Equity Markets finished the week with strong gains as investors embraced risk in spite of the biggest monthly loss in jobs in more than 70 years. Yields on Treasuries rose and the US Dollar weakened. Shares of energy, industrial and consumer staples companies helped the S&P 500 register its first weekly gain in three. The tech-heavy Nasdaq climbed for a fifth day, bringing this week’s gain to 6%. The latest jobs report showed a cut of 20.5 million workers in April, propelling the Jobless Rate to 14.7%. While that was the highest since the Great Depression, investors were anticipating the damage and speculating it will mark a low point during the pandemic-fuelled economic slump. Meanwhile, Oil posted its first back-to-back weekly gain since February as output cuts from the biggest producers and a nascent recovery in demand began to rebalance a market awash with crude. Stocks remained higher even after President Donald Trump cast doubt on the future of his “phase one” trade deal with China, saying Friday that he is struggling with Beijing in the wake of the Coronavirus pandemic. Building and travel stocks pulled the Euro Stoxx Index higher while U.K. markets were closed for a holiday. Japanese Equities led a surge across Asia. Italian bonds climbed before a sovereign ratings decision. Equities have so far managed to weather miserable economic data as well as a string of poor earnings reports as investors bet on a swift recovery, but the strong rebound in risk assets has left others questioning whether further gains are warranted. Elsewhere, Gold declined. Bitcoin briefly rose above $10,000 for the first time since late February, before getting hammered over the weekend to trade at $8700 this morning.

To mark my 2050th 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 225 points on Friday and is now ahead by 895 points for May, having made 4773 points in April, an incredible 9264 points in March, 2223 points in February, 2142 points in January, 818 points in December, 780 points in November, 1649 points in October, 1620 points in September and 2387 points in August Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

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