Jan. 2, 2015

 

RECAP OF 2014 RETURNS

December 31, 2013 December 31, 2014 % Return
TSX 13,621.55 14,632.44 7.42%
Dow Jones Industrial Avg 16,576.66 17,823.07 7.52%
NASDAQ 4176.59 4,736.05 13.40%
S&P 500 1848.36 2,058.90 11.39%
Canadian Dollar 94.13 86.04 (8.59%)
Oil $98.45 $53.27 (45.89)
Natural Gas $4.19 $2.90 (30.79%)
Gold $1,202.30 $1,184.10 (15.14%)

OIL

  • December 30th, the Obama administration granted permission to some companies to sell some oil products abroad ending a 40 year ban.
  • Exelerate Energy has cancelled its 8 million tonne per annum LNG export project in Texas which was due to begin exports in 2018.
  • There are 13 other U.S. LNG projects which have not signed up enough international buyers to reach a final decision.
  • S. oil drillers idled 37 more rigs in the week ended December 26th, bringing the 3 week decline to 76, the most idled in 2 years leaving 1,499 rigs operating.

EUROPE

  • ECB President, Mario Draghi said “the risk that we don’t fulfill our mandate of price stability is higher than it was 6 months ago”.
  • Spanish December consumer prices fell 1.1%, the largest decline since July 2009.
  • Greece will hold a general election on January 25, 2015 increasing doubt on its international bailout.
  • Foreign Ministers from Russia, Ukraine, Germany and France had a phone call today and stressed the need for another meeting to resolve the crisis in Ukraine.

AMERICAN CANCER SOCIETY – ANNUAL STATISTICS

  • An estimated 1.7 million Americans will be diagnosed with malignancies and 589,430 will die from them in 2015 (roughly 1,600 per day).
  • Cancer is the leading cause of death in Americans age 40 to 79.
  • 4 types of cancer account for 50% of all cancers in the US: prostate, breast, lung, and colorectal.
  • Death rates from breast cancer are down by 1/3 from their peak while prostate and colon cancer deaths are down by 50%.

TIDBITS

  • S. renters paid $441 billion for apartments and houses this year, up $20.6 billion from 2013. The number of rental households grew 2% during 2014.
  • Italy’s wine output likely dropped 14% in 2014 due to a rainy summer.
  • Japan will cut the tax rate on corporate income by 3.29% over the next 2 years taking them to 31.71%.