U.S. Indices were mixed on Monday with the S&P 500. Dow Jones and Russell 2000 paring some of the post NFP downside, although the NASDAQ added to losses in a tech-led sell off, particularly in semiconductors which are being weighed on by Biden export controls and also reports in ‘’The Information’’ that some of Nvidia’s (NVDA) biggest customers are facing new delays in getting its most advanced AI chips up and running in data centres. Meanwhile, the Dow was the clear outperformer due to upside in heavyweight UnitedHealth (UNH), which rallied after the US proposed a 4.3% avg. increase in Medicare Advantage plan payments for 2026. Elsewhere, T-Notes were choppy in quiet trade as attention turns to US inflation data this week (PPI on Tues, CPI on Wed) while Gilts saw further pressure with UK players looking to inflation and GDP data. In FX, the Dollar saw further upside with DXY breaking above 110.00 but failing to hold the level with the Dollar off highs heading into the European Open. Antipodeans outperformed with China announcing more tools to support the Yuan while the Swiss Franc lagged. Elsewhere, Crude prices were bid, particularly front-month contracts with time spreads seeing notable upside, likely on the impact of new sanctions against Russia from the US, which saw dozens of oil tankers anchor in Asia, Russia and the Middle East. The New York Fed survey of consumer inflation expectations were mixed in December. The 1 Year ahead expectations were unchanged at 3%, although the 3 Year ahead forecast rose to 3.0% from 2.6% in November, while the 5 Year forecasts fell to 2.7% from 2.9%. On job security, the mean perceived probability of losing one’s job in the next twelve months declined by 1.6% to 11.9%. The mean probability of leaving one’s job voluntarily in the next twelve months also declined by 2.0% to 18.2%, taking both readings to the lowest since January 2024. Meanwhile, the mean perceived probability of finding a job, if one’s current job was lost, declined sharply to 50.2% from 54.1% in November, the lowest reading since April 2021. Looking into the report, December year-ahead expected food prices increased while year-ahead expected gas prices were down to the lowest since September 2022. Elsewhere, Oil surged again on Monday ending the session with a gain of 3% while Gold closed 1% lower.
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For anyone following my Platinum Service it made 365 points yesterday and is now ahead by 621 points for January after closing December with a gain of 1997 points after closing November with a gain of 3049 points having finished October with a gain of 2179 points. September saw a gain of 4402 points following a 301-point loss for August after closing July with a gain of 1918 points while June closed with a gain of 2074 points, having made 1843 points in May. The Platinum Service made 4010 points in April after ending March with a gain of 2113 points. February closed with a gain of 1606 points, after closing January with a gain of 3675 points. December saw a gain of 1890 points after finishing November with a gain of 1734 points. October ended with a gain of 3184 after closing September with a small gain of 228 points, after finishing August with a gain of 1485 points, following a small gain of 285 points gain in July, after closing June with a gain of 2683 points. May closed with a gain of 3205 points. April saw a gain of 3354 points while March closed with a gain of 6168 points. The Platinum Service made a record 9619 points last October. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1900 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification
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