U.S. Indexes closed mixed on Monday, with the tech-heavy NASDAQ 100 the only major Index to finish marginally higher. Technology and Communication Services were the only sectors to outperform, alongside Energy, with the former supported ahead of Alphabet’s earnings on Wednesday after reports the company is developing a new server chip. Health Care and Materials lagged. There was little in the way of macro catalysts, with no US economic data and Fed officials in their blackout period ahead of next week’s FOMC meeting. The crude complex was volatile but ultimately settled higher following another barrage of geopolitical headlines. Overnight, the US and Iran exchanged strikes for a tenth consecutive night, while reports throughout the session suggested the conflict is more likely to escalate than de-escalate, despite officials indicating diplomatic channels remain open and talks continue. Treasury yields rose across the curve as higher oil prices and the escalating geopolitical backdrop lifted inflation concerns. Reports that Iran threatened the Bab el-Mandeb shipping route added to the risk premium, weighing on Treasuries. In FX, the Dollar was mixed against its peers. The Australian Dollar outperformed, supported by broad strength in Chinese assets, while Sterling and the Canadian Dollar were little changed despite UK political developments and softer-than-expected Canadian inflation data, respectively. The UK confirmed Andy Burnham as its new Prime Minister, although the appointment of Healey as Chancellor came as more of a surprise. Precious metals were mixed, with spot gold edging slightly lower while silver outperformed while oil ended Monday’s session with a 0.5% gain.
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For anyone following my Platinum Service it made 345 points yesterday and is now ahead by 5256 points for July 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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