September 16, 2021 Newsletter

Dear Friends,

Tangents:  It is Yom Kippur, the Day of Atonement. The Jewish holy day began last night at sundown and is considered the most important and sacred of Jewish religious holidays.

September 16, 1620: Mayflower Day – Pilgrims deported from England.

September 16, 1630: The Massachusetts village of Shawmut changed its name to Boston.  Go to article »

1810-Mexican Independence Day

The best new restaurants in London, as chosen by top chefs.

Rivian beats Tesla, GM and Ford to build the first electric pickup truck.  For when you want to be environmentally responsible but still have to haul a few loads to the dump.

RuPaul has a new namesake: A rainbow-colored fly.  And it’s fabulous, baby!

Meghan and Harry are named ‘icons’ in Time’s list of 100 most influential people.  We’re going to need a new word for “power couple.”

The Crystal Cabin Awards recognize the airplane interior designs of the future.  See, a future with more legroom is possible!

You’ll be eating algae soon.
PHOTOS OF THE DAY

A SpaceX Falcon 9 rocket, with four private citizens onboard, lifts off in this time-exposure photo from Kennedy Space Center’s Launch Pad 39-A
CREDIT: AP PHOTO/JOHN RAOUX

Corfe Castle captured in a stunning misty sunrise
CREDIT: RACHELBAKER/BNPS

Ocean Photographer of the Year winner Aimee Jan. A green turtle, surrounded by glass fish. “I was out snorkelling when one of my colleagues told me there was a turtle under a ledge in a school of glass fish, about 10 metres down,” says photographer Aimee Jan. “When I dived down to look, the fish separated around the turtle perfectly. I said to her: ‘I think I just took the best photo I have ever taken’.” Ningaloo Reef, Western Australia
CREDIT: AIMEE JAN

Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed al-Nahyan inspects the Grenadier Guards in London
CREDIT: REUTERS/HANNAH MCKAY
Market Closes for September 16^th, 2021

