Morning Notes

10/09/2015 Argonaut Morning Note

The rally in global stocks, driven by signs that China would do more to stimulate its slowing economy, faded in the U.S overnight. Fed officials will decide whether to raise interest rates at the central bank's two-day meeting starting Sept. 16. Economists had expected the Fed to raise interest rates at its September meeting before the recent selloff in global markets. The Fed has left the door open to rate increases next week, but many investors and economists say they're less sure now about that possibility. The Dow fell 1.5% to 16,254 and the S&P dropped 1.4% to 1,942.

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09/09/2015 Argonaut Morning Note

U.S. stocks rallied after the Labor Day holiday, with the Dow adding 390 points, or 2.4%, to 16,493 and the S&P 500 climbing a similar amount to close at 1,969. Tuesday's rally brought the Dow closer to erasing its losses in August, when it fell 6.6%. The dollar fell against most other currencies, after last week's U.S. employment data gave a mixed picture of the labor market, raising doubts over whether the Federal Reserve will lift rates this month. U.S. nonfarm payrolls data for August, reported on Friday, showed employment growth slowing in August, even as the unemployment rate fell more than expected owing to a smaller labor force.

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08/09/2015 Argonaut Morning Note

U.S. financial markets were closed Monday for the Labor Day holiday. In Europe the Stoxx Europe 600 clawed back some of the losses suffered last week to end the session 0.5% higher. The London FTSE also gained 0.5%, while the German DAX and French CAC added 0.7% and 0.6% respectively.

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07/09/2015 Argonaut Morning Note

Wall Street stocks have fallen after a mixed US jobs report clouded prospects for a Federal Reserve interest rate rise amid China-induced global market turmoil. The Labor Department reported the economy added fewer jobs than forecast, 173,000, but the previous two months' job gains were revised upward, pushing the unemployment rate down more than expected to 5.1 per cent. Monday's market closures for the Labor Day holiday were also seen as a factor in the Friday slippage. "Ahead of a three-day weekend ... what we see today, I think, is a risk-off mentality, as both China and European weaknesses have dictated our markets' direction for the last week," said James. The US Market is closed for Labour Day Holiday.

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04/09/2015 Argonaut Morning Note

U.S. stocks' gains faded, as investors focused on coming U.S. employment data. Worries about the health of the global economy have led some analysts to reconsider their forecasts on when the Fed will raise interest rates from record-low levels. U.S. economic reports this week culminate with Friday's employment report for August, which is expected to show an addition of 220,000 jobs, according to economists surveyed by The Wall Street Journal. The unemployment rate is forecast to tick down to 5.2% from 5.3%.  The Dow and the S&P both rose marginally, by 0.1% to 16,375 and 1,951 respectively.

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