Quantcast
Viewing all 546 articles
Browse latest View live

Weekly Market Recap – July 19th, 2019

Weekly Market Recap – July 19th, 2019

In the Markets

After setting new all-time highs on multiple occasions in 2019, the major indices fell back down slightly. The Dow Jones dropped 0.7% last week, but held above the 27,000 benchmark. The NASDAQ and S&P 500 both lost 1.2% on the week, with the S&P dipping back below 3,000. As the markets move through earnings reports, investors will be looking to see if companies can exceed their low expectations as the wider global economy has been interpreted by some as cooling down.

Wall Street expectations point towards an expected interest rate cut at the end of July, but the question remains whether that will be a 25 or a 50 basis point (bp) cut. On Thursday, New York Fed President John Williams called for policymakers to “act quickly” during times of slowing economic growth, which many interpreted as a lean towards 50 bp. Afterwards Williams clarified that his comments were not about potential policy actions at the Fed’s July 31st meeting, reigniting uncertainty as to the magnitude of any potential rate cut. President Trump followed up on Twitter on Friday lobbying for the larger 50 bp cut.

Energy markets experienced an overall bearish trend last week. The ongoing trade dispute between the U.S. and China remains, joined by increasing tensions in the Middle East. On Thursday the U.S. downed an Iranian drone in the Strait of Hormuz, an event that Tehran later denied. On Friday, Iran seized a UK oil tanker in Omani waters. WTI crude futures plummeted 7.61% and Brent crude lost 6.37%. Gasoline dropped 6.9% on the week, while heating oil made it through the week with the least losses, down 4.57%. Natural gas futures also dropped, losing 8.23% as Hurricane Barry struck the Gulf Coast.

Gold edged slightly higher by just 0.61%, while silver soared on the week, gaining 6.29%. Platinum and copper both posted gains, up 1.82% and 1.74% respectively, but palladium lost for the second consecutive week, down 2.47%.

Agricultural commodities saw several minor losses, with soybeans down 1.35%, wheat dropping 3.87%, and corn losing 4.17%. Lean hogs skyrocketed back above $80/lb., gaining 18.1%. Coffee and milk futures rose slightly, up 0.51% and 0.35% respectively, but the cup of coffee this week was unsweetened as sugar futures lost 5.77%.

World Cup Trading Championships

Durai Ramasamy held above 200% with a first-place net return of 218.3%. Kurt Sakaeda retained second place, finishing the week with a net return of 174.3%. Holger Groechel climbed back into third place at a 162.4% net return. Eduardo Ramos maintained a spot on the leaderboard with his 102.5% net return, followed closely by top 5 newcomer Tim Hall and his 99.6% net return.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – July 19th, 2019 appeared first on World Cup Trading Championships.


Weekly Market Recap – July 26th, 2019

Weekly Market Recap – July 26th, 2019

In the Markets

With 40% of S&P 500 companies having reported earnings for the quarter, the index advanced another 1.7% on the week. The NASDAQ also gained on strong earnings reports, up 2.3% on the week. Most of the earnings reports came in better than analysts’ expectations, sparking continued growth from the S&P 500 as it eclipsed a 20% YTD return. A further boon to equities’ performance came in the form of better than expected second-quarter GDP growth estimates with a seasonally adjusted annual rate of 2.1%. While the other major indices saw growth on the week, including a 2% gain by the Russell 2000, the Dow Jones Industrial Average finished almost flat, up just 0.1%, due in part to a steep 8.6% decline in Boeing.

The oil products saw muted gains following last week’s precipitous drop. WTI crude rose 1.02% and Brent futures advanced 1.58%. Gasoline bested heating oil, gaining 1.84% compared to 0.78%. Unlike the rest of the energy sector, natural gas did not see a rebound from last week’s losses, dropping an additional 3.64% on the week.

Precious metals were a mixed bag this week. Gold dropped 0.54% while silver climbed 1.25%. Platinum and palladium both gained on the week, up 2.25% and 1.82% respectively, while copper fell 1.9%.

Grains and soybeans fell on the week. Wheat’s drop was the least substantial, down 1.43%, while soybeans lost 2.18% and corn dipped 3.77%. Lean hogs followed up last week’s meteoric rise with a smaller but still significant gain of 3.03%. Sugar advanced 3.71%, milk eked out a small 0.4% gain, but coffee did not follow suit, losing 6.88% on the week.

World Cup Trading Championships

Durai Ramasamy maintained first place at a net return of 222.8%. Second through fourth place, however, were separated from one another by less than 20%. Kurt Sakaeda managed to hold on to second place for another week with his net return of 177.8%, but close on his heels were Holger Groechel and Eduardo Ramos with their net returns of 162.7% and 159.8% respectively. The top 5 was rounded out by newcomer to the leaderboard Bruno Franca, who kept the top 5 all in triple digits with a net return of 103.1%.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – July 26th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 2nd, 2019

Weekly Market Recap – August 2nd, 2019

In the Markets

After several weeks of gains and new highs, U.S. equities came falling back to earth last week. The Dow Jones dropped 2.6%, the S&P 500 fell 3.1%, and the NASDAQ lost 3.9%. The main catalyst for the pullback seemed to be the return of tariff threats between the U.S. and China. After several weeks displaying the appearance of progress in trade negotiations, President Trump announced a 10% tariff on $300 billion worth of Chinese goods to go into effect on September 1st.

The tariff announcement came a day after the Fed’s July 31st meeting, where they chose to initiate a 25 basis point (bp) cut to interest rates. The interest rate cut was already predicted by the market, but investors had hoped for a larger cut of 50 bp. Additionally, the Fed announced an immediate end to balance sheet normalization one month ahead of schedule. As a result, the typically positive news of lowering interest rates was not enough to prevent equities from recording their worst week of 2019. On Friday the July employment report was released, showing 164,000 jobs added on the month, down from June’s 193,000.

Crude oil experienced a significant single day drop on Thursday, with WTI futures dropping 7.9% and Brent crude falling 7.17%. Gains to begin the week, as well as a slight rebound on Friday, left Brent falling a net 2.47% on the week, and WTI just losing 0.96%. Heating oil finished almost flat on the week, losing just 0.75%, while gasoline fell 4.96%. Natural gas posted its third straight losing week, down 2.21%.

Gold broke from the trend set by the rest of the precious metals sector by gaining on the week, up 2.74%. Silver dropped 0.77%, platinum fell 2.35%, and palladium plummeted 8.26%. Copper also dropped on the week, losing 4.54%.
Agricultural commodities joined the slew of futures to post losses on the week. Soybeans dropped 3.22% and corn fell 3.62%, while wheat managed to escape the week with just a 1% decline. Coffee and milk both fell on the week, down 1.6% and 1.09% respectively, while sugar finished flat. Lean hogs dropped double digits on the week, losing 11.7%.

