Morning Notes

24/01/2018 Argonaut Morning Note

The S&P 500 was on track for a fresh record intraday following the latest raft of corporate earnings. Investors say a rosy economic and policy backdrop has stocks poised to continue marching higher, though some are concerned about the pace of the rally and elevated earnings expectations. Another record close for the S&P 500 would be its 12th this month - the most ever in January, according to WSJ Market Data Group.

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23/01/2018 Argonaut Morning Note

U.S. stocks rose to fresh highs Monday after Senate leaders said they reached a deal to end the federal government shutdown. The Dow Jones Industrial Average added 0.2%. The S&P 500 climbed 0.5% and the Nasdaq Composite rose 0.7%, with all three indexes heading toward record closes. Investors had largely shrugged off the shutdown, which began after the Senate rejected a one-month spending bill late Friday night and by Monday afternoon looked close to ending. U.S. government bonds inched lower, while the WSJ Dollar Index, which tracks the dollar against a basket of 16 other currencies, ticked down 0.1%.

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22/01/2018 Argonaut Morning Note

The S&P 500 rose to a fresh record as investors focused on corporate earnings and largely brushed off the threat of a U.S. government shutdown. The index is up 5.1% in 2018, its best 13-day start to a year since 1987. The recent leg higher has been marked by investors' fervour for stocks, propelling what some analysts are referring as a "melt-up," which is commonly defined as a period of sudden stock-market gains. The start of fourth-quarter earnings season is also assisting in lifting major indexes, as investors have embraced better-than-expected results and optimistic corporate guidance.

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19/01/2018 Argonaut Morning Note

U.S. stocks edged lower Thursday, as weakening bond prices pulled down yield-sensitive sectors such as real-estate companies and utilities. The Dow Jones Industrial Average fell 0.3% in recent trading, while the S&P 500 declined 0.2%. The Nasdaq Composite was down 0.1%. The rally that sent stocks to a series of fresh records this year took a pause a day after the Dow industrials closed above 26000 for the first time.

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18/01/2018 Argonaut Morning Note

Widespread gains had the Dow Jones Industrial Average on track to close above 26000 for the first time Wednesday following a spate of bank earnings and corporate updates. The Dow industrials notched their best first 10 trading days of the year since 2003 Tuesday, helped by signs of an accelerating global economy. Some investors have said they expect a favourable economic and earnings backdrop to continue lifting stocks as the year progresses.

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