November 18, 2021 Newsletter

Dear Friends,

Tangents: Full Moon aka Beaver Moon. The Beaver Moon gets its name from beaver hunting season, which used to peak this time of year. Plus, beavers start retiring to their lodges for the winter around now, too. Other names for November’s full moon include the Digging Moon (from the Tlingit), the Whitefish Moon (from the Algonquin), and the Frost Moon (from the Cree and Assiniboine).

There will be the longest lunar eclipse in 580 years lasting 3 ½ hours, beginning at 2:18 – 5:47 EST tomorrow morning.  On the morning of Friday, Nov. 19, the full Beaver Moon will take place in a 97%-total lunar eclipse, according to NASA, meaning that nearly all of the moon’s surface will be shrouded in the Earth’s shadow.

November 18, 1883 The United States and Canada adopted a system of standard time zones.  Go to article »

Mickey Mouse, b. 1928.
Margaret Atwood, writer, b. 1939.

Europe’s greenest cities might not be the ones you think.

Adele debuts devastating new song ‘To Be Loved’.  Adele, we can’t take much more of this!!!

Tourists break into Rome’s Colosseum to drink beer.  “Are you not entertained?!!“

Los Angeles’ Staples Center is becoming the Crypto.com Arena.  It really just rolls off the tongue, doesn’t it? 

“Generations of fans have grown up with the Staples Center. For my younger viewers, that name refers to the Staples office supply company. An office is something you used to go to for meetings, which are like very boring in-person emails. Oh, emails are long texts with more words, and words are faceless emojis that remind you you’re a relic of the past and the future no longer belongs to you. Go Cryptos!” — STEPHEN COLBERT

PHOTOS OF THE DAY
A tractor crosses flooded farmland in British Columbia
CREDIT: Darryl Dyck/AP
A sommelier serves beaujolais nouveau on the day of its official release at Hakone Kowakien Yunessun hot spring resort
CREDIT: Franck Robichon/EPA
People in the autumn sun at Cliveden House in Berkshire
CREDIT: Geoffrey Swaine/Rex/Shutterstock

