Morning Notes

30/09/2015 Argonaut Morning Note

U.S. stocks wobbled between gains and losses as beaten-down health shares rebounded. The Dow finished up 0.3% to 16,049, while S&P500 advanced 0.1% to 1,884. Global stock markets have been sliding in recent sessions because of renewed worries over slowing growth and questions over the Federal Reserve's plan for raising interest rates. In Europe, troubles at Glencore as well as an emissions scandal at Volkswagen AG have added to investor unease.

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29/09/2015 Argonaut Morning Note

U.S. stocks fell sharply, as fresh evidence of an economic slowdown in China added to investors' fears about the outlook for global growth. Energy and raw-materials producers were among the session's biggest decliners as commodity prices fell following a report showing China's industrial profits dropped 8.8% in August from a year earlier. The Dow lost 313 points, or 1.9%, to 16,002 and the S&P500 dropped 50 points, or 2.6%, to 1,882.

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28/09/2015 Argonaut Morning Note

U.S. stocks finished mixed Friday, curbing earlier gains amid a renewed selloff in the biotechnology sector. The Dow rose 113 points, or 0.7%, to 16315, pulling back from a gain of 264 points earlier in the session. An 8.9% rally in Nike helped keep the Dow in positive territory. The world's biggest sportswear maker posted stronger quarterly profits. But the S&P 500 fell 0.1% and the biotech-heavy Nasdaq Composite lost 1%. A rout in biotech shares weighed down broad-market indexes. The Nasdaq Biotechnology Index lost 5.1%, capping a tumultuous week for the sector. The selloff reverses the gains logged early Friday that followed a speech by Federal Reserve Chairwoman Janet Yellen, who laid out a case for raising interest rates this year, reassuring investors that the central bank has confidence in the health of the U.S. economy. Ms. Yellen's comments, delivered late Thursday, were effectively a warning that last week's decision to keep rates near zero wasn't a shift toward an interminable delay in raising rates.

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25/09/2015 Argonaut Morning Note

U.S. stocks extended their selloff into a third straight session, dragged down by declines among big industrial firms and auto makers. During a speech on Thursday in Amherst, Massachusetts, US FED Chairman Janet Yellen’s stated, “most FOMC participants, including myself, currently anticipate that achieving these conditions will likely entail an initial increase in the federal funds rate later this year, followed by a gradual pace of tightening thereafter. But if the economy surprises us, our judgments about appropriate monetary policy will change”. Shares of Caterpillar Inc. posted the biggest decline in the Dow after the maker of heavy equipment cut its revenue outlook and announced up to 10,000 job cuts as part of a cost-cutting plan. The Dow fell 0.5% to 16,201 and the S&P 500 dropped 0.3% to 1,932.

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24/09/2015 Argonaut Morning Note

U.S. stocks bounced around, putting the Dow industrials on track for their fourth loss in five sessions. The Fed last week refrained from raising short-term interest rates, which would have marked its first increase in nearly a decade, amid concerns about weak economic growth abroad. China stoked global growth concerns when it unexpectedly devalued its currency last month. A slowdown in the global economy bodes poorly for corporate profits at big, multinational companies and future gains in those stocks.

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