U.S. Indexes saw choppy trade on Monday, with equities ultimately closing flat while oil prices were volatile, settling off highs as uncertainty around US/Iran developments persisted. The cancellation of talks over the weekend kept sentiment fragile, with mixed headlines throughout the session offering little clarity on the path forward. Geopolitical developments remained the key driver. Iran stated its military should have control over the Strait of Hormuz, while also proposing to reopen the Strait if the US lifts its naval blockade. Reports suggested the US has requested negotiations, although the White House stopped short of confirming it is considering Iran’s proposal, noting an official response from President Trump is expected soon. In Equities, sector performance was mixed. Communication Services outperformed, supported by strong Verizon earnings, while Tech saw mixed moves after Microsoft announced it will no longer pay a revenue share to OpenAI but later said Accenture signed a firm-wide Copilot licence. Chip names were pressured after Poet Technologies plunged on cancelled orders, weighing on peers such as Marvell. In FX, cyclical currencies gained as equities pared earlier losses, weighing on the Dollar. Antipodes led the upside, while traditional havens lagged. In commodities, crude prices were bid but off highs amid the geopolitical backdrop, while precious metals were softer. In rates, Treasuries were weaker as oil prices rose, with auctions having limited impact despite stronger demand in the 2-year relative to the 5-year. There was no notable US data, with focus this week turning to a heavy slate of central bank meetings, including the Bank of Japan overnight and the Fed on Wednesday. There was no tier 1 US data or Fed speak, although over the weekend, Senator Tillis said he would support Warsh as Fed Chair following the Department of Justice dropping its probe into Powell. Elsewhere, Oil closed higher by 2.6% while Gold ended Monday’s session with a 0.6% fall.
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For anyone following my Platinum Service it was made 35 points yesterday and is now ahead by 1630 points for April after ending March with a massive gain of 9002 points, having closed February with a strong gain of 5482 points after ending January with a gain of 4757 points, having closed December with a gain of 2599 points, after ending the month of November with a gain of 4542 points, after ending October with a nice gain of 5110 points after closing September with a gain of 3774 points while 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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