Market Closes for November 18^th, 2021

International Markets

Bonds

Currencies

Commodities

Market Commentary:
We pay the debts of the last generation by issuing bonds payable by the next generation. – Lawrence J. Peter.
Canada
By Stefanie Marotta
(Bloomberg) — Canadian equities fell on Thursday as pot company stocks tumbled for the fourth day and the materials sector weighed on the index. The S&P/TSX Composite edged lower by less than 0.1% to 21,637.54 in Toronto. Today, materials stocks led the market lower, as 7 of 11 sectors lost; 144 of 233 shares fell, while 84 rose. Manulife Financial Corp. contributed the most to the index decline, decreasing 2.6 percent. Cronos Group Inc. had the largest drop, falling 12.4 percent.
Insights
* This year, the index rose 24 percent, heading for the best year in at least 10 years
* So far this week, the index fell 0.6 percent
* The index advanced 28 percent in the past 52 weeks. The MSCI AC Americas Index gained 31 percent in the same period
* The S&P/TSX Composite is 0.7 percent below its 52-week high on Nov. 16, 2021 and 28.7 percent above its low on Nov. 19, 2020
* The S&P/TSX Composite is up 0.3 percent in the past 5 days and rose 3.1 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.7 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$3.41t
* 30-day price volatility fell to 8.85 percent compared with 9.21 percent in the previous session and the average of 10.01 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
* Materials | -22.7096| -0.9| 10/43
* Financials | -21.6085| -0.3| 9/17
* Health Care | -12.2209| -6.0| 1/8
* Consumer Discretionary | -4.6435| -0.6| 3/10
* Communication Services | -0.5885| -0.1| 2/5
* Utilities | -0.5806| -0.1| 9/7
* Consumer Staples | -0.1061| 0.0| 5/8
* Real Estate | 0.9576| 0.1| 17/7
* Industrials | 8.6630| 0.3| 9/21
* Energy | 8.7392| 0.3| 15/8
* Information Technology | 28.6191| 1.1| 4/10
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
* Manulife Financial | -8.8980| -2.6| 256.1| 10.2
* Barrick Gold | -6.9140| -2.1| 41.5| -9.5
* Tilray | -5.7610| -12.0| 65.2|n/a
* Canadian National | 7.4070| 1.1| 35.9| 16.3
* Canadian Natural Resources | 7.9060| 1.8| -4.9| 73.4
* Shopify | 41.1200| 2.5| -24.0| 47.4
US
By Rita Nazareth and Lu Wang
(Bloomberg) — Technology stocks drove the equity market to a record in a volatile session ahead of Friday’s options expiration. The S&P 500 notched its 66th all-time high of 2021, with the benchmark gauge poised for the second-biggest number of annual records ever — only behind 1995. The tech-heavy Nasdaq 100 outperformed as giant chipmaker Nvidia Corp. boosted its outlook, while Apple Inc. jumped after Bloomberg News reported the company is pushing to accelerate the development of its electric car. Macy’s Inc. and Kohl’s Corp. paced gains in retailers after signaling consumer demand remains robust. “Technology continues to be a key enabler of higher productivity and home to many of the fastest growing companies,” said Scott Brown, a technical strategist at LPL Financial. “So does this mean investors should be shifting all of their assets over to growth stocks again? We don’t necessarily think so, and continue to find opportunities in both growth and value styles.” The next six months could see the S&P 500 hitting 5,200 in an environment of reduced monetary stimulus and outperformance by cyclical companies, according to Mark Haefele, chief investment officer at UBS Global Wealth Management. That would imply a rally of about 11% from current levels.

Some other corporate highlights:
* After the close of regular trading, Applied Materials Inc. — the biggest maker of machinery used to manufacture semiconductors — delivered a weaker forecast than anticipated.
* U.S.-listed Chinese stocks slumped on Thursday after a disappointing revenue outlook from e-commerce giant Alibaba Group Holding Ltd.
* CVS Health Corp. rose after saying it will close 900 stores over the next three years, part of a plan to decrease its store density in some areas.

JPMorgan Chase & Co. economists said they now expect the Federal Reserve to raise interest rates next September, becoming the latest on Wall Street to jettison a forecast for the central bank to stay on hold through 2022. Goldman Sachs Group Inc. analysts said last month they expect a Fed hike in July. Their counterparts at Morgan Stanley still see officials not shifting rates throughout next year.

What to watch this week:
* Fed’s Richard Clarida and Mary Daly speak at Asia Economic Policy Conference. Friday

Some of the main moves in markets:
Stocks
* The S&P 500 rose 0.3% as of 4 p.m. New York time
* The Nasdaq 100 rose 1.1%
* The Dow Jones Industrial Average fell 0.2%
* The MSCI World index was little changed
Currencies
* The Bloomberg Dollar Spot Index fell 0.1%
* The euro rose 0.5% to $1.1372
* The British pound rose 0.1% to $1.3501
* The Japanese yen fell 0.1% to 114.24 per dollar
Bonds
* The yield on 10-year Treasuries declined one basis point to 1.58%
* Germany’s 10-year yield declined three basis points to -0.28%
* Britain’s 10-year yield declined four basis points to 0.92%
Commodities
* West Texas Intermediate crude rose 0.4% to $78.67 a barrel
* Gold futures fell 0.4% to $1,864.50 an ounce
–With assistance from Andreea Papuc, Cecile Gutscher, Peyton Forte, Vildana Hajric and Elena Popina.
Have a lovely evening.

Be magnificent!
As ever,

Carolann

It has been said that politics is the second oldest profession.  I have learned that it bears a striking resemblance to the first. -Ronald Reagan, 1911-2004.

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