Morning Notes

21/01/2015 Argonaut Morning Note

U.S. stocks finished flat on Tuesday, as the continued slide in oil prices fuelled investor concerns about global economic growth. Investors say the months-long decline raises worries about demand, since it comes alongside slowing growth in Asia and economic troubles in Europe. While lower oil prices are expected to help some consumer-focused shares, stocks of retailers fell sharply on Tuesday. Investors are closely watching fourth-quarter earnings reports to determine the implications of falling oil prices and sluggish international demand. The dollar traded at its highest level against the Canadian dollar since April 2009, as investors bet that the Bank of Canada would lower its expectations for economic growth as falling crude oil prices have hamstrung the country's energy sector.

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20/01/2015 Argonaut Morning Note

Europe's broad equity-market benchmark closed higher Monday, hitting a seven-year high as investors weigh up the prospects for quantitative easing from the European Central Bank. The Stoxx Europe rose 0.2% to 353.18, its strongest close since early January 2008, according to FactSet data. That added to gains of nearly 4% over the past two sessions.

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19/01/2015 Argonaut Morning Note

Wall Street stocks have jumped as oil prices rebounded, snapping a five-day losing streak that had left the equity market looking oversold to some investors. The Dow Jones Industrial Average gained 190.86 points (1.10 per cent) on Friday to 17,511.57. The broad-based S&P 500 rose 26.75 (1.34 per cent) to 2,019.42, while the tech-rich Nasdaq Composite Index surged 63.56 (1.39 per cent) to 4,634.38. Investors were reassured by a healthy 5.3 per cent rise in US oil prices as the International Energy Agency declared there were signs "the tide will turn" in the oil market following recent multi-year lows.

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16/01/2015 Argonaut Morning Note

U.S. stocks slipped in choppy trading Thursday, as a pair of disappointing bank earnings reports weighed down financial shares. The Dow Jones fell 106 points, or 0.6%, to 17,321 and the S&P 500 lost eight points, or 0.9%, to 1993.

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15/01/2015 Argonaut Morning Note

Stock markets around the world tumbled, with the Dow industrials falling to their lows of the year, and government bonds rallied Wednesday as fears about the health of the global economy deepened. Investors have been concerned about softness in Europe, Japan and China for months. And while U.S. growth has remained buoyant, it is unclear whether it can withstand the drag from overseas. Slower economic growth dims the prospects for corporate profit growth, a driver of stock-market gains. The Dow dropped 187 points, or 1.1%, to 17,427 and the S&P 500 lost 12 points, or 0.6%, to 2,011.

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