paolo Chockchai 4 Hospital in Bangkok, Thailand, on Friday. Athit Perawongmetha/Reuters
Market Closes for January 27^th, 2017

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Canada
By Michael Bellusci
     (Bloomberg) — Canada S&P/TSX Composite falls 0.4% to 15,558.05 at 1:35pm. Energy, health care, utilities fall while tech rises.
Advancers:
    * Avesoro Resources (ASO CN) +17%; Appointed Hannam & Partners as joint broker
    * Tembec (TMB CN) +12%; Raised to buy at TD; among top ten HY movers; reported 1Q results on Jan. 26
    * Celestica (CLS CN) +12%; 4Q adj. EPS beats highest est.; upgraded at Macquarie
    * RMP Energy (RMP CN) +8.1%; two block trades with shares above 100k
    * Golden Standard (GSV CN) +7.9%; Jan. 23, finds northern extension of north bullion high grade deposit
    * DH Corp (DH CN) +4.6%; Said getting interest from CPPIB, PE firms, according to Reuters
Decliners:
    * Orbite Technologies (ORT CN) -16%; C$10m bought deal via Echelon Wealth
    * Moneta Porcupine Mines (ME CN) -6.5%; 2-day drop
    * NioCorp Developments (NB CN) -5.5%; C$2m non-brokered placement
    * Baytex (BTE CN) -3.7%; Spot WTI crude drops 1.7%
US
By Oliver Renick
     (Bloomberg) — U.S. stocks declined Friday as benchmark indexes slipped from records reached earlier in the week and data showed economic growth slowed more than forecast last quarter.
     The S&P 500 fell less than 0.1 percent to 2,294.69 at 4 p.m. in New York. The benchmark index ended little changed on Thursday, after touching an intraday record. The Dow Jones Industrial Average also fell less than 0.1 percent to 20,093.78 on Friday, after crossing the 20,000 mark for the first time earlier in the week.
     Nearly one-third of S&P 500 companies have reported results so far in the earnings season, with 68 percent beating estimates, according to data compiled by Bloomberg. The current season is “off to a good start” and will confirm that the yearlong earnings recession ended in the third quarter of 2016, JPMorgan equity strategists Emmanuel Cau and Mislav Matejka said in a note.
    * Energy shares lagged, down 0.9% as oil fell for second time this week: down 1.2%
    * Health-care shares led market, rising 0.8%; tech, phone stocks also up at least 0.3%
    * VIX down 0.5% for fourth straight decline
    * U.S. equity funds saw $6.3 billion in investment outflows in the week to Jan. 25 that followed Trump’s inauguration, the largest weekly outflows in four months, according to a Bank of America-Merrill Lynch strategy note, citing EPFR Global data
    * European stocks edged lower on Friday, with the Stoxx Europe 600 Index falling 0.5%, as UBS Group AG paced banks’ first decline in four days
    * S&P 500 EARNINGS:
    ** After-market Friday: none
    ** Pre-market Monday: Enterprise Products Partners (EPD), Affiliated Managers Group (AMG)

Have a wonderful weekend everyone.

Be magnificent!

The very essence of the Hindu Philosophy
is that man is a spirit, and has a body,
and not that man is a body and
may have a spirit also.
Swami Vivekananda

As ever,

Carolann

Peace is our gift to each other.
     -Elie Wiesel, 1928-2016

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
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www.carolannsteinhoff.com