Morning Notes

24/11/2017 Argonaut Morning Note

U.S. markets were closed Thursday for the Thanksgiving holiday. The U.S. gold price traded slightly lower overnight, pulling back 0.1% to close at 1,290.60 US$/oz. A broad gauge of European stocks steadied at the end of trade Thursday, after spending the session struggling to find firm direction. But French blue-chip shares climbed after data showed the country led the strengthening in the eurozone economy this month. The Stoxx Europe 600 closed up less than 1 point at 387.12 after a topsy-turvy session for European equities.

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23/11/2017 Argonaut Morning Note

U.S. stocks stalled Wednesday ahead of the Thanksgiving holiday, as declines among technology and financial firms weighed on major indexes. The Dow Jones Industrial Average declined 0.2%, while the S&P 500 fell less than 0.1% after briefly breaching the 2600 milestone for a second consecutive session during intraday trading. The Nasdaq Composite gained 0.1%, putting it on track for another record close. While trading volumes have slowed ahead of the holiday on Thursday, stocks remain near their peaks and many expect indexes to continue their grind higher through the rest of this year and in 2018.

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22/11/2017 Argonaut Morning Note

Shares of Apple and other technology companies climbed intraday, putting major indexes on track to notch fresh records. Investors looking to eke out additional gains before the end of the year flocked to tech stocks, some money managers said, pushing shares in those businesses in the S&P 500 up more than 1% Tuesday. Tech firms, a big contributor to the market's rally this year, are on pace to post double-digit gains for the quarter. The market's recent upswing has helped offset losses suffered over the last two weeks among stocks in the Dow industrials and the S&P 500, underscoring the rally's strength amid concerns about lofty valuations and the unclear prospects for Republican tax-overhaul efforts.

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21/11/2017 Argonaut Morning Note

Gains in industrial shares helped push the Dow Jones Industrial Average higher on Monday. Major indexes started the day little changed, then extended gains throughout the afternoon. With the U.S. stock market closed Thursday in observance of Thanksgiving and few major economic reports on the docket this week, some analysts and investors say trading is likely to be relatively quiet over the next couple of days. The Dow industrials climbed 0.4%. The S&P 500 added 0.2% and the Nasdaq Composite rose 0.1%.

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20/11/2017 Argonaut Morning Note

U.S. stocks slipped Friday, dragging the S&P 500 and Dow Jones Industrial Average to narrow weekly losses. That marks the second-straight week of declines for both indexes, which previously had been on a two-month-long stretch of gains, boosted by strong corporate earnings and solid economic growth around the world. But with the S&P 500 up more than 15% so far this year, some investors are asking how long the upswing can last. Major indexes have wobbled over the past several sessions, hurt by a drop in the price of oil even as consumer companies have risen.

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