July 20, 2021 Newsletter

Dear Friends,

Tangents: Moon Day ~ first human on the moon.

On July 20, 1969, astronaut Neil Armstrong became the first man to walk on the moon.  Go to article »

Rocket Rides and Skyscrapers Allow the Rich to Keep Rising: Space tourism follows a long tradition of the wealthy seeking higher altitudes.

Selling Your Used Car? You Could Turn a Profit: Normally a depreciating asset, some used cars are worth more now than they were new.

Another billionaire in space: Jeff Bezos went up, then came down

PHOTOS OF THE DAY

Mark Bezos, brother of Jeff Bezos; Jeff Bezos, founder of Amazon and space tourism company Blue Origin; Oliver Daemen, of the Netherlands; and Wally Funk, aviation pioneer from Texas
CREDIT: BLUE ORIGIN VIA AP

The New Shepard Blue Origin rocket lifts-off from the launch pad carrying Jeff Bezos along with his brother Mark Bezos, 18-year-old Oliver Daemen, and 82-year-old Wally Funk prepare to launch in Van Horn, Texas
CREDIT: JOE RAEDLE/GETTY IMAGES

Dolphin breach in New Quay, Ceredigion, West Wales) Playful dolphins have been caught on camera as they jump out of the ocean. Sarah Wyer, from New Quay, Ceredigion, West Wales, captured these images of dolphins as they impressively leapt out of the water
CREDIT: SARAH MICHELLE WYER / CATERS NEWS AGENCY

Swan Upping, the annual census of the swan population on the River Thames. The boats pass though one of the many locks between Windsor and Cookham. The swans are counted, weighed and measured
CREDIT: GEOFF RIGH FOR THE TELEGRAPH

Market Closes for July 20^th, 2021

International Markets

Bonds

Currencies

Commodities

Market Commentary:
If you want to be wealthy, live below your means.-Paul Merriman.
Canada
Aoyon Ashraf
(Bloomberg) — Canadian equity markets gained on Tuesday as investors bought the recent dips in stocks, led by health care companies. The S&P/TSX Composite index rose 1.1%, after falling 1.3% on Monday.  All of the sectors were in the green, with health care and tech stocks leading the outperformance. In the oil patch, seven Canadian natural gas producers are teaming up with a West Coast Indigenous group to propose a new liquefied natural gas facility for British Columbia’s coastal waters, after years of failed industry efforts to make such projects a reality.
Commodities:
* Western Canadian Select crude oil traded at a $13.60 discount to West Texas Intermediate
* Spot gold fell 0.1% to $1,810.41 an ounce
FX/ Bonds:
* The Canadian dollar rose C$1.2677 per U.S. dollar
* The 10-year Canada government bond yield rose to 1.170%

By Bloomberg Automation:
     (Bloomberg) — The S&P/TSX Composite is rising 1.2 percent at 19,969.12 in Toronto. In midday trading, financials stocks led the market higher, as all sectors gained; 206 of 231 shares rose, while 22 fell. Shopify Inc. contributed the most to the index gain, increasing 2.6 percent. Air Canada had the largest increase, rising 6.5 percent.
Insights
* In the past year, the index had a similar or greater gain 11 times. The next day, it advanced six times for an average 0.5 percent and declined five times for an average 0.8 percent
* This month, the index fell 1 percent, heading for the biggest decline since October 2020
* The index advanced 23 percent in the past 52 weeks. The MSCI AC Americas Index gained 34 percent in the same period
* The S&P/TSX Composite is 2 percent below its 52-week high on July 7, 2021 and 29.5 percent above its low on Oct. 30, 2020
* The S&P/TSX Composite is down 1.5 percent in the past 5 days and was little changed in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 23 on a trailing basis and 16.4 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$3.1t
* 30-day price volatility rose to 9.24 percent compared with 8.42 percent in the previous session and the average of 7.44 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Financials | 62.0170| 1.0| 27/1
* Information Technology | 53.5338| 2.3| 12/0
* Industrials | 33.5038| 1.5| 29/1
* Materials | 29.3999| 1.3| 44/8
* Energy | 19.6130| 0.8| 18/4
* Consumer Discretionary | 17.9826| 2.4| 13/0
* Real Estate | 10.8454| 1.6| 26/0
* Consumer Staples | 7.4612| 1.0| 12/1
* Health Care | 4.8987| 2.0| 9/1
* Utilities | 2.4341| 0.3| 11/5
* Communication Services | 1.9462| 0.2| 5/1
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
* Shopify | 38.1800| 2.6| 37.4| 33.8
* Brookfield Asset | | | |
* Management | 11.8100| 2.0| 17.4| 19.3
* Bank of Nova Scotia| 8.1850| 1.3| -47.0| 13.0
* Inter Pipeline | -0.4480| -0.7| 25.4| 70.9
* Enbridge | -0.9860| -0.2| 61.1| 18.3
* TC Energy | -1.6670| -0.4| 25.3| 16.0