International Markets

Bonds

Currencies

Commodities

Market Commentary:
On this date in 1777, the merchant banker Nathan Mayer Rothschild was born in a decrepit, eight-foot-wide house in the Judengasse ghetto of Frankfurt, Germany, to Mayer Amschel Rothschild, a mail-order antique dealer, and Gutle Schnapper Rothschild.
Canada
By Michael Bellusci
(Bloomberg) — The S&P/TSX Composite fell 0.4% at 20,602.10 in Toronto.
     The move follows the previous session’s increase of 0.7%.
Silver tumbled to the lowest since December as signs of a robust economic recovery spurred speculation that policy makers could soon reduce stimulus.
     Gold dropped to the lowest in more than a month.
Today, materials stocks led the market lower, as 7 of 11 sectors lost; 140 of 229 shares fell, while 84 rose.
     Barrick Gold Corp. contributed the most to the index decline, decreasing 4.0%. Endeavour Silver Corp. had the largest drop, falling 6.6%.
Insights
* This year, the index rose 18 percent, heading for the best year since 2019
* This quarter, the index rose 2.2 percent
* So far this week, the index was little changed
* The index advanced 26 percent in the past 52 weeks. The MSCI AC Americas Index gained 33 percent in the same period
* The S&P/TSX Composite is 1.4 percent below its 52-week high on Sept. 7, 2021 and 33.6 percent above its low on Oct. 30, 2020
* The S&P/TSX Composite is down 0.5 percent in the past 5 days and rose 0.6 percent in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 19.4 on a trailing basis and 16.5 times estimated earnings of its members for the coming year
* The index’s dividend yield is 2.5 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.26t
* 30-day price volatility rose to 6.49 percent compared with 6.33 percent in the previous session and the average of 7.07 percent over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Materials | -70.2601| -3.0| 5/49
Energy | -14.6445| -0.6| 5/17
Industrials | -12.6513| -0.5| 13/16
Consumer Discretionary | -10.7689| -1.4| 4/8
Utilities | -3.7423| -0.4| 3/11
Consumer Staples | -2.2164| -0.3| 7/6
Health Care | -1.2096| -0.6| 3/5
Real Estate | 0.3139| 0.0| 14/11
Communication Services | 1.2542| 0.1| 4/3
Information Technology | 10.0585| 0.4| 7/5
Financials | 12.1827| 0.2| 19/9
================================================================
| | |Volume VS| YTD
|Index Points| | 20D AVG | Change
Top Contributors | Move |% Change | (%) | (%)
================================================================
Barrick Gold | -12.1500| -4.0| 99.2| -18.1
Wheaton Precious | | | |
Metals | -9.8180| -5.6| 61.9| -0.7
Magna International | -9.1220| -4.7| 33.9| 7.3
Nuvei | 4.0450| 6.6| 45.2| 125.0
TD Bank | 5.5830| 0.5| -17.7| 15.3
Shopify | 6.9860| 0.5| -27.3| 30.1
US
By Vildana Hajric
(Bloomberg) — U.S. stocks closed mostly lower after swinging between gains and losses ahead of tomorrow’s expiration of options and futures, a quarterly event that usually brings increased volume and volatility.
     Treasury yields rose for a second day and the dollar strengthened.
The materials and energy sectors lead the S&P 500 lower a day after the index posted its biggest gain since August on Wednesday.
     The equity market benchmark is down about 1% this month amid lingering concern about a broader pullback in the wake of a string of record gains.
     The Nasdaq Composite finished in positive territory for a second day following a five-session slide.
“After seven months of gains, equity markets have been choppier mid-way through September,” said Keith Lerner, chief market strategist at Truist Advisory Services.
     “This is actually quite normal from a historical seasonal standpoint, though the ongoing carousel of concerns continues.”  Markets fluctuated as investors weighed the impact of mixed economic data on the Federal Reserve’s plans to taper stimulus. Fed policy makers meet next week.
Retail sales unexpectedly increase in August, suggesting that demand for goods remains strong.
     A separate report showed weekly jobless claims increased.
“It remains to be seen if this will reverse the slight downward trend we’ve seen in the market these past few weeks,”  said Mike Loewengart, managing director of investment strategy at E*Trade Financial.
Meanwhile, casino stocks with operations in Macau extended drops amid the government’s tightening grip on the gambling hub.
Travel and leisure companies led gains in Europe’s Stoxx 600 Index as Ryanair Holdings Plc lifted its growth target.
Investors continue to assess the outlook for economic reopening amid the delta virus strain outbreak and rising costs fueled by higher commodity prices and pandemic-related supply snarls.
     The United Nations said the global economy is expected to undergo its fastest recovery in almost five decades this year, but warned about deepening inequities between advanced and developing nations.
“Investors are really trying to weigh the tug-of-war of concerns between how soon will the Fed taper,” said Art Hogan, chief strategist at National Securities.
Shares fell in Asia, where the debt crisis at China Evergrande Group and Beijing’s latest push to rein in private industries hurt sentiment. Technology stocks slid as China slowed approvals for video games to enforce stricter criteria for content. 
     Some of the main moves in markets: 
Stocks
* The S&P 500 fell 0.2% as of 4:08 p.m. New York time
* The Nasdaq 100 was little changed
* The Dow Jones Industrial Average fell 0.2%
* The MSCI World index fell 0.2%
Currencies
* The Bloomberg Dollar Spot Index rose 0.4%
* The euro fell 0.4% to $1.1767
* The British pound fell 0.3% to $1.3795
* The Japanese yen fell 0.3% to 109.70 per dollar
Bonds
* The yield on 10-year Treasuries advanced four basis points to 1.33%
* Germany’s 10-year yield was little changed at -0.30%
* Britain’s 10-year yield advanced four basis points to 0.82%
Commodities
* West Texas Intermediate crude was little changed
* Gold futures fell 2.3% to $1,754.20 an ounce
–With assistance from Elaine Chen.

Have a lovely evening.

Be magnificent!

As ever,

Carolann

Any idiot can face a crisis—it’s this day-to-day living that wears you out. -Anton Chekov, 1860-1904.

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