Better than expected earnings from JP Morgan helped the Dow to rally and finally close above its 200 Day Moving Average in what turned out to be an extremely choppy trading session. CEO Jamie Diamond said that the bank ended the Quarter with significant earnings power. JPM reported Q2 revenue of $33.8 billion, up $4.3 billion year-on-year, while smashing expectations of $30.3 billion expected as a result of trading and IBanking Revenue. Positive comments on spending also boosted the Dow late on with House Speaker Nancy Pelosi saying she was in favour of delaying Congress’s August recess in order to push through another stimulus package. The Dow closed 2.14% higher. Optimism also grew over Coronavirus vaccines with Moderna filing to start the Phase 111 trial for COVID-19  Vaccine later this month. The S&P closed the day with a gain of 1.3% after swinging for most of the session between gains and losses before a late surge into the close. Elsewhere, the UK’S 2-year bonds yielded less than Japanese debt for the first time. Treasuries and the US Dollar ended flat while Crude closed 0.45% higher after OPEC published a record jump in crude demand in 2021.

To mark my 2100th 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 made 309 points yesterday and is now ahead by 2147 points for July, having made 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

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