World Cup Trading Championships

Durai Ramasamy weathered the eventful week, maintaining first place with a net return of 213.1%. The rest of the top 5 experienced some shuffling as Holger Groechel climbed into second place with a net return of 163%. Fabien Fischer took third place at a 114.4% net return, followed by Kurt Sakaeda who held a spot on the leaderboard with his fourth-place net return of 108.5%. Eduardo Ramos finished the week close on Kurt’s heels, standing in fifth place with a 106.3% return.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – August 2nd, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 9th, 2019

Weekly Market Recap – August 9th, 2019

In the Markets

Equity markets continued their slide down, albeit at a much slower pace than the week prior. The NASDAQ fell 0.9%, the Dow Jones slipped 0.7%, and the S&P 500 fell 0.5%. On Monday, the Yuan, China’s currency, dropped to a low since 2008, falling to weaker than 7 Yuan to the USD for the 3rd consecutive trading day. This drew accusations from Washington of currency manipulation, and contributed to the major indices’ biggest loss of the week. The S&P 500 lost 2.98% in Monday’s session, spending the rest of the week clawing away at that decline to return to almost flat.

The market’s rebound from Monday’s drop was seen in-part as a response to Chinese pushback against the “currency manipulator” moniker. The Chinese central bank’s vice-governor and head of the state’s Administration of Foreign Exchange Pan Gongsheng published an article on Monday stating that China “will not engage in a competitive devaluation and won’t use the exchange rate as a tool to handle international trade disputes” attributing Monday’s Yuan drop to external economic factors. In other international news, the new British Prime Minister Boris Johnson stated that the UK must be ready to leave the EU by the October 31st deadline, whether a deal is reached with the EU or not.

Oil products market their second straight weekly decline, and third in the last four weeks. WTI Crude dropped 2.08%, faring better than its Brent counterpart, which fell 5.43% on the week. Gasoline fell 6.03% and heating oil lowered 4.35%. Natural gas posted its 4th losing week in a row, although the pace of losses lessened, as the energy commodity fell just 0.09% on the week.

Precious metals fared well amidst interest rate cuts from central banks around the globe, as well as the aforementioned weak Yuan. Gold gained 3.5% and silver climbed 4.06%. Platinum and palladium did not perform quite as well, but still managed 1.9% and 0.76% gains respectively. Copper also managed to post gains, up 1.01%.

Soybeans, Corn, and Wheat all rebounded from a recent string of losses. Corn gained 2.69%, soybeans advanced 2.67%, and wheat rose 1.88%. Sugar and coffee both posted losses on the week, with sugar down 1.33% and coffee losing 0.87%. Milk on the other hand climbed 1.85% on the week. Lean hogs rebounded slightly from the week prior’s steep decline with a 3.61% gain.

World Cup Trading Championships

Durai Ramasamy held onto first amid another tumultuous week in the markets, finishing with a net return of 214.5%. Holger Groechel held onto the second place position with a net return of 179%, while Takumaru Sakakibara returned to the top 5 into third place with a net return of 149.8%, pushing Fabien Fischer and his 114.5% return into fourth place. The top five was rounded out by Eduardo Ramos and his 77% net return.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – August 9th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 16th, 2019

Weekly Market Recap – August 16th, 2019

In the Markets

Equity markets began the week on a high note as the White House announced plans to delay the 10% tariff on Chinese goods until December 15th, giving investors’ growth concerns a brief reprieve. The dampening of negative market sentiment was short-lived, however, as major indices quickly dipped following concerning economic data from Germany and China. The German GDP shrunk by 0.1% in the second quarter, while Chinese urban unemployment rates reached their highest levels in July since regular data reporting began.

The negative outlook was exacerbated by a brief yield curve inversion as 10-year rates fell below two-year rates for the first time since 2007, and 30-year yields dropped to a record low near 2%. After advancing 0.26% on the week through Tuesday’s close, the S&P experienced a single day dip of 2.93% on Wednesday following the bearish global economic news. The S&P 500 finished the week down a total of 1%, while the Dow Jones slid 1.5% and the NASDAQ lost 0.8%.

Crude oil managed to stop the bleeding this week, posting its first positive week in almost a month. WTI Crude rose 0.68% while Brent futures eked out a 0.19% gain. Heating oil also recorded a minor climb, up 0.27%, but gasoline broke formation, dipping 1.03% on the week. Natural gas managed to post its best week since early July, advancing 3.82%.

Precious metals, with the exception of platinum’s 1.5% decline, posted gains on the week amidst fears of a slowing global economy. Gold rose a single percentage point, silver climbed 1.13%, and palladium increased 1.88%. Copper, despite a minor salve applied to the U.S-China trade conflicts, fell 0.27%.

With the August WASDE report’s release, agricultural commodities posted losses across the board. Lean hogs posted the most precipitous decline, losing 21.5% on the week. Corn and wheat also fell on reports of increased supply, lacking a corresponding demand increase to support prices. Corn fell 9.57% and wheat dropped 5.95%. Soybeans fared slightly better, dropping just 1.62% on the week. Coffee and sugar both fell, down 4.57% and 1.85% respectively, while milk finished about flat, up just 0.06%.

World Cup Trading Championships

As the traders work their way through the second half of the year, Durai Ramasamy continues to hold onto poll position, sitting atop the leaderboard with a net return of 222.8%. Holger Groechel continues his chase from second, ending the week with a net return of 165.8%. Takumaru Sakakibara finished in third with a net return of 130.9%, followed by Fabien Fischer and his net return of 111.8%. Ryan Alderson made an appearance on the leaderboard this week, rounding out the top five with a net return of 72.6%.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – August 16th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 23rd, 2019

Weekly Market Recap – August 23rd, 2019

In the Markets

The week began with a rebound for U.S. equities, bouncing back from last week’s losses. Through Thursday’s close, the S&P 500 had gained 1.19%, punctuated by Fed Chairman Jerome Powell’s Jackson Hole Speech, which many saw as alluding to a more dovish stance moving forward with Powell’s acknowledgement of a deteriorating global economy. Powell also said that the economy is close to both goals of price stability and full employment.

The speech quickly became overshadowed, however, as the U.S. China trade conflict continued to escalate. China announced 5-10% tariffs on $75 billion worth of U.S. goods in two batches to go into effect on September 1st and December 15th respectively, including a 25% tariff on U.S. automobiles. President Trump responded by calling U.S. companies to withdraw their presence from China. The new tariff development made waves in equity pricing as the S&P 500 experienced a single day loss of 2.59% on Friday, erasing its gains through Thursday and falling 1.44% on the week. The Dow Jones fell 1% on the week and the NASDAQ dropped 1.8%.

