U.S Equity Markets reversed most of Friday’s early sell-off on Coronavirus fears after President Trump announced that he and First Lady Melania Trump had tested positive for COVID-19. After the market closed it was announced that the President would be taken to Hospital for treatment after mixed messages about his health where he was said to have received oxygen after having trouble breathing. This morning the S&P Futures are trading higher after the President took an ill-advised drive in his motorcade before returning to spend his third night in hospital. There were also important economic data out last Friday. Non-Farm Payrolls added fewer jobs that expected, but the Unemployment rate fell by more than estimates. This indicates that the job market continues to recover. Stimulus was also in the headlines, after Democrats passed a $2.2 trillion Stimulus Package. But the Bill was seen to be dead-on-arrival once it reaches the Senate. House Speaker Nancy Pelosi said she is still hopeful that a deal can be reached, while White House Economic Adviser Larry Kudlow said the White House would approve a deal in the range of $1.5 trillion. Euro-Zone inflation data for September were weaker than expected, falling versus August and signalling the need for continued economic support. The European Union and the U.K. are scheduled to wrap up talks on their post-Brexit trading, with few signs of the negotiations making headway. Italy revised its second-quarter gross domestic product lower, indicating that the recession was deeper than previously thought. The British Chamber of Commerce released a survey showing that many businesses are not seeing a V-shaped recovery, signalling that the economic rebound will be slow. Elsewhere, Oil closed 4.44% lower as risk assets got hit while Gold fell 0.5% on Dollar strength.
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 email@example.com for details
For anyone following my Platinum Service it made 315 points on Friday and is now ahead by 401 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
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