US
By Rita Nazareth and Vildana Hajric
(Bloomberg) — Dip buyers emerged a day after a tumultuous trading session, driving U.S. stocks to their biggest advance since March. The S&P 500 almost erased its Monday’s slide as traders shrugged off concern that the coronavirus resurgence would curtail the economic recovery.  Cyclical companies, which got pummeled during the selloff, were the ones leading gains on Tuesday. A gauge of small caps climbed 3%. For several investors, the recent rout was just another buying opportunity in an environment of solid corporate earnings, government stimulus and ultra-easy monetary policy. “Pretty amazing rebound, really,” said JJ Kinahan, chief market strategist at TD Ameritrade.  “That buy-the-dip mentality has played well. It’s like a football coach that runs the same play that keeps working. There’s no reason to change that play.  It’s certainly working again.” In fact, it was during Monday’s selloff that BNY Mellon Wealth Management’s Alicia Levine said she got out her “shopping list.” Levine said in a Bloomberg TV and Radio interview that she remains “very bullish.”
For Bill Callahan, an investment strategist at Schroders, “equities just make sense right now,” and dip buyers will be rewarded as the market continues to grind higher. On the economic front, data showed U.S. housing starts increased in June by more than forecast, suggesting residential construction is stabilizing despite lingering supply-chain constraints and labor shortages. After the close of regular trading, Netflix Inc. forecast sluggish subscriber gains for the third quarter, raising concern that the streaming leader’s rapid growth may be ebbing.

Some key events to watch this week:
* European Central Bank rate decision Thursday
* Bank Indonesia rate decision Thursday
* U.S. existing home sales Thursday
* The Tokyo Summer Olympics begin Friday

Here are some of the main market moves:
Stocks
* The S&P 500 rose 1.5% as of 4 p.m. New York time
* The Nasdaq 100 rose 1.2%
* The Dow Jones Industrial Average rose 1.6%
* The MSCI World index rose 0.9%
* The Russell 2000 Index rose 3%
Currencies
* The Bloomberg Dollar Spot Index was little changed
* The euro fell 0.2% to $1.1782
* The British pound fell 0.3% to $1.3631
* The Japanese yen fell 0.3% to 109.84 per dollar
Bonds
* The yield on 10-year Treasuries advanced three basis points to 1.22%
* Germany’s 10-year yield declined two basis points to -0.41%
* Britain’s 10-year yield was little changed at 0.56%
Commodities
* West Texas Intermediate crude rose 1.5% to $67.42 a barrel
* Gold futures were little changed
–With assistance from Andreea Papuc, Robert Brand, Claire Ballentine and Natalia Kniazhevich.
Have a lovely evening.

Be magnificent!

As ever,

Carolann

Nothing can resist a will which will stake even existence upon its fulfillment. –Benjamin Disraeli, 1804-1881.

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