Morning Notes

17/03/2015 - Argonaut Morning Note

U.S. stocks rose Monday, rebounding from Friday's losses as the dollar weakened against other currencies and European stocks gained. Market participants remain focused on the Federal Reserve, which begins its two-day policy meeting on Tuesday. The Fed statement and Fed Chairwoman Janet Yellen's remarks in the subsequent news conference on Wednesday will be parsed for clues on the timing and pace of the central bank's eventual rate increases. The Dow rose 228 points, or 1.3%, to 17,977 and the S&P 500 advanced 28 points, or 1.4%, to 2,081.

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16/03/2015 Argonaut Morning Note

Wall Street stocks have ended lower on renewed anxiety over falling oil prices and the rising US dollar. The Dow Jones Industrial Average fell 145.91 points (0.82 per cent) to 17,749.31. The broad-based S&P 500 dropped 12.55 (0.61 per cent) to 2,053.40, while the tech-rich Nasdaq Composite Index declined 21.53 (0.44 per cent) to 4,871.76. US oil prices finished the week below $US45 a barrel after the International Energy Agency warned that rising US crude inventories were approaching the limits of storage capacity amid the global oversupply. The euro got as low as $US1.0466, its lowest level since January 2003. Investors fear the strong US dollar will harm US exports and emerging market economies, analysts said.

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13/03/2015 Argonaut Morning Note

U.S. stocks rose Thursday, rebounding after the biggest two-day decline since late January. Stocks have bounced around lately, with the Dow moving 100 points or more in four of the past five sessions. On Tuesday the index fell more than 300 points, but with Thursday's increase the Dow is nearly flat for the week. Much of the rise and fall in the US market has been on speculation of the US Government raising interest rates.

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12/03/2015 Argonaut Morning Note

U.S. stocks drifted between gains and losses Wednesday as investors continued to focus on the path of U.S. monetary policy. Many investors say that uncertainty about the Fed's monetary policy could exaggerate stock-market swings. Still, the Fed is likely to take a slow approach to raising rates, which means returns on stocks will remain more attractive than on other assets. The S&P and Dow both fell 0.2% to 2,040 and 17,635 respectively.

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11/03/2015 Argonaut Morning Note

U.S. stocks fell on Tuesday as the dollar rose to a nearly 12-year high against the euro and bond yields in Europe hit record lows. Barnes & Noble fell 9.1% as its fiscal third-quarter earnings fell short of expectations amid a sharply higher income tax expense. American Airlines Group Inc. shares fell 1.1 % as the airline said passenger traffic declined in February. Rival airline United Continental Holdings Inc.'s shares also declined, down 2.1%, as its capacity fell slightly in February from the year-ago period while passenger traffic was unchanged. The dollar rose to new multiyear highs against developed-market currencies on Tuesday, fuelled by higher expectations for a midyear rise in U.S. interest rates.

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