Morning Notes

18/06/2015 Argonaut Morning Note

US Stocks rose and the dollar weakened as the Federal Reserve signalled that interest rates would increase more slowly than many investors had been expecting. Many investors read the statement as affirmation that the first interest-rate increase in nearly a decade would happen this year. But fund managers say expectations of the first rate increase are already reflected in financial markets, prompting market watchers to look beyond it.

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17/06/2015 Argonaut Morning Note

U.S. stocks rose Tuesday, rebounding from two days of losses, as investors awaited news on Greece's bailout talks and the outcome of the Federal Reserve's policy meeting. All of the S&P 500's sectors were up, led by gains in consumer-staples stocks. The Fed kicks off its two-day meeting Tuesday. While it isn't expected to raise interest rates at this meeting, investors will parse the central bank's statement and Chairwoman Janet Yellen's news conference for clues on how officials view the U.S. economy and when they will feel comfortable raising rates.

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16/06/2015 Argonaut Morning Note

Stocks dropped Monday, but pared their steepest losses by the afternoon, following the latest setback in bailout talks between Greece and its European creditors. The Dow Jones Industrial Average lost 108 points, or 0.6%, to 17,791, after shedding as much as 200 points earlier in the session. The S&P 500 index lost 10 points, or 0.5%, to 2,084.

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15/06/2015 Argonaut Morning Note

US stocks have closed a choppy week on a down note, following European markets lower on fears of a Greek debt default. The Dow Jones Industrial Average fell 140.53 points (0.78 per cent) to 17,898.84 on Friday. The broad-based S&P 500 fell 14.75 points (0.70 per cent) at 2,094.11, while the tech-rich Nasdaq Composite Index dropped 31.41 points (0.62 per cent) to 5,051.10. European equity markets tumbled as eurozone officials confirmed that at a meeting in Bratislava on Thursday they had war-gamed "worst case" scenarios of Greece not being able to pay its bills. Next week's Federal Reserve policy meeting that will update the Fed's plan to hike interest rates in the coming months. Petroleum stocks dropped on lower oil prices. Dow members Chevron and ExxonMobil fell by 1.2 per cent and 1.3 per cent respectively, while offshore driller Transocean lost 2.0 per cent. Pharmaceuticals were also weak. Merck lost 1.8 per cent, while biotech companies Amgen and Biogen both fell 1.2 per cent. In the tech sector, Intel lost 1.7 per cent and Apple and Cisco Systems both fell 1.1per cent. All three companies are in the Dow.

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11/06/2015 - Argonaut Morning Note

U.S. stocks climbed Wednesday as technology and financial stocks rallied and investors embraced encouraging signals over Greece's financing talks. The Dow Jones Industrial Average rose 236 points, or 1.3%, to 18,000. The S&P 500 index added 25 points, or 1.2%, to 2,105. Stocks extended gains on both sides of the Atlantic after reports suggested Greece and its international creditors may be inching closer to a bailout compromise.

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