Morning Notes

29/01/2018 Argonaut Morning Note

U.S. stocks extended their weekslong rally and the dollar resumed its slide Friday, capping a week of increased volatility. Major U.S. indexes were lifted by a new batch of strong corporate earnings reports and fresh data showing continued economic growth around the world, while intraday stock swings picked up slightly. The S&P 500 rose 33.62 points, or 1.2%, to 2872.87 Friday, surging into the close for its 14th record in January. That marks the most records for the S&P 500 in a single month since June 1955.

read more...

25/01/2018 Argonaut Morning Note

Major U.S. stock index wobbled Wednesday, weighed down by concerns of a pickup in trade tensions. The Dow Jones Industrial Average recently edged higher after paring its gain of roughly 182 points earlier in the session. Stocks slid late in the morning after U.S. Commerce Secretary Wilbur Ross accused Beijing of employing protectionist actions under the guise of free trade.

read more...

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.

read more...

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%.

read more...

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.

read more...