U.S. Indices closed at session highs on Tuesday (SPX +0.6%, NDX +0.5%, RUT +0.6%) as comments from US Commerce Secretary Lutnick offer optimism over the US-China trade talks. While US-China trade talks have yet to conclude, session highs in stocks were seen on Lutnick’s reiteration that trade talks are going well. Sectors closed largely higher, with gains led in Energy (XOM +2.2%, CVX +1.9%) and Consumer Discretionary, while Industrials lagged in the red. For communications, the conversation was on OpenAI tapping Google (GOOGL +1.4%) in an unprecedented cloud deal, reducing OpenAI’s dependency on Microsoft (MSFT -0.4%). Early in the US afternoon, stocks were briefly hit by US President Trump telling Fox News that Iran is becoming much more aggressive in nuclear talks. On which, a brick wall between the US and Iran has seemingly formed, with neither side willing to give up on its demands regarding the prospect of uranium enrichment in Iran. The headline marked session highs in crude prices, which then headed lower into settlement following the EIA STEO, which marginally lowered its 2025 world oil demand forecast. However, the OPEC Sec General suggested oil demand grow this to continue, with no peak in sight. In FX, the dollar saw mixed price action, benefiting most notably against GBP following a poor UK jobs report. Gains were also present against Havens, while modest weakness was incurred vs the EUR, CAD, and AUD. The US Treasury curve flattened, albeit changes in yields were relatively small following an average 3yr note auction. Still, attention remains on the US-China trade talks (could go into tomorrow), but also on Wednesday’s US CPI report. Headline CPI is expected to rise by 2.5% Y/Y, vs the April read of 2.3%, with forecasts ranging between 2.2-2.7%. The M/M print is expected at 0.2%, matching the prior pace. Core CPI is expected to rise by 2.9% in May, accelerating from the prior 2.8%, with analyst forecasts ranging between 2.7-3.1%. The M/M core print is expected to tick up to 0.3% from 0.2%. Elsewhere both Oil and Gold closed lower on Tuesday by 0.58% and 0.2% respectively.
To mark my 3200th 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 to demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details
For anyone following my Platinum Service it made 705 points yesterday and is now ahead by 2094 points for June, 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
Recent Comments