Precious metals made minor gains in the wake of the losses in equities. Gold climbed 0.92%, platinum advanced 1.04%, and palladium rose 0.81%. Silver was the strongest performer of the sector, with silver futures gaining 2.52%. Copper, however, possibly felt the reverberating impact of China’s new tariff announcement, falling 2.04% on the week.

Crude oil products broke from their typical behavior of moving together. Brent crude rose 1.19%, while WTI Crude dropped 1.28% on the week. Gasoline and heating oil also broke from one another for the second week in a row, as Gasoline dropped 0.85%, but heating oil gained 0.15%. Natural gas futures’ positive run was short lived, as they fell back down, losing 2.18%.

Soybeans, another key commodity in U.S.-China trade, fell 2.7% on the week. Corn also dropped on the week, falling 3.03%, but wheat managed a modest gain of 1.01%. Lean hogs futures continued their descent, losing 4.35% and dropping below $60/lb. for the first time since early March. Coffee, sugar, and milk all fell on the week. Coffee fell 0.27%, milk dropped 0.17%, and sugar dropped 1.46%.

World Cup Trading Championships

The leaderboard made it through the eventful week fairly unscathed. Durai Ramasamy maintained the lead with a net return of 230.5%. Holger Groechel remained in second place with a 171.7% net return followed by Takumaru Sakakibara’s 136.8% net return. Fabian Fischer held onto 4th place at a 104.4% net return, and Ryan Alderson rounded out the top 5 with his 71.7% net return.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – August 23rd, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 30th, 2019

Weekly Market Recap – August 30th, 2019

In the Markets

Going into Monday’s open, worries surrounded President Trump’s response to Chinese retaliatory tariffs when he called for an increase in tariff rates on $525 billion worth of imports. These worries were short-lived, however, as reports referencing communication between China and U.S. negotiators mentioning a restart of trade talks emerged from the White House. China denied these contacts made to U.S. negotiators, but did express a willingness to return to the negotiation table, refraining from a retaliatory move to President Trump’s call for a tariff increase.

Investor fears were further quelled by revisions to second quarter economic data. Consumer spending makes up an estimated 70% of U.S. GDP, and reports show an increase in consumer spending of 4.7% in the second quarter, the strongest gain in four years. The Dow Jones increased 3%, the S&P 500 climbed 2.8%, and the NASDAQ gained 2.7% on the week.

Precious metals posted substantial gains on the week, but they left gold behind as gold futures dropped half a percentage point. Silver gained 4.49%, palladium rose 5.31%, and platinum had the best performance of the sector, advancing 8.88%. This all occurred in conjunction with a strengthening USD, as Dollar Index futures gained 0.97% on the week. This strengthening was in contrast to the Euro which dropped against the USD, leading President Trump to again request more action from the Fed.

Crude oil gained on the week, with both Brent and WTI futures rising. Brent gained 1.84%, while WTI gained 1.72%. Heating oil also climbed on the week, up 0.69%, but gasoline futures dropped losing 1.79% through Friday. Natural gas performed well on the week, gaining 6.18%.

Agricultural commodities finished the week with mixed results. Soybeans gained 1.54% as optimism is again on the rise regarding U.S. China trade relations. Corn slipped slightly, losing 0.49%, while wheat dropped 2.89%. That morning cup of coffee was a little less sweet on the week as coffee gained 1.08% and milk finished up 0.11%, but sugar lost 2.88% on the week. Lean hogs rebounded gaining 7.12%.

World Cup Trading Championships

Durai Ramasamy continued to reign atop the leaderboard, finishing the week at a net return of 219.8%. Holger Groechel finished in second at a 175.6% net return, followed by Fabien Fischer in third with a net return of 110.3%. Takumaru Sakakibara finished the week close on Fischer’s heels with a net return 106.2%, and the top five was rounded out by Sadanand Katasabail with a net return of 71.1%.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – August 30th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 30th, 2019

Weekly Market Recap – August 30th, 2019

In the Markets

Going into Monday’s open, worries surrounded President Trump’s response to Chinese retaliatory tariffs when he called for an increase in tariff rates on $525 billion worth of imports. These worries were short-lived, however, as reports referencing communication between China and U.S. negotiators mentioning a restart of trade talks emerged from the White House. China denied these contacts made to U.S. negotiators, but did express a willingness to return to the negotiation table, refraining from a retaliatory move to President Trump’s call for a tariff increase.

Investor fears were further quelled by revisions to second quarter economic data. Consumer spending makes up an estimated 70% of U.S. GDP, and reports show an increase in consumer spending of 4.7% in the second quarter, the strongest gain in four years. The Dow Jones increased 3%, the S&P 500 climbed 2.8%, and the NASDAQ gained 2.7% on the week.

Precious metals posted substantial gains on the week, but they left gold behind as gold futures dropped half a percentage point. Silver gained 4.49%, palladium rose 5.31%, and platinum had the best performance of the sector, advancing 8.88%. This all occurred in conjunction with a strengthening USD, as Dollar Index futures gained 0.97% on the week. This strengthening was in contrast to the Euro which dropped against the USD, leading President Trump to again request more action from the Fed.

Crude oil gained on the week, with both Brent and WTI futures rising. Brent gained 1.84%, while WTI gained 1.72%. Heating oil also climbed on the week, up 0.69%, but gasoline futures dropped losing 1.79% through Friday. Natural gas performed well on the week, gaining 6.18%.

Agricultural commodities finished the week with mixed results. Soybeans gained 1.54% as optimism is again on the rise regarding U.S. China trade relations. Corn slipped slightly, losing 0.49%, while wheat dropped 2.89%. That morning cup of coffee was a little less sweet on the week as coffee gained 1.08% and milk finished up 0.11%, but sugar lost 2.88% on the week. Lean hogs rebounded gaining 7.12%.

World Cup Trading Championships

Durai Ramasamy continued to reign atop the leaderboard, finishing the week at a net return of 219.8%. Holger Groechel finished in second at a 175.6% net return, followed by Fabien Fischer in third with a net return of 110.3%. Takumaru Sakakibara finished the week close on Fischer’s heels with a net return 106.2%, and the top five was rounded out by Sadanand Katasabail with a net return of 71.1%.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – August 30th, 2019 appeared first on World Cup Trading Championships.


Weekly Market Recap – September 6th, 2019

Weekly Market Recap – September 6th, 2019

In the Markets

Equity markets experienced its second straight week of gains following recent corrections. Last week’s rumors cemented themselves as concrete news as China agreed to meet in Washington in October for trade negotiations and Hong Kong leadership withdrew its extradition bill. Economic data was mixed on the week allowing the trade developments to provide a catalyst for the rally. According to reports from the Institute for Supply Management, manufacturing activity fell to a three-year low, while non-manufacturing activity accelerated its expansion compared to July.

