U.S. Indexes saw gains in risk-on trade amid very light newsflow to start the week amid the Fed blackout and lack of US data given the Government shutdown. On which, White House Economic adviser Hassett thinks the shutdown is likely to end sometime this week, but did not give any reason why, and added if the shutdown does not end, the White House is to look at stronger measures. While headline action was sparse, US President Trump comments largely echoed recent remarks, noting if a deal is not made with China, they will face 100% tariffs (existing tariffs + 100% additional tariff threat). He said that he wants the US and China to thrive together and stressed he will be meeting Chinese President Xi in South Korea, and thinks they will end up with a strong trade deal. Sectors, ex-Consumer Staples, closed in the green with Communication Services, Industrials, and Technology leading the gains, with the latter buoyed by a trifecta of positive Apple (AAPL) newsflow . In FX, the Dollar eked out mild gains with Antipodeans profiting off of risk-on sentiment, while the Chinese Yuan was boosted overnight after better-than-expected Q3 GDP Q/Q. The crude complex saw choppy trade as focus continued to reside on geopolitics, with the Israel/Hamas ceasefire just about maintained, despite reports over the weekend that Hamas violated the ceasefire agreement, which Israel then responded to, before resuming the ceasefire thereafter. Meanwhile, Trump continues to try and sort a Russia/Ukraine ceasefire. T-Notes saw mild gains in quiet trade, while spot gold printed another All-Time-High.
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For anyone following my Platinum Service it was flat yesterday and is still ahead by 4845 points for October after closing September with a gain of 3774 points after ending August with a gain of 3362 points after closing July with a gain of 3753 points after closing June with a gain of 3530 points, having closed May with a gain of 3606 points, after closing April with a gain of 7685 points after closing March with a gain of 2254 points while closing February with a gain of 4180 points. January ended with a gain of 2768 points while 1997 points were gained in December. October ended with a gain of 2179 points, after closing September with a gain of 4402 points, following a loss of 301 points in August. July gained 1908 points while June saw a gain of 2074 points. The Platinum Service made a record 9619 points in October 2022. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 2300 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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