U.S. Equity Markets fell from their highs to start the week, with all three main Indexes closing in the red. There were not many drivers, though there was some focus on overly bullish sentiment from retail investors. Elsewhere, President Joe Biden is scheduled to meet with a bipartisan group of lawmakers at the White House overnight to pitch the merits of his $2.3 trillion infrastructure plan. This comes following reports that Democrats would accept a 25% corporate tax rate to fund the Bill (down from the initial 28% tax rate). In vaccine news, National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci said he expects a decision from health officials on Johnson & Johnson’s coronavirus vaccine by Friday. And a report from the Wall Street Journal suggested that the vaccine could be re-approved for people over 50. European Markets closed mixed. Investors await the European Central Bank’s latest policy update on Thursday, where President Christine Lagarde is expected to say it is too soon to withdraw economic support. Iran and the U.S. were said to be moving closer to an agreement on reviving the 2015 nuclear accord, potentially allowing more oil supply to enter international markets. The Italian government was said to be looking at ways to produce mRNA COVID-19 vaccines in the country to bolster its own supply. European Union coronavirus vaccinations rose to 110.7 million through yesterday, with a daily average of 2.4 million doses administered over the last week. The governments of Japan and the U.S. issued a joint statement expressing concerns about recent actions from China they see as inconsistent with international law. Japan’s export and import data for March were stronger than expected, rising by double digits for the first time since 2017, signalling the global economy continues to rebound. Japan’s Final Industrial Production data for February rose versus the initial reading, indicating economic activity there is accelerating. Taiwan’s central bank governor Yang Chin-long said it may increase its 2021 economic growth estimate from 3.68% to 4.53% due to rising demand for technology products. Elsewhere, Gold closed 0.56% lower despite a much weaker Dollar and profit-taking after rising last week, while Bitcoin rebounded from weekend weakness to close 10% lower.
To mark my 2300th 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 45 points yesterday and is now ahead by 233 points for April, having ended March with an impressive gain of 3769 points, having made 3286 points in February, 2077 points in January, 2273 points in December, 2025 points in November, 2779 points in October, 3042 points in September and 2383 points in August. 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