In Europe, the UK Parliament voted to disallow new Prime Minister Boris Johnson from leaving the EU without an agreement. This move, combined with the Prime Minister losing a parliamentary majority, could make Brexit, a journey that began over three years ago, less likely. Additionally, employment reports showed 130,000 nonfarm payroll positions added in the month of August. This combination of news and data received a bullish interpretation from the market as the Dow Jones increased 1.5% on the week, while the S&P 500 and the NASDAQ both climbed 1.8%, with the S&P 500 again flirting with the $3,000 level.

Oil products, for the most part, experienced strong gains on the week. Gasoline, however, was left behind as futures fell 2.49% on the week. Both WTI and Brent crude gained on the week, up 2.51% and 1.8% respectively. Heating oil also rose, up 3.79%. Meanwhile, natural gas led the energy sector for a second straight week, increasing 8.45% on the week.Gold and silver slipped on the week, with gold falling 0.92% and silver losing 1.23%, but platinum broke from this trend, climbing 1.75%. Palladium’s week was less volatile than its fellow precious metals, moving up 0.36%. Copper exploded on the week, potentially feeling the effects of China’s and the U.S.’s return to the negotiation table, as the red metal rose 3.15% on the week.

Soybeans on the other hand, another important commodity in U.S.-China trade, fell on the week, down 1.25%. Corn also dropped, losing 4.53%, while wheat remained flat, moving up just 0.27% ahead of the August WASDE report to be released on September 12th. Coffee and milk went unsweetened for the second week in a row, up 3.31% and 1.95% respectively, while sugar fell again, down 1.09%.

World Cup Trading Championships

Durai Ramasamy and Holger Groechel both finished first and second again, separated by less than 25%, with Durai holding first at a 217.5% net return followed by Holger’s 194.1% net return. The rest of the leaderboard experienced a shakeup with Eduardo Ramos making his way back into the top 5, securing third place on the back of a 158.7% net return. Takumaru Sakakibara took fourth with his 129.4% net return, and the top five was rounded out by Fabien Fischer’s 111.4% net return.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – September 6th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – September 13th, 2019

Weekly Market Recap – September 6th, 2019

In the Markets

U.S. equity indices posted gains for the third week in a row in response to positive sentiments surrounding global trade. President Trump announced a delay to the tariff rate increase on $250 billion of Chinese imports from an October 1st scheduled date to October 15th, providing an extra two weeks for the U.S. and China to make progress in trade negotiations. Trump also stated intentions to consider an interim trade deal. China also announced exemptions to some of their more significant tariffs on pork and soybeans. Other news with potential geopolitical impact came in the form of National Security Director John Bolton stepping down from the Trump administration.

The meeting of the European Central Bank resulted in a cut of ten basis points to short term interest rates as well as a return to quantitative easing at 20 billion euros per quarter starting in November. Attention now turns to the United States’ fed and its September 18th meeting. On the week, the Dow Jones gained 1.6%, the NASDAQ rose 0.9%, and the S&P 500 climbed 1%. The Russell 2000 also posted a strong week, gaining 4.8%.

Palladium broke form from the rest of the precious metals sector, climbing to a new high with its 4.39% gain. Silver, gold, and platinum all fell on the week. Platinum experienced the smallest drop of the three, down 0.28%, while gold fell 1.06%, and silver slid 3.04%. Copper managed a 2.51% gain on the week.

Crude oil products fell on the week as rumors surfaced of potential meetings between the U.S. and Iran. WTI futures lost 2.95% and Brent crude fell 2.14%. While their decline was not as steep, gasoline and heating oil also declined on the week, losing 1.34% and 1.18% respectively. Natural gas, however, continued its bullish streak by posting its third week of gains in a row, up 4.73% on the week.

Several agricultural commodities posted gains on the week. Soybeans climbed 4.75%, corn grew 3.8%, and wheat advanced 4.32%. Lean hogs, which joined soybeans on China’s higher tariff exemption list, gained 4.68%. Coffee gained 5.87% as milk rose 1.95%, but sugar posted its 6th straight losing week, dropping 1.18%.

World Cup Trading Championships

Durai Ramasamy again closed the week in first place, posting a 213.7% net return at Friday’s market close. Second and third place finished with a razor thin margin as the two traders ended the week only 0.4% apart. Sadanand Kalasabail returned to the top 5, climbing to second place with a 189.6% net return, followed closely by Eduardo Ramos’s 189.2% net return. Holger Groechel finished less than 15% behind them with a net return of 175%. Takumaru Sakakibara finished in fifth place, closing out the top 5 with a net return of 119.7%.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – September 13th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – September 20th, 2019

Weekly Market Recap – September 20th, 2019

In the Markets

The Fed elected to cut short-term interest rates in their Wednesday meeting, lowering it by 25 basis points (bp). Despite the move, equity markets ended their three week streak of gains, with the prevailing market sentiment already anticipating the rate cut. The Dow Jones fell 1%, the NASDAQ dropped 0.7%, and the S&P 500 lost half a percentage point. Additional bearish news came on Friday when the Chinese delegation cut its White House stay short, hinting at potential breakdowns in trade discussion.

The news out of the Fed’s meeting room that appeared to have the biggest impact was not the decision itself, but the opinion split amongst the officials. The vote was 7-3, with one official dissenting and voting instead for a 50 bp cut, while the other two dissenting voices wanted to keep the federal funds rate unchanged. This division leaves the Fed’s schedule for rate changes unknown moving forward.

On Saturday, September 14th a drone strike was carried out against the Khurais and Abqaiq oilfields in Saudi Arabia. Houthi rebels in Yemen claimed responsibility for the act, but in the days since the event U.S. and U.K. officials have placed blame on Iran itself. The strike on the Saudi refineries impacted an estimated 5% of total global oil output, sending crude oil futures skyrocketing to start the week. WTI crude gained 5.91% on the week and Brent crude climbed 6.74%. Gasoline advanced 8.07% and heating oil rose 5.78%. Natural gas ended its streak of gains, however, falling 3.06%.

Gold and silver both climbed on the week, up 1.04% and 1.59% respectively. Platinum, however, fell slightly, losing 0.35%, while palladium climbed 1.04%. Copper fell 3.44% on the week with China-U.S. trade negotiations hitting yet another speed bump.

Soybeans also fell on the week, down 1.77%. Wheat finished nearly flat on the week, up 0.39%. Corn was a top performer in agricultural commodities, gaining 4.29%. The recent coffee trend reversed this week, with coffee and milk losing on the week while sugar posted gains. Coffee fell 3.98%, milk dropped 0.27%, while sugar gained 1.84%.

World Cup Trading Championships

Durai Ramasamy took first place, closing at a net return of 216.9%. Eduardo Ramos finished the week in second place, posting a net return of 182.3%. Holger Groechel took third place at a 135.9% net return, followed closely by Sadanand Kalasabail’s 132.2% net return. The top five was rounded out by Fabien Fischer who finished the week at a net return of 120%.

