Morning Notes

27/10/2017 Argonaut Morning Note

U.S. stocks were mostly higher Thursday after several companies reported upbeat earnings and European Central Bank officials unveiled plans to scale down but extend their bond-buying program. Corporate results continued to drive swings in individual U.S. stocks in one of the busiest days for third-quarter reports. Without geopolitical developments or major legislative changes in Washington, D.C., money managers say they are closely following earnings season. The Dow Jones Industrial Average was up 0.3% in the last half-hour of trading, recouping some of the losses suffered Wednesday. The S&P 500 rose 0.1%, while the Nasdaq Composite fell less than 0.1%.

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26/10/2017 Argonaut Morning Note

A raft of downbeat earnings sparked broad declines in U.S. stocks Wednesday, sending the Dow industrials down more than 100 points and putting the blue-chip index on track for its worst session in weeks. Results from American companies have generally been solid, investors and analysts said. But after several quarters of strong earnings, some cautioned that expectations are high, which could limit gains in stocks. The Dow Jones Industrial Average fell 0.5%. The S&P 500 declined 0.6%, with all 11 sectors falling, and the Nasdaq Composite shed 0.7%.

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25/10/2017 Argonaut Morning Note

The Dow Jones Industrial Average surged Tuesday, putting the blue-chip index on track for its best day since September. Better-than-expected earnings results from Caterpillar and 3M, among others, helped support major indexes after stocks had fallen a day earlier. Strong results from U.S. companies, as well as solid economic growth around the world, have underpinned stock markets and helped push them to record highs over the past year. About 24% of the companies in the S&P 500 have reported results for the third quarter so far, with this week slated to be one the busiest, according to FactSet. By the end of Friday, more than half of the major index's companies will have reported results for the most recent quarter.

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24/10/2017 Argonaut Morning Note

U.S. stocks slipped Monday after major indexes finished last week with a trifecta of records. A flurry of earnings reports released before the opening bell sparked swings in individual stocks. With nearly 200 S&P 500 companies on this week's earnings calendar, according to FactSet, analysts and investors expect corporate news to continue to drive much of the action in the coming days. While some sectors like the insurance industry are expected to report weaker than expected results than in previous years, partially because of damage from hurricanes earlier this year, many are looking through the one-time hits and still expecting robust growth into 2018.

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23/10/2017 Argonaut Morning Note

Stocks extended their remarkable streak of gains Friday. The Dow Jones Industrial Average closed above 23000 for the first time Wednesday, and its fresh high Friday marked the most records in a calendar year for the index since 1995. Earlier this month, the Dow's advance that started in March 2009 became the third-longest bull market in the index's history. The Dow Jones Industrial Average rose 165.59 points, or 0.7%, to 23328.63 on Friday, notching its 53rd record close of 2017. The index's weekly gain of 2% was its biggest since mid-September. The S&P 500 gained 13.11 points, or 0.5%, to 2575.21 on Friday, while the Nasdaq Composite added 23.99 points, or 0.4%, to 6629.05.

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