U.S. Equity Markets built on Monday’s late reversal, finished the day higher, led by the 0.48% rally in the S&P. This move higher saw the VIX get slammed, closing 10% lower, below the key 30 level. Data published by the U.S. Bureau of Labour Statistics showed the number of job openings in the U.S. totalled 11.5 million at the end of March. That is higher than February’s figure of 11.3 million, indicating the labour market continues to remain out of balance. Even though job figures have rebounded by nearly 93% since the worst of COVID-19, millions of workers are either refraining from finding a job or are quitting for new prospects amid a record number of openings. As this continues, it could further pressure businesses to raise wages to retain their workers – resulting in higher costs and increased prices to offset the hit. In turn, this could support more aggressive interest-rate hikes by the Federal Reserve to rein in higher prices and broader inflation. Within the S&P 500, nine of the 11 sectors finished higher. European Markets closed mixed. Russia avoided a default for the first time since 1918 by making Dollar payments on $650 million worth of bonds due in 2022 and 2042. German Economy Minister Robert Habeck said the proposal to end reliance on Russian energy supplies means the era of cheap prices is over, implying sustainably higher inflation. European Union members are reportedly considering a complete phase-out of Russian oil products by the end of 2022. The Euro-Zone’s Producer Price Index for March showed growth that was higher than anticipated due to rising energy costs. In Asia, China’s National Health Commission reported new mainland COVID-19 cases continued to ease, remaining below the 10,000 as most of the infections remain in Shanghai. Japanese Prime Minister Fumio Kishida said he signed an agreement with Thailand to exchange military equipment and technology, potentially stoking Chinese political tensions. South Korea’s Consumer Price Index growth for April was greater than expected, hitting its highest level since 2008 and supporting additional interest-rate hikes. Elsewhere, Oil closed 2.29% lower as Chinese lockdowns weigh on supply chains, while Gold rose 0.17% as inflation risks are anticipated to provide a temporary boost to the precious metal.
To mark my 2525th 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 275 points yesterday and is now ahead by 275 points for May having made 762 points in April, following a gain of 5883 points in March. The Platinum Service made an impressive 5324 points in February, after ending January with a gain of 3878 points, more than making up for December’s 932 points loss, having made 2466 points in November, 1028 points in October, 2866 points in September, 1543 points in August, and 996 points in July. The Platinum Service made 1366 points in June, 1439 points in May, 1244 points in April, after ending March with an impressive gain of 3769 points. 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