The Global Cup Derivatives Trading Championship has been running since June 1st, and the top five this week in the lightweight division featured four traders exceeding a 100% net return. Wayne Wan took first at a 129.3% net return, while Eduardo Ramos claimed second place on both leaderboards with his 118.9% net return. Jan Smolen finished the week in third at a 100.9% net return, followed closely by Michael Cook’s 100.5% net return. Maxim Schulz took the last spot on the Global Cup leaderboard with a 72.8% net return.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – September 20th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – September 27th, 2019

Weekly Market Recap – September 27th, 2019

In the Markets

U.S. equities fell on the week with two main catalysts driving the decline. First, on Tuesday, House Democrats announced an impeachment inquiry into President Trump. There is a slim chance that the impeachment inquiry will lead to an eventual removal of President Trump before the 2020 election with a Republican controlled Senate. Regardless, the political turmoil may cause uncertainty in regards to trade negotiations and other geopolitical issues. The second event that drove markets down was Friday’s Bloomberg headline reporting potential plans out of the White House to limit U.S. investor portfolios flowing into China, as well as de-listing Chinese companies from U.S. stock exchanges.

In total, the Dow Jones faired the best on the week, losing just 0.4%. The S&P 500 lost a percentage point, while the NASDAQ dropped 2.2%. The Russell 2000 also dropped on the week, losing 2.5%. Meanwhile, weekly jobless claims came in at 213,000, maintaining historic lows, and August new home sales reached one of the highest marks since October 2007, reporting 713,000 homes sold.

Despite the recent strike on Saudi oil refineries, and growing tensions in the Middle East, crude oil products fell on the week. WTI and Brent both fell over three and a half percentage points, with WTI dropping 3.75% and Brent futures losing 3.69%. Gasoline and heating oil both also dropped on the week, although not as steeply as crude. Gasoline dropped 1.61% and heating oil lost 2.25%. Natural gas also posted losses on the week, falling 5.13% on reports of higher than expected supply.

Precious metals fell across the board, with the exception of palladium. Gold lost 0.57%, while silver dropped 1.1% and platinum fell 1.87%. Copper made it through the week fairly unscathed, losing just 0.35%. Palladium broke from the rest of the sector, extending its bullish streak to 8 straight weeks of gains, gaining 2.06% on the week.

Many agricultural commodities finished nearly flat on the week. Soybeans barely moved, up just 0.07%, corn inched higher, up 0.2%, and wheat futures gained 0.46%. Sugar, however, posted a strong week, gaining 3.97%. Coffee also gained 2.54%, while milk moved up just 0.11%. Lean hogs did not completely recover from the losses of the week prior, but still managed to climb 8.17% on the week, continuing its streak of high volatility.

World Cup Trading Championships

In the World Cup Trading Championships, Durai Ramasamy held onto first place, ending with a 211.4% net return. Eduardo Ramos finished in second place with a net return of 153.1%, followed by Holger Groechel’s 128.9% net return. Fabien Fischer finished less than three percentage points behind Groechel, ending the week in fourth place with a net return of 126.1%. Sadanand Kalasabail held onto a stop in the top five with a net return of 112.8%.

In the Global Cup, Wayne Wan remained in first place with his 129.2% net return, followed by Michael Cook’s 111.1% net return. Eduardo Ramos closed Friday in third place with a 90.6% net return. Jan Smolen remained in the top five with a 75.3%, with Maxim Schulz again closing out the leaderboard at 72.6%.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – September 27th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – October 4th, 2019

Weekly Market Recap – October 4th, 2019

In the Markets

The S&P 500 ended a volatile week losing 0.33%. The major moves began with bearish economic data in the form of the Institute for Supply Management (ISM) September report. The report’s Manufacturing Index dropped to its worst point since June 2009, falling to 47.8% from August’s 49.1%. The ISM Non-Manufacturing Index also fell from August to September, from 56.4% to 52.6%. Through Wednesday’s close, the S&P had lost 2.5% on the week.

However, a late week rally brought the equity index back to flat as the September employment report showed 136,000 nonfarm payrolls added in the month, as well as upward revisions to August and July employment data. The unemployment rate fell to 3.5%, its low point since December 1969. Thursday-Friday’s rebound saw the S&P 500 gain 2.23% on its way to that 0.33% drop. The Dow Jones fared slightly worse, losing 0.9%, while the NASDAQ managed to gain 0.5% on the week.

Crude oil markets experienced a second straight week of losses, this one more substantial than the previous. WTI futures lost 5.54% and Brent futures lost 5.72%. Gasoline fell 4.72%, while heating oil managed the best performance of crude products, losing just 2.43%. Natural gas continued its decent, losing 2.16% on the week.

Gold managed to gain 0.43%, although this broke from the trend set by the rest of the precious metals sector. Silver slipped slightly, down 0.15%, as platinum plummeted 4.75% on the week. Copper lost 1.39% and palladium managed just a 0.73% loss.

While several sectors dropped on the week, agricultural commodities managed gains across the board. Soybeans climbed 3.71%, joined by corn’s 3.57% rise. Wheat gained at a slower pace than its counterparts, up 0.84%. Lean hogs continued its see-saw trend of following up a week of gains with a week of losses, falling 4.41%. Coffee finished down 1.88% and milk finished nearly flat, up 0.16%. The markets seemed to have a sweet tooth this week, as sugar exploded, gaining 10.67%.

World Cup Trading Championships

Durai Ramasamy continued to hold onto pole position in the World Cup Trading Championships with a net return of 216%. Fabien Fischer took over second place, climbing over Holger Groechel and Eduardo Ramos to finish the week with a net return of 126.2%. Holger and Eduardo remain on the leaderboard, however, as Holger Groechel took third with a net return of 108.2%. Sadanand Kalasabail followed him in fourth at a net return of 107.3%, followed by Eduardo’s fifth best 103.6% net return.

Wayne Wan and Michael Cook retained their one-two lead over the Global Cup Derivatives Trading Championship field for the lightweight division. Wayne finished in first with a 193.8% net return, followed by Michael’s 124.3% net return. Third place went to Stefan Seibert and his 79.1% net return, followed closely by Maxim Schulz 72.7% net return. The top 5 was rounded out by Jan Smolen with his 55.8% net return.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – October 4th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – October 11th, 2019

Weekly Market Recap – October 11th, 2019

In the Markets

The week began with yet another batch of perceived bad news on the trade front, with 28 additional Chinese companies blacklisted. This bars U.S. companies without a specific license from doing business with any entities listed. The development sent the S&P 500 down 2% through Tuesday’s close as investors feared the blacklisting having negative ramifications on planned talks between U.S. and Chinese officials at week’s end. However, the attitude shifted in the latter half of the week, with reports from those trade negotiations of a partial deal. This was punctuated by the Trump administration suspending the tariff increase from 25% to 30%. The increase was set to go into effect on Tuesday, affecting $250 billion in Chinese goods.

