U.S. Equity Markets were firmer to start the week (SPX +1.2%, NDX +1.3%, DJIA +1.2%, RUT +1.1%) in light newsflow amid a lack of tier 1 US data and Fed blackout ahead of the meeting next Wednesday. As such, all sectors, aside from Communication Services, saw gains with Financials, Industrials, and Consumer Discretionary sitting atop of the pile with the latter two buoyed by Boeing (BA) (+3.4%) and Tesla (TSLA) (+2.6%), respectively. In terms of stock specifics, Citi (C) sees Q3 market revenue -4% Y/Y and net interest income guidance looks modestly down Y/Y. On Apple’s (AAPL) Glow time Event, the tech giant announced the new iPhone 16 with Apple Intelligence, alongside a new Watch and AirPods. The Dollar was firmer to start the week to the detriment of most G10 FX peers, albeit in thin newsflow, with participants awaiting the US Presidential Debate on Tuesday and US CPI tomorrow, whereby the latter will likely be pivotal ahead of the FOMC meeting, given the magnitude of the cut is still a toss-up, albeit with most favouring a smaller 25bps cut. T-Notes see mixed price action in light trade, with the longer-end bid ahead of 3-, 10-, and 30-Year auctions later this week. Lastly, the crude complex was firmer to start the week, attempting to claw back some of its recent heavy selling, amid concerns Tropical Storm Francine could disrupt production and refining along the US Gulf Coast. Meanwhile the New York Fed SGE was released. Consumer inflation expectations for the 1yr and 5yr remained unchanged at 3% and 2.8%, respectively, but the 3yr rose to 2.5% (prev. 2.3%). The release saw credit delinquency expectations rise and households more upbeat on credit access. For home prices, the median expected rise ticked higher to 3.1% (prev. 3%), The survey also unveiled mixed labour market expectations, with the median one year ahead expected earnings growth rising to 2.9% (prev. 2.7%), while the mean probability that the US unemployment rate will be higher one year from now increased to 37.7% (prev. 36.6%), albeit, the mean perceived likelihood of losing one’s job in the next twelve months fell to 13.3% (prev. 14.3%), while and employment trends for August rose to 109.04, from the revised lower, 108.71.
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For anyone following my Platinum Service it made 210 points yesterday and is now ahead by 1227 points for September having ended August with a loss of 301 points after closing July with a gain of 1918 points while June closed with a gain of 2074 points, having made 1843 points in May. The Platinum Service made 4010 points in April after ending March with a gain of 2113 points. February closed with a gain of 1606 points, after closing January with a gain of 3675 points. December saw a gain of 1890 points after finishing November with a gain of 1734 points. October ended with a gain of 3184 after closing September with a small gain of 228 points, after finishing August with a gain of 1485 points, following a small gain of 285 points gain in July, after closing June with a gain of 2683 points. May closed with a gain of 3205 points. April saw a gain of 3354 points while March closed with a gain of 6168 points. The Platinum Service made a record 9619 points last October. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1900 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
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