July 4, 2017 Newsletter
Dear Friends,
Tangents:
Carolann is out of the office this afternoon, I will be writing the newsletter on her behalf.
PHOTOS OF THE DAY
The Red Arrows perform for the Wales Air show in Swansea Bay. A record-breaking crowd of 250,000 was thought to have attended the two-day event. Before the show opened, organizers warned the use of drones was “strictly prohibited”.
CREDIT: DIMITRIS LEGAKIS/ATHENA PICTURES
Male giant panda twin cubs, born to mother Zhizhi at the Chengdu Research Base of Giant Panda Breeding in China, on April 24, are doing well.
CREDIT: LOLA LEVAN/EPA
Market Closes for July 4th, 2017
| Market
Index |
Close | Change |
| Dow
Jones |
21479.27 | Closed
|
| S&P 500 | 2429.01 | Closed
|
| NASDAQ | 6140.422 | Closed
|
| TSX | 15130.61 | -51.58
|
| -0.34% |
International Markets
| Market
Index |
Close | Change |
| NIKKEI | 20032.35 | -23.45 |
| -0.12% | ||
| HANG
SENG |
25389.01 | -395.16 |
| -1.53% | ||
| SENSEX | 31209.79 | -11.83 |
| -0.04% | ||
| FTSE 100* | 7357.23 | -19.86 |
| -0.27% |
Bonds
| Bonds | % Yield | Previous % Yield | |||
| CND.
10 Year Bond |
1.838 | 1.772 | |||
| CND.
30 Year Bond |
2.193 | 2.149 | |||
| U.S.
10 Year Bond |
2.3499 | 2.2984 | |||
| U.S.
30 Year Bond |
2.8669 | 2.8309 |
Currencies
| BOC Close | Today | Previous |
| Canadian $ | 0.77305 | 0.76877 |
| US
$ |
1.29358 | 1.30077 |
| Euro Rate
1 Euro= |
Inverse | |
| Canadian $ | 1.46790 | 0.68124 |
| US
$ |
1.13476 | 0.88125 |
Commodities
| Gold | Close | Previous |
| London Gold
Fix |
1223.75 | 1242.25 |
| Oil | Close | Previous |
| WTI Crude Future | 47.07 | 46.04 |
Market Commentary:
Canada
By Natalie Wong
(Bloomberg) — Canadian stocks fell, with losses in materials and technology shares offsetting a slight gain in financials amid low trading volume.
The S&P/TSX Composite Index dropped 0.3 percent to 15,130.61 Tuesday, when U.S. markets were closed for Independence Day. Materials fell 1.6 percent as rising U.S. interest rates and equities tarnish silver, pushing down prices of the precious metal. Pan American Silver Corp. fell 4.2 percent and First Majestic Silver Corp. dropped 6.1 percent.
Gold stocks declined as Tanzania approved two laws that enable the government to renegotiate contracts with mining and energy companies to boost revenue. Barrick Gold Corp. fell 3 percent and Goldcorp Inc. lost 3.1 percent.
Tech stocks fell 1.7 percent as all companies on the index declined. Kinaxis Inc. lost 2.6 percent and Shopify Inc. dropped 2.3 percent.
In other moves:
* Financials were little changed as the Bank of Montreal rose 0.6 percent and Canadian Imperial Bank of Commerce gained 0.7 percent, offsetting declines in Brookfield Asset Management Inc. and Manulife Financial Corp.
* NexGen Energy Ltd. rose 5.2 percent, extending Friday’s gain after Hong Kong billionaire Li Ka-shing doubled down on his investment in the Canadian uranium explorer
* Health care stocks dropped 1.3 percent as Valeant Pharmaceuticals International Inc. fell 2.7 percent and Knight Therapeutics Inc. declined 1.1 percent
US
US markets are closed today.
Have a wonderful evening everyone.
Be magnificent!
“It is our attitude at the beginning of a difficult task which, more than anything else, will affect It’s successful outcome.”
-William James
As ever,
Karen
“I feel that there is nothing more truly artistic than to love people.” Vincent Van Gogh
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
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com