Friday’s markets were not just about more weak data – important as that was with US Housing Starts, Housing Permits and Consumer Sentiment all much weaker than expected and driving the US dollar and US bond yields lower. Amazon’s $13.7bn bid for Whole Foods sent shivers down the spine of the US consumer staples sector, off 2% at one point with $39bn was knocked off the market cap of the sector, led by WalMart. Amazon is promising to bring more automation and lower food prices to a company dubbed ‘Whole Paycheck’. More structural disinflation may lie ahead. Despite the hit to consumer staples, the broader stocks markets managed to (just) close in the black – the NASDAQ again the exception, down 0.22% to be 0.9% lower on the week and more than 3% off its earlier June highs. The S&P500 closed just 0.03% higher and 0.1% up on the week and the Dow +0.11% to be 0.1% w/w. The VIX lost 0.52 to 10.38 and is 0.32 down on the week.

To mark my 1350th issue of Tradernoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on bryan@tradernoble.com for details.

For anyone following my Platinum Service it made 20 points on Friday and is now ahead by 533 points for June having made 1071 points in May, 1376 in April, 1335 in March, 1481 in February and 1734 in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1750 points.

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