U.S. Equity Markets continued their winning streak, finishing yesterday’s session higher, led by the Russell 2000 which closed with a 1.02% gain. Markets continued to rise after the U.S. Food and Drug Administration’s decision to fully approve Pfizer and BioNTech’s (BNTX) COVID-19 vaccine. This opened up the potential for increased domestic vaccinations. On infrastructure, a report from the Washington Post suggested that the House of Representatives could approve the bill within the next month. Economic data was mixed, as New Home Sales rose above estimates but the Federal Reserve Bank of Richmond’s Activity Index matched the lowest level since June 2020. Investment banks continued to get more bullish on the market, with analysts at Wells Fargo (WFC) raising their price target on the S&P 500 to the highest on Wall Street. The analysts said fiscal stimulus and relative valuation were the two reasons to be bullish for the rest of 2021. European Markets closed mixed. Germany’s Second-Quarter Final Gross Domestic Product data was stronger than expected, rising versus the preliminary result, on increased consumer spending. German Chancellor Angela Merkel, during an event in Düsseldorf, said the government is aiming for no new coronavirus restrictions this year, but it must remain vigilant. The Confederation of British Industry said Retail Sales surged 60% so far in 2021, marking the fastest growth since December 2014. In Asia, The People’s Bank of China said it would increase the supply of credit and available capital to small businesses in an effort to support the economic growth outlook. Japan’s growth sentiment improved on hopes of increasing inoculations, after Pfizer’s (PFE) COVID-19 vaccine received full regulatory approval in the U.S. The Bank of Korea’s Consumer Confidence figures for August fell versus July, as households were less optimistic about the employment situation and the domestic economy. Taiwan’s Industrial Production numbers for July were weaker than expected, falling versus June, as electronic-parts and medical-products activity slowed. Elsewhere, Oil rose 2.89% as it continued to rally on little news, while Bitcoin declined 2% after hitting $50,000 on Monday.
To mark my 2375th 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 30 points yesterday and is now ahead by 1222 points for August, having closed July with a gain of 996 points. The Platinum Service made 1366 points in June, 1439 points in May, 1244 points in April, having ended March with an impressive gain of 3769 points, 3286 points in February, 2077 points in January, and 2273 points last December. 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