U.S Equity Markets built on Wednesday’s gains by closing higher across the board in what turned out to be a quiet trading session. Jobless Claims rose from the prior week, coming in above estimates. While this indicates that the job market’s recovery may be stalling, the four-week average for Jobless Claims fell again.  Continuing Claims, which represent those that have filed for Unemployment for at least two weeks, fell again and beat estimates. This is a positive sign for the job market. Stimulus news was mixed, after House Speaker Nancy Pelosi said she would not support a bill for airlines without a full deal. She added that the economy needs a large package, and not the “skinny” $1.6 trillion bill proposed by Republicans. But Treasury Secretary Steven Mnuchin is reportedly considering restarting talks on a broader package. Market expectations for a Joe Biden win in November continued to grow. This is sparking optimism over a large Stimulus Bill being passed at the beginning of next year. The Russel 2000 led yesterday’s gains, closing 1.09% higher while the S&P finished with a gain of 0.8%. Meanwhile European Equities rallied despite the increase in Coronavirus cases across the EU. European Central Bank President Christine Lagarde pledged not to remove stimulus from the European economy prematurely. Bank of England Governor Andrew Bailey said that the central bank is not yet out of tools to support the economy. But it was not all good news. Daily coronavirus infections continued to rise as France reported a record number of new cases and Italy saw its highest total since April. And the Belgian city of Brussels issued a “code red” lockdown of all bars and cafes for at least a month. Elsewhere, Oil closed 3.28% higher as Saudi Aramco disputed reports that we’re close to “peak” oil demand, while Gold rose 0.37% on Dollar weakness.

To mark my 2150th issue of TraderNoble Daily 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 10 points yesterday and is now ahead by 896 points for October, having made 3042 points in September, 2383 points in August, 3128 points in July, 2580 points in June, 2456 points in May, 4773 points in April, an incredible 9264 points in March, 2223 points in February and 2142 points in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

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