May 29, 2023, Newsletter

Dear Friends,

Tangents: Happy Monday.
May 29, 1453: Constantinople, capital of the Byzantine Empire, falls to the Ottoman Empire after a 2-month siege. The city is renamed Istanbul and becomes the capital of the Ottoman Empire.

John F. Kennedy, the 35th president of the United States, was born in Brookline, Mass. Go to article > 

1953: Mt. Everest summit reached.

James Webb Telescope finds evidence of ‘celestial monster’ stars the size of 10,000 suns lurking at the dawn of time
The James Webb Space Telescope has found key chemical fingerprints of supermassive stars just 440 million years after the Big Bang. Read More

1,100-year-old breastplate to ward off evil may contain the oldest Cyrillic writing ever found
An inscription on an 1,100-year-old breastplate found in a ruined fortress in Bulgaria may contain one of the earliest known examples of Cyrillic text, researchers claim. Read More

New York City may be sinking under its own weight because the buildings are too heavy, scientists warn
Scientists estimate the mass of the 1,084,954 buildings within the five boroughs of New York City is 1.68 trillion pounds. Read More
PHOTOS OF THE DAY

Windsor, UK
A moment of Zen on board a barge called Sanity moored on the River Thames.  Photograph: Maureen McLean/Shutterstock

Wertheim, Germany
Icelandic horses run over a meadow at a stud farm.  Photograph: Michael Probst/AP

Kyiv, Ukraine
People take cover in a Metro station during a Russian missile attack.  Photograph: Evgeniy Maloletka/AP
Market Closes for May 29^th, 2023

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Investment success accrues not so much to the brilliant as to the disciplined. – William J.  Bernstein.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.2%, or 47.64 to 19,967.95 in Toronto.
Toronto-Dominion Bank contributed the most to the index gain, increasing 1.1%.
Converge Technology Solutions Corp. had the largest increase, rising 5.6%.
Today, 158 of 232 shares rose, while 69 fell; 8 of 11 sectors were higher, led by financials stocks.
Insights
* This month, the index fell 3.2%
* The index declined 3.8% in the past 52 weeks. The MSCI AC
Americas Index gained 0.3% in the same period
* The S&P/TSX Composite is 5.1% below its 52-week high on June 2, 2022 and 11.7% above its low on Oct. 13, 2022
* The S&P/TSX Composite is down 1.9% in the past 5 days and fell 3.2% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13.3 on a trailing basis and 13.5 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.3% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.18t
* 30-day price volatility fell to 10.66% compared with 10.68% in the previous session and the average of 9.46% over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 24.2128| 0.4| 25/4
Energy | 17.3332| 0.5| 32/8
Industrials | 5.9761| 0.2| 19/7
Information Technology | 4.2840| 0.3| 8/4
Real Estate | 2.3805| 0.5| 19/2
Materials | 1.7597| 0.1| 28/20
Utilities | 1.6115| 0.2| 10/6
Health Care | 0.4677| 0.7| 4/2
Communication Services | -1.2733| -0.2| 2/2
Consumer Discretionary | -3.7233| -0.5| 6/8
Consumer Staples | -5.3845| -0.6| 5/6
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
TD Bank | 10.8800| 1.1| -75.4| -9.8
Shopify | 6.5610| 1.0| -78.0| 73.3
Suncor Energy | 4.4990| 1.2| -73.5| -8.4
Restaurant Brands | -3.1450| -1.5| -73.5| 12.2
Couche-Tard | -3.6270| -1.0| -56.4| 12.1
Brookfield Corp | -5.7540| -1.4| -77.2| -0.7
US
US markets closed for Memorial Day.

Have a lovely evening.

Be magnificent!
As ever,

Carolann

How wonderful it is that nobody need wait a single moment before starting to improve the world. –Anne Frank, 1929-1945.
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