June 13, 2019 Newsletter

Dear Friends,

Tangents:
William Butler Yates, poet, b. 1865
“And say my glory was I had such friends.” –William Butler Yeats

THE LAKE ISLE OF INNISFREE
 I will arise and go now, and go to Innisfree,
And a small cabin build there, of clay and wattles made:
Nine bean-rows will I have there, a hive for the honey-bee,
And live alone in the bee-loud glade.

And I shall have some peace there, for peace comes dropping slow,
Dropping from the veils of the morning to where the cricket sings;
There midnight’s all a glimmer, and noon a purple glow,
And evening full of the linnet’s wings.

I will arise and go now, for always night and day
I hear lake water lapping with low sounds by the shore;
While I stand on the roadway, or on the pavements grey,
I hear it in the deep heart’s core.

                                            ~William Butler Yeats

On June 13, 1966, the Supreme Court issued its landmark Miranda vs. Arizona decision, ruling that criminal suspects must be informed of their constitutional rights prior to questioning by police.
Go to article »
-from today’s New York Times:

 Just What the doctor Ordered
Getting outside has been linked to multiple health benefits, and nature prescriptions from doctors are on the rise. But researchers have now quantified the ideal amount of time needed to reap those benefits: 120 minutes a week.

A British study examined data from nearly 20,000 people for two years and found that those who spent two hours a week or more outdoors reported being in better health and having a greater sense of well-being than people who didn’t get out at all.

PHOTOS OF THE DAY

Wave crash against the pier wall at Seaham Lighthouse near Durham as weather warning are in place across the UK as torrential rain continues for another day.
CREDIT: OWEN HUMPHREYS/PA

The afternoon violence in Hong Kong marks a major escalation in the semi-autonomous Chinese territory’s biggest political crisis in years
CREDIT: ANTHONY WALLACE/AFP.GETTY IMAGES

Bo Peep, Woody and Forky characters are seen at the premiere for “Toy Story 4”in Los Angeles, USA
CREDIT: MARIO ANZUONI/REUTERS
Market Closes for June 13th, 2019

International Markets

Bonds

Currencies

Commodities

Market Commentary:
On this day in 1991, the New York Stock Exchange began after-hours trading for the first time, as two “crossing sessions” of trades among institutional investors extended the trading day to 5:15 p.m.
Canada
By Bloomberg Automation
     (Bloomberg) — The S&P/TSX Composite advanced slightly to 16,239.26 in Toronto. The move follows the previous session’s decrease of 0.1 percent.
     Today, consumer discretionary stocks led the market higher, as 6 of 11 sectors gained; 163 of 242 shares rose, while 74 fell. Dollarama Inc. contributed the most to the index gain, increasing 11.3 percent. MEG Energy Corp. had the largest increase, rising 12.3 percent.
Insights
* So far this week, the index was little changed
* This quarter, the index rose 0.9 percent
* The index was little changed in the past 52 weeks. The MSCI AC Americas Index gained 3.9 percent in the same period
* The S&P/TSX Composite is 2.6 percent below its 52-week high on April 23, 2019 and 17.9 percent above its low on Dec. 24, 2018
* The S&P/TSX Composite was little changed in the past 5 days and rose 0.3 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 17.4 on a trailing basis and 14.9 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.1 percent on a trailing 12-month basis 
* S&P/TSX Composite’s members have a total market capitalization of C$2.51 trillion
* 30-day price volatility fell to 8.09 percent compared with 8.23 percent in the previous session and the average of 7.56 percent over the past month. 

