Morning Notes

07/04/2015 Argonaut Morning Note

U.S. stocks extended their gains Monday, rebounding from an early loss, in the first trading session following the release of March's disappointing jobs report. The Dow climbed 118 points, or 0.7%, to 17,881. The Labor Department on Friday said U.S. employers added 126,000 jobs in March, the weakest pace of hiring in 15 months. With the U.S. stock market closed for the Good Friday holiday, Monday was the first chance for investors in stocks to react to the report.

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02/04/2015 Argonaut Morning Note

Stocks fell on after weak economic data added to concerns about U.S. growth at the start of the year. The Dow Jones Industrial Average declined 78 points, or 0.4%, to 17698. The S&P 500 shed 8 points, or 0.4%, to 2060, and the Nasdaq Composite lost 36 points, or 0.7%, to 4865. Soft economic reports, such as Wednesday's weaker-than-expected private employment and manufacturing data, dim the outlook for corporate profits.

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01/04/2015 Argonaut Morning Note

U.S. stocks retreated Tuesday, pulling back after two sessions of gains, as oil prices slipped and the dollar strengthened. In late trading the Dow Jones Industrial Average fell 200 points, or 1.1%, to 17,776. The S&P 500 shed 18 points, or 0.9%, to 2068.

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31/03/2015 Argonaut Morning Note

U.S. stocks advanced, rebounding from last week's downdraft, as investors snapped up health-care companies following a spate of deal announcements. The Dow Jones Industrial Average rose 286 points, or 1.6%, to 17999 in afternoon trade. The S&P 500 rose 27 points, or 1.3%, to 2088. The Nasdaq Composite climbed 55 points, or 1.1%, to 4947. Despite Monday's gains, trading volumes were relatively subdued. Shares of biotechnology stocks were among the sharpest decliners last week, amid fresh worries about their lofty valuations. On Monday, the Nasdaq Biotechnology Index gained 1.1%, and is up nearly 3% over the last two sessions. Deal-making elsewhere in the health-care sector helped buoy shares Monday.

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30/03/2015 Argonaut Morning Note

U.S. stocks rose modestly, snapping a four-session losing streak. The Dow was up 34 points, or 0.2%, to 17,713 on Friday. Despite the gains, stocks posted their biggest weekly losses since late January, with the Dow and S&P slipping 2.3% and 2.2%, respectively, for the week. The declines push the Dow about 3.1% off its high reached earlier this month, and the S&P 500 is 2.7% off its intraday record hit in late February. The dollar eased against the euro and the British pound as lukewarm U.S. data reflected a mildly slowing economy and diminishing confidence among Americans to spend money. Numbers for the final revision of the U.S. gross domestic product for the last three months of 2014 came in below forecasts, reviving investors' caution about when the Fed might raise rates.

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