June 19, 2024, Newsletter

Dear Friends,

Tangents: Juneteenth.
June 19, 1862: Slavery was outlawed in U.S. territories.
June 19, 1964: The U.S. Senate passed the Civil Rights Act of 1964, a landmark legislation that prohibits discrimination based on race, colour, religion, sex, or national origin.

Blaise Pascal, philosopher, b. 1623.
Elbert Hubbard, writer, b.1856.Aung San Sung, peace activist, b.1945.
Salmon Rushdie, writer, b.1947.

Newly deciphered papyrus describes ‘miracle’ performed by 5-year-old Jesus
A manuscript written in the fourth or fifth century describes how Jesus brought clay birds to life as a child. Read More.

Ming dynasty shipwrecks hide a treasure trove of artifacts in the South China Sea, excavation reveals
Researchers have retrieved hundreds of artifacts, including porcelain items, copper coins and ornate pieces of pottery. Read More.

James Webb telescope reveals long-studied baby star is actually ‘twins’ — and they’re throwing identical tantrums
New observations from the James Webb Space Telescope revealed that a distant protostar is actually a pair of baby binary stars that are spitting out parallel energy jets as they gobble up giant disks of gas and dust. Read More.

Aliens, artists or pranksters? Another ‘mysterious’ monolith appears
A shiny silver pillar was spotted by the Las Vegas Metropolitan Police Department prompting theories about its origins.

PHOTOS OF THE DAY

Yonne, France
‘We were at the municipal campsite in the village of Toucy. In the early evening we took a stroll around the nearby lake. It was surrounded by lovely trees. Then a small family group came into view on the opposite bank, their chatter and laughter carried in the still, calm air.’
Photograph: Noel Boardman

County Down, UK
‘The Mourne Mountains sweeping down to the sea.’
Photograph: Bill Coulter

​​​​​​​New Mexico, US
‘White Sands national park. Not snow, but sand – and not even real sand (silica) but gypsum (calcium sulphate) crystals.’
Photograph: Gill Henry
Market Closes for June 19^th, 2024

International Markets

Bonds

Currencies

Commodities

Market Commentary:
There’s no way that you can live an adequate life without making many mistakes. –Charlie Munger, 1924-2023.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell 0.4% at 21,516.90 in Toronto.
The index dropped to the lowest closing level since Feb. 29 after the previous session’s increase of 0.1%.
Brookfield Corp. contributed the most to the index decline, decreasing 2.6%.
Canfor Corp. had the largest drop, falling 2.9%.
Today, 146 of 222 shares fell, while 67 rose; all sectors were lower, led by financials stocks.
Insights
* This quarter, the index fell 2.9%
* The index advanced 7.9% in the past 52 weeks. The MSCI AC Americas Index gained 23% in the same period
* The S&P/TSX Composite is 4.6% below its 52-week high on May 21, 2024 and 15.1% above its low on Oct. 27, 2023
* The S&P/TSX Composite is down 2% in the past 5 days and fell 4.2% 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 14.7 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.2% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.43t
* 30-day price volatility rose to 10.27% compared with 10.22% in the previous session and the average of 10.18% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -35.9813| -0.5| 8/19
Industrials | -28.8049| -0.9| 4/23
Energy | -10.9821| -0.3| 13/22
Consumer Discretionary | -4.6637| -0.6| 2/11
Information Technology | -3.0285| -0.2| 5/5
Real Estate | -2.8943| -0.7| 0/19
Consumer Staples | -2.6248| -0.3| 4/7
Communication Services | -1.8397| -0.3| 1/4
Materials | -1.5688| -0.1| 20/27
Utilities | -1.2149| -0.1| 10/5
Health Care | -0.7994| -1.3| 0/4
================================================================
| | |Volume VS| YTD
|Index Points | | 20D AVG | Change
Top Contributors | Move | % Change | (%) | (%)
================================================================
Brookfield Corp | -14.5300| -2.6| -49.9| 4.0
Canadian National | -10.0400| -1.5| -21.3| -3.9
Canadian Pacific Kansas | -7.6400| -1.1| -41.3| 0.4
Lundin Mining | 1.2900| 1.9| -84.6| 36.1
Shopify | 1.4390| 0.2| -34.9| -14.4
Bank of Montreal | 1.5240| 0.3| -48.1| -11.7US
US
US  markets closed for Juneteenth  holiday.

Have a lovely evening.

Be magnificent!

As ever,

Carolann
He will win who knows when to fight and when not to fight. –Sun Tzu, 544 BC-496 BC.

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