On 24/11/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.
After a volatile trading session which saw plenty of two-way price action, U.S. Equity Markets finished yesterday mixed. While the Dow closed higher by 0.54%, the NASDAQ 100 finished the session with a loss of 0.45%. President Joe Biden announced that the U.S. would release 50 million barrels from its Strategic Petroleum Reserve in a coordinated move with several other countries to lower oil prices. Atlanta Fed President Raphael Bostic said that the central bank may need to accelerate the pace of its asset purchase tapering programme. He said that he could see the taper being complete at some point in the first quarter of 2022, instead of the current timeline of finishing the taper at the end of the second quarter. This echoed last week’s comments from Fed Vice Chair Richard Clarida and Fed Governor Christopher Waller, continuing the central bank’s recent hawkish commentary. In terms of economic data, IHS Markit Manufacturing PMI came in above estimates with strength in new orders. But Services PMI fell more than expected, as input prices hit a six-month high. Within the S&P 500, eight of the 11 sectors finished higher. European Markets closed lower. Markit Euro-Zone’s preliminary composite purchasing managers’ index (“PMI”) data for November was stronger than expected due to increased Manufacturing and Services activity. Organisation of the Petroleum Exporting Countries (“OPEC”) delegates said it may be forced to reduce output increases next week in response to planned petroleum reserve releases. German Health Minister Jens Spahn said lockdowns and mandatory vaccines were on the table as the country looks to combat rising COVID infections. In Asia, The People’s Bank of China’s Zou Lan said it will encourage financial institutions to lend more to small and medium-sized enterprises, manufacturers, and energy producers. The Bank of Korea’s consumer confidence data for November rose from October, as individuals were increasingly optimistic about employment opportunities and spending plans. Taiwan’s export order value numbers for October declined versus November, as shipments to the U.S. and China slid. Japanese markets were closed for the Labour Thanksgiving Day Holiday. Elsewhere, Oil rose 2.63% as uncertainty of how governments would add supply to the market was removed, bringing back buyers, while Gold fell 0.82%, closing below $1800.
To mark my 2425th 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 lost 200 points yesterday, and is now ahead by 1253 points for November, after ending October with a gain of 1028 points, 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, 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
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