U.S. Equity Markets got slammed yesterday as the sell-off accelerated in the last two hours of trading. The NASDAQ 100 led the declines with a loss of 2.75% while the VIX exploded to the upside with a gain of 9%. It was an ugly session all round. The U.S. Department of Labour said another 229,000 individuals filed Initial Jobless Claims in the week ending June 4. This figure was greater than the week prior’s upwardly revised number of 202,000 and Wall Street’s projected 206,000. Prior to the release, the U.S. Bureau of Labour Statistics’ Job Openings and Labour Turnover Survey set a record high, highlighting tightness in the labour market. However, yesterday’s data could suggest a shift in activity. If Jobless Claims continue to rise and job openings begin to decline, it may indicate a slowdown in economic growth. In this instance, it would help reduce inflationary pressures, as wage gains and a tight labour market remain a major roadblock to the U.S. Federal Reserve’s efforts to rein in inflation. Within the S&P 500, all 11 sectors finished lower. European Markets closed lower. European Union lawmakers voted in favour of halting the production of new gasoline- or diesel-powered cars starting in 2035. Negotiations between Russia and Turkey to establish a designated sea passage for the export of grains from Ukraine ended without a resolution. The French National Institute of Statistics and Economic Studies Office’s First-Quarter Payroll growth was in line with expectations, driven by continued strength in services-related hiring. The European Central Bank left Interest Rates unchanged but did signal a 25 Basis Points rise in July, followed by a 50 Basis Points rise in September. At the same time it ended its Bond Buying Programme, leading to a 200 point fall in the German Bund. In Asia, Taiwan’s export growth for May was weaker than expected as shipments to China and Europe slowed. Chinese Ministry of Commerce official Li Xingqian said the government will do everything it can to help exporters obtain more orders and boost economic growth. Japanese Defense Minister Nobuo Kishi will meet with Chinese National Defense Minister Wei Fenghe this weekend to discuss naval activity in the waters off Japan. Shanghai’s government said it would place a district in the southwestern part of the city under restrictions for mass COVID-19 testing, starting Saturday. Elsewhere, Oil fell 0.75% on market volatility while Gold fell 0.27% after the Dollar rallied.

To mark my 2550th issue of TraderNoble Daiy 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 530 points yesterday and is now ahead by 1681 points for June after making 3651 points in May, having made 762 points in April, following a gain of 5883 points in March. The Platinum Service made an impressive 5324 points in February, after ending January with a gain of 3878 points, more than making up for December’s 932 points loss. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 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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