Morning Notes

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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06/04/2016 Argonaut Morning Note

Global stocks fell as an uncertain global economic picture kept investors cautious. Downbeat economic readings in the U.S. and Europe curbed investors' appetite for stocks and other riskier assets, pushing down major indexes that posted their highest closing levels of the year last week. Every sector of the S&P 500 fell. Utilities, one of the year's biggest gainers, were off, leading the declines. Health-care shares also dropped more than the broader market.  Central banks have stabilized markets after a rocky start to the year, but U.S. equity valuations remain high and concerns around China and oil prices will continue to be in focus this year, said Mike Amey, managing director and portfolio manager at Pimco. Downbeat economic news from the U.S. and Europe also added to investors' concerns. The U.S. trade deficit widened to a six-month high in February, the Commerce Department said.

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05/04/2016 Argonaut Morning Note

U.S. stocks pulled back from 2016 highs after a recent rally spurred by a weakening dollar and stabilizing oil prices. Commodities prices slipped, a negative for several energy and materials shares. Mining company Freeport-McMoRan fell 4.4%, while aluminium producer Alcoa dropped 2.5%. In commodities, U.S. crude oil prices fell 3% to $35.71 a barrel. Investors remain sceptical that a global agreement on oil output levels will be reached in Doha on April 17, after Saudi Arabia on Friday said it would only freeze production if Iran did too. Investors are now gearing up for first-quarter earnings season. Analysts have lowered their forecasts for S&P 500 earnings, which some say could be a damper on the recent rally.

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