Morning Notes

01/11/2017 Argonaut Morning Note

Shares of Mondelez International, Kellogg and other food companies helped the S&P 500 edge higher intraday, putting the index on track for its best month since February. Corporate earnings continued to dictate the market's biggest moves, with companies generally being rewarded by investors when they beat expectations for the most recent quarter. More than half of S&P 500 companies already have released results and another big batch is scheduled to report this week, including Facebook on Wednesday and Apple on Thursday. The S&P 500 was recently up 0.2% and has risen 2.3% for the month so far.

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31/10/2017 Argonaut Morning Note

U.S. stocks inched lower at the start of a busy week set to include another round of earnings results, the monthly U.S. jobs report and policy decisions from central banks around the world. Major indexes hovered between small gains and losses at the start of the session, then extended declines throughout the trading day. The Dow Jones Industrial Average lost 0.3%. The S&P 500 fell 0.3% and the Nasdaq Composite edged down 0.1%. Analyst downgrades weighed on shares of retailers, which have come under pressure this year as foot traffic has declined at many brick-and-mortar stores.

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30/10/2017 Argonaut Morning Note

A busy week of robust corporate earnings lifted the S&P 500 and Nasdaq Composite to new highs Friday. More than half of companies in the S&P 500 have reported third-quarter results as of Friday afternoon, and more than three-quarters of those results have surpassed analyst expectations, according to FactSet. Standout corporate results, which ranged from machinery maker Caterpillar to technology stalwart Microsoft, drove broader stock-market gains. Among the best performers during the week were Google's parent Alphabet and Amazon.com, both of which reported strong revenue. Earlier in the week, Twitter shares jumped after the social-media company said it added more new monthly users than analysts expected and boosted its guidance for the fourth quarter. On Friday, shares of Intel climbed $3.05, or 7.4%, to $44.40 after the company lifted its guidance.

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27/10/2017 Argonaut Morning Note

U.S. stocks were mostly higher Thursday after several companies reported upbeat earnings and European Central Bank officials unveiled plans to scale down but extend their bond-buying program. Corporate results continued to drive swings in individual U.S. stocks in one of the busiest days for third-quarter reports. Without geopolitical developments or major legislative changes in Washington, D.C., money managers say they are closely following earnings season. The Dow Jones Industrial Average was up 0.3% in the last half-hour of trading, recouping some of the losses suffered Wednesday. The S&P 500 rose 0.1%, while the Nasdaq Composite fell less than 0.1%.

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26/10/2017 Argonaut Morning Note

A raft of downbeat earnings sparked broad declines in U.S. stocks Wednesday, sending the Dow industrials down more than 100 points and putting the blue-chip index on track for its worst session in weeks. Results from American companies have generally been solid, investors and analysts said. But after several quarters of strong earnings, some cautioned that expectations are high, which could limit gains in stocks. The Dow Jones Industrial Average fell 0.5%. The S&P 500 declined 0.6%, with all 11 sectors falling, and the Nasdaq Composite shed 0.7%.

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