Morning Notes

11/02/2015 Argonaut Morning Note

U.S. stocks rose Tuesday, buoyed by hopes for a deal between Greece and its international creditors. The Dow added 0.8% and the S&P 500 gained 1.1%. Tuesday's stock market move reversed Monday's losses, when stocks fell amid worries about Greece's debt negotiations with creditors. Coca-Cola shares rose 2.7%, leading the Dow higher, after the company reported fourth-quarter profit and revenue that topped analyst expectations. China added to overall market worries Tuesday as the world's second-largest economy posted its lowest inflation print since 2009, according to the country's statistics bureau. The consumer price index increased just 0.8% in January from a year earlier.

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10/02/2015 Argonaut Morning Note

U.S. stocks fell on Monday afternoon as investors eyed a flare-up in tensions between Greece and its international creditors. The Dow Jones Industrial Average lost 95 points, or 0.5%, to 17,729, while the S&P 500 shed 9 points, or 0.4%, to 2,047. The declines come on the heels of a tumble in European markets, after Greek Prime Minister Alexis Tsipras unveiled plans Sunday to undo several austerity measures that were a condition of the country's international bailout. Concerns about weak growth overseas, the months-long slide in oil prices and the strength of the U.S. dollar have cast a shadow over fourth-quarter earnings season, buffeting stocks this year. Year to date, the S&P 500 is down 0.4%, following last year's 11% gain.

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09/02/2015 Argonaut Morning Note

Wall Street stocks have finished a buoyant week with a whimper, ending the session lower in a drop attributed to profit taking. The Dow Jones Industrial Average shed 60.59 points (0.34 per cent) at 17,824.29 on Friday. The broad-based S&P 500 lost 7.05 (0.34 per cent) at 2,055.47, while the tech-rich Nasdaq Composite Index declined 20.70 (0.43 per cent) to 4,744.40. The losses followed a strong jobs report that sent US stocks higher in the morning. The Labour Department said the US economy added 257,000 jobs in January, better than the 235,000 projected by analysts. The report included large upward revisions to jobs growth in November and December. Hourly wage growth gained 0.5 per cent, a big improvement after a December drop.

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06/02/2015 Argonaut Morning Note

U.S. stocks rallied Thursday, as a rebound in oil prices and upbeat company news helped push the Dow into positive territory for the year. The Dow Jones Industrial Average rose 160 points, or 0.9%, in midday trading to 17834. With those gains, it is up 0.1% for 2015. The S&P 500 gained 16 points, or 0.8%, to 2057, and Nasdaq Composite Index added 32 points, or 0.7%, to 4749.

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05/02/2015 Argonaut Morning Note

US stocks have given up late gains after the European Central Bank put fresh pressure on Athens by lifting its waiver on the use of Greek bonds as collateral. The move darkened hopes that Greece's new government could quickly reach a deal on modifying their bailout and avoiding a new eurozone crisis. The Dow Jones Industrial Average finished at 17,637 on Wednesday, up 7 points (0.04 per cent). The S&P 500 lost 9 points, or 0.4%, to 2,042.

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