Morning Notes

11/03/2015 Argonaut Morning Note

U.S. stocks fell on Tuesday as the dollar rose to a nearly 12-year high against the euro and bond yields in Europe hit record lows. Barnes & Noble fell 9.1% as its fiscal third-quarter earnings fell short of expectations amid a sharply higher income tax expense. American Airlines Group Inc. shares fell 1.1 % as the airline said passenger traffic declined in February. Rival airline United Continental Holdings Inc.'s shares also declined, down 2.1%, as its capacity fell slightly in February from the year-ago period while passenger traffic was unchanged. The dollar rose to new multiyear highs against developed-market currencies on Tuesday, fuelled by higher expectations for a midyear rise in U.S. interest rates.

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10/03/2015 Argonaut Morning Note

U.S. stocks rose Monday, rebounding from Friday's selloff, as investors continued to grapple with the prospect of higher interest rates. The rally followed a sharp selloff on Friday, when a strong jobs report raised expectations that the Federal Reserve may increase interest rates soon. Investors on Monday, however, shook off those worries and the Dow added 139 points (or 0.8%) to 17,996, while the S&P 500 climbed 0.4% to 2,079.

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09/03/2015 Argonaut Morning Note

Wall Street stocks finished sharply lower after a strong US jobs report raising expectations the Federal Reserve will soon lift interest rates. The Dow Jones Industrial Average sank 278.94 points (1.54 per cent) on Friday to 17,856.78. The broad-based S&P 500 fell 29.78 (1.42 per cent) to 2,071.26, while the tech-rich Nasdaq Composite Index lost 55.44 (1.11 per cent) at 4,927.37. The Labor Department said the US economy added 295,000 jobs in February, pushing the unemployment rate down two tenths to 5.5 per cent, the lowest level since May 2008.

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06/03/2015 Argonaut Morning Note

U.S. stocks were little changed Thursday, pausing after a two-session losing streak, as investors focused on Europe's stimulus measures and looked ahead to the U.S. jobs report. The Dow rose 0.2% to 18,136 and the S&P 500 was flat at 2,101.

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05/03/2015 Argonaut Morning Note

US stocks have fallen for a second day after a run that saw new Dow and S&P records and a 15-year high for the Nasdaq. Dull data on private business hiring and service sector growth, and a so-so Beige Book economic survey from the Federal Reserve kept traders cautious, with eyes now on Friday's official jobs market report for February, and the European Central Bank meeting Thursday. At the close on Wednesday, the Dow Jones Industrial Average was down 106.47 points (0.58 per cent) at 18,096.90. The broad-based S&P 500 fell 9.25 (0.44 per cent) to 2,098.53, while the tech-rich Nasdaq Composite dropped 12.76 (0.26 per cent) to 4,967.14.

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