U.S. Indices closed the day mixed on Tuesday, as the tech-heavy NASDAQ 100 lagged and was weighed on by weakness in mega-cap names Nvidia, Microsoft, Broadcom, and Netflix, while the Russell 2000 pared Monday’s losses. Amid a lack of tier 1 data and Fed blackout ahead of the confab next Wednesday, focus resided around a deluge of US earnings and also remarks from President Trump/Bessent. Trump announced a trade deal with both the Philippines and Indonesia, which will pay 19%, while he said they will probably be meeting Xi in the not too distant future, and Xi has invited him to China. Bessent suggested that August 1st is a pretty hard deadline, despite saying on Monday that the quality of the deal is what matters, not the time keeping, and will be in talks Monday and Tuesday with China in Stockholm. Sectors are largely firmer with Tech the clear laggard, while Health resides at the top and is buoyed by Danaher (DHR). It is also worth noting that in the midst of earnings season, some of the tariff impact is starting to show, with GM tumbling post earnings following weak guidance, while RTX also took a hit after it cut its profit guidance amid the impact of tariffs. The Dollar saw losses, to the benefit of all G10 FX peers, while the crude complex was also lower in light of energy-specific newsflow ahead of private inventory metrics after-hours. T-Notes saw slight gains across the curve and were largely supported by aforementioned Bessent’s comments, while safe haven currencies generally caught a bid. Ahead, Tesla and Alphabet earnings on Wednesday are the highlights in what is a quiet week in terms of scheduled events, ahead of a blockbuster one next week. Overnight the Nikkei has surged following a 15% trade agreement between the U.S. and Japan. The Nikkei ended Wednesday’s session with an impressive 4% gain. Elsewhere, Oil closed lower by 1.25% while the continued weakness of the Dollar saw Gold end Tuesday’s session with a gain of 1%.
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For anyone following my Platinum Service it made 350 points yesterday and is now ahead by 3235 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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