U.S. Equity Markets jumped with Election Day behind us, finishing the day higher, led by the NASDAQ 100 which closed with a huge 4.41% gain. Growth stocks were back in investors’ good graces. With control of both the House of Representatives and Senate likely unchanged after Tuesday’s election, investors are anticipating a divided Congress will get nothing done in terms of technology company regulation. In addition, they also anticipate tax hikes will be less likely. The election also boosted some mega-trends, with more states legalising recreational cannabis and sports betting. ADP Employment data missed estimates, potentially signalling a slower recovery in the job market. But it is worth noting that ADP data have not told the full story of job recovery in recent months. ISM’s Non-Manufacturing Index missed estimates, while Markit’s services PMI beat expectations. European Markets also closed higher after a volatile trading session. Trade negotiators from the European Union and Britain were said to have made little headway in resolving their differences to complete a post-Brexit trade agreement. Markit Euro-Zone’s Final Composite Purchasing Managers’ Index (“PMI”) data for October were stronger than the initial reading, rising back into expansion territory. The Netherlands extended COVID-19 restrictions, including a ban of public meetings, as the country looks to slow the spread of the virus. The German government has instructed health officials to prepare mass inoculation sites for a Coronavirus vaccine, which is expected in early 2021. Elsewhere, Oil closed 3.4% higher on a surprise drawdown in U.S. Crude Inventories, while fell 0.4% as a split Congress dampened the outlook for another large stimulus package. After the close it was announced that Joe Biden has won Michigan, after a much closer than expected election, looks on course to get the 270 Electoral votes necessary to be the next President.
To mark my 2175th 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 firstname.lastname@example.org for details
For anyone following my Platinum Service it made 580 points yesterday and is now ahead by 847 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