Morning Notes

22/09/2017 Argonaut Morning Note

Declines in shares of technology and consumer-staple stocks intraday threatened to end major indexes' run of recent gains. Some investors and analysts attributed the stall in the stock market to lingering uncertainty after the Federal Reserve suggested Wednesday that it was open to the possibility of an interest-rate increase in December. A streak of soft inflation data had made some investors skeptical the Fed would raise rates again in 2017. The fact that the central bank signaled otherwise caught some investors off guard.

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21/09/2017 Argonaut Morning Note

U.S. stocks were little changed after the Federal Reserve kept the door open for a December interest-rate hike and eyed a slower path for future increases. The Dow Jones Industrial Average was recently up 9 points, or less than 0.1%, at 22379, after turning negative immediately following the Fed's announcement. The blue-chip index was on track for its ninth straight session of gains. The S&P 500 dropped 0.1% and the Nasdaq Composite fell 0.3%. Financial stocks rose alongside bond yields after the release of the Fed's statement following the central bank's latest two-day meeting. The S&P 500 financial sector was recently up 0.9%, compared with up 0.1% before the announcement.

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20/09/2017 Argonaut Morning Note

U.S. stocks edged higher intraday ahead of a coming Federal Reserve policy decision, putting major indexes on track for record closes. Stock trading has been relatively muted in recent sessions, as easing geopolitical concerns and steady global growth have given investors few reasons to unload stocks. The subdued trading environment continued, with the S&P 500 on track to notch its smallest intraday range since December 2013. Investors appeared to be holding off on making new bets ahead of the Fed's upcoming policy announcement.

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19/09/2017 Argonaut Morning Note

Gains in financial shares put the Dow Jones Industrial Average on track to extend its record streak. Stocks traded in a narrow range Monday, continuing a recent pattern of mostly quiet trading. With the third-quarter earnings season yet to begin in earnest, and several potential risks - including a potential Republican tax proposal and a Federal Reserve meeting - on the horizon, there are few reasons to make big moves. Still, stocks should continue grinding higher as long as data suggests growth in the U.S. economy remains solid, analysts said. The Dow industrials rose 72 points, or 0.3%, to 22341, heading toward its seventh consecutive session of gains and its 40th closing high of the year.

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18/09/2017 Argonaut Morning Note

The Dow Jones Industrial Average posted its biggest one-week gain of the year, capping off a stretch that included four consecutive record closes. Major indexes have risen in recent sessions, with the S&P 500, Dow industrials and Nasdaq Composite notching fresh closing highs together on Tuesday and Wednesday. Fears around worst-case scenarios for storm damage that had pressured stocks last week have largely subsided, helping drive stocks and government bond yields higher. Stocks also remained buoyant after the latest provocation from North Korea, which fired a missile over Japan for the second time in a month late Thursday. The Dow industrials rose 0.3%, to 22268.34 on Friday, notching its 39th record of the year and its sixth consecutive session of gains.

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