Trader Noble Market Commentary 27/07/2021
On 27/07/2021 TraderTalent.com is bringing you Bryan Noble. U.S. Equity Markets bounced around to start the week before rallying to end yesterday’s session at new highs, led by the Dow which closed with a gain of 0.24%. Markets opened lower before recovering throughout the day. Infrastructure made some headlines. House Speaker Nancy Pelosi (D-CA) told ABC’s “This Week” that she was optimistic about the $579 billion package, adding that she hoped it would pass in the Senate. However, she tied the infrastructure bill to a larger spending package. In terms of economic data, New Home Sales hit the lowest level since April 2020, as supply chain issues slowed the rate of new construction. The big catalysts for the week remain ahead. Earnings season is important, with 180 of the S&P 500’s components reporting this week — including the all- important Big Tech companies. The Federal Reserve’s policy announcement tomorrow will also be closely watched. European Markets closed mixed. German Head of the Chancellery Helge Braun said another coronavirus-related lockdown in the country was unlikely, but unvaccinated people may face restrictions. The German Ifo Business Climate Index unexpectedly fell in July, with respondents citing worries over rising COVID-19 cases and supply chain issues. Investors await the release of advanced second-quarter gross domestic product figures on Friday, for an update on the health of the region’s economic recovery. In Asia, China’s State Council said it will no longer allow online learning or educational technology companies to raise capital through initial public offerings, stoking technology crackdown fears. Markit Japan’s preliminary composite Purchasing Managers’ Index (“PMI”) data for July declined versus June, as the services sector’s contraction worsened due to COVID-19 restrictions. Taiwan’s industrial production figures for June beat expectations, as demand for electronic parts and semiconductors accelerated versus the month prior….
Access more detailed reports at https://www.tradertalent.com/trader-noble-market-commentary-27-07-2021/?feed_id=99&_unique_id=60ffbc9e1bc4d
#TradingStrategy
#Bitcoin #daytrading #dow #FederalReserve #futures #IFO #technicalanalysis #tradernoble #trading
Talented? Prove your trading talent at TraderTalent.com and earn a backed trading account of up to US$120,000. Start your 2 week free trial today!