There is still work to be done, however, with the state-controlled news outlet China Daily suggesting to the two nations that “the Champagne should probably be kept on ice.” Regardless of the uncertainties still surrounding these tentative trade relations, equity markets rebounded on Thursday and Friday. From Tuesday’s close, the S&P 500 gained 2.67%, marking a 0.62% net gain on the week. The Dow Jones and NASDAQ also posted gains, both up 0.9%.

Tehran posted photos from Friday, October 11th of an Iranian Sabiti tanker with two large holes in its hull, alleging a missile strike by an unknown assailant. With tensions continuing to escalate in the oil rich Middle East, crude prices climbed on the week. WTI futures gained 3.58% and Brent futures climbed 3.67%. Crude products followed suit, with gasoline gaining 4.16% and heating oil posting a 3.33% increase. Natural gas, however, dropped for the fourth week in a row, losing an additional 8.87% on the week.

Precious metals were a story of two halves, with the old and new diverging in performance. The old guard, gold and silver, both fell on the week. Silver lost 0.46%, while gold slid 1.6% on the week. On the other hand, both platinum and palladium shone like new metal, gaining 1.76% and 1.96% respectively. Copper also gained on the week, in part due to potential links with the U.S-China trade negotiations, up 2.58% on the week.

Soybeans, corn, and wheat all posted gains together for the third week in a row. Soybeans posted a 2.03% gain on the week, while corn and wheat finished with higher gains; corn rose 3.38% and wheat climbed 3.82%. Milk gained 1.8%: however, both sugar and coffee fell. Sugar lost 2.74%, as coffee fell 5.35%.

World Cup Trading Championships

Durai Ramasamy again closed the week in first place of the World Cup Trading Championships, extending the streak as the leading net return grew to 222.9%. Sadanand Kalasabail climbed from fourth place into second, growing his net return to 132.6%. Fabian Fischer held onto third place with a 125.4% net return, followed by Ryan Alderson’s 118.1% net return. The top 5 was rounded out by Takumaru Sakakibara and his 102.2% net return.

Wayne Wan continued his lead over the Global Cup field with a 193.8% net return. Wayne was followed by Michael Cook, who’s Global Cup strategy joined World Cup Advisor last week, whose Championship account remained in second place with a 130.1% net return. Stefan Seibert’s 92.4% net return was enough for third place. Jan Smolen jumped over Maxim Schulz, climbing to an 89.2% net return which was good enough for fourth place, besting Maxim’s 72.7% net return, which retained fifth place.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – October 11th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – October 18th, 2019

Weekly Market Recap – October 18th, 2019

In the Markets

The major equity indices collectively fell close to flat on the week, as the S&P 500 continues to flirt with its high, just 1% shy of its high reached earlier in the year. The S&P 500 was up 0.5% on the week, while the NASDAQ gained 0.4% and the Dow Jones lost 0.2%. The week provided a wide variety of market news in an eventful time for the global economy. First, third quarter earnings reports began being released, with better than expected results coming from the financial and transportation sectors. While this conflicted with some of the economic data released this week, including the International Monetary Fund (IMF) lowering its projected global growth for 2019 from 3.5% to 3%, investor sentiment remained optimistic, bolstered by increased expectations of another Fed interest rate cut at their October meeting.

Internationally, roadblocks continued to surface for attempts at global cooperation and negotiation. While the China-U.S. trade negotiations are still riding the positive developments regarding the first phase of the deal, U.S. legislative support for pro-democracy protestors in Hong Kong could become a wrench in the system, as China threated to retaliate against such support. In Europe, an agreement reached between the EU and UK regarding Brexit was temporarily thwarted by Parliament’s narrow vote on Saturday. In the first formal Saturday gathering of British lawmakers in 37 years, opponents of Prime Minister Boris Johnson’s plan attempted to bar Britain from leaving the EU without Parliament’s approval.

Despite the large percentage of the global oil supply tied up between Saudi Arabia and Iran, who’s tensions in the region remain high, crude oil prices dropped on the week. WTI futures fell 2.68% and Brent crude lost 1.8%. Gasoline lost 0.96% and heating oil futures dropped 0.54%. Natural gas finally experienced a reprieve from recent losses, gaining 4.79% on the week.

Precious metals saw limited movement this week, with the exception of palladium, which climbed 3.22% on the week. Gold gained 0.36%, silver progressed a meager 0.19%, while platinum lost half a percentage point. Copper also finished nearly flat, moving up just 0.3%.

Soybeans also completed a week of low volatility, moving down just 0.05%. Corn lost 1.7%, while wheat increased 4.15%. Coffee gained 2.13%, while sugar lost 0.73% and milk dropped slightly by 0.05%. Lean hogs gained 7.99% through Friday.

World Cup Trading Championships

Durai Ramasamy’s 225.5% net return was good enough to again place him at the top of the WCTC leaderboard. Durai was followed by Sadanand Kalasabail’s second-place 164.5% net return. Fabien Fischer held on to third place at a net return of 125.4%, followed closely by the 122.4% net return of Ryan Alderson. The top five was rounded out by Takumaru Sakakibara’s 102.2% net return.

Wayne Wan continued to reign as the leader of the Global Cup, boasting a net return of 193.8%. Michael Cook finished in second place with a net return of 107.6%, followed by Stefan Seibert’s 98.6% net return. Maxim Schulz posted a fourth-place 70.2% net return and Jan Smolen rounded out the top five with a 58.7% net return.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – October 18th, 2019 appeared first on World Cup Trading Championships.


Weekly Market Recap – October 25th, 2019

Weekly Market Recap – October 25th, 2019

In the Markets

Third quarter earnings reports continued to impress investors as results proved better than expected. The Dow Jones had the smallest gain of the three main U.S. indices, up 0.7%, while the NASDAQ gained 1.9% and the S&P 500 neared all-time-highs again, gaining 1.2%. Focus this week will be on the Fed which meet on Thursday, October 31st, when investors will await another predicted rate cut. Across the pond, the EU agreed to extend the Brexit deadline to January 31st, 2020. The original deadline was for this Thursday, October 31st. The new deadline still allows a UK exit before the last day of January if a deal is approved by Parliament.

Through Friday’s close, crude oil products posted gains on the week. WTI crude gained 5.36%, as Brent futures attempted to keep pace, gaining 4.38%. Gasoline futures climbed 3.08%, while heating oil moved at a slower pace, rising just 1.67%. Natural gas lost 0.86% as markets prepare to move into the winter season.

