Morning Notes

08/09/2017 Argonaut Morning Note

Shares of financial companies sagged under the pressure of falling bond yields and the threat of Hurricane Irma, weighing on major stock indexes. The Dow Jones Industrial Average fell 46 points, or 0.2%, to 21762 intraday. The S&P 500 declined 0.1%, while the Nasdaq Composite slipped less than 0.1%. Declines in Treasury yields, along with concerns about the storm's potential impact on Florida as it battered islands in the Caribbean, helped erase stocks' early gains following the European Central Bank's decision to leave monetary policy unchanged while reaffirming the resilience of the eurozone economy. Shares of financial companies in the S&P 500 tumbled 1.8%.

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07/09/2017 Argonaut Morning Note

The Dow Jones Industrial Average rebounded from its worst session in weeks, boosted by shares of energy and financial companies. The Dow industrials rose 83 points, or 0.4%, to 21836, following the blue-chip index's largest one-day decline since Aug. 17 on Tuesday. The S&P 500 advanced 0.4% and the Nasdaq Composite swung between small gains and losses and was recently up 0.4%. Strong economic data around the globe has underpinned stock markets this year, with U.S. indexes hitting record highs over the summer even as investors have grown anxious about how long the bull run can last.

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06/09/2017 Argonaut Morning Note

The Dow Jones Industrial Average fell roughly 240 points intraday, as threats from North Korea and another powerful hurricane weighed on major indexes. The blue-chip index fell 1.1%, to 21746 in recent trading. The S&P 500 declined 1%, while the Nasdaq Composite shed 1.2%. The CBOE Volatility Index, a measure of expected swings in the S&P 500, jumped more than 30%. After North Korea's test of its most powerful nuclear bomb yet, investors headed for safer stores of value, like U.S. government bonds and gold.

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05/09/2017 Argonaut Morning Note

Markets in the U.S. were closed overnight for the Labor Day public holiday. On Friday, stocks edged higher following a roughly-in-line jobs report. Gold prices rose Monday, hitting their highest level in 11 months in the morning after North Korea's latest nuclear test. Gold prices also rose Friday after the latest monthly U.S. jobs report came in weaker than economists expected. The U.S. gold price added another 0.7% to close at 1,333.80 US$/oz.

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04/09/2017 Argonaut Morning Note

The Nasdaq Composite rose to its biggest weekly gain of the year, boosted by signs of strength in the U.S. economy and a rise in biotechnology companies. In the past week, investors navigated the damage caused by Hurricane Harvey and renewed tensions between the U.S. and North Korea, while also focusing on upbeat data on personal spending as well as steady job creation and low unemployment. On Friday, stocks edged higher following a roughly-in-line jobs report. The pace of hiring slowed and the U.S. unemployment rate rose slightly last month, according to the Labor Department, but wages ticked up less than expected. This is said to be good for stock prices, as wages are rising enough to spur more consumer spending but not at a fast-enough pace to compel the Federal Reserve to raise interest rates.

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