Morning Notes

28/04/2015 Argonaut Morning Note

U.S. stocks gave up early gains to trade down slightly on Monday and the Dow Jones lost 42 points, or 0.2%, to 18,038. Recent strength in the tech sector had spilled over into the broader market and helped propel the S&P to a fresh record Friday, although that petered out Monday with the S&P 500 dropping 9 points, or 0.4%, to 2,109.

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27/04/2015 Argonaut Morning Note

The Nasdaq Composite Index added 36.02 points (0.71 per cent) at 5,092.08, boosting the record broken on Thursday, 15 years after the heights of the dot-com boom. The Dow Jones Industrial Average edged up 21.45 (0.12 per cent) to 18,080.14, while the S&P 500 added 4.76 (0.23 per cent) at 2,117.69, 0.3 point above the previous record on March 2. The Nasdaq surge came on the back of good data in the quarterly reports of the three big tech stocks: Amazon shares soared 14.8 per cent and Microsoft 10.5 per cent as they reported strong gains in cloud computing.

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24/04/2015 Argonaut Morning Note

The Nasdaq Composite Index breached its all-time closing high for the first time in 15 years on Thursday. The S&P and Dow were both up marginally, rising 0.2% and 0.1% respectively.

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23/04/2015 Argonaut Morning Note

U.S. stocks rose Wednesday, a continuation of back-and-forth action amid mixed first-quarter earnings. The Dow Jones Index climbed 89 points, or 0.5%, to 18,038 and the S&P 500 Index rose a similar amount to 2,108. Including results from 113 companies in the S&P 500, earnings are on track to fall 3.9% from a year earlier, according to FactSet. About 76% of those companies have beaten profit expectations that were slashed heading into the reporting season.

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22/04/2015 Argonaut Morning Note

U.S. stocks declined Tuesday after a mixed bag of earnings reports. This week earnings are at the forefront for investors, as it is one of the busiest weeks for companies reporting first-quarter results. Including results from 77 companies, first-quarter earnings for S&P 500 companies are on track to fall 4.2% from a year ago, according to FactSet.

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