November 11, 2021 Newsletter

Dear Friends,

Tangents: Armistice Day.
On Nov. 11, 1918, fighting in World War I came to an end with the signing of an armistice between the Allies and Germany. Go to article »

Google wants to save the world with satellite images. 

Data from the Fermi Large Area Telescope suggests there is a particle accelerator in the galactic center.

Crypto is forbidden for Muslims, Indonesia’s religious council rules. 

The Thames is no longer biologically dead. (h/t Alistair Lowe)

The moon’s regolith has enough oxygen to last 8 billion people 100,000 years.

PHOTOS  OF THE DAY
President Emmanuel Macron meets veterans under the Arc de Triomphe during ceremonies marking the 103rd anniversary of Armistice Day
CREDIT: Ludovic Marin/AP
On the ‘eleventh hour of the eleventh day of the eleventh month’ in 1918 the Armistice was signed. Today the nation falls silent at 11:00 in an act of Remembrance of all those who have served and sacrificed.
CREDIT: twitter.com/RoyalFamily
Hindus gather on the banks of the Hooghly River during the Chhath festival, when rituals are performed to thank the sun god for sustaining life on Earth
CREDIT: Bikas Das/AP
A long-exposure photograph shows the launch of the SpaceX Falcon 9 rocket, with the Crew Dragon capsule, carrying three Nasa astronauts and one from ESA, on a mission to the International Space Station at the Kennedy Space Center in Florida
CREDIT: Thom Baur/Reuters

Market Closes for November 11^th, 2021

International Markets

Bonds

Currencies

Commodities

Market Commentary:
     For much of an abbreviated three-hour trading session on this day in 1929, investors breathed a sigh of relief, as the recent panic seemed to lift. Then a wave of selling in the final hour hammered stocks including U.S. Steel and General Electric and sent the Dow to one of its worst days ever.
Canada
By Alex Wittenberg
(Bloomberg) — Canadian equities rebounded Thursday with companies in the materials sector leading the index higher. The S&P/TSX Composite rose 0.6% at 21,581.98 in Toronto. The move was the biggest since rising 1% on Nov. 1 and follows the previous session’s decrease of 0.6%. Eight of 11 sectors gained Thursday; 155 of 233 shares rose, while 75 fell. Shopify Inc. contributed the most to the index gain, increasing 1.9 percent. Stelco Holdings Inc. had the largest increase, rising 10%.
Insights
* This year, the index rose 24 percent, heading for the best year in at least 10 years
* So far this week, the index rose 0.6 percent
* The index advanced 29 percent in the past 52 weeks. The MSCI AC Americas Index gained 30 percent in the same period
* The S&P/TSX Composite is 0.2 percent below its 52-week high on Nov. 11, 2021 and 30.5 percent above its low on Nov. 12, 2020
* The S&P/TSX Composite is up 1.1 percent in the past 5 days and rose 5.7 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.6 on a trailing basis and 16.6 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.4 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.38t
* 30-day price volatility fell to 9.05 percent compared with 9.22 percent in the previous session and the average of 10.23 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Materials | 65.5555| 2.6| 49/6
* Information Technology | 32.0123| 1.3| 10/5
* Financials | 14.2671| 0.2| 21/7
* Health Care | 4.6972| 2.4| 7/1
* Energy | 4.0883| 0.1| 13/10
* Consumer Discretionary | 3.7736| 0.5| 7/6
* Consumer Staples | 2.1513| 0.3| 8/5
* Industrials | 1.3981| 0.1| 19/10
* Real Estate | 0.0000| -1.1| 10/14
* Communication Services | -2.4647| -0.2| 5/2
* Utilities | -4.3172| -0.5| 6/9
================================================================
| | |Volume VS| YTD
|Index Points| | 20D AVG | Change
Top Contributors | Move |% Change | (%) | (%)
================================================================
* Shopify | 27.2800| 1.9| -44.7| 30.6
* Franco-Nevada | 8.2650| 3.5| 20.9| 17.1
* Royal Bank of Canada | 8.2100| 0.6| -57.9| 27.4
* Canadian Natural Resources | -3.8700| -0.9| -44.5| 71.8
* CAE | -9.2350| -10.1| 219.7| 6.3
* Brookfield Asset Management | -12.8600| -1.7| -28.5| 42.1

US
By Kamaron Leach and Emily Graffeo
(Bloomberg) — U.S. equities pared back a rebound Thursday after a selloff in the previous session due to fears high inflation could spur tighter monetary policy. The S&P 500 gained less than 0.1% — led by gains in materials and technology — after falling 0.8% Wednesday in its worst slump in more than a month. Tesla Inc. fluctuated after filings showed Chief Executive Officer Elon Musk unloaded $5 billion of stock. Meanwhile, Walt Disney Co. slid and Beyond Meat Inc. plunged after disappointing quarterly figures. The U.S. cash Treasury market was closed for a holiday. Investors are bracing for changes in monetary policy sooner rather than later after higher-than-expected consumer prices dealt a blow to arguments inflation is transitory. Persistently high inflation could force the Federal Reserve to taper at a more substantial rate or hike interest rates faster than anticipated.  At the same time, equities are hovering near all-time highs as strong earnings and economic growth prospects have propelled the stock market higher.
Clearbridge Investments’ Jeff Schulze said the recent slide in equities “was a combination of profit-taking after a nice run from the October lows but then also some concerns about margin and overall earnings in 2022.” The firm’s investment strategist, in an interview by phone, said “although inflation hasn’t made a dent in third-quarter earnings, if we stay at these uncomfortable levels of inflation for three or four more quarters, this is definitely something that could impact margins and create demand destruction in the economy, both of which are headwinds to earnings.” Instinet LLC’s Frank Cappelleri added Wednesday’s decline was also “right on cue” from a seasonality perspective. “Over the last two decades, November’s weakest part has occurred in the middle of the month,” Cappelleri wrote in a note. “The damage so far is slight, and this could very well be the start of the next bullish pattern, regardless if yesterday’s dip encourages immediate dip buying or not.” Oil struggled for direction as investors weighed the odds that the White House will intervene to cool prices.  Gold approached a five-month high and Bitcoin hovered near $65,000. In Europe, stocks gained while in Asia, Chinese equities rallied on speculation the government will ease the struggle with property developers. The dollar was stronger against major peers.

Stocks
* S&P 500 were little changed as of 4 p.m. New York time
* Dow Jones Industrial Average fell 0.4%
* Nasdaq 100 gained 0.3%
* The MSCI World index was little changed
Currencies
* The Bloomberg Dollar Spot Index rose 0.3%
* The euro fell 0.3% to $1.1447
* The British pound fell 0.3% to $1.3361
* The Japanese yen fell 0.1% to 114.08 per dollar
Bonds
* Germany’s 10-year yield advanced two basis points to -0.23%
* Britain’s 10-year yield was little changed at 0.92%
Commodities
* West Texas Intermediate crude fell 0.3% to $81.10 a barrel
* Gold futures rose 0.9% to $1,865.30 an ounce
–With assistance from Namitha Jagadeesh, Garfield Reynolds and Andreea Papuc.
Have a lovely evening.

Be magnificent!
As ever,

Carolann

There are no secrets to success.  Don’t waste your time looking for them.  Success is the result of perfection, hard work,
learning from failure, loyalty to those for whom you work, and persistence. –General Colin Powell, 1937-2021.

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
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www.carolannsteinhoff.com