Morning Notes

18/04/2018 Argonaut Morning Note

U.S. stocks rose intraday, driven by strong corporate results, sending the Dow industrials back into positive territory for 2018. The gains extended Monday's rally and put major indexes on track for their eighth day of gains in the past 11 trading sessions. Volumes, however, have been light, suggesting some investors are remaining on the sidelines as geopolitical tensions simmer. The Dow Jones Industrial Average climbed 214 points, or 0.9%, to 24787. The S&P 500 added 1.1%, and the tech-heavy Nasdaq rose 1.7%. Helping boost sentiment, Netflix shares jumped 9.8% after Netflix reported subscriber growth that beat its own forecast. The stock is by far the best performer in the S&P 500 this year, up 76%. The U.S. gold price rose overnight, jumping 1.7% to 1,347.20 US$/oz.

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17/04/2018 Argonaut Morning Note

The Dow Jones Industrial Average gained 0.9% in recent trading. The S&P 500 added 0.8%, while the Nasdaq Composite rose 0.6%.  The Dow Jones Transportation Average, an index of 20 of the largest U.S. airlines, railroads and trucking firms, climbed 2.2%, its biggest gain in more than a month. Several banks on Friday saw their share prices fall after reporting strong earnings, including JPMorgan Chase, for example. On Monday though, investors appeared willing to temporarily put those concerns aside. Shares of J.B. Hunt rose 6.3%, the most of any other stock in the S&P 500. Logistic firm C.H. Robinson Woldwide added 3.5%, while rail-road operators Norfolk Southern and Kansas City Southern gained 1.5% each.  The US Gold price gained 0.01% to finish at 1345.50 $USD

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Argonaut Morning Note 16th of April 2018

U.S. stocks slipped Friday but notched gains for the week, buoyed by rallying energy shares and signs that a trade spat between the world's top economies was easing. Despite the day's losses, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite each rose more than 1% for the week, thanks to a rebound in technology shares that had been hit hard in March, as well as a jump in energy shares. While bank shares fell Friday, a move some attributed to investors largely pricing in robust results ahead of the earnings reports as well as concerns over continuing investigations at Wells Fargo, the KBW Nasdaq Bank Index of large U.S. lenders ended the week up 1.2%. The Dow industrials fell 122.91 points, or 0.5%, to 24360.14, while the S&P 500 lost 7.69 points, or 0.3%, to 2656.30 and the Nasdaq Composite declined 33.60 points, or 0.5%, to 7106.65. One of the best-performing sectors in the S&P 500 for the week was technology, where shares took a hit last month as backlash over Facebook's handling of user data raised fears among investors of tighter regulations. Energy shares in the S&P 500 gained 1.1% Friday, boosted by a rally in oil prices. The US gold Price gained 0.83% to finish at 1345.40 $USD on Friday.

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13/04/2018 Argonaut Morning Note

Bank shares surged intraday, helping major U.S. indexes rebound, as a momentary cool-down in geopolitical tensions helped investors reset their focus on the start of earnings season. The Dow Jones Industrial Average rose more than 200 points, recouping Wednesday's losses that were triggered by concerns of possible U.S. military intervention in Syria, as well as simmering fears around whether global synchronized growth will be disrupted by a trade war. Some of those fears eased after President Donald Trump appeared to tone down the rhetoric on Syria. Without any significant update on how the U.S. plans to proceed with its trade tariffs, investors turned their attention toward the optimistic profit projections analysts have set for first-quarter results. The US gold Price is currently down 1.40% at 1334.30 $USD.

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12/04/2018 Argonaut Morning Note

The Dow Jones Industrial Average fell Wednesday, reversing a recent rebound, as investors parsed escalating geopolitical tensions and the latest gauge of U.S. inflation. The Dow industrials fell 0.9%. The S&P 500 declined 0.5%, and the Nasdaq Composite fell 0.3%. Major indexes posted their largest one-day rise in more than two weeks Tuesday but remain more than 6.5% off all-time highs hit earlier this year. U.S. crude oil climbed 2% to its highest level since December 2014, supporting shares of energy firms Investors were digesting the latest updates on the economy and monetary policy. U.S. The consumer-price index fell 0.1% from a month earlier, the first decline since May 2017. Excluding energy and food, consumer prices rose 0.2%, extending a trend of steady growth. Among individual stocks, Facebook shares added 1.4%.Netflix shares climbed 2.2% to $304.71 after JPMorgan Chase analysts raised their price target on the streaming giant to $328 from $285. Shares of Fastenal shed 6.3% after the maker of fasteners and manufacturing tools posted quarterly earnings that were in line with expectations. The US Gold price rose overnight jumping 1% to 1352.8 $US/oz.

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