Morning Notes

21/03/2018 Argonaut Morning Note

U.S. stocks rose intraday, a day ahead of the Federal Reserve's policy decision, though social media stocks continued to struggle. The Dow Jones Industrial Average climbed 116 points, or 0.5%, to 24727. The S&P 500 and the technology-heavy Nasdaq Composite each rose 0.1%, after the indexes on Monday logged their biggest daily losses since Feb. 8 as tech stocks led a broad downturn. The S&P 500's tech sector fell 0.2% as political leaders in the U.S. and Europe called for inquiries into whether Facebook failed to stop improper access and handling of user data and it was reported that the Federal Trade Commission was probing the company regarding the issue. Shares of Facebook were down 5.2%, after sliding 6.8% Monday and wiping out about $36 billion in market value. The US gold price fell overnight by 0.44% to 1310.80 US$/oz.

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20/03/2018 Argonaut Morning Note

Shares of Facebook plummeted Monday as a broader shakeout among technology stocks put major U.S. indexes on pace for their worst day since early February. Stocks opened lower and continued to fall as shares of Facebook suffered their biggest decline in roughly four years after it said a firm with ties to the 2016 Trump campaign improperly kept data on tens of millions of users.

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19/03/2018 Argonaut Morning Note

U.S. stocks bounced Friday but notched weekly losses, after a shaky stretch of trading renewed many investors' fears over the course of trade policy. Stocks struggled for traction throughout the week as investors weighed fresh rebukes to the Trump administration's protectionist trade agenda. Investors dumped shares of materials and industrial companies, which some fear could suffer if U.S. tariffs drive up costs for manufacturers. Bank shares also slid earlier in the week, hurt by a strengthening of U.S. government bonds that drove yields lower.

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16/03/2018 Argonaut Morning Note

U.S. stocks rose intraday, putting the Dow Jones Industrial Average and S&P 500 on track for their first day of gains in four sessions. The indexes still showed signs of weakness, as stocks swung between small gains and losses earlier in the session. The bull market is struggling to regain some of its momentum, as investors continued to assess the implications of the Trump administration's protectionist trade agenda.

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15/03/2018 Argonaut Morning Note

Shares of industrial and materials firms pushed the Dow Jones Industrial Average and S&P 500 lower for the third straight session Wednesday, as investors weighed new signs that protectionist trade policies could spread. Stocks had come under pressure earlier in the month as investors worried that U.S. tariffs on steel and aluminium could hurt firms that use the metals to manufacture goods.

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