U.S. stocks fell Wednesday as trade tensions simmered, with the White House said to be preparing to blacklist more Chinese technology companies. The US Dollar and Treasuries held their ground after the release of meeting minutes from the Federal Reserve, which stressed a patient approach to interest-rate changes. The S&P 500 Index fell for the third session in four, with tech shares under pressure amid the latest developments in the trade war with China. Markets continue to run hot and cold as investors react to the near-daily salvos in the conflict, trying to size up how much damage they will bring to growth and supply chains. The Fed minutes put a damper on prospects for lower rates this year, weighing slightly on equity markets as Fed Funds Futures showed a slight drop in the odds for a rate cut. Just before the close it was announced that a Federal Judge in New York rejected President Donald Trump’s request to keep his banks from producing financial records to lawmakers. U.S. District Judge Edgardo Ramos, ruling from the bench yesterday, said that while the president, his family and his business would suffer irreparable harm from disclosure of the records, they were “unlikely to succeed on the merits” with their argument that the congressional subpoenas are improper. Ramos, reading his 25-page opinion in a New York courtroom, said he wouldn’t grant Trump’s request for a preliminary injunction.
To mark my 1825th 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@tradernoblecom for details
For anyone following my Platinum Service it was flat yesterday and is still ahead by 1566 points for May, having made 955 points in April, 1027 points in March, 1013 points in February, 1671 points in January, 2803 points in December, 1541 points in November and 2094 points in October. 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