Morning Notes

29/09/2017 Argonaut Morning Note

Rising shares of chemical and health-care companies helped lift the S&P 500 on Thursday. Trading activity was relatively muted as investors appeared to take advantage of some recent pullbacks, and gauge the likelihood that Republicans would pass their proposal to overhaul the tax code. The S&P 500 continued its trend of trading in a narrow range, up less than 0.1% in the last half-hour of trading after being down slightly earlier in the session. The Dow Jones Industrial Average was recently up 0.2% while the Nasdaq Composite shed 0.1%. Shares of tech companies and financial firms were little changed Thursday after they helped lift indexes higher a day earlier, ending a four-session losing streak for the Dow industrials.

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28/09/2017 Argonaut Morning Note

A surge in shares of financial companies lifted major U.S. stock indexes Wednesday. Stocks had pared gains slightly as Republicans' tax plan was unveiled earlier in the session, but the reaction was fairly muted and the day's moves appeared to be driven largely by interest-rate expectations and corporate news. The Dow Jones Industrial Average was recently up 0.2% after rising nearly 87 points earlier. The S&P 500 rose 0.4% and the tech-heavy Nasdaq Composite climbed 1.2%. The plan proposes to sharply reduce tax rates on businesses and many individuals. Investors have cheered a tax overhaul as a potential boon to corporate profits - in particular for smaller firms that generate more revenue domestically - but some analysts said Republicans' inability to repeal the Affordable Care Act has lowered expectations for tax changes.

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27/09/2017 Argonaut Morning Note

Shares of technology companies rose Tuesday, helping major U.S. stock indexes stabilize after Monday's declines. The Dow Jones Industrial Average was up 0.1% a half-hour before the close, while the S&P 500 added 0.2% and the Nasdaq Composite rose 0.3%. The moves came after tensions between North Korea and the U.S. sparked a pullback in U.S. stocks Monday. Without any new major geopolitical developments on Tuesday, investors appeared to be taking advantage of the recent declines.

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26/09/2017 Argonaut Morning Note

Major U.S. stock indexes fell Monday, weighed down by losses in shares of technology companies. Stocks that have helped lead the market higher this year, including Facebook and several chip-makers, were among the day's biggest decliners. Some traders also attributed Monday's slide in major U.S. stock indexes to comments from North Korea's foreign minister, who said Monday that President Donald Trump's latest comments on the country constituted a declaration of war. An exchange of threats between North Korea and the U.S. has pressured major indexes and sent assets considered havens like gold and government bonds higher a few times over the summer.

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25/09/2017 Argonaut Morning Note

The S&P 500 and Dow Jones Industrial Average eked out their second consecutive weekly gains, boosted by a rise in bank shares. Stock moves have been muted in recent sessions, something traders and analysts attributed to a dearth of corporate news ahead of the start of the third-quarter earnings season. The S&P 500 moved 12 points between its weekly peak and its low -- its smallest range since November 2014. In another sign of the calm in the markets, the CBOE Volatility Index, a measure of investors' expectations for swings in the S&P 500, fell Friday for the ninth time in 10 trading sessions.

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