Precious metals all posted gains on the week, with platinum leading the way with a 3.80% increase, returning above $900/t oz. Silver gained 1.98% while gold’s gains were more muted, up just 0.75%. Palladium gained 0.83%, while copper also posted gains, up 1.48% as reports indicate China and the U.S. may be approaching a finalized trade agreement.

Agricultural commodities saw several members of the sector falling on the week. Soybeans lost 1.23%, corn dropped 1.09%, and wheat fell 2.71%. Coffee broke from this trend, however, posting a gain of 3.92% on the week. Sugar and milk joined coffee, albeit with a much more subtle climb, up 0.24% and 0.21% respectively. Lean hogs dropped significantly, almost removing all of the gains of the prior week, falling 4.46%.

World Cup Trading Championships

Durai Ramasamy and Sadanand Kalasabail both closed Friday in the 200% club, with Durai leading the way with a 229.8% net return followed by Sadanand’s 212.8% net return. Third and fourth place were separated by just 0.3%. Fabian Fischer grasped third place at a 125.4% net return, followed by Ryan Alderson’s 125.1% net return. Eduardo Ramos rounded out the top five with a 112.8% net return.

In the Global Cup Wayne Wan again secured first place with a 195% net return, followed by Jan Smolen who soared from fifth place into second with a 124.4% net return to close the week. Stefan Seibert held onto third place with his 108.5% net return, while Michael Cook retained a place on the leaderboard with a net return of 106.9%. The last spot on the leaderboard was claimed by Maxim Schulz who finished the week at a net return of 65%.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – October 25th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – November 1st, 2019

Weekly Market Recap – November 1st, 2019

In the Markets

The U.S. equity markets continued wearing their bull costumes during the Halloween week as stocks set record highs. The Dow Jones gained 1.4%, the NASDAQ climbed 1.7%, and the S&P 500 added 1.5%. The catalyst for this growth came in many forms, including the expected 25 basis point interest rate cut instituted by the Fed. The central bank also stated that an additional rate cut should not be expected in the near future, as they continue to monitor inflation. Markets were also spurred on by October’s employment report, which recorded 128,000 jobs added on the month. Additionally, August and September numbers were revised up by a total of 95,000, resulting in a three-month average of 175,000 additional non-farm payroll positions per month.

While growth continued, economic data was not all positive. The manufacturing sector had a third month in a row showing signs of contraction with a softer than expected IHS (Information Handling Service) Purchasing Managers’ Index, which measures sentiment in the manufacturing sector. GDP data continued to show economic growth, albeit at a slower pace, growing at 1.9% during July through September.

Following a week of gains, crude oil products pulled back slightly this week. WTI crude fell 0.81% and Brent futures lost 0.53%. Gasoline dropped 1.03%, while heating oil posted the weakest performance of the sector, falling 2.35%. Natural gas, however, posted a substantial gain of 18% on the week as futures closed the week above 2.7/MMBtu for the first time since March.

Precious metals were again a tale of two halves: the old and the new. Gold and silver posted moderate gains, with silver up 0.7% and gold increasing just 0.41%. Platinum and palladium, however, climbed at a rate almost 4 times that of gold and silver. Palladium gained 2.27% on the week, and platinum climbed 2.6%. Copper fell on the week, losing 0.82%.

Agricultural commodities were a mixed bag this week. Wheat fell 0.32%, corn grew 0.64%, and soybeans climbed 1.53%. Lean hogs inched down 0.72%. The futures market’s latte got pricier this week, with sugar climbing 1.05%, coffee rising 4.58%, and milk gaining 8.14%.

World Cup Trading Championships

After what had become a seemingly insurmountable lead, Durai Ramasamy was unseated from the top position on the leaderboard. As the World Cup Trading Championship’s main event moved into its final two months, Sadanand Kalasabail took the lead with a net return of 211.1%. Durai Ramasamy remained in strong contention, holding second place with a 200.1% net return. Third place went to Ryan Alderson’s 159.2% net return, followed by Fabien Fischer who posted a fourth-best 125.4% net return. Eduardo Ramos returned to the leaderboard to round out the top five with a net return of 103.8%.

Wayne Wan’s trading strategy just went live on World Cup Advisor, as his championship account held onto first place in the Global Cup with a 191.9% net return. Jan Smolen finished in second with a 110.9% with Stefan Seibert and his third place 109% net return right on his heels. Michael Cook finished the week in fourth place at a net return of 89.4%. Yingying Cai of China made an appearance on the top five, finishing with a net return of 69.5%.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – November 1st, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – November 8th, 2019

Weekly Market Recap – November 8th, 2019

In the Markets

US equities finished higher for the fifth straight week as the S&P 500 gained 0.9%, the NASDAQ climbed 1.1%, and the Dow Jones Industrial Average rose 1.2% as the stock market again set new record highs on the week. This growth was spurred on by a mixture of better-than-expected corporate earnings and positive developments in trade negotiations. Additionally, treasury yields climbed to their highest in three months as a sell-off sent the 2-yr yield rising by ten basis points (bp) to 1.66% and the 10-yr yield rising 20 bp to 1.93%.

Through Friday, 90% of S&P 500 companies had reported their third quarter earnings, with an estimated 78% of those companies reported exceeding depressed expectations. Corporate profits fell 1% year-to-date through November 8th: however, the degree that the reports were better-than-expected was significant enough to spark further bullish sentiment in equities. This combined with positive reports from US-China trade negotiations, including Commerce Secretary Wilbur Ross stating that “good progress” was being made in “Phase One” of the negotiations. The optimistic take was shared by Chinese officials as well, with China’s Commerce Ministry announcing an agreement with the U.S. for both sides to phase out tariffs.

An odd occurrence happened in the crude oil markets, as crude futures gained while crude products fell on the week. WTI crude and Brent crude gained 1.85% and 1.33% respectively, as gasoline and heating oil diverged from the sector. Gasoline lost 1.33% on the week and heating oil dropped 0.78%. As forecasts signifying lower temperatures sat on the horizon, combined with lower-than-expected inventory injection, natural gas gained another 2.76% on the week.

Precious metals moved together this week, posting losses across the board. Silver and platinum were finished lock-step with one another, with silver dropping 6.81% and platinum dropping 6.8%. Gold fell 3.21% on the week while palladium dropped 3.84%. Copper managed to escape the week with gains as it rose 1.09% as tensions between the US-China cool off.

Despite positive developments in global trade between the US and China, soybeans fell 0.67% on the week. Wheat also dropped, losing 0.92%, while corn plummeted on the week, dropping 3.08%. Sugar gained 0.72%, while coffee increased by 5.24%. The market’s morning coffee was light on dairy, as milk lost 0.84% on the week. Lean hogs also dropped, falling 0.51%.

