U.S. Indexes closed mixed on Tuesday, with the NASDAQ 100 outperforming amid gains in semiconductors and memory names. Materials were the best-performing sector, followed by staples and healthcare; meanwhile, financials and energy lagged, which weighed on the S&P’s performance. Energy traded lower, weighed by the continued downward pressure in crude prices as market optimism builds on a diplomatic solution between the US and Iran, which would bring increased energy supply with it. President Trump noted that US officials met with the Iranian delegation, in what was a “very productive” meeting, with his preference for a deal. However, he threatened Pickaxe Mountain with strikes if the US sees activity taking place there. In response, Al Jazeera reported that Iran’s position has not changed. Earlier reports, citing Iranian sources, noted the removal of military threats is a condition to resume talks. Additionally, Iranian sources downplayed reports from Kyodo and Reuters that Iran was willing to reopen the Strait of Hormuz if the US lifted its blockade. Elsewhere in energy, Trump said they are examining a diesel export ban, a move that would follow growing pressure from officials within Congress to prioritise domestic needs. Despite lower crude prices, US yields were little changed as Money Markets stay aligned with the Fed on one further 25 basis points rate hike in 2026. 2028 Fed voter Collins sees rates on hold through 2027; meanwhile, 2027 voter Barkin said last week’s hike will help restore price stability, although he said “we’ll see” if further hikes are needed. In FX, the Dollar was able to strengthen further on choppy US yields, whilst NZD saw some modest outperformance following remarks from Governor Breman overnight. Fed Governor Barkin said US economic conditions may be firming, and inflation risks outweigh employment risks. He supported last week’s 25bps rate hike to 3.75-4.00%, saying inflation pressures extend beyond energy and tariffs, and that the hike will help to restore price stability. He added that further hikes may be required but did not specify how many. On the economy, Barkin said it is firming rather than weakening, though he would not yet call it overheating; he does not see much evidence that consumer balance sheets are stretched, adding that they will spend as long as the job market remains healthy. Elsewhere, Oil closed lower by 2% while Gold was flat.
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For anyone following my Platinum Service it made 328 points yesterday and is now ahead by 5692 points for September after ending the month of August with a gain of 2645 points after closing July with a gain of 8031 points, after ending June with a new record of 10527 points after ending May with a loss of 1104 points, having ended April with a gain of 1730 points, 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 previous 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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