On 25/11/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.
Plenty of two-way price action again in yesterday’s session saw U.S. Equity Markets close higher, led by the NASDAQ 100 which ended the day with a gain of 0.37%. Weekly Jobless Claims fell more than expected, hitting the lowest level since 1969. Personal Consumption Expenditures (“PCE”) for October rose 5% on a year-over-year (“YOY”) basis, below Wall Street’s expectation for 5.1% and above last month’s 4.4% number. The core reading saw a similar result with a 4.1% YOY gain, in line with the expectation and above September’s upwardly revised 3.7%. This is the Federal Reserve’s preferred inflation gauge, and remains well above its 2% target. San Francisco Fed President Mary Daly reiterated recent Fed commentary that the central bank could accelerate the pace of its asset tapering programme. In other economic data, New Homes Sales rose, but missed estimates. Still, sales of newly constructed homes sit at the highest level since April, indicating that housing demand remains strong. Within the S&P 500, six of the 11 sectors finished lower European Markets closed lower. The Ifo Institute for Economic Research’s German business climate index figures for November were weaker than expected due to COVID infection rebound concerns. The National Statistics Office of France’s business and manufacturing confidence index data for November hit the highest level since 2007 as economic activity increased. European Central Bank Governing Council member Fabio Panetta said it can’t overreact to current inflation, while also calling for continued bond buying to combat the pandemic. In Asia, Markit Japan’s preliminary manufacturing purchasing managers’ index (“PMI”) data for November hit the highest level in four years, as COVID restrictions eased. Chinese Vice Premier Liu He, the country’s top economic policy official, said the government will focus on housing market stabilization in an effort to support prices. The Bank of Korea’s business survey data for November was flat, compared with October, as companies said domestic demand weakened The White House included Taiwan among invitees for its virtual Democracy Summit in early December, potentially stoking tensions with China. Elsewhere, Oil closed 0.31% higher while Gold fell 0.23% on further Dollar strength.
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 made 100 points yesterday, and is now ahead by 1353 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
To view the current daily levels commentary (which non-members can only view in older reports) you would need to purchase a Trader Noble Commentary Subscription from US$50/month.