Morning Notes

19/01/2018 Argonaut Morning Note

U.S. stocks edged lower Thursday, as weakening bond prices pulled down yield-sensitive sectors such as real-estate companies and utilities. The Dow Jones Industrial Average fell 0.3% in recent trading, while the S&P 500 declined 0.2%. The Nasdaq Composite was down 0.1%. The rally that sent stocks to a series of fresh records this year took a pause a day after the Dow industrials closed above 26000 for the first time.

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18/01/2018 Argonaut Morning Note

Widespread gains had the Dow Jones Industrial Average on track to close above 26000 for the first time Wednesday following a spate of bank earnings and corporate updates. The Dow industrials notched their best first 10 trading days of the year since 2003 Tuesday, helped by signs of an accelerating global economy. Some investors have said they expect a favourable economic and earnings backdrop to continue lifting stocks as the year progresses.

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17/01/2018 Argonaut Morning Note

The Dow Jones Industrial Average surged above 26000 for the first time Tuesday but gave up those gains as shares of energy companies slid along with oil prices. The blue-chip index crossed the latest 1000-point milestone soon after the opening bell and rose as much as 283 points, but it later turned lower finishing at 25,793. It closed above 25000 seven trading sessions ago, and, if it reaches the milestone Tuesday, it would be the fastest 1000-point leap in its 120-year history. The historic rise builds on the Dow's 25% gain last year and its seemingly unstoppable climb to start 2018. The Dow industrials slipped less than 0.1%, while the S&P 500 declined 0.4% and the Nasdaq Composite fell 0.4%. Meanwhile, shares of energy companies declined, as oil prices, which had been rallying recently, slid. Energy firms in the S&P 500 fell 0.9%, putting them among the broad index's biggest decliners. The monthly unemployment rate has held at a 17-year low since October, while gross domestic product, has been expanding at a rate of more than 3% in recent months. The U.S. gold price also slipped overnight, falling 0.1% to finish 1,338 US$/oz.

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16/01/2018 Argonaut Morning Note

U.S. markets were closed Monday for the Martin Luther King Jr. Day holiday, although S&P 500 futures were up 0.2% and Dow Jones Industrial Average futures rose 0.5%. Major U.S. stock indexes closed at record highs on Friday as big banks kicked off the start of the fourth quarter earnings season there, and the Dow industrials posted their first back-to-back 500-point weekly gains since 2000.

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15/01/2018 Argonaut Morning Note

Major U.S. indexes notched a trifecta of records Friday to cap off another meteoric week for stocks. Stocks mostly rose over the last week, as surging optimism around a steadily expanding U.S. economy and expectations that companies will report strong corporate profits for the fourth quarter powered indexes to new heights. The Dow Jones Industrial Average added more than 500 points for a second consecutive week, a first for the blue-chip index in nearly 18 years, as the S&P 500 logged its second straight week of more-than 1% gains.

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