On 12/08/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.
U.S. Equity Markets bounced around as investors digested inflation data, before closing mixed as the Dow closed at a new all-time high with a gain of 0.62% while the NASDAQ 100 closed lower by 0.17%. Inflation data was the big story of the day. According to the Bureau of Labour Statistics, CPI – which measures price increases for a basket of goods – rose 4.3% in July when excluding volatile products like energy and food. That was in line with Wall Street’s estimate. That is well above the Federal Reserve’s target of 2%. But, more importantly, it came in below June’s reading of 4.5%. If inflation does begin to trend lower as we head into November, it could indicate that inflation is beginning to return to normal levels, around 2%. Federal Reserve speakers were also in focus. Chicago Federal Reserve President Charles Evans said that he would like to see a few more months of jobs data before the central bank begins to taper its asset purchases. This was followed by Dallas Fed President Robert Kaplan, who said that he supports a tapering announcement in September, before beginning the actual tapering in October. European Markets again closed higher The British government said that more than 75% of its population had received two doses of a COVID-19 vaccine, and 89% had received at least one dose, helping the prospects for reopening the economy. German CPI came in at 3.1% for July, matching estimates, driven primarily by higher energy prices and easy comparison to last year’s period. London’s Heathrow Airport saw 1.5 million travellers in July, a 70% jump from the same month in 2020, as the U.K. loosened its travel restrictions from other countries. In Asia, Japanese holding company SoftBank said it would hold off on investing in Chinese technology companies until it gets a clearer picture of the regulatory landscape. South Korea’s unemployment rate unexpectedly fell in July, as government support helped lower the pace of layoffs. South Korean exports surged in the first 10 days of August, driven by heavy demand for semiconductors. Australian consumer confidence fell, but not as much as expected, as the country continues to implement new COVID-19 restrictions. Elsewhere, Oil closed 1.46% higher after the White House said it was not calling for U.S. companies to hike output and flood the market with supply, while Gold rose 1.27% on Dollar weakness.
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 protected] for details
For anyone following my Platinum Service it made 50 points yesterday and is now ahead by 539 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
Your Platinum Subscription intraday updates will appear here once they are published.