U.S. Equity Markets surged the most in almost six weeks after promising early results for an experimental vaccine sparked speculation economies could snap back quickly. Crude oil advanced and yields on Treasuries rose. The S&P 500 surged 3.2% after Moderna Inc. said its vaccine tests yielded signs it can create an immune-system response in the body. Companies that would benefit from a return toward more normal economic activity rallied. Carnival Corp. jumped 15%, while Delta Air Lines and Live Nation Entertainment climbed more than 13%. Energy producers popped 7.5% and real-estate firms added almost 5%. The risk-on rally comes as more economies around the world and within the U.S. ease restrictions that created one of the steepest downturns since the Depression. Federal Reserve Chairman Jerome Powell stressed the central bank has more ammunition to combat weakness. The Stoxx Europe 600 jumped the most since March, while indexes in Japan, Hong Kong and South Korea all posted modest advances. Gold traded at its highest price in seven years before retreating, while West Texas oil rose above $30 a barrel for the first time in two months as producers in the U.S. and elsewhere continued to cut activity. While Powell said the U.S. economy’s recovery could stretch to the end of 2021, he added that policy makers are “not out of ammunition by a long shot.” Several European countries ended bans on short selling, as they continued to report the lowest number of daily deaths from the virus since March. German Chancellor Angela Merkel and French President Emmanuel Macron agreed to support a 500 billion-euro ($546 billion) aid package to help the European Union recover from the Coronavirus pandemic in a major step toward tighter integration. Following a videoconference between the two leaders, Merkel said that Germany would accept a fund within the framework of the EU budget, financed by additional borrowing, that would make grants to Member States that have been hardest hit by the virus. Crucially, she said the bonds issued by the European Commission would be repaid from the EU budget, the lion’s share of which is covered by Germany. Italian bonds jumped. “The EU must act together, the nation state has no chance if it acts on its own,” the chancellor said in a joint online press conference with Macron. “This is the biggest challenge in the history of the EU.” The proposal marks a significant step in efforts to shore up the European project and a potential win for Macron, who has been calling for Germany and the richer northern states to do more to help those in the South who’ve suffered most. The sums involved would dwarf the commission’s existing debt issuance, a sign of Merkel’s determination to keep the EU together. ECB President Christine Lagarde praised the proposal as “ambitious, targeted and, of course, welcome” in an interview with multiple newspapers published on the central bank’s website. “They pave the way for the European Commission to borrow funds over the long term and, above all, they allow a substantial amount of direct support to be provided to the countries most affected by the crisis,” she said. “This is testament to the spirit of solidarity and responsibility.”

To mark my 2075th 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 215 points yesterday and is now ahead by 824 points for May, having made 4773 points in April, an incredible 9264 points in March, 2223 points in February, 2142 points in January, 818 points in December, 780 points in November, 1649 points in October, 1620 points in September and 2387 points in August Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

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