Morning Notes

01/12/2017 Argonaut Morning Note

Shares of financial firms surged intraday, sending the Dow Jones Industrial Average above 24000 for the first time. The Dow industrials was up more than 300 points in recent trading, its biggest gain since March. Shares of financial firms led major indexes higher, as investors closely watched Republicans' progress on the tax overhaul plan. Analysts say banks are among the stocks that would benefit from the plan's proposed corporate tax cut since they tend to pay a relatively high tax rate.

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30/11/2017 Argonaut Morning Note

The two biggest slices of the S&P 500-technology companies and financial firms-played tug-of-war with the broader index Wednesday. Banks have led stocks higher this week, with investors saying the sector is benefiting from robust economic growth around the world, gradually rising interest rates and the prospect of tax cuts. The S&P 500's financial sector hit its highest level of the year Wednesday. At the same time, investors pulled back from tech companies, which have gotten pricier as they have fuelled this year's run-up in stocks.

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29/11/2017 Argonaut Morning Note

Surging shares of financial companies helped put major indexes intraday on track to notch another series of record closes. Banks and insurance companies drove the financial sector of the S&P 500 more than 2% higher - on pace for its best day in months. Shares of financial companies, which had been trading higher early in the session, got a boost after Jerome Powell indicated the Federal Reserve was likely to raise short-term interest rates next month.

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28/11/2017 Argonaut Morning Note

The S&P 500 paused Monday, weighed down by a pullback in shares of energy companies. Major indexes struggled for traction Monday, with the S&P 500 and Nasdaq giving up early gains to trade mostly lower in the second half of the session. Shares of retailers jumped following the weekend's holiday sales, while oil-and-gas companies fell along with U.S. crude prices. With major indexes still up double-digit percentages for 2017, some analysts said it was not surprising to see the momentum in U.S. stocks falter a bit heading into year-end.

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27/11/2017 Argonaut Morning Note

U.S. stocks capped off a quiet stretch of holiday trading with a weekly gain. Activity in the stock market has been muted in recent sessions, with U.S. trading closed Thursday in observance of Thanksgiving and the market shutting early Friday. Still, major indexes have generally continued to extend their 2017 rally, with advances in shares of industrial, technology and consumer-discretionary companies lifting the S&P 500, Dow Jones Industrial Average and Nasdaq Composite to fresh records this week. The S&P 500 rose 5.34 points, or 0.2%, to 2602.42, closing above the 2600 level for the first time.

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