U.S. Equity Markets pulled back on a relatively quiet day, to closed mixed as the Dow led the decline with a loss of 0.76% while the NASDAQ 100 closed at a new record high with a gain of 0.15%. Markets chopped around on little news. There was still concern over last week’s jobs report, which showed that fewer jobs than expected had been added to the economy. But many on Wall Street say that this will not change the Federal Reserve’s stance on tapering asset purchases. Goldman Sachs garnered some headlines, after strategists at the investment bank lowered their U.S. economic growth outlook for the year, citing the impact of the COVID-19 Delta variant. Like in Europe, investors are looking ahead to the rest of the week, when we get inflation data. That release will be closely watched, as inflation is the other part of the Fed’s mandate (along with the labour market). European Markets closed lower. Euro-Zone Final Second-Quarter Gross Domestic Product data increased 14.3% on an annualised basis, rising versus the initial reading, due to increased consumer spending. German Industrial Production figures for July were stronger than anticipated, rising versus June, due to a rebound in construction and factory output. But all eyes are looking ahead to later in the week. The European Central Bank will announce its latest monetary policy update Thursday, with investors awaiting any clues on the pace and duration of sovereign bond purchases. In Asia, China’s export numbers for August beat expectations, rising versus July, as shipments to the U.S. and Europe hit one of the highest levels this year. Japanese Prime Minister candidate Fumio Kishida called for more than $270 billion in stimulus spending, on the heels of Yoshihide Suga’s surprise resignation announcement. People’s Bank of China Deputy Governor Chen Yulu said it will improve oversight of its financial technology regulation as well as foreign exchange markets. South Korea’s military successfully tested a ballistic missile launch from a submarine, with a range of around 310 miles, ahead of a visit by China’s foreign minister. Elsewhere, Oil fell 1.30% on demand worries, while Bitcoin got slammed for 15%, before rebounding to close 7.25% lower on reports that El Salvador’s rollout of bitcoin as legal tender was bumpy.
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 email@example.com for details
For anyone following my Platinum Service it made 108 points yesterday and is now ahead by 483 points for September, having closed August with a gain of 1543 points, and 996 points in July. 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