U.S. Indexes closed in the red on Wednesday and saw some pressure in the US afternoon amid reports that the Trump administration is mulling export controls to China on goods made with or containing US software, although some of the move attempted to pare as digestion of the further details seemed less extreme. Nonetheless, risk-off trade resumed into the close. Sectors were mixed with Industrials and Consumer Discretionary residing as the laggards, and Energy outperforming, buoyed by gains in the crude complex. Before settlement, benchmarks were already boosted by bullish factors but notably extended on two reports: 1) Trump administration lifts key restriction on Ukraine’s use of Western long-range missiles, via the Wall Street Journal, and 2) Bessent said a substantial pick up in Russia sanctions is expected, and will be announced overnight or tomorrow. Back to stocks, there was a deluge of earnings with disappointing TXN and NFLX reports, the arguable highlights. The Dollar was choppy, but it was more or less flat at pixel time with the Canadian Dollar boosted by aforementioned oil prices, while Sterling was hit on a cooler-than-expected inflation print, which saw a markedly dovish move in Bank of England pricing. Spot gold tested USD 4000/oz to the downside, but has since rebounded, albeit remains lower on the session, with a lot of the areas in the market that have witnessed extreme upside (gold, nuclear power stocks, rare earths) coming under notable pressure this week. T-Notes settled flat in choppy trade with focus on US/China relations, with little move seen on a solid 20-year auction. Elsewhere, Oils urged closing higher by 3.5% while Gold ended Wednesday’s volatile session with a loss of 0.5%
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For anyone following my Platinum Service it was made 287 points yesterday and is now ahead by 4267 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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