U.S. Equity Markets got crushed yesterday led by the 4% fall in the NASDAQ 100 after the Swiss National Bank announced a surprise 50 basis point rate hike while exiting some of its large holdings of American Equities. The U.S. Department of Labour reported that another 229,000 individuals filed Initial Jobless Claims in the week ending June 4. This figure was lower than last week’s upwardly revised 232,000 and Wall Street’s estimated 217,000. This could indicate that while job openings remain near record highs, hiring could be starting to slow – potentially resulting in a broader deceleration in economic activity. And if this trend were to continue, it could help to reduce wage-driven inflationary pressures. But if Jobless Claims remain below 2019’s average, it may signal further supply-and-demand imbalances in the labour market. Within the S&P 500, all 11 sectors finished lower. European Markets closed lower. The European Central Bank said it will introduce new monetary-policy tools to help stabilise rising sovereign bond yields. Italy’s final Consumer Price Index data for May was in line with the initial reading, driven by energy, transportation, and food costs. Euro-Zone’s first-quarter labour-cost growth rose compared with the fourth quarter, hitting its highest level since early 2020. The Bank of England raised its interest rates by 0.25% while lowering its economic growth outlook, saying it’s increasingly worried about the pace of inflation expansion. In Asia, The Melbourne Institute’s Index of Consumer Inflation expectations hit its highest level since 2008 as individuals worry wage gains won’t keep up with rising costs. Japanese Prime Minister Fumio Kishida said the government will continue with its wage and investment support while endorsing the Bank of Japan’s policy efforts to stoke inflation. The Chinese National Bureau of Statistics’ new home-price data for May showed costs fell at a slower rate than in April, following a rebound in Guangzhou and Shenzhen. The Japanese Ministry of Finance’s import-growth figures for May hit their highest level on record, as a weaker yen boosted the cost of oil and coal shipments. Elsewhere, Oil rose 1.5% on continued market volatility while Gold gained 1.16% on further Dollar weakness.

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 292 points yesterday and is now ahead by 2886 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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