U.S. Equity Markets ended the week higher, as traders looked past Trade jitters and weak economic data. Treasuries fell. Oil jumped. The S&P 500 erased losses, but still posted its worst week since March 20 — just before the gauge started a torrid rally. Sorrento Therapeutics soared 158% amid Coronavirus antibody development claims. J.C. Penney surged 21% after saying it made an almost $17 million interest payment due May 7. Earlier Friday, stocks slumped as Retail Sales and Factory Output registered their steepest declines on record. Meanwhile, the U.S. moved to curtail Huawei Technologies’ chip supply, spurring a rout in semiconductor companies. The Federal Reserve issued a stark warning Friday that stock and other asset prices could suffer “significant declines” should the Coronavirus pandemic deepen, with the commercial real estate market being among the hardest-hit industries. Mounting tension between the world’s two largest economies has investors concerned of an even deeper global recession. The cost of the Coronavirus pandemic could reach as much as $8.8 trillion, according to the Asian Development Bank. Overnight, Oil rose above $30 a barrel for the first time in two months as producers in the U.S. and elsewhere continued to cut activity, helping to rebalance a market that was thrown into disarray by Coronavirus lockdowns. Futures in New York climbed around 5% after almost doubling in a run of three weekly advances. The number of drilling rigs in the U.S. fell for a ninth week to levels not seen in more than a decade, while stockpiles at the key storage hub in Cushing, Oklahoma, shrank for the first time since late February. Iraq said it planned to halt output from one of its oil fields due to protests.

To mark my 2075th 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 227 points on Friday and is now ahead by 1039 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

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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