Morning Notes

03/11/2017 Argonaut Morning Note

The Dow Jones Industrial Average climbed to session highs on Thursday, with less than a half-hour left of regular trade, after President Donald Trump picked Fed. Gov. Jerome Powell as the next Federal Reserve chairman. If confirmed by the Senate, Powell would replace Janet Yellen, whose term ends in February. The Dow Jones Industrial Average was trading in record territory, up more than 90 points, or 0.4%, while the Nasdaq Composite and the S&P 500 index turned slightly higher.

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02/11/2017 Argonaut Morning Note

The Dow Jones Industrial Average climbed to start November, after major indexes posted a flurry of records last month. Stocks inched slightly higher after the Fed left rates unchanged as expected but signalled it would consider lifting them before year's end amid signs the economy was gaining momentum. The Dow industrials were recently up 0.2%. The blue-chip index posted its seventh straight monthly gain Tuesday, its longest streak since April 2012. The S&P 500 climbed 0.2%, and the tech-heavy Nasdaq Composite swung between small gains and losses and was recently down 0.2%.

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01/11/2017 Argonaut Morning Note

Shares of Mondelez International, Kellogg and other food companies helped the S&P 500 edge higher intraday, putting the index on track for its best month since February. Corporate earnings continued to dictate the market's biggest moves, with companies generally being rewarded by investors when they beat expectations for the most recent quarter. More than half of S&P 500 companies already have released results and another big batch is scheduled to report this week, including Facebook on Wednesday and Apple on Thursday. The S&P 500 was recently up 0.2% and has risen 2.3% for the month so far.

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31/10/2017 Argonaut Morning Note

U.S. stocks inched lower at the start of a busy week set to include another round of earnings results, the monthly U.S. jobs report and policy decisions from central banks around the world. Major indexes hovered between small gains and losses at the start of the session, then extended declines throughout the trading day. The Dow Jones Industrial Average lost 0.3%. The S&P 500 fell 0.3% and the Nasdaq Composite edged down 0.1%. Analyst downgrades weighed on shares of retailers, which have come under pressure this year as foot traffic has declined at many brick-and-mortar stores.

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30/10/2017 Argonaut Morning Note

A busy week of robust corporate earnings lifted the S&P 500 and Nasdaq Composite to new highs Friday. More than half of companies in the S&P 500 have reported third-quarter results as of Friday afternoon, and more than three-quarters of those results have surpassed analyst expectations, according to FactSet. Standout corporate results, which ranged from machinery maker Caterpillar to technology stalwart Microsoft, drove broader stock-market gains. Among the best performers during the week were Google's parent Alphabet and Amazon.com, both of which reported strong revenue. Earlier in the week, Twitter shares jumped after the social-media company said it added more new monthly users than analysts expected and boosted its guidance for the fourth quarter. On Friday, shares of Intel climbed $3.05, or 7.4%, to $44.40 after the company lifted its guidance.

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