U.S. Equity Markets finished yesterday higher after another volatile trading session that saw plenty of two-way price action. Lower Bond yields saw a late rally with the NASDAQ 100 leading the market higher with a gain of 1.47%. The U.S. Department of Labour reported that another 229,000 individuals filed Initial Jobless Claims in the week ending June 18. This figure was lower than the prior week’s upwardly revised 231,000 and Wall Street’s forecast of 226,000. As the U.S. has seen since mid-March, Unemployment Claims have gradually trended higher. So, while the U.S. Bureau of Labour Statistics’ Job Openings and Labour Turnover Survey for April previously showed tightness in the labour market, its July release could fall more in line with jobless-claims data. If this were to happen, it would signal a slowdown in economic momentum as the U.S. Federal Reserve explores large interest rate hikes to rein in decades-high inflation. In turn, it could reduce inflationary pressures by better controlling wage gains, which could potentially reduce some pessimism within the market. Within the S&P 500, seven of the 11 sectors finished higher. European Markets closed lower. S&P Global’s preliminary Euro-Zone composite PMI data for June was weaker than anticipated as Manufacturing Output contracted. The European Central Bank is expected to raise interest rates to 0.75% by the end of this year as it’s forced to combat inflation, according to a Reuters poll of economists. German Federal Chancellery Secretary Jorg Kukies said the government in Berlin is open to the idea of imposing an international price cap on Russian oil to boost supply. German Finance Minister Christian Lindner said the country is already in an economic crisis and rising bond yields should cause countries to reconsider rising debt loads. In Asia, Chinese President Xi Jinping said the government will strengthen and adopt more policy measures to support domestic consumption and meet its 5.5% growth target for the year. Jibun Bank’s preliminary Japanese composite PMI figures for June rose compared to May as services-sector activity rebounded. Bank of Korea Deputy Governor Lee Seung-Heon said there’s a risk of prolonged inflation, requiring pre-emptive central-bank policy tightening. S&P Global’s preliminary Australian composite purchasing managers’ index (“PMI”) data for June eased compared to May as new orders and employment fell. Elsewhere, Oi fell 2% on little news while Gold fell 0.73% on Dollar strength.

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For anyone following my Platinum Service it made 140 points yesterday and is now ahead by 3611 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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