Morning Notes

18/08/2017 Argonaut Morning Note

U.S. stocks retreated broadly intraday, with retail and technology companies suffering some of the biggest losses. All 30 companies in the Dow Jones Industrial Average were down in recent trading, as were the 11 major sectors of the S&P 500. The Dow industrials declined 179 points, or 0.8%, to 21846, while the S&P 500 shed 1%. The Nasdaq Composite was down 1.3%. Wall Street's "fear gauge," the CBOE Volatility Index, jumped 23%. Major U.S. stock indexes were on track for their biggest declines since last Thursday, when a spate of weak earnings and tensions with North Korea roiled markets around the world.

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17/08/2017 Argonaut Morning Note

U.S. stocks climbed Wednesday, supported by a bounce back in retail shares. The Dow Jones Industrial Average rose 43 points, or 0.2%, to 22042, on pace for a fourth straight session of gains. The S&P 500 gained 0.2%, and the Nasdaq Composite advanced 0.3%. Stocks extended gains slightly after minutes from the Federal Reserve's latest meeting showed officials were split about the timing of future interest rate increases. Some of the session's biggest moves came from brick-and-mortar stores, a day after they were among the worst performers in the S&P 500.

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16/08/2017 Argonaut Morning Note

Retailers tumbled after another round of earnings disappointed investors and shares of financial companies gained, leaving major U.S. stock indexes little changed intraday. The Dow Jones Industrial Average rose 2 points, or less than 0.1%, to 21995. The S&P 500 fell less than 0.1% and the Nasdaq Composite declined around 0.1%. Consumer-discretionary shares in the S&P 500 slid after several large retailers reported quarterly results.

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15/08/2017 Argonaut Morning Note

U.S. stocks jumped Monday, putting the S&P 500 on course for its biggest one-day gain in months. The moves marked a turnaround from last week, when geopolitical tensions and a string of disappointing corporate reports sent the S&P 500 and Dow Jones Industrial Average to their steepest weekly declines since March. The swings punctured what had been a streak of largely listless trading for the stock market. Yet solid corporate earnings, stronger-than-expected economic data from Japan, and some easing of fears of conflict between North Korea and the U.S. helped stocks climb again Monday.

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14/08/2017 Argonaut Morning Note

U.S. stocks rose Friday but still notched their biggest weekly loss in months, as investors were shaken by disappointing earnings results and an escalation of threats between the U.S. and North Korea. The rhetoric, which began late Tuesday and continued into Friday, interrupted stocks' march higher and cracked the calm that has enveloped the market for months. The Dow Jones Industrial Average, which had been steadily hitting records, posted its biggest decline since May on Thursday, while the CBOE Volatility Index, known as Wall Street's "fear gauge," rose to its highest level of the year.

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