November 28, 2024, Newsletter

Dear Friends,

Tangents:
It’s American Thanksgiving today.  All US markets are closed.

November 28, 2001: Enron Corp., once the world’s largest energy trader, collapsed after would-be rescuer Dynegy Inc. backed out of an $8.4 billion deal to take it over. Go to article 

Orcas start wearing dead salmon hats again after ditching the trend for 37 years
Orcas off the coast of Washington State are balancing dead fish on their heads like it’s the 1980s, but researchers still aren’t sure why they do it. Read More.

‘Stunning’ discovery reveals how the Maya rose up 4,000 years ago
The discovery of complex fish trapping networks from 4,000 years ago hint at how the Maya rose up as a civilization in Central America and what is now southern Mexico. Read More.

We are instinctively turned off by stories labeled ‘AI-generated’ — even if they were secretly written by other people, study finds
Even when a creative work is made by humans, we think it’s missing a key element of art if we think it’s been written by an AI — that capacity to fully immerse you in the world being created. Read More.

Samples of ‘alien’ asteroid Ryugu are crawling with life — from Earth
Scientists have found microorganisms crawling over a sample retrieved from the 200 million-mile-distant asteroid Ryugu. But they almost certainly came from Earth. Read More.

PHOTOS OF THE DAY

Tien Shan, Kyrgyzstan
Yilki horses graze in the highlands of the Tien Shan mountains, which cover a large part of Kyrgyzstan and are listed as a Unesco world natural heritage site. The highlands in the Tien Shan mountains and the wild horses, often referred to as the ‘lords of the Tien Shan’, are integral to Kyrgyz culture. As a majority of the Kyrgyz people have embraced a nomadic lifestyle, horses have played a vital role throughout history
Photograph: Anadolu/Getty Images

Cambridge, UK
Rowers train at sunrise on the River Cam. Clearer weather is forecast for the UK on Thursday as Storm Conall moves on to the Netherlands
Photograph: Joe Giddens/PA

​​​​​​​Ardingly, UK
People look at a projection on a mansion during a photocall for Glow Wild, the winter lantern trail at Kew’s wild botanic garden in West Sussex
Photograph: Andrew Matthews/PA
Market Closes for November 28, 2024

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.2%, or 55.22 to 25,543.52 in Toronto.
Canadian Natural Resources Ltd. contributed the most to the index gain, increasing 1.1%. Bausch Health Cos. had the largest increase, rising 4.0%.
Today, 141 of 219 shares rose, while 66 fell; 10 of 11 sectors were higher, led by energy stocks.
Insights
* This year, the index rose 22%, heading for the best year in at least 10 years
* This month, the index rose 5.7%, heading for the biggest advance since November 2023
* So far this week, the index rose 0.4%
* The index advanced 27% in the past 52 weeks. The MSCI AC Americas Index gained 31% in the same period
* The S&P/TSX Composite is at its 52-week high and 28.2% above its low on Nov. 28, 2023
* The S&P/TSX Composite is up 0.6% in the past 5 days and rose 4% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 20.5 on a trailing basis and 17.5 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.7% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$4.02t
* 30-day price volatility fell to 8.70% compared with 8.80% in the previous session and the average of 8.15% over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Energy | 22.7636| 0.5| 29/9
Industrials | 14.8907| 0.5| 21/4
Materials | 7.1050| 0.2| 26/19
Consumer Staples | 3.4789| 0.3| 8/2
Information Technology | 3.2775| 0.1| 6/4
Real Estate | 2.0658| 0.4| 17/3
Communication Services | 1.8726| 0.3| 4/1
Health Care | 1.1519| 1.5| 3/0
Consumer Discretionary | 1.1013| 0.1| 5/6
Utilities | 0.5240| 0.1| 9/5
Financials | -2.9964| 0.0| 13/13
================================================================
| | |Volume VS | YTD
| Index | | 20D AVG | Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
Canadian Natural Resources | 7.4600| 1.1| -60.1| 9.5
Canadian Pacific Kansas | 4.1210| 0.6| -77.5| 1.4
Shopify | 3.9890| 0.3| -85.2| 53.4
CIBC | -1.8510| -0.3| -51.7| 41.7
Constellation Software | -2.9810| -0.5| -74.1| 43.1
Brookfield Corp | -9.4900| -1.1| -74.8| 60.2
US
All markets closed.

“Lord, behold our family here assembled. We thank You for this place in which we dwell, for the love accorded us this day, for the hope with which we expect the morrow; for the health, the work, the food and the bright skies that make our lives delightful; for our friends in all parts of the earth. Give us courage and gaiety and the quiet mind. Spare us to our friends, soften us to our enemies. Bless us, if it may be, in all our innocent endeavors; if it may not, give us strength to endure that which is to come…..that we may be brave in peril, constant in tribulation, temperate in wrath and in all changes of fortune and down to the gates of death, loyal and loving to one another.” — Robert Louis Stevenson, 1890s.

Have a lovely evening.

Be magnificent!

As ever,

Carolann
Gratitude is not only the greatest of virtues, but the parent of all others. -Marcus Tullius Cicero, 106 BCE- 43 BCE.

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 (Text Only)
Toll Free: 1.877.430.5895
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www.carolannsteinhoff.com