U.S. Indices were predominantly bid on Monday, with upside led by the NASDAQ thanks to gains in the heavyweight tech stocks, while the equal-weighted S&P (RSP) and Russell underperformed. Sectors were more mixed, with strong outperformance in communication and consumer discretionary names, while energy and health care lagged. T-notes were bid across the curve with the curve bull flattening with the lower yields weighing on the Dollar but in turn supporting Gold and the Japanese Yen. The Yen was also buoyed after the Upper-House elections in Japan, which avoided the politically worst-case scenario with PM Ishiba committed to his role in the now minority government. Crude prices settled lower with focus turning to E3 talks on Friday between Iran, France, Germany and the UK, as well as a Russia-Ukraine meeting on Wednesday. On trade, Reuters suggested the EU is to ramp up retaliation plans as US tariff deal prospects dim. Meanwhile, Treasury Secretary Bessent said the EU has become more engaged, noting it does not have to get ugly. Separately, Canada is meeting with US Senators this week, and the US will also be in talks with Taiwan. Regarding India, reports suggested the Indian trade team has returned to India, and a deal with the US is likely by September or October. Focus this week lies on ongoing trade updates, Flash S&P Global PMI data, Treasury supply (20yr and 10yr TIPS) and a flurry of US earnings. Elsewhere, Oil closed lower by 0.5% on Monday while a weaker Dollar saw Gold end the day with a gain of 1.44%.
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For anyone following my Platinum Service it made 270 points yesterday and is now ahead by 2885 points for July 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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