Morning Notes

23/02/2018 Argonaut Morning Note

U.S. stocks rose intraday, putting major indexes on track to snap their recent run of losses, as concerns subsided over whether the Federal Reserve will have to ramp up its pace of interest-rate increases. Stocks have fluctuated wildly this week, highlighting the market's fragility as investors continue to assess the quickening pace of economic growth and the prospects of the Fed's tightening efforts.

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22/02/2018 Argonaut Morning Note

U.S. stocks pared some of their gains Wednesday as bond yields surged after minutes from the Federal Reserve's January meeting showed officials plan to keep gradually raising short-term interest rates this year. Investors have been particularly focused on economic data and commentary from central banks after concerns about rising inflation, higher government bond yields and tighter monetary policy helped trigger a stock-market correction earlier this month.

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21/02/2018 Argonaut Morning Note

Falling shares of Walmart pulled the Dow Jones Industrial Average lower intraday, putting the blue-chip index on track for its first loss in seven trading sessions. Shares of Walmart tumbled more than 9% after the retailer reported slowing online sales growth, indicating its difficulty in fending off competition from Amazon.com. That drop, Walmart's biggest slide in more than two years, took roughly 67 points off Dow industrials and contributed to a 1.9% decline among shares of consumer-staple stocks in the S&P 500.

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20/02/2018 Argonaut Morning Note

U.S. Markets were closed Monday for President’s Day. The U.S. gold price finished flat overnight, closing at 1346.00 US$/oz. European stocks fell in light holiday trading while Asian bourses continued to rebound from an early February correction. The Stoxx Europe 600 ended the day 0.6% lower after three sessions of gains, brushing off an upbeat lead from Japan and Australia.

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19/02/2018 Argonaut Morning Note

The Dow Jones Industrial Average and S&P 500 edged higher Friday to extend their rebound as stocks showed firm signs of regaining their footing after tumbling earlier this month. The blue-chip index gained 4.3% over the past five trading days to notch its best week since President Donald Trump's election, while the S&P 500's 4.3% move upward was its biggest weekly jump since 2013. The indexes were on pace for an even bigger rally, but they pared gains--and Nasdaq Composite turned lower--Friday afternoon when a Russian organization and several individuals were charged with interfering in the U.S. electoral process. Still, the Nasdaq had risen enough earlier in the week to add 5.3%, its biggest gain in seven years. Jitters about the threat of rising inflation subsided this week, as many investors said strong economic growth and robust corporate profits should support major indexes' move higher, similar to the sentiment for much of last year. The Dow industrials added 19 points, or less than 0.1%, to 25,219, despite rising as much as 232 points earlier in the day. The S&P 500 gained 1.02 points, or less than 0.1%, to 2732.22, while the Nasdaq declined 16.96 points, or 0.2%, to 7239.47. The U.S. gold price finished the week of slightly lower, falling 0.5% at 1346.50 US$/oz.

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