Morning Notes

13/04/2016 Argonaut Morning Note

Energy shares led U.S. stocks higher Tuesday after oil prices added to the session's gains. A recovery in stocks from lows hit in February has coincided with a rally in oil prices from multi-year lows. While oil prices are still historically low, the rebound has helped alleviate some investors' concerns about how commodities-linked companies will fare later this year. The top 20 S&P 500 gainers were oil companies. Investors still face challenges. Despite the recent stock-market rebound, the S&P 500 has closed in positive territory for the year only 11 times in 68 sessions, according to the WSJ Market Data Group. Many investors are bracing for what is expected to be a grim first-quarter earnings season.  Analysts expect the S&P 500 to show a fifth consecutive quarter of declining revenue, as companies grappled with steep declines in oil prices and a stronger dollar at the start of the year.

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12/04/2016 Argonaut Morning Note

U.S. stocks gained ahead of the start of the first-quarter earnings season.  The U.S. first-quarter earnings season unofficially begins later Monday with a report from aluminum giant Alcoa. Several large U.S. banks are also scheduled to report earnings this week, including J.P. Morgan, Bank of America and Citigroup. Analysts are projecting weak earnings, with lower oil prices and a stronger dollar taking a toll on corporate profits. Earnings for the S&P 500 are forecast to contract about 8.5% from a year earlier, according to FactSet estimates as of March 31, with particularly downbeat reports expected from the energy sector. Materials companies were among the biggest gainers in the S&P 500, rising about 1%. Newmont Mining rose 6% as the price of gold gained 1.3% to $1,259 an ounce, near a three-week high.

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11/04/2016 Argonaut Morning Note

Rising oil prices buoyed stocks Friday, but major U.S. indexes still ended a rocky week in the red. Stocks around the globe declined this week, as worries resurfaced about the ability of central bankers to lift a sluggish global economy after years of easy monetary policy. It marks the second week of declines in three weeks for major U.S. stock indexes. The choppiness in the markets follows a rally that started in mid-February, when stocks posted gains of at least 1% every week for more than a month.

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08/04/2016 Argonaut Morning Note

U.S. stocks pulled back Thursday, a day after the U.S. Federal Reserve released minutes from its March policy meeting that showed officials were unlikely to raise interest rates in April. Stock markets have struggled for direction this month following a sharp rally that began in mid-February, spurred by easing concerns over the health of the global economy and support from central banks.

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07/04/2016 Argonaut Morning Note

U.S. stocks advanced, as rising oil prices and upbeat data on China's services sector helped ease concerns about the global economy. Stocks pared some of their gains after the release of minutes from the Federal Reserve's March meeting. The move higher follows two consecutive sessions of losses for major indexes, including the S&P after surging from their Feb. 11 lows, and many investors say they are waiting for first-quarter earnings results to get a sense of whether the rally has more room to run. Minutes from the Federal Reserve's March policy meeting showed officials were leaning against an April rate increase when they last met.

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