Morning Notes

26/06/2017 Argonaut Morning Note

The S&P 500 rose Friday and posted a second straight week of gains, as a rise in health-care stocks offset a drop in energy shares in recent sessions. Though the S&P 500's health-care sector slipped Friday, it notched its biggest weekly rise since the presidential election. Shares of pharmaceutical companies and biotechnology firms jumped this past week following some encouraging data on drug development.

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23/06/2017 Argonaut Morning Note

U.S. stocks fell slightly as health-care shares jumped and oil prices stabilized. The Dow Jones Industrial Average shed 13 points, or 0.1%, to 21397. The S&P 500 and Nasdaq Composite finished relatively flat. Health-care shares, the best-performing sector in the S&P 500 this week, extended gains as Senate Republicans unveiled their health-care bill. The bill faces an uncertain future with several Republican senators wavering on it, but its release was a key step for President Donald Trump's agenda, some said. The removal of uncertainty on the health bill's contents and few apparent negatives for hospital and health-care stocks were likely contributing to the sector's gains Thursday, said Timothy Anderson, managing director at brokerage MND Partners. Health-care shares rose 1.5% and the Nasdaq Biotechnology Index, which is up roughly 10% so far this week, gained 1.9% Thursday. Energy shares also rose after falling alongside oil prices in recent sessions. The U.S. gold price also gained overnight, jumping 0.3% to 1,250.00 US$/oz.

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22/06/2017 Argonaut Morning Note

The Dow Jones Industrial Average headed toward its second day of losses as oil prices resumed their slide, pulling energy shares lower. The blue-chip index has wobbled since oil fell into a bear market on Tuesday, renewing concerns among analysts that there could be a more severe pullback in commodity prices. Energy stocks, the worst-performing sector in the S&P 500 this year, have fallen more than any other group in the broad index so far this week. The Dow industrials fell 57 points, or 0.3%, to 21410.

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21/06/2017 Argonaut Morning Note

U.S. stock indexes edged lower intraday as oil prices fell to their lowest levels of the year, pressuring the shares of energy companies. Stock losses were broad, pulling nine of the S&P 500's 11 sectors lower for the day. The S&P 500 and Dow Jones Industrial Average were on course to post declines after both indexes climbed to fresh closing records Monday. Energy stocks in the S&P 500 fell 1.3%, deepening losses for the index's worst-performing sector of the year. Fresh fears over increasing supply sent U.S. crude oil down 2.7% to $43.24 a barrel, around its lowest levels since November. The Dow Jones Industrial Average fell 62 points to 21,467. The Nasdaq Composite lost 0.4%, and the S&P 500 was down 0.7% at 2,437. The U.S. gold price hovered around the flat line shedding 0.1% to finish at 1,242.60 US$/oz.

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20/06/2017 Argonaut Morning Note

Gains in technology shares propelled U.S. stocks higher Monday. The Dow Jones Industrial Average added 120 points, or 0.6%, to 21505, and the S&P 500 index added 0.7%, on track for fresh records. The Nasdaq Composite climbed 1.3%. Technology shares in the S&P 500 have risen about 19% this year, making tech the index's best-performing sector, but the stocks also have had some recent slumps. Shares of tech companies in the S&P 500 rose 1.6%, headed toward their biggest one-day advance since December. The U.S. gold price settled down at 1,243.60 US$/oz overnight.

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