Morning Notes

22/11/2017 Argonaut Morning Note

Shares of Apple and other technology companies climbed intraday, putting major indexes on track to notch fresh records. Investors looking to eke out additional gains before the end of the year flocked to tech stocks, some money managers said, pushing shares in those businesses in the S&P 500 up more than 1% Tuesday. Tech firms, a big contributor to the market's rally this year, are on pace to post double-digit gains for the quarter. The market's recent upswing has helped offset losses suffered over the last two weeks among stocks in the Dow industrials and the S&P 500, underscoring the rally's strength amid concerns about lofty valuations and the unclear prospects for Republican tax-overhaul efforts.

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21/11/2017 Argonaut Morning Note

Gains in industrial shares helped push the Dow Jones Industrial Average higher on Monday. Major indexes started the day little changed, then extended gains throughout the afternoon. With the U.S. stock market closed Thursday in observance of Thanksgiving and few major economic reports on the docket this week, some analysts and investors say trading is likely to be relatively quiet over the next couple of days. The Dow industrials climbed 0.4%. The S&P 500 added 0.2% and the Nasdaq Composite rose 0.1%.

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20/11/2017 Argonaut Morning Note

U.S. stocks slipped Friday, dragging the S&P 500 and Dow Jones Industrial Average to narrow weekly losses. That marks the second-straight week of declines for both indexes, which previously had been on a two-month-long stretch of gains, boosted by strong corporate earnings and solid economic growth around the world. But with the S&P 500 up more than 15% so far this year, some investors are asking how long the upswing can last. Major indexes have wobbled over the past several sessions, hurt by a drop in the price of oil even as consumer companies have risen.

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17/11/2017 Argonaut Morning Note

Soaring Wal-Mart shares and the passage of a tax-overhaul bill in the House helped send U.S. stock indexes toward their biggest gains since September intraday. The moves reflected what has powered much of this year's rally: improving profits and sales at American companies, plus the prospect that corporate tax cuts could boost earnings even further. After the S&P 500 posted its steepest one-day decline since September a day earlier, investors snapped up shares across several sectors of the stock market. Some of the biggest gainers: groups that have struggled this year, such as consumer staples companies, and technology stocks, major contributors to this year's gains. The Dow Jones Industrial Average added 187 points, or 0.8%, to 23458, while the S&P 500 also rose 0.8%. The Nasdaq Composite rose 1.4%. The U.S. gold price finished ever so slightly up for the day’s trading at 1,278.1 US$/oz.

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16/11/2017 Argonaut Morning Note

Stocks and commodities extended declines Wednesday as investors dialled back on riskier assets. Investors have enjoyed a broad run-up in markets around the world this year that has sent major stock indexes to records and prices of oil and raw materials to multi-year highs. Declines are natural after such a strong rally and the peak of earnings season, some investors and analysts said. The Dow Jones Industrial Average fell 0.6% to 23271. The S&P 500 fell 0.6% after posting its lowest close this month on Tuesday, and the Nasdaq Composite declined 0.4%. The Dow industrials and S&P 500 experienced their fourth day of declines in the past five sessions. The U.S. gold price also lost some ground overnight, shedding 0.1% to 1,278.5 US$/oz.

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