U.S. Equity Markets bounced around as investors digested more vaccine headlines before selling off into the close in what turned out to be a volatile trading session. Both the S&P and Dow led the decline, closing lower by 1.16%. Markets initially rallied after we got more positive vaccine news out of Pfizer and BioNTech. Pfizer said final data from its 19 late-stage COVID- vaccine trials had reached a safety milestone with 95% efficacy and it was now preparing to seek an emergency use authorisation. This was above the 90% effectiveness Pfizer reported from early analysis last week. In terms of Economic data, both Housing Starts and Building Permits came in above estimates. This is the latest sign that homebuilders are expecting continued high demand for homes. On the stimulus front, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer called on Senate Republicans to restart negotiations on a fifth Coronavirus support package. New York became the latest state to threaten COVID restrictions, after governor Andrew Cuomo warned that the State could soon shut down indoor dining in gyms. Meanwhile European Indices closed higher. AstraZeneca’s Chief Financial Officer said results from final-stage Coronavirus vaccine trials in the U.K., Brazil, and South Africa should be available within weeks. Bank of England Chief Economist Andy Haldane said the British economy surpassed expectations in the Third Quarter, but remains below pre-pandemic levels. French Prime Minister Jean Castex said the country will maintain Coronavirus-related restrictions once the current lockdown is over in order to better contain the spread. European Union new car registration data for October weakened versus September, showing contraction, and implying economic growth was slowing. Elsewhere, Oil closed 0.65% higher on reports that OPEC was set to extend its production cuts into 2021 to combat rising crude inventories, while Gold fell 0.84% on little news.

To mark my 2200th 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 lost 18 points yesterday and is now ahead by 1454 points for November having made 2779 points in October, 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

This content is for Free Members or higher.

Already Have an Account? Log In

New to TraderNoble? Register