Morning Notes

05/02/2018 Argonaut Morning Note

A rare burst of volatility jolted financial markets and sent stocks tumbling Friday, a sharp shift from the tranquillity that has characterized much of the market's nearly nine-year bull-market run. The Dow Jones Industrial Average dropped 2.5%, its biggest one-day decline since the U.K.'s surprise vote to leave the European Union in June 2016. The Dow fell 665.75 points to 25520.96 Friday, its biggest one-day point drop since December 2008. For the week, the blue-chip index fell nearly 1100 points, the most since the throes of the financial crisis in October 2008, taking many traders, analysts and investors by surprise.

read more...

02/02/2018 Argonaut Morning Note

U.S. stocks bounced higher intraday, heading for a second day of gains, as investors parsed a flurry of earnings reports. The Dow Jones Industrial Average rose 107 points, or 0.4%, to 26255. The S&P 500 added 0.3% and the Nasdaq Composite advanced 0.2%. Major indexes stumbled earlier this week, puncturing what had been an unprecedented streak of gains for U.S. stocks, as government bond yields hit multiyear highs.

read more...

01/02/2018 Argonaut Morning Note

The S&P 500 gave up earlier gains Wednesday after the Federal Reserve left interest rates unchanged but reiterated plans to gradually raise them moving forward. Concerns about higher inflation and less accommodative central-bank policy have led to a pause in this year's torrid stock-market rally. The Fed's statement Wednesday said officials expect inflation will move higher this year and stabilize around 2% over the medium term. Some analysts said they think investors are bracing for the possibility of a more aggressive central bank, pushing up Treasury yields and weighing on stocks.

read more...

31/01/2018 Argonaut Morning Note

The Dow Jones Industrial Average briefly dropped more than 400 points intraday, a second straight day of double-digit declines, as worries over rising bond yields and a slide in the health-care shares pushed investors to the sidelines. The blue-chip index declined 385 points, or 1.5%, to 26054, on track for its worst day since May, after earlier falling as much as 404 points. The S&P 500 dropped 1.1% and is set for its first daily decline of more than 1% since August.

read more...

30/01/2018 Argonaut Morning Note

U.S. stock indexes retreated from record highs Monday, weighed down by falling utilities and real-estate shares. The Dow Jones Industrial Average fell 0.3%, backing away from Friday's all-time high. The S&P 500 lost 0.3%, while the Nasdaq Composite ticked down 0.2%. Investors are looking ahead to the Federal Reserve's two-day monetary policy meeting later this week, as well as President Donald Trump's first State of the Union address and data on manufacturing and unemployment.

read more...