================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Consumer Discretionary | 16.4272| 2.5| 16/1
Energy | 16.0646| 0.6| 30/10
Materials | 13.3804| 0.8| 43/5
Financials | 12.2202| 0.2| 17/8
Real Estate | 2.2307| 0.4| 22/2
Utilities | 0.3135| 0.0| 7/8
Information Technology | -2.9714| -0.4| 4/6
Industrials | -3.2743| -0.2| 17/13
Consumer Staples | -5.4267| -0.8| 6/4
Health Care | -6.5074| -2.0| 1/10
Communication Services | -30.4313| -3.2| 0/7
To see other sector information, click here.
================================================================
| | |Volume VS| YTD
| Index | | 20D AVG | Change
Top Contributors |Points Move|% Change | (%) | (%)
================================================================
Dollarama | 9.8810| 11.3| 198.3| 44.7
Royal Bank of Canada | 6.8650| 0.7| -11.5| 10.3
Suncor Energy | 3.3940| 0.7| -10.4| 8.3
Rogers Communications | -5.0520| -2.8| 75.0| -1.1
Couche-Tard | -5.3390| -2.0| 35.5| 26.4
Telus | -5.8270| -2.7| 116.5| 7.8
NOTE: Stocks trading ex-dividend today are not included in the table.
================================================================
| | Index | Volume VS |YTD Change
Biggest Gainers | % Change |Points Move|20D AVG (%)| (%)
================================================================
MEG Energy | 12.3| 0.9970| 124.0| -33.6
Dollarama | 11.3| 9.8810| 198.3| 44.7
Alacer Gold | 10.2| 0.7970| 126.3| 62.7
================================================================
| |Index Points| Volume VS |YTD Change
Biggest Losers | % Change | Move |20D AVG (%)| (%)
================================================================
HEXO Corp | -8.4| -1.0990| 191.6| 65.8
CannTrust | -4.2| -0.2520| -18.1| 1.7
Cronos Group | -4.0| -1.0760| -19.0| 51.8
NOTE: Stocks trading ex-dividend today are not included in the table.
* The benchmark 10-year bond rose and the yield fell 4.1 basis points to 1.456 percent
* The S&P 500 Index advanced 0.4 percent
US
By Vildana Hajric
     (Bloomberg) — U.S. equities halted a two-day slide while Treasuries rose as investors assessed the likelihood for interest-rate cuts. Oil rallied on escalating Middle East tensions.
     The S&P 500 Index reached a five-week high as a surprise increase in U.S. jobless claims supported the idea the Federal Reserve may take a dovish turn. The Stoxx Europe 600 Index had opened in the red following declines across Asia, but reversed course to post a small advance. Plenty of caution remained, however, buoying government bonds and gold. Oil jumped as much as 4.5%, the most since January, after two tankers were damaged in suspected attacks near the Persian Gulf. The U.S. blamed Iran.
     Investors are doing their best to stay upbeat amid the daily drumbeat of headlines pointing at political tensions around the globe. The tanker incident follows other attacks in the region last month, and comes as tensions simmer in Hong Kong following Wednesday’s clashes between police and protesters.
     Meanwhile, the trade dispute between the U.S. and China remains unresolved. The hope for many traders is a newly dovish Fed can help blunt some of these threats. “The market right now is hyper-focused on what the Fed is going to do,” said Shawn Cruz, manager of trader strategy at TD Ameritrade. “Equity markets are pricing in a cut next week. If we don’t get that, you could see us pull back.”
     Elsewhere, the Australian dollar declined and the three- year yield dropped below 1% for the first time after the unemployment rate rose more than expected. Emerging-market shares retreated for a second day.
Here are some key events coming up:
* Euro-area finance ministers meet in Luxembourg Thursday. On the agenda: financial penalties for Italy over its debt load, and the euro-area budget.
* China and the U.S. release industrial production and retail sales data Friday.
And these are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.4% at the close of trading in New York.
* The Stoxx Europe 600 Index gained 0.2%.
* The MSCI Emerging Market Index decreased 0.4%.
* The MSCI Asia Pacific Index sank 0.4%.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro weakened 0.1% to $1.1274.
* The British pound slipped 0.1% to $1.2677.
* The Japanese yen gained 0.1% to 108.36 per dollar.
Bonds
* The yield on 10-year Treasuries fell three basis points to 2.09%.
* Germany’s 10-year yield was little changed at -0.24%.
* Britain’s 10-year yield fell three basis points to 0.83%.
Commodities
* West Texas Intermediate crude gained 2.2% to $52.25 a barrel.
* Gold increased 0.6% to $1,341.04 an ounce.
–With assistance from Adam Haigh, Sheldon Reback, Samuel Potter and Yakob Peterseil.

Have a great night.
Be magnificent!
As ever,

Carolann

A man who limits his interest, limits his life.

                       -Vincent Price, 1911-1993

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