Morning Notes

11/08/2015 Argonaut Morning Note

Deal-making in the industrials sector fueled a rally in U.S. stocks, helping the Dow recover from steep losses last week. The Dow climbed 242 points, or 1.4%, to 17,615, while the S&P 500 gained 1.3% to 2,104. Berkshire Hathaway Inc. said it would buy Precision Castparts Corp. for about $32 billion, sending shares of the industrial company soaring 19%, making it the biggest gainer in the S&P 500. Meanwhile, disappointing economic data in China provided fuel for gains in stocks across the globe.

read more...

10/08/2015 Argonaut Morning Note

Wall Street stocks have dropped after a solid US July jobs report lifted expectations the Federal Reserve will soon raise interest rates. The US economy added 215,000 jobs in July with unemployment holding steady at a seven-year low rate of 5.3 per cent. The report brought the average monthly jobs gains to 235,000 over the past three months, heightening expectations the Fed could raise its near-zero federal funds rate as early as next month.

read more...

07/08/2015 Argonaut Morning Note

Stocks slumped on Thursday in a selloff led by shares of media companies, which have reported a flurry of disappointing earnings amid concerns about the shift away from traditional television. A 12% decline in Viacom Inc. dragged down the Nasdaq Composite Index, which was 1.5% lower at 5062. The Dow fell 0.7% to 17,420 and S&P 500 dropped 0.8% to 2,084.

read more...

06/08/2015 Argonaut Morning Note

Broader U.S. stock indices rose Wednesday as investors waited for an employment report at the end of the week that is likely to shed light on whether the U.S. economy is ready for higher interest rates. The Dow shed 10 points, or 0.1%, to 17,540, while the S&P 500 and NASDAQ climbed 0.3% and 0.7% respectively. Investors around the globe are waiting for a clear sign as to when the Federal Reserve will raise short-term rates for the first time in nearly a decade. The continued focus on the path of U.S. interest rates has heightened the focus on Friday's jobs report, since Fed officials consider employment data as they make their decision. Economists surveyed by The Wall Street Journal expect an addition of 215,000 jobs.

read more...

05/08/2015 Argonaut Morning Note

US stocks have finished lower following a mixed batch of earnings reports and another big decline by technology giant Apple. The Dow Jones Industrial Average dropped 47.51 points (0.27 per cent) to 17,550.69. The broad-based S&P 500 fell 4.72 (0.22 per cent) to 2,093.32, while the tech-rich Nasdaq Composite Index slid 9.84 (0.19 per cent) to 5,105.55. Apple fell 3.2 per cent, leaving it down more than 12 per cent since its July 21 earnings release. Analysts have cited fears of slowing growth, in part due to weakening conditions in China, a key Apple market. Insurer Allstate fell 10.2 per cent after a rise in payments for auto accidents dented second-quarter earnings, while handbag and accessories retailer Coach rose 3.2 per cent after reporting better-than-expected results.

read more...