January 31, 2019 Newsletter

Dear Friends,

Tangents:
On Jan. 31, 1865, the House of Representatives passed a constitutional amendment to abolish slavery.
Go to article »

1940: First social security cheque issued.

PHOTOS OF THE DAY

The sun rises as waves crash against the sea wall in Seaburn, Sunderland. Credit: John Alderson/Pictureexclusive.com

Blenheim Palace is embracing new technology by trying out a new robotic tour guide. ‘Betty’ will be interacting with visitors at the Oxfordshire UNESCO World Heritage Site as part of a five-day trial this week. The robot is greeting visitors in the Great Hall and providing snippets of information about the palace and its history, as well as taking photos with the public and uploading them to social media. Credit: BNPS

Stadium stewards display a portrait of Argentinian forward Emiliano Sala, whose plane disappeared over the Channel Islands over a week prior, in the middle of the pitch before the French football match between Nantes and Saint Etienne at the La Beaujoire stadium in Nantes, western France. Credit: Sebastian Salom Gomis/AFP/Getty Images
Market Closes for January 31^st, 2019

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite rose for the sixth day, climbing 0.4 percent, or 56.05 to 15,540.60 in Toronto. The index advanced to the highest closing level since Oct. 16.
     Barrick Gold Corp. contributed the most to the index gain, increasing 2.5 percent. Eldorado Gold Corp. had the largest increase, rising 27.5 percent.
Today, 150 of 239 shares rose, while 86 fell.
================================================================
Top Contributors |Index Points Move| % Change
================================================================
Barrick Gold | 5.2130| 2.5
Shopify | 5.0930| 3.5
First Quantum Minerals | 4.8120| 6.9
Methanex | -2.2150| -5.3
Canadian Natural Resources | -4.0380| -1.3
Bank of Montreal | -7.0590| -1.6
================================================================
Biggest Gainers | % Change |Index Points Move
================================================================
Eldorado Gold | 27.5| 1.1990
Aphria | 13.5| 2.0810
Ivanhoe Mines | 9.2| 0.9160
================================================================
Biggest Losers | % Change |Index Points Move
================================================================
Methanex | -5.3| -2.2150
Seven Generations Energy | -4.9| -1.0190
NuVista Energy | -4.8| -0.3210
* The benchmark 10-year bond rose and the yield fell 3.6 basis points to 1.877 percent
* The S&P 500 Index advanced 0.9 percent
US
By Reade Pickert
     (Bloomberg) — U.S. stocks rallied to cap their biggest monthly gain in three years as better-than-expected corporate earnings and the Federal Reserve’s dovish turn lifted investor sentiment.
     Technology shares led advances as the S&P 500 Index closed at an eight-week high. General Electric Co. and Facebook Inc. both surged more than 10 percent after traders cheered their quarterly results. Emerging-market shares advanced while Treasury yields fell a day after signals from the Fed that it will be “patient” on interest-rate moves and flexible on reducing its balance sheet.
     “The market is back to being focused on earnings,” Kate Warne, an investment strategist at Edward Jones, said in an interview at Bloomberg’s New York headquarters. “Much of the news has been reassuring and that’s supported rising stocks.”
     The S&P 500 posted its best month since October 2015 after Wednesday’s statement from the Fed helped ease fears that the central bank would continue with plans to tighten policy even in the face of cooling economic data. Outside the earnings realm, investors have an eye on meetings between Chinese negotiators and their counterparts in Washington to resolve the trade dispute. President Donald Trump said discussions are going well but that no deal will be final until he meets with Chinese President Xi Jinping “in the near future.”
     Elsewhere, the pound was steady as the European Union and U.K. appeared on a collision path over Brexit. The Stoxx Europe 600 Index ended little changed after a positive start, with banks among the biggest drags as energy companies rose following strong results from Royal Dutch Shell.
     In Asia, equities in Japan and Hong Kong rallied, while Chinese stocks posted a modest advance.
Among key events in the coming days:
* Meetings between Chinese President Xi Jinping’s top economic aide, Vice Premier Liu He, and U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin continue on Thursday.
* Earnings season rolls on.
* Chinese financial markets will close next week for the Lunar New Year holiday.
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.9 percent, extending the monthly gain to 7.9 percent.
* The Stoxx Europe 600 Index was little changed.
* The MSCI Emerging Market Index jumped 1.3 percent to a four-month high.
* The Nikkei-225 Stock Average rose 1.1 percent.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro slipped 0.3 percent to $1.1444.
* The British pound was little changed at $1.3114.
* The Japanese yen strengthened 0.1 percent to 108.91 per dollar.
Bonds
* The yield on 10-year Treasuries decreased five basis points to 2.63 percent.
* Germany’s 10-year yield declined four basis points to 0.15 percent.
* Britain’s 10-year yield declined four basis points to 1.22 percent.
* Italy’s 10-year yield fell one basis point to 2.58 percent.
Commodities
* West Texas Intermediate crude fell 0.3 percent to $54.02 a barrel.
* Gold was little changed at $1,319.78 an ounce.
–With assistance from Gregor Stuart Hunter, Adam Haigh, Samuel Potter and Yakob Peterseil.

Have a great night.

Be magnificent!

As ever,

Carolann

The scariest moment is just before you start.
                            -Stephen King, b. 1947

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