U.S. Equity Markets finished Thursday lower led by the 0.31% fall in the S&P 500 after a volatile session. Markets finished lower as hawkish “Fedspeak” dominated headlines Thursday. St. Louis Federal Reserve President James Bullard said interest rates “will need to be increased further” to become “sufficiently restrictive” in taming inflation. However, the runway for further rate hikes appears to be facing more resistance as additional weak economic data points continue to show a deteriorating economic climate – October Housing Starts were down from the month prior, and the Philadelphia Fed Manufacturing Index had a much weaker reading than expected. Also, Cisco Systems (CSCO) became the latest tech giant to announce layoffs this Quarter. Within the S&P 500 Index, eight of the 11 sectors finished lower. European Markets closed lower. Markets ended lower after struggling to maintain gains earlier in the day. Falling rate expectations out of the U.S. continue to fluctuate investor sentiment in Europe. Meanwhile, European Central Bank and Bank of England Officials continue to assert aggressive rate-hike intentions as the region battles record inflation. U.K. fiscal policy was the primary catalyst, with Chancellor Jeremy Hunt affirming expectations of tax hikes and limited government spending as the office attempts to calm markets. Elsewhere, the European Union is expected to announce a gas price cap following its November 24 meeting. And the International Monetary Fund chief warned that the “single most important negative factor” for regional and global economic outlook is the ongoing war in Ukraine. In Asia, Markets ended largely lower after semiconductor stocks dragged on IT. But a reiteration of China’s commitment to “more decisive” COVID-19 prevention gave Chinese stocks a lift late on. China’s bond markets continue to be under pressure as the 10-year yield hit its highest level since December 2021. Bloomberg reported that regulators have requested banks provide proof of meeting short-term debt obligations. Central banks in Indonesia and the Philippines increased their Base Rates to combat inflation. Finally, Australia showed a surprise drop in the Unemployment Rate to a near-50-year low. Elsewhere, Oil closed a huge 4.29% lower while Gold fell 0.70% after a volatile session.

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For anyone following my Platinum Service it has made 467 points yesterday and is now ahead by 3426 points for November, after finishing October with a record gain of 9619 points, making 6660 points in September, after closing August with a gain of 2228 points, having made 2660 points in July, following a gain of 3371 points in June. The Service made 3651 points in May, after making 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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