Morning Notes

18/10/2017 Argonaut Morning Note

The Dow Jones Industrial Average briefly crept above 23000 for the first time Tuesday, buoyed by gains in shares of health-care companies. The blue-chip index crossed the milestone in intraday trading before paring gains. The index was 0.1% higher in the last half-hour of trading, just below the 23000 mark, while the S&P 500 edged up less than 0.1% and Nasdaq Composite slipped less than 0.1%. Corporate earnings have helped boost major stock indexes to fresh highs in 2017, and the third quarter is on track to provide more fuel to the market's rise, analysts say. At the end of last month, analysts expected earnings at S&P 500 companies to rise 4.2%, according to FactSet.

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17/10/2017 Argonaut Morning Note

Rising financial shares pushed U.S. stock indexes higher Monday. The Dow Jones Industrial Average rose 0.2%. The S&P 500 added less than 0.1%, and the Nasdaq Composite advanced 0.2%. Recent gains have lifted stocks in the U.S., the U.K., Japan and New Zealand to records. Data have suggested a pickup in global growth is under way, analysts said, helping stocks chug higher even as some investors have expressed concerns about the length of the rally.

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16/10/2017 Argonaut Morning Note

U.S. stocks notched weekly gains and the Nasdaq Composite closed at a record, even as shares of big banks declined. A backdrop of improving global economic growth and the expectation that it will be another strong quarter for corporate earnings has supported stocks, traders say. The march higher comes even as there have been some hiccups in data, from weaker-than-anticipated inflation to job losses in September, and as some investors worry shares look pricey. A measure of U.S. consumer sentiment rose to its highest level since 2004 in the first half of October, according to the University of Michigan on Friday. Rising sentiment suggests increased household spending could follow.

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13/10/2017 Argonaut Morning Note

U.S. stock indexes retreated from records intraday, weighed down by declines in bank stocks. The latest earnings season kicked off in earnest this week, with several large lenders scheduled to report quarterly results through Friday. Investors are watching the reports to gauge not just the health of the U.S. financial system but the outlook from top executives for the final quarter of the year. Strong earnings growth has supported major stock indexes this year, helping the S&P 500 notch 44 record closes and the Dow Jones Industrial Average hit 48 closing highs so far in 2017.

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12/10/2017 Argonaut Morning Note

U.S. stocks rose Wednesday, lifted for the second straight day by shares of consumer-staples companies. Robust earnings growth has buoyed major stock indexes this year, even in the face of recent geopolitical risks. Economic data also has been generally positive, with the Federal Reserve recently signaling its confidence that the U.S. economy was strong enough to support further rate increases. Growth in other parts of the world also has given investors confidence. The Dow Jones Industrial Average added 0.1%. The S&P 500 inched up 0.1% and the Nasdaq Composite advanced 0.1%.

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