Morning Notes

19/02/2018 Argonaut Morning Note

The Dow Jones Industrial Average and S&P 500 edged higher Friday to extend their rebound as stocks showed firm signs of regaining their footing after tumbling earlier this month. The blue-chip index gained 4.3% over the past five trading days to notch its best week since President Donald Trump's election, while the S&P 500's 4.3% move upward was its biggest weekly jump since 2013. The indexes were on pace for an even bigger rally, but they pared gains--and Nasdaq Composite turned lower--Friday afternoon when a Russian organization and several individuals were charged with interfering in the U.S. electoral process. Still, the Nasdaq had risen enough earlier in the week to add 5.3%, its biggest gain in seven years. Jitters about the threat of rising inflation subsided this week, as many investors said strong economic growth and robust corporate profits should support major indexes' move higher, similar to the sentiment for much of last year. The Dow industrials added 19 points, or less than 0.1%, to 25,219, despite rising as much as 232 points earlier in the day. The S&P 500 gained 1.02 points, or less than 0.1%, to 2732.22, while the Nasdaq declined 16.96 points, or 0.2%, to 7239.47. The U.S. gold price finished the week of slightly lower, falling 0.5% at 1346.50 US$/oz.

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16/02/2018 Argonaut Morning Note

U.S. stocks extended their rebound in a broad rally of 10 of the S&P 500's 11 sectors. Major stock indexes are on track for their best weekly performance since the presidential election, a sharp reversal following two of their worst weeks since early 2016. Many investors and analysts have pointed to strengthening fundamentals - such as corporate earnings and economic growth - as reasons for the rebound. But they also say they worry about stocks racing back to record highs. The Dow Jones Industrial Average rose 307 points, or 1.2%, to 25,200. The S&P 500 also added 1.2%, and the Nasdaq Composite gained 1.6%. The U.S. gold price also continued its strength overnight, rising 0.2% to 1,353.30 US$/oz.

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15/02/2018 Argonaut Morning Note

U.S. stocks climbed for a fourth consecutive session Wednesday, stabilizing despite further signs of an anticipated boost in inflation and at least temporarily easing fears of a prolonged market downturn. Consumer prices increased more than expected in January, another data point showing inflation is firming after a long run of softness. But some analysts highlighted the rise was largely driven by higher prices for gasoline, rent and apparel, which are more volatile.

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14/02/2018 Argonaut Morning Note

Major U.S. stock indexes edged slightly higher intraday, rising for a third consecutive session, though investors remained on edge ahead of a key report on inflation. The Dow Jones Industrial Average fell as much as 180 points earlier in the session before giving up those losses to eke out a slight gain later in the day. Despite the intraday swing, investors appeared to avoid making any drastic trades ahead of Wednesday's Bureau of Labor Statistics report on consumer prices.

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13/02/2018 Argonaut Morning Note

U.S. stocks bounced higher Monday following two bruising weeks, lifted by a rally in shares of oil-and-gas companies. The Dow Jones Industrial Average jumped 411 points, or 1.6%, to 24602, following its largest one-week percentage decline in more than two years. The S&P 500 rose 1.4% and the Nasdaq Composite added 1.5%. Monday's gains were broad, lifting 10 of the S&P 500's 11 sectors higher for the day.

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