On 27/09/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.
U.S. Equity Markets bounced around to end the week, closing mixed after a quiet trading session, as the S&P closed higher by 0.15% while the NASDAQ Composite fell 0.02%. Markets were little changed throughout much of the day. Investors had a few headlines to digest. The China Evergrande saga continued, with reports that the company had missed its bond payment. And Democrats planned a vote for this week on the $3.5 trillion spending package. In terms of economic data, New Home Sales rose in August and beat estimates. This showed that there is still strong demand for homes. Federal Reserve Chairman Jerome Powell spoke Friday, saying that the supply-chain issues pushing up prices were a factor that have never been seen before at this magnitude. He added that the tapering of asset purchases will not be a clue for when the central bank will begin raising interest rates. European Markets closed lower. The European Commission confirmed it will move forward with an initial tech-trade summit focusing on semiconductor supply with the U.S. this week in Pittsburgh. Germany’s Ifo Institute for Economic Research said its business climate survey for September showed companies were growing increasingly sceptical about future work. European Central Bank President Christine Lagarde said that many of the causes of the current inflation spike will be temporary. The German Elections were held yesterday, resulting in the Social Democrats narrowly beating Angela Merkel’s CDU/CSU to secure a narrow win. In Asia, The People’s Bank of China added roughly $11 billion worth of liquidity to the financial system, bring the total to around $42 billion over the last three days. Markit Japan’s preliminary composite purchasing managers’ index (“PMI”) data for September rose versus August, as service-sector activity rebounded. The Bank of Korea said businesses and households should be able to manage another interest rate hike to 1%, as higher rates would help to maintain financial market stability. Taiwan’s central bank left interest rates unchanged but raised its growth outlook for this year from 5.1% to 5.75%, while boosting its inflation forecast from 1.6% to 1.7%. Elsewhere, Oil rose a further 0.97% as India continued to grow its crude imports, signalling strong demand, while Bitcoin fell 6%, as China moved to ban all crypto-related activities.
To mark my 2400th 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 173 points last Friday and is now ahead by 2629 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
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.