Morning Notes

24/04/2015 Argonaut Morning Note

The Nasdaq Composite Index breached its all-time closing high for the first time in 15 years on Thursday. The S&P and Dow were both up marginally, rising 0.2% and 0.1% respectively.

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23/04/2015 Argonaut Morning Note

U.S. stocks rose Wednesday, a continuation of back-and-forth action amid mixed first-quarter earnings. The Dow Jones Index climbed 89 points, or 0.5%, to 18,038 and the S&P 500 Index rose a similar amount to 2,108. Including results from 113 companies in the S&P 500, earnings are on track to fall 3.9% from a year earlier, according to FactSet. About 76% of those companies have beaten profit expectations that were slashed heading into the reporting season.

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22/04/2015 Argonaut Morning Note

U.S. stocks declined Tuesday after a mixed bag of earnings reports. This week earnings are at the forefront for investors, as it is one of the busiest weeks for companies reporting first-quarter results. Including results from 77 companies, first-quarter earnings for S&P 500 companies are on track to fall 4.2% from a year ago, according to FactSet.

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21/04/2015 Argonaut Morning Note

U.S. stocks bounced back on Monday from Friday's steep declines, lifted by upbeat earnings news and an announcement of more stimulus from China. Stocks kicked off the session sharply higher and stuck to a narrow trading range through the afternoon. The Dow Jones Industrial Average rose 209 points, or 1.2%, to 18,035. The S&P 500 added 19 points, or 0.9%, to 2,100. The rebound follows a global selloff Friday fuelled by jitters over Greece's finances and a batch of subpar earnings reports. But an improvement in the earnings picture Monday, coupled with a recovery in many markets overseas, helped propel stocks from their lows. The coming week marks a key period in the first-quarter earnings season, with about 30% of companies in the S&P 500 scheduled to report results.

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20/04/2015 Argonaut Morning Note

The Dow Jones Industrial Average fell 279.47 points, or 1.5%, to 17826.30, its biggest one-day percentage drop since March 25. The index snapped a two-week winning streak. The Stoxx Europe 600 index dropped 1.8%, its largest one-day decline since early January, mirroring declines in other major indexes across the continent. In the U.S., weakness in first-quarter U.S. corporate earnings also weighed on the market, traders said. The S&P 500 declined 23.81 points, or 1.1%, to 2081.18, and the Nasdaq Composite fell 75.98 points, or 1.5%, to 4931.81. Exacerbating Friday's selloff in equities and ballooning risk-aversion were fears surrounding China, with the world's second- largest economy allowing fund managers to lend stocks for short selling to increase the supply of shares, the Securities Association of China said on its website on Friday.

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