Morning Notes

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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11/04/2018 Argonaut Morning Note

U.S. stocks climbed intraday, with the Dow gaining more than 450 points, as remarks from Chinese President Xi Jinping soothed concerns about a trade war that have roiled markets in recent weeks. Nine of 11 sectors in the S&P 500 charged higher. Energy stocks in the index led the way, rising 4%, as the price of crude oil added 3.3% to $65.51 a barrel. Technology stocks also outperformed, climbing 2.8%, as Facebook Chief Executive Mar Zuckerberg testified before Congress about the social-media company's handling of personal user data. Facebook shares rose 4.9%. Only utilities and real estate shares, which are considered bond proxies because of the hefty dividends they pay, slumped in the S&P 500, each falling 0.6%. The broad index rose 1.7%, while the technology-focused Nasdaq Composite climbed 2.1%.The Dow Jones Industrial Average rose 429 points, or 1.8%, to 24451, after climbing as much as 532 points earlier in the session. The US gold price rose overnight, jumping 0.3% to 1339.10 US$/oz.

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10/04/2018 Argonaut Morning Note

Stocks pivoted higher Monday as policy makers appeared to dial back the tough tone on trade that rocked markets at the end of last week. The Nasdaq Composite gained 0.51%, as technology stocks staged a rebound. The Dow Jones Industrial Average and S&P 500 added 0.2% and 0.3% respectively. Monday's brighter tone came after Trump administration officials on Sunday softened some of the rhetoric after threatening to impose new tariffs on China, noting the penalties aren't imminent and there is time to work out a deal. All three major indexes fell more than 2% Friday as investors worried that escalating tariffs between the U.S. and China could lead to policies that threaten global economic growth. The tech-heavy Nasdaq Composite is on pace for its 30th move of at least 1% in either direction this year, the most through April 9 since 2009, according to The Wall Street Journal's Market Data Group. The U.S. gold price rose slightly overnight, jumping 0.2% to finish at 1,335.70 US$/oz.

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09/04/2018 Argonaut Morning Note

Growing tensions between the U.S. and China exacerbated investors' fears of an all-out trade war between the world's largest economies, shaving more than 550 points off the Dow Jones Industrial Average as investors braced for more turbulence ahead. All 11 major sectors of the S&P 500 declined, as investors broadly sold stocks, with the deepest declines among companies, such as big industrial manufacturers like Boeing and Caterpillar, that stand to suffer from an escalation in protectionist trade policies. Friday's session marked the S&P 500's ninth 1% swing up or down in the past 11 trading days, a sign of stocks' uneasy footing and resurgent volatility. Investors were already grappling with the threat of inflation rising more quickly than expected, fears that were tamped down Friday after new data showed a steady, expected rise in wages last month, and concerns that technology stocks won't be able to generate the massive gains of previous years. The Dow fell as much as 767 points in the late afternoon before paring its decline to 572 points, or 2.3%, to 23,933. The S&P 500 declined 58 points, or 2.2%, to 2604, while the Nasdaq Composite slid 161 points, or 2.3%, to 6915. For the week, the Dow dropped 0.7%, the S&P 500 fell 1.4% and the Nasdaq declined 2.1%. The U.S. gold price rebounded on Friday night, jumping 0.5% to finish at 1,333.40 US$/oz.

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