Morning Notes

12/06/2018 - Argonaut Morning Note

The S&P 500 advanced Monday, led higher by shares of health-care and consumer discretionary companies, building on last week's broad gains ahead of a historic U.S.-North Korea summit. The Dow Jones Industrial Average swung between gains and losses before adding 0.3%. The S&P 500 advanced 0.3%, following gains across Asian and European markets. The Nasdaq Composite rose less than 0.3%. Ten of the 11 S&P 500 sectors posted gains.  The Russell 2000 index climbed 0.3%. Macroeconomic news will take centre stage this week, with the Federal Reserve, European Central Bank and Bank of Japan all meeting, likely offering important clues on the path of monetary policy. The Fed is widely expected to raise interest rates when it meets this week and update its projections for the years ahead while investors will watch closely for the ECB's stance on winding down its bond-buying program. For now though, markets have returned to a lower-volatility environment, one in which equity indexes slowly march higher, he said. It is a reversion to the mood that permeated markets late 2017 and early 2018. The US Gold Price gained 0.2% to record $1300 US$/Oz.

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08/06/2018 - Argonaut Morning Note

The Dow Jones Industrial Average climbed intraday as a jump in shares of oil-and-gas companies helped offset selling across the technology sector. The blue-chip index rose 95 points, or 0.4%, to 25241 after closing at its highest level in nearly three months Wednesday. The S&P 500 fell 0.1% and the Nasdaq Composite lost 1.1%, pressured by a slide in technology shares. Stocks have attempted to break higher in recent days as investors have bet that threats of tighter trade policies won't be a significant drag on global growth. The news that the U.S. and China reached a deal that would allow Chinese telecommunications company ZTE to do business again was a bright spot for investors hoping for diffused trade tensions. The US Gold price was up 0.1% to 1,296.80 US$/oz.

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07/06/2018 - Argonaut Morning Note

The Dow Jones Industrial Average headed toward its highest close in nearly three months Wednesday, with markets calm as investors weighed the latest signals on international trade. Stocks have risen lately despite worries that protectionist policies could slow trade and weaken the global economy, damping growth and hurting markets. Some investors still believe trade compromises between the U.S. and other countries, including China, will eventually resolve the conflicts. China has offered to purchase nearly $70 billion of U.S. farm, manufacturing and energy products if the Trump administration abandons threatened tariffs, The Wall Street Journal reported Tuesday. Trade tensions and political uncertainty surrounding Italy and other countries remain threats to the market rally, but some analysts still think strong earnings and favourable growth in the U.S. can power major indexes higher. The Dow industrials added 1.4%, to 25146. The S&P 500 rose 0.9% after a recent resurgence in tech stocks helped the index notch a third straight session of advances Tuesday, while the Nasdaq Composite edged up 0.3% and was on track for a fresh record. The US Gold price was steady at 1,295.90 US$/oz.

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06/06/2018 - Argonaut Morning Note

U.S. stocks bounced between small gains and losses intraday, as shares of technology companies continued climbing and financial stocks declined with government bond yields. The Dow Jones Industrial Average fell 14 points, or 0.1%, to 24800, and the S&P 500 dropped less than 0.1%. The tech-heavy Nasdaq Composite - which closed at a record high Monday - rose 0.1%. Tech stocks in the S&P 500 have risen 6.3% over the past month, marking a shift after investors fled the sector in March amid fears of increased regulatory scrutiny as Facebook faced questions over its sharing of user information. Now, tech stocks are looking more attractive, investors say, even as tighter trade policies have dented investors' confidence in the global growth story that had driven stocks to records last year. The US Gold price was higher by 0.3% to 1,295.80 US$/oz

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05/06/2018

U.S. stocks started the week higher as the latest sign of a strong domestic economy overshadowed jitters over the back-and-forth on trade. Though concerns about the pace of growth world-wide have emerged lately, the advance in major indexes followed a big bounce in stocks Friday that came amid dimming worries about Italian politics and an upbeat U.S. employment report. The tech-heavy Nasdaq Composite was on track to close at a fresh record. Markets in Europe, Hong Kong and Japan vaulted higher as well. The Dow Jones Industrial Average was up 0.7% in the last half-hour of trading. The S&P 500 gained 0.4%. The Nasdaq Composite added 0.6%, on track to break its March 12 all-time closing high. Technology heavyweights helped buoy markets, extending a spell of confidence in one of this year's most volatile groups. Over the weekend, the Trump administration showed no sign of backing down from restrictive tariffs in the face of pushback from allies and China. Beijing separately said it wouldn't abide by any agreement to buy more U.S. products without assurances that the U.S. wouldn't go ahead with plans to hit it with tariffs on Chinese imports. The US Gold price declined 0.1% to 1,291.50 US$/oz.

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