November 21, 2019 Newsletter

Dear Friends,

Tangents:

1694~ Voltaire was born.
1783- Man’s first flight in a balloon.
1995- Dow tops 5000 for the first time

PHOTOS OF THE DAY

A surfer drops in on a large wave at Praia do Norte in Nazare, Portugal.
CREDIT: RAFAEL MARCHAN/REUTERS

The Winter Wonderland’s return to Hyde Park today marks the start of the Christmas season in central London. Attractions include 100 rides, a circus, comedy shows, ice shows, a Christmas market, Santa Land, restaurants, cafes and themed bars. The fair will be open every day until Sunday, Jan 5.
CREDIT: CHRIS GORMAN/BIG LADDER

A Humpback whale jumping in the Pacific Ocean at the Uramba Bahia Malaga Natural Park in Colombia.
CREDIT: MIGUEL MEDINA/AFP

Market Closes for November 21^st, 2019

International Markets

Bonds

Currencies

Commodities

Market Commentary:
On this day in 1995, the Dow Jones Industrial Average broke through the 5000 barrier for the first time, finishing the day at 5023.55, just nine months after first closing above 4000. Never before had a market milestone fallen so quickly, and even bullish analysts were astonished at the speed of the market’s rise.
Canada
By Michael Bellusci and Bloomberg Automation
(Bloomberg) — Canadian equities were mixed Thursday as traders assessed the status of U.S.-China trade talks. Meanwhile, an eight-month rout in pot stocks that wiped out almost two-thirds of their market value may finally have reached its bottom. The S&P/TSX Composite edged lower to 16,999.19 in Toronto. Health care stocks rallied while materials were the weakest group. Also, Quebec is facing an “emergency” shortage of propane and shipments of oil, grain and metal are grinding to a halt as the impact of a rail strike in Canada threatened to take a multibillion chunk out of the nation’s economy. On the commodities front, oil climbed to a nine-week high while nickel plunged into a bear market as worries about a supply crunch were replaced by concerns that demand will crater.
Commodities
* Western Canada Select crude oil traded at a $18.90 discount to WTI
* Spot gold fell 0.4% to $1,465.29 an ounce
FX/Bonds
* The Canadian dollar strengthened 0.2% to C$1.3282 per U.S. dollar
* The 10-year government bond yield rose 4.4 basis points to 1.475%
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -26.4515| -1.4| 7/42
Industrials | -6.8357| -0.4| 11/21
Real Estate | -2.8731| -0.5| 2/22
Communication Services | -2.0280| -0.2| 3/4
Consumer Discretionary | -1.7611| -0.2| 8/8
Utilities | -1.6714| -0.2| 8/8
Information Technology | 1.2242| 0.1| 4/5
Consumer Staples | 4.6883| 0.7| 8/2
Financials | 4.9273| 0.1| 11/16
Energy | 10.1771| 0.4| 25/6
Health Care | 13.9648| 6.6| 9/1
US
By Vildana Hajric
(Bloomberg) — U.S. equities slid following losses in Europe and Asia as traders weighed conflicting signals about the outlook for a trade deal between Beijing and Washington. The S&P 500 Index fell for a third day, the longest losing streak in almost two months, but remained within 1% of a record high. The dollar held steady and Treasuries dipped as China’s chief trade negotiator reportedly said he was “cautiously optimistic” about reaching a phase-one accord. Pessimists focused on speculation Donald Trump may sign legislation backing Hong Kong protesters, setting up further conflict between the nations. TD Ameritrade soared on reports that Charles Schwab Corp. is in talks to buy the brokerage. Hong Kong’s deteriorating situation may prove crucial to the trade talks, and on Thursday a commentary from China’s state-run news agency accused the U.S. of applying a double standard. China has threatened to retaliate for the passage of the American bill and said supporting the protesters was a “gross” interference in Hong Kong affairs. Traders will be watching for signs of progress ahead of a Dec. 15 deadline for further tariffs. “Investors now are starting to worry again that we may not see that phase one in 2019,” said Chris Gaffney, president of world markets at TIAA. “It’s going to be tough to have the next leg up without a trade deal.” Elsewhere, oil futures rose. European bonds tracked Treasuries lower and emerging-market stocks slid.
Here are some key events coming up this week:
* Economic indicators due for release include U.S. and European PMI data for November on Friday.

These are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.2% at the close of trading in New York time.
* The Stoxx Europe 600 Index dipped 0.4%.
* The MSCI Asia Pacific Index declined 0.7%.
* The MSCI Emerging Market Index fell 0.7%.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro slipped 0.1% to $1.1057.
* The British pound slid 0.1% to $1.2906.
* The Japanese yen was little changed at 108.63 per dollar.
Bonds
* The yield on 10-year Treasuries increased two basis points to 1.77%.
* Germany’s 10-year yield increased two basis points to -0.33%.
* Britain’s 10-year yield jumped two basis points to 0.75%.
Commodities
* West Texas Intermediate crude gained 2.3% to $58.42 a barrel.
* Gold decreased 0.5% to $1,464.50 an ounce.
–With assistance from Kyoungwha Kim, Andreea Papuc, Adam Haigh,
Cormac Mullen, Yakob Peterseil and Todd White.
Have a great night.

Be magnificent!
As ever,

Carolann

The more you praise and celebrate your life,  the more there is in life to celebrate.
                                                                                                    -Oprah

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