Morning Notes

23/01/2015 Argonaut Morning Note

The big news overnight was the European Central Bank’s (ECB) decision to buy 60 billion euros (US$69 billion) a month of public and private debt until September 2016 in an attempt to ward off a deflation spiral in the region, causing global stocks to rally. In the US stocks rose for the fourth consecutive day with the S&P 500 gaining 1.5% to 2,063.1, the highest since Dec. 30. The Dow Jones Industrial Average climbed 259.7 points, or 1.5%, to 17,814.0.

read more...

22/01/2015 Argonaut Morning Note

The Dow industrials turned little changed amid mixed corporate earnings from UnitedHealth Group Inc. and International Business Machines Corp. Earlier, stocks gained after reports suggested the European Central Bank was set to deliver a bond-buying program that matched investors' expectations. The Dow advanced 39 points, or 0.2%, to 17,554 and the S&P 500 rose 10 points, or 0.5%, to 2,032.

read more...

21/01/2015 Argonaut Morning Note

U.S. stocks finished flat on Tuesday, as the continued slide in oil prices fuelled investor concerns about global economic growth. Investors say the months-long decline raises worries about demand, since it comes alongside slowing growth in Asia and economic troubles in Europe. While lower oil prices are expected to help some consumer-focused shares, stocks of retailers fell sharply on Tuesday. Investors are closely watching fourth-quarter earnings reports to determine the implications of falling oil prices and sluggish international demand. The dollar traded at its highest level against the Canadian dollar since April 2009, as investors bet that the Bank of Canada would lower its expectations for economic growth as falling crude oil prices have hamstrung the country's energy sector.

read more...

20/01/2015 Argonaut Morning Note

Europe's broad equity-market benchmark closed higher Monday, hitting a seven-year high as investors weigh up the prospects for quantitative easing from the European Central Bank. The Stoxx Europe rose 0.2% to 353.18, its strongest close since early January 2008, according to FactSet data. That added to gains of nearly 4% over the past two sessions.

read more...

19/01/2015 Argonaut Morning Note

Wall Street stocks have jumped as oil prices rebounded, snapping a five-day losing streak that had left the equity market looking oversold to some investors. The Dow Jones Industrial Average gained 190.86 points (1.10 per cent) on Friday to 17,511.57. The broad-based S&P 500 rose 26.75 (1.34 per cent) to 2,019.42, while the tech-rich Nasdaq Composite Index surged 63.56 (1.39 per cent) to 4,634.38. Investors were reassured by a healthy 5.3 per cent rise in US oil prices as the International Energy Agency declared there were signs "the tide will turn" in the oil market following recent multi-year lows.

read more...