Morning Notes

08/09/2015 Argonaut Morning Note

U.S. financial markets were closed Monday for the Labor Day holiday. In Europe the Stoxx Europe 600 clawed back some of the losses suffered last week to end the session 0.5% higher. The London FTSE also gained 0.5%, while the German DAX and French CAC added 0.7% and 0.6% respectively.

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07/09/2015 Argonaut Morning Note

Wall Street stocks have fallen after a mixed US jobs report clouded prospects for a Federal Reserve interest rate rise amid China-induced global market turmoil. The Labor Department reported the economy added fewer jobs than forecast, 173,000, but the previous two months' job gains were revised upward, pushing the unemployment rate down more than expected to 5.1 per cent. Monday's market closures for the Labor Day holiday were also seen as a factor in the Friday slippage. "Ahead of a three-day weekend ... what we see today, I think, is a risk-off mentality, as both China and European weaknesses have dictated our markets' direction for the last week," said James. The US Market is closed for Labour Day Holiday.

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04/09/2015 Argonaut Morning Note

U.S. stocks' gains faded, as investors focused on coming U.S. employment data. Worries about the health of the global economy have led some analysts to reconsider their forecasts on when the Fed will raise interest rates from record-low levels. U.S. economic reports this week culminate with Friday's employment report for August, which is expected to show an addition of 220,000 jobs, according to economists surveyed by The Wall Street Journal. The unemployment rate is forecast to tick down to 5.2% from 5.3%.  The Dow and the S&P both rose marginally, by 0.1% to 16,375 and 1,951 respectively.

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03/09/2015 Argonaut Morning Note

U.S. stocks rebounded after falling sharply in the previous session on deepening worries about China. The moves come after deep losses Tuesday that sent the Dow careening to a 470-point loss, dashing hopes that the volatility of recent sessions had abated. That selloff was sparked by renewed concerns over slowing growth in China after a weak manufacturing reading from the world's second-largest economy. While headlines out of China have been driving August's wide swings in U.S. stocks, investors' attention will shift back to the U.S. later this week with Friday's jobs report for August. The data could be a key factor in the Federal Reserve's decision over whether to raise interest rates for the first time in nearly a decade at its meeting this month. Economists surveyed by The Wall Street Journal expect 220,000 new jobs were created in August, up from 215,000 in July. The unemployment rate is expected to tick lower to 5.2% from 5.3%. Private-sector jobs data released Wednesday showed that payrolls in the U.S. in August expanded at a more modest-than-expected clip, according to Automatic Data Processing Inc. and forecasting firm Moody's Analytics.

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02/092015 Argonaut Morning Note

U.S. stocks tumbled after weak manufacturing data in China fueled investors' worries about the world's second-largest economy. After calmer sessions on Friday and Monday, traders and investors said they were hoping last week's volatility had passed. However, signs of turbulence returned Tuesday. Still, newly released economic data in the U.S. has remained rather buoyant. Last Friday, the Commerce Department said U.S. consumer spending rose in July, and last Thursday a reading of gross domestic product showed a stronger second-quarter expansion than initially estimated.

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