July 3, 2020 Newsletter

Dear Friends,

Tangents: Happy Friday.  Full moon this weekend!
The next full Moon will occur on Sunday, July 5, 2020, at 12:44AM ET, and is known as the Full Buck Moon. It is also known as the Thunder Moon, Hay Moon, or the Wort Moon.

Battle of Gettysburg, largest battle every fought on the American continent, ends in a major victory for the Union during the US Civil War:
On July 3, 1863, the Civil War Battle of Gettysburg in Pennsylvania ended after three days in a major victory for the North as Confederate troops retreated.  Go to article »

The Golden Gate Bridge’s neighbors have a problem: The bridge fancies itself a singer, but it’s terrible. –The Seattle Times.

PHOTOS OF THE DAY
A field of lavender in Puimoisson, southern France
CREDIT: THE TELEGRAPH, July 3, 2020

A White-naped Crane chick hatched at Birdland, Bourton- on the Water in the Cotswolds.
The birds, native to Mongolia and central Asia, have built their nest on the river Windrush that runs through the park that recently reopened following the pandemic. The vulnerable species has only approximately 5000 individual birds left in the wild, the pair at Birdland are part of a European breeding program.
CREDIT: MIKAL LUDLOW PHOTOGRAPHY

A tourist walking among a lotus pond in Shuangxi districts, in New Taipei City
CREDIT: SAM THE/AFP/GETTY IMAGES
Market Closes for July 3^rd , 2020 

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Canada
By Michael Bellusci
(Bloomberg) — Canadian shares snapped a three-day winning streak and fell Friday amid subdued trading as U.S. markets stayed shut for Independence Day holiday.
The S&P/TSX Composite Index fell 0.2%, with most sectors posting declines for the day. Cannabis stocks were among laggards as Organigram Inc. announced layoffs and said it expects to post a decline in net revenue for the fiscal third quarter. The benchmark still posted a weekly gain.
Oil slipped on Friday, paring a weekly gain, as concern of demand erosion from a coronavirus resurgence countered strong U.S. economic data. Construction on the controversial Keystone XL oil pipeline has begun in Canada, and the premier of the nation’s top oil- producing province says the project’s momentum may make it
difficult for a future U.S. administration to cancel it.
Meanwhile, Prime Minister Justin Trudeau is suspending Canada’s extradition treaty with Hong Kong, making it the first country to break law enforcement links with the former British colony since China tightened its control over the territory.
Commodities
* Western Canada Select crude oil traded at a $9.00 discount to West Texas Intermediate
* Spot gold rose 0.1% to $1,777 an ounce
FX/Bonds
* The Canadian dollar rose 0.1% to C$1.3554 per U.S. dollar
* The 10-year government bond yield edged lower to 0.557%

By Bloomberg Automation:
(Bloomberg) — The S&P/TSX Composite fell 0.2 percent at 15,596.75 in Toronto. The move follows the previous session’s increase of 0.7 percent.
Shopify Inc. contributed the most to the index decline, decreasing 0.7 percent. Ero Copper Corp. had the largest drop, falling 4.6 percent.
Today, 130 of 222 shares fell, while 89 rose; 7 of 11 sectors were lower, led by information technology stocks.
Insights
* So far this week, the index rose 2.7 percent
* The index declined 5.9 percent in the past 52 weeks. The MSCI AC Americas Index gained 3.7 percent in the same period
* The S&P/TSX Composite is 13.2 percent below its 52-week high on Feb. 20, 2020 and 39.6 percent above its low on March 23, 2020
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.5 on a trailing basis and 24.5 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.37t
* 30-day price volatility rose to 19.78 percent compared with 19.76 percent in the previous session and the average of 20.13 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Information Technology | -7.8117| -0.5| 5/5
Industrials | -5.9900| -0.3| 14/14
Financials | -3.6614| -0.1| 9/16
Utilities | -2.2414| -0.3| 6/10
Health Care | -2.1670| -1.3| 2/7
Materials | -1.9724| -0.1| 24/27
Energy | -0.4581| 0.0| 9/14
Real Estate | 0.0000| 2.8| 5/20
Consumer Discretionary | 0.2785| 0.1| 3/10
Communication Services | 1.7064| 0.2| 4/4
Consumer Staples | 1.8574| 0.3| 8/3
US
All US markets were closed today for the Independence Day holiday.
Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

No one is born hating another person because of the color of his skin, or his background, or his religion.
People must learn to hate, and if they can learn to hate, they can be taught to love, for love
comes more naturally to the human heart than its opposite.
                                                                                                   -Nelson Mandela, 1918-2013

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