Both the S&P and NASDAQ 100 made new all-time highs on optimism around the timeline for a Coronavirus vaccine. National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci said a Coronavirus vaccine could be available earlier than expected if clinical trials prove to be overwhelmingly positive. This follows similar comments from the head of the FDA earlier this week, who said the administration could approve a vaccine before it was finished trials if the rewards outweigh the risks. In terms of economic data, ADP Employment Change data fell short of estimates, but continued a trend of increased hiring. Federal Reserve Bank of New York President John Williams said that Interest Rates will remain low for a long time. And Cleveland Fed President Loretta Mester said the Second Quarter was the trough for the economy and that economic activity would continue to rebound throughout the second half of the year. The Dow led the charge closing with a gain of 455 points at 29,100. European Indices got support following comments from European Central Bank Chief Economist Phillip Lane who said the Euro-Dollar exchange rate does matter, potentially signalling action from the central bank to weaken the currency. That would make European exports more attractive, boosting the growth picture. German Retail Sales unexpectedly fell in July, indicating that the country’s economic recovery will be uneven. Italy’s Economic Minister said the country’s Gross Domestic Product will fall by more than 8% in 2020, but “not much more” than that. Most European Indices ended the day with gains close to 2%. Elsewhere, Oil fell almost 3% on fears the rebound in fuel demand was stalling while Gold decline 1.5% on Dollar strength.

To mark my 2125th 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 153 points yesterday and is now down 181 points for September, having made 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

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