Morning Notes

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.


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.


04/02/2015 Argonaut Morning Note

The Dow has gained more than 300 points as US stocks rallied on higher oil prices and greater optimism over a deal to renegotiate Greece's debt. The Dow Jones Industrial Average jumped 305.36 points (1.76 per cent) to 17,666.40. The broad-based S&P 500 powered higher by 29.18 (1.44 per cent) to 2,050.03, while the tech-rich Nasdaq Composite Index gained 51.05 (1.09 per cent) at 4,727.74. US oil prices surged seven per cent to the highest level of 2015, adding some relief to markets that fear the steep drop in the commodity signals major global economic problems.


03/02/2015 Argonaut Morning Note

U.S. stocks slipped after data showed slowing activity in the U.S. manufacturing sector, though the energy sector gained. The energy sector rallied after oil prices staged a push higher. Shares of Chevron climbed 1.3%, while fellow Dow component Exxon Mobil Corp., which reported better-than-expected earnings, advanced 0.8%. The Dow advanced 196 points, or 1.1%, to 17,361 and the S&P 500 increased 26 points, or 1.3%, to 2,021.


02/02/2015 Argonaut Morning Note

Market Update & Important Indicators

Wall Street stocks have finished a volatile week sharply lower following a disappointing US economic growth report and worrisome data on Eurozone inflation. The Dow Jones industrial Average slumped 251.90 points (1.45 per cent) to close Friday at 17,164.95. The broad-based S&P 500 sank 26.26 (1.30 per cent) to 1,994.99, while the tech-rich Nasdaq Composite Index fell 48.17 (1.03 per cent) to 4,635.24. US economic growth came in at an annual rate of 2.6 per cent in the fourth quarter, well below the 5.0 per cent in the prior quarter, according to Commerce Department data. Analysts also pointed to the drag from a Eurozone inflation report, which showed consumer prices fell by a record 0.6 per cent in January, raising fears deflation is taking hold in the region.