Morning Notes

20/04/2018 Argonaut Morning Note

On US markets, consumer-staples stocks tumbled intraday, pulling the S&P 500 lower as investors showed signs of fatigue after three straight days of gains. Investors were jarred by the weak performance of some of the world's biggest consumer product companies that reported earnings results. That sent shares of those companies into a tailspin. Although investors have been more muted in their response to companies that are reporting stronger-than-expected results so far, those that miss expectations or offer weak guidance have faced a harsh rebuke from investors. The S&P 500 fell 0.6% in recent trading, while the Dow Jones Industrial Average slipped 83 points, or 0.3%, to 24665. The US gold price rose overnight by 0.3% to finish at 1,345.30 US$/oz.

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19/04/2018 Argonaut Morning Note

The S&P 500 rose for the third straight session Wednesday, lifted by gains in industrial firms and a continued rise in commodity prices. Some investors have said worries about strikes in Syria have faded into the background in recent sessions, putting the spotlight on robust corporate earnings growth. Despite those sources of market stress and a turbulent start to the year, some investors expect strong first-quarter results to boost stocks. The S&P 500 was on track for its ninth day of gains in the past 12 sessions, and the Dow industrials on Tuesday climbed back into positive territory for 2018. The S&P 500 added 0.2% Wednesday. The Dow Jones Industrial Average was down 39 points, or 0.2%, at 24748, and the Nasdaq Composite edged up 0.2%. With 10% of the S&P 500 companies having reported quarterly results as of Wednesday morning, roughly 80% of them have beaten analyst earnings and sales expectations. Gains in airline stocks propelled the index's industrials sector to a 1.3% gain. U.S. crude oil surged to around a fresh three-year high and lifted shares of energy firms. The US gold price rose overnight by 0.1% to finish at 1,349.20 US$/oz.

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18/04/2018 Argonaut Morning Note

U.S. stocks rose intraday, driven by strong corporate results, sending the Dow industrials back into positive territory for 2018. The gains extended Monday's rally and put major indexes on track for their eighth day of gains in the past 11 trading sessions. Volumes, however, have been light, suggesting some investors are remaining on the sidelines as geopolitical tensions simmer. The Dow Jones Industrial Average climbed 214 points, or 0.9%, to 24787. The S&P 500 added 1.1%, and the tech-heavy Nasdaq rose 1.7%. Helping boost sentiment, Netflix shares jumped 9.8% after Netflix reported subscriber growth that beat its own forecast. The stock is by far the best performer in the S&P 500 this year, up 76%. The U.S. gold price rose overnight, jumping 1.7% to 1,347.20 US$/oz.

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17/04/2018 Argonaut Morning Note

The Dow Jones Industrial Average gained 0.9% in recent trading. The S&P 500 added 0.8%, while the Nasdaq Composite rose 0.6%.  The Dow Jones Transportation Average, an index of 20 of the largest U.S. airlines, railroads and trucking firms, climbed 2.2%, its biggest gain in more than a month. Several banks on Friday saw their share prices fall after reporting strong earnings, including JPMorgan Chase, for example. On Monday though, investors appeared willing to temporarily put those concerns aside. Shares of J.B. Hunt rose 6.3%, the most of any other stock in the S&P 500. Logistic firm C.H. Robinson Woldwide added 3.5%, while rail-road operators Norfolk Southern and Kansas City Southern gained 1.5% each.  The US Gold price gained 0.01% to finish at 1345.50 $USD

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Argonaut Morning Note 16th of April 2018

U.S. stocks slipped Friday but notched gains for the week, buoyed by rallying energy shares and signs that a trade spat between the world's top economies was easing. Despite the day's losses, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite each rose more than 1% for the week, thanks to a rebound in technology shares that had been hit hard in March, as well as a jump in energy shares. While bank shares fell Friday, a move some attributed to investors largely pricing in robust results ahead of the earnings reports as well as concerns over continuing investigations at Wells Fargo, the KBW Nasdaq Bank Index of large U.S. lenders ended the week up 1.2%. The Dow industrials fell 122.91 points, or 0.5%, to 24360.14, while the S&P 500 lost 7.69 points, or 0.3%, to 2656.30 and the Nasdaq Composite declined 33.60 points, or 0.5%, to 7106.65. One of the best-performing sectors in the S&P 500 for the week was technology, where shares took a hit last month as backlash over Facebook's handling of user data raised fears among investors of tighter regulations. Energy shares in the S&P 500 gained 1.1% Friday, boosted by a rally in oil prices. The US gold Price gained 0.83% to finish at 1345.40 $USD on Friday.

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