U.S. Equity Markets whipsawed, the US Dollar fell and Treasuries rallied as investors assessed the Federal Reserve’s views on the economy. In a very volatile session, the S&P 500 closed lower as Chairman Jerome Powell suggested the pandemic could inflict longer-lasting damage on the economy even as the Fed signalled it would keep Interest Rates near zero possibly for years to come. The central bank also said it will at least maintain the current rate of bond purchases. Treasury 10-year yields sank to as low as 0.72%, while the Dollar extended its June slide to 2.5%. The Nasdaq 100 climbed to a record high as Tesla Inc. topped $1,000. U.S. Equities have rallied more than 40% from their March lows as central-bank asset purchases and unprecedented stimulus sparked demand for risk assets. Earlier Wednesday, Treasury Secretary Steve Mnuchin said that the U.S. “definitely” needs additional fiscal stimulus. Stocks may be the ultimate beneficiary of trillions of dollars in economic stimulus from the Fed, according to Savita Subramanian, Bank of America Corp.’s chief U.S. equity strategist. “Liquidity looking for a home” is bolstering the FANG stocks — Facebook Inc., Amazon.com Inc., Netflix Inc. and Google’s owner, Alphabet Inc. — along with their technology-driven peers, she wrote in a report this week. The danger, though, is that any complication in the economic recovery could see market gains swiftly reverse — at a time when there is less room for additional support. The pandemic is splintering the world economy, and policy makers cannot risk a premature withdrawal of lifelines to businesses and the most vulnerable people, the Organisation for Economic Co-operation and Development warned. Overnight, U.S. and European stock Futures slumped along with Asian shares after the Federal Reserve painted a long slog ahead for the economic recovery and after data showing a rise in infection rates in some U.S. states. Futures on the S&P 500 dropped more than 1% and European contracts were down over 2%. Treasuries consolidated gains made in the wake of the Fed decision, which featured fresh projections including an outlook for no interest-rate hikes through 2022. The US Dollar rebounded from Wednesday losses. Crude oil tumbled. Coronavirus cases have now surpassed 2 million in the U.S., and Texas saw the biggest jump yet.

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 99 points yesterday and is now ahead by 849 points for June, having made 2456 points in May, 4773 points in April, an incredible 9264 points in March, 2223 points in February, 2142 points in January and 818 points in December. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

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