November 22, 2019 Newsletter

Dear Friends,

Tangents:
1859~ On The Origin Of Species published, Charles Darwin.

On Nov. 22, 1963, President John F. Kennedy was assassinated while riding in a motorcade in Dallas. Suspected gunman Lee Harvey Oswald was arrested. Vice President Lyndon B. Johnson was sworn in as the 36th president of the United States.  Go to article »

Meanwhile in Massachusetts
-by Jacqueline Bouvier Kennedy

Meanwhile in Massachusetts Jack Kennedy dreamed

Walking the shore by the Cape Cod Sea
Of all the things he was going to be.

He breathed in the tang of the New England fall
And back in his mind he pictured it all,
The burnished New England countryside
Names that a patriot says with pride
Concord and Lexington, Bunker Hill
Plymouth and Falmouth and Marstons Mill
Winthrop and Salem, Lowell, Revere
Quincy and Cambridge, Louisburg Square.
This was his heritage — this was his share
Of dreams that a young man harks in the air.
The past reached out and tracked him now

He would heed that touch; he didn’t know how.
Part he must serve, a part he must lead
Both were his calling, both were his need.

Part he was of New England stock
As stubborn, close guarded as Plymouth Rock
He thought with his feet most firm on the ground
But his heart and his dreams were not earthbound
He would call New England his place and his creed
But part he was of an alien breed
Of a breed that had laughed on Irish hills
And heard the voices in Irish rills.

The lilt of that green land danced in his blood
Tara, Killarney, a magical flood
That surged in the depth of his too proud heart
And spiked the punch of New England so tart
Men would call him thoughtful, sincere
They would not see through to the Last Cavalier.

He turned on the beach and looked toward his house.

On a green lawn his white house stands
And the wind blows the sea grass low on the sands
There his brothers and sisters have laughed and played
And thrown themselves to rest in the shade.
The lights glowed inside, soon supper would ring
And he would go home where his father was King.
But now he was here with the wind and the sea
And all the things he was going to be.

He would build empires
And he would have sons
Others would fall
Where the current runs

He would find love
He would never find peace
For he must go seeking
The Golden Fleece

All of the things he was going to be
All of the things in the wind and the sea.
                                -October, 1953

PHOTOS OF THE DAY

A purebred Spanish horse is mounted by a rider during the SICAB International PRE Horse Fair which is dedicated to purebred Spanish horses in Seville, Spain.
CREDIT: REUTERS/MARCELO DEL POZO

The petals of a rose are covered in frost in Herdecke, western Germany.
CREDIT: BERND THISSEN/DPA/AFP VIA GETTY IMAGES

People taste the new wine during the official start of the “Beaujolais Nouveau” edition in the streets of Lyon, central-eastern France.
CREDIT: JEFF PACHOUD/ AFP VIA GETTY IMAGES

Market Closes for November 22^nd, 2019  

International Markets

Bonds

Currencies

Commodities

Market Commentary:
On this day in 1937, the Law Committee of the New York Stock Exchange delivered a harshly-worded letter to William O. Douglas, chairman of the U.S. Securities and Exchange Commission, declaring that the NYSE’s leaders would refuse to appoint an independent president or even to apologize for claiming that the SEC has contributed to the stock-market crash. In response, Mr. Douglas growled, “All right, then, we’ll take the Exchange over.”
Canada
By Michael Bellusci and Bloomberg Automation
(Bloomberg) — Canadian stocks had a losing week, falling for a fifth-straight session Friday. U.S. equities edged higher after President Donald Trump said he was “very close” to a trade pact with China even as he warned that Beijing wanted a deal more than he did. The S&P/TSX Composite fell 0.3%, or 44.35 to 16,954.84 on Friday in Toronto. The move was the biggest loss since Oct. 23. Health-care stocks led the decliners Friday after rallying for three sessions. Meanwhile, reports of propane shortages in Ontario and Quebec appear  to be largely manufactured by Canadian National Railway Co., according to the union that began a fourth day on strike at the country’s largest railroad.
Commodities
* Western Canada Select crude oil traded at a $18.90 discount to WTI
* Spot gold fell 0.2% to $1,462.14 an ounce
FX/Bonds
* The Canadian dollar fell about 0.1% to C$1.3292 per U.S. dollar
* The 10-year government bond edged lower to 1.472%
Insights
* This week the index fell 0.4%, its biggest decline since the week ended Oct. 4
* This month, the index is up 2.9%
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | -21.7930| -0.8| 9/22
Health Care | -10.8560| -4.8| 4/6
Materials | -5.2769| -0.3| 19/27
Financials | -3.4072| -0.1| 14/13
Consumer Staples | -3.3977| -0.5| 2/8
Industrials | -2.4177| -0.1| 17/14
Communication Services | -1.2883| -0.1| 2/5
Information Technology | 0.3149| 0.0| 5/4
Consumer Discretionary | 0.3650| 0.1| 9/7
Utilities | 1.2062| 0.2| 8/8
Real Estate | 2.1982| 0.4| 23/2
US
By Vildana Hajric
(Bloomberg) — U.S. equities edged higher after President Donald Trump said he was “very close” to a trade pact with China even as he warned that Beijing wanted a deal more than he did. Automakers, an industry particularly sensitive to trade, led advances after Trump’s comments in an interview on Fox News. Bitcoin tumbled to a six-month low and the dollar gained. Oil fell and Treasury yields held steady. The S&P 500 Index posted a small weekly loss, its first since early October. It’s been a mixed picture on the trade front this week, suppressing volatility and keeping stocks in a tight range within 1% of a record high. Chinese Vice Premier Liu He has invited Robert Lighthizer to Beijing for further talks later this month, according to people familiar with the matter, and Washington will likely postpone new tariffs scheduled for December even if there’s no deal by then, the South China Morning Post reported.
However, Trump may soon sign a bill supporting Hong Kong’s protesters, a move likely to anger China. He declined to reveal plans when asked Friday. “Stocks’ short-term direction is still all about trade,” said Alec Young, managing director of global markets research at FTSE Russell. “Given precious little substance of late on that front, it’s no surprise stocks are stuck in a tight trading range with volatility at multi month lows.” Elsewhere, European stocks advanced. The pound fell — boosting U.K. equities — following a gloomy reading of company sentiment. Government bonds in Europe rose as a measure of services in the euro area disappointed. Japanese shares steadied after three days of declines, while stocks climbed in Australia and Hong Kong, and slipped in China.
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.2% at the close of trading in New York; it lost 0.3% for the week.
* The Stoxx Europe 600 Index climbed 0.4%.
* The U.K.’s FTSE 100 Index surged 1.2%.
* The MSCI Asia Pacific Index increased 0.2%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.2%.
* The euro fell 0.3% to $1.1021.
* The British pound decreased 0.6% to $1.2835.
* The Japanese yen was little changed at 108.63 per dollar.
Bonds
* The yield on 10-year Treasuries was little changed at 1.77%.
* Germany’s 10-year yield fell three basis points to -0.36%.
* Britain’s 10-year yield decreased five basis points to 0.7%.
Commodities
* West Texas Intermediate crude fell 1.1% to $57.91 a barrel.
* Gold slipped 0.1% to $1,463.04 an ounce.
–With assistance from Adam Haigh and Constantine Courcoulas.
Have a wonderful weekend everyone!

Be magnificent!
As ever,

Carolann

The ultimate inspiration is the deadline.
                                    -Nolan K. Bushnell, b. 1943

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
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