U.S. Indexes were mixed on Tuesday, with the S&P and NASDAQ 100 ultimately closing little changed in choppy trade, while the Dow Jones was strong while the Russell 2000 was again weak. Sectors were mixed amid a flurry of earnings. Consumer Discretionary and Industrials outperformed following strong earnings from General Motors (GM), boosting auto names, while Industrials benefitted from upside in 3M (MMM) and RTX (RTX), albeit Lockheed Martin (LMT) and Northrop Grumman (NOC) earnings disappointed. Utilities, Communications, and Materials lagged, with the latter hit by tumbling precious metal prices. Gold saw its largest absolute drop on record, which fell from near ATH levels earlier in the session at USD 4,375/oz, with a fall to a low of USD 4,087/oz later in the session, with profit taking, easing credit concerns, and a more friendly tone towards China from Trump all cited for the move. T-Notes were bid, led by the long-end, perhaps as the sharp downside in gold saw those opt for a less volatile traditional safe-haven asset. In FX, the Japanese Yen was weaker after LDP Leader Takaichi was elected as PM after the party formed a coalition with the Innovation Party, enabling the Takaichi trade. Meanwhile, the Canadian Dollar was the strongest following a hot CPI report. Crude prices were choppy, seeing downside on Trump pushing back against a move into Gaza from Middle Eastern countries to “straighten out” Hamas, but rallied on reports that the planning of a Trump/Putin meeting has come to a halt, with highs seen on reports that the US is to buy 1million barrels of oil for the SPR. Elsewhere, Oil closed higher by 0.5% while as mentioned above Gold ended Tuesday’s session with a near 6% fall.
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For anyone following my Platinum Service it was lost 855 points yesterday and is now ahead by 3980 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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