Morning Notes

29/11/2017 Argonaut Morning Note

Surging shares of financial companies helped put major indexes intraday on track to notch another series of record closes. Banks and insurance companies drove the financial sector of the S&P 500 more than 2% higher - on pace for its best day in months. Shares of financial companies, which had been trading higher early in the session, got a boost after Jerome Powell indicated the Federal Reserve was likely to raise short-term interest rates next month.

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28/11/2017 Argonaut Morning Note

The S&P 500 paused Monday, weighed down by a pullback in shares of energy companies. Major indexes struggled for traction Monday, with the S&P 500 and Nasdaq giving up early gains to trade mostly lower in the second half of the session. Shares of retailers jumped following the weekend's holiday sales, while oil-and-gas companies fell along with U.S. crude prices. With major indexes still up double-digit percentages for 2017, some analysts said it was not surprising to see the momentum in U.S. stocks falter a bit heading into year-end.

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27/11/2017 Argonaut Morning Note

U.S. stocks capped off a quiet stretch of holiday trading with a weekly gain. Activity in the stock market has been muted in recent sessions, with U.S. trading closed Thursday in observance of Thanksgiving and the market shutting early Friday. Still, major indexes have generally continued to extend their 2017 rally, with advances in shares of industrial, technology and consumer-discretionary companies lifting the S&P 500, Dow Jones Industrial Average and Nasdaq Composite to fresh records this week. The S&P 500 rose 5.34 points, or 0.2%, to 2602.42, closing above the 2600 level for the first time.

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24/11/2017 Argonaut Morning Note

U.S. markets were closed Thursday for the Thanksgiving holiday. The U.S. gold price traded slightly lower overnight, pulling back 0.1% to close at 1,290.60 US$/oz. A broad gauge of European stocks steadied at the end of trade Thursday, after spending the session struggling to find firm direction. But French blue-chip shares climbed after data showed the country led the strengthening in the eurozone economy this month. The Stoxx Europe 600 closed up less than 1 point at 387.12 after a topsy-turvy session for European equities.

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23/11/2017 Argonaut Morning Note

U.S. stocks stalled Wednesday ahead of the Thanksgiving holiday, as declines among technology and financial firms weighed on major indexes. The Dow Jones Industrial Average declined 0.2%, while the S&P 500 fell less than 0.1% after briefly breaching the 2600 milestone for a second consecutive session during intraday trading. The Nasdaq Composite gained 0.1%, putting it on track for another record close. While trading volumes have slowed ahead of the holiday on Thursday, stocks remain near their peaks and many expect indexes to continue their grind higher through the rest of this year and in 2018.

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