Trader Noble Market Commentary 13/07/2021

On 13/07/2021 TraderTalent.com is bringing you Bryan Noble. U.S. Equity Markets rose ahead of the start of earnings season, with both the S&P and NASDAQ 100 again closing at new all-time highs. The Dow led yesterday’s rally, closing higher by 0.38%. Markets opened lower before rebounding throughout the day. Federal Reserve Bank of New York released its Consumer Expectations survey, showing that 12-month inflation expectations are at the highest level since the survey began in 2013. Vaccine news was positive, as National Institute of Allergies and Infectious Diseases Director Dr. Anthony Fauci said he is certain current COVID-19 vaccines will receive full Food & Drug Administration approval given the positive data. Infrastructure garnered some headlines, as the Senate returned from a recess with lots of work to do before its next recess in August. Overall, there was not a lot of news moving markets. All eyes are on the rest of the week. Earnings season kicks off today, with reports from the big banks. Quarterly Reports will be the big catalyst for markets in the coming weeks. However, European Markets closed lower. European Central Bank President Christine Lagarde said next week’s policy meeting will introduce a new framework to provide continued support for the regional economy. British Prime Minister Boris Johnson said the government is very close to easing many of its COVID-19-related social-distancing restrictions but urged continued public caution. A survey from advisory firm BDO showed that British Business Confidence has risen to the highest level since 2005, as companies prepare for the lifting of coronavirus restrictions. In Asia, People’s Bank of China adviser Wang Yiming said the recent Reserve Ratio cut should ensure the financial system has ample liquidity. China’s Ministry of Commerce accused the U.S. of “unreasonable suppression” of its companies and undermining international trade rules after 23 entities were added to the White House’s bla…

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