World Cup Trading Championships

Durai Ramasamy reclaimed the lead in the World Cup Trading Championships, jumping over Sadanand Kalasabail to finish in first place with a net return of 200%. Sadanand held onto second place with a net return of 181.8%, followed by Ryan Alderson’s third-best 168% net return. Eduardo Ramos closed the week with a net return of 127.3%, with Fabien Fischer finishing just over two percentage points behind him with a net return of 125.1%.

In the Global Cup, Wayne Wan continued to pace the field with his 191% net return. Jan Smolen finished in second with a net return of 141.4%, followed by Stefan Seibert and his 99% net return. Maxim Schulz finished in fourth place, ending the week with a net return of 84%. The top five was rounded out by Michael Cook and his 81.9% net return.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – November 8th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – November 15th, 2019

Weekly Market Recap – November 15th, 2019

In the Markets

“U.S. stocks reach a new high” has been a reoccurring headline in equity markets, and this most recent week was no different. U.S. stocks climbed for the sixth week in a row, which is the longest streak in the last two years. The NASDAQ gained 0.8%, the S&P 500 rose 0.9%, and the Dow Jones advanced 1.2%, putting all three indices above a 20% year to date return in 2019. The Dow Jones has gained 20.1% in 2019, the S&P 500 has climbed 24.5% year to date, and the NASDAQ has climbed 28.7%. Despite numerous political issues dominating the news cycle, sentiment surrounding markets has remained positive.

Developments in US-China trade relations continue to be seen with an optimistic eye as the two superpowers work for a deal. With the third quarter earnings reports wrapped up, focus turned back to other sources of economic data. October retail sales, reported by the National Retail Federation, were up 0.2% since September, and 4.2% year-over-year. Additionally, the Purchasing Manager’s Index increased for the third straight month as global manufacturing attempts to move out of its recent slump.

Crude oil advanced for the second straight week, and for the third in the last four weeks. WTI rose 0.84% while Brent crude gained 1.26%. Heating oil followed suit, up 1.56%, while gasoline finished the week almost flat, moving up just 0.08%. Natural gas, however, fell back below 2.7/MMBtu as it lost 3.62% on the week.

Gold, silver, and platinum all posted modest gains on the week. Silver saw the most significant climb, up 0.74%, while gold rose 0.38% and platinum 0.3%. Palladium broke from this trend, falling for the second consecutive week as futures lost 2.22%. Copper also slipped, falling 1.64%.

Agricultural commodities also displayed weakness on the week. Soybeans lost 1.3%, corn dropped 1.59%, and wheat fell 1.45%. Coffee also fell, down 3.02%, while sugar and milk both posted gains on the week. Sugar ticked up 1.27% and milk futures climbed 1.15%.

World Cup Trading Championships

Poll position in the World Cup Trading Championship again changed hands on the week, with Sadanand Kalasabail regaining first place thanks to a 228.5% net return. The leaderboard shake-up extended to second place, which went to Ryan Alderson and his 171.2% net return. Durai Ramasamy held onto a place on the top five, finishing the week in third place with a 145.5%. Eduardo Ramos closed Friday in fourth place, with his gap behind Durai narrowed to single digits due to his 136.7% net return. Closing out the top five was Fabien Fischer’s 125.1% net return.

In the Global Cup, Wayne Wan ended the week with a tournament-best 195.9% net return. Jan Smolen held onto second place with his 187.6% net return, followed by third-place trader Stefan Seibert who ended Friday at a net return of 101.6%. The Global Cup leaderboard was punctuated by Maxim Schulz and Michael Cook, who finished with net returns of 92.1% and 90.1% respectively.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – November 15th, 2019 appeared first on World Cup Trading Championships.

Weekly Market Recap – November 22nd, 2019

Weekly Market Recap – November 22nd, 2019

In the Markets

U.S. equities broke their six-week streak of gains, declining on the week, albeit by a small decline. The Dow Jones Industrial Average lost 0.5%, the S&P 500 fell 0.3%, and the NASDAQ lost 0.2%. Due to the muted nature of these losses, volatility again remained low in equity markets. A main focus of the week was again the US-China trade negotiations, as investors began to speculate whether phase one of the trade deal would be completed before the end of 2019. Reports from China indicated that even if a deal is not reached before 2020, the December 15th tariffs could still be delayed as talks continue.

A potential complication arose when the U.S. Senate passed the Hong Kong Human Rights and Democracy Act, which was not met with excitement from Beijing. However, Chinese leader Xi responded by calling for mutual respect and equality moving forward. Positive news came in from the manufacturing sector, as preliminary reports from the U.S. Purchasing Managers’ Index showed improved activity in November following recent global slumps in manufacturing.

Crude oil futures finished the week nearly flat. Brent futures inched up just 0.14%, while WTI futures’ gains were even more muted, up just 0.09%. Gasoline, on the other hand, broke from this trend, climbing 2.4% on the week. Heating oil also broke this trend, although it did so by falling 0.95%. Natural gas fell for the second week in a row, but this week’s losses were not as severe as the week prior, with the commodity falling 0.86%.

Precious metals, for the most part, all posted very minor gains. Silver climbed 1.17%, while gold and platinum barely moved the needle, up 0.14% and 0.15% respectively. Palladium, however, managed more significant gains on the week, recovering its losses the week prior, advancing 4.21% on the week. Copper also posted minor gains, up 0.8%.

Agricultural commodities posted a wide variety of results on the week. Soybeans, corn, and lean hog futures all dropped on the week. Soybeans fell 2.42%, corn lost 0.67%, and lean hogs dropped 3.12%. On the flip side, wheat futures, along with the triumvirate morning-cup-of-coffee futures, all posted gains. Wheat advanced 2.29%, coffee added 7.96%, sugar gained 0.79%, and milk futures went up 0.54%.

World Cup Trading Championships

Sadanand Kalasabail maintained his recently earned position atop the leaderboard, closing Friday with a net return of 241.9%. Ryan Alderson likewise held onto second place, finishing with a 175% net return. Durai Ramasamy’s 143.1% net return was good enough for third, followed by Eduardo Ramos’s fourth-best 130.3% net return. Fabien Fischer rounded out the top five, ending the week with a net return of 125.1%.

Wayne Wan continued to lead the Global Cup field with a 188.6% net return, although Jan Smolen closed Friday right on Wayne’s heals. Separated by just 3.2%, Smolen closed the week with a net return of 185.4%. Third and fourth place were also separated by an even smaller margin, with Stefan Seibert’s 94.8% net return just 2.7% ahead of Maxim Schulz. Maxim ended the week at a 92.1% net return. Archie Ma is currently in fifth place, claiming a spot on the leaderboard with a net return of 75.7%.

 

Image may be NSFW.
Clik here to view.

Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. World Cup Championship (WCC ) accounts do not necessarily represent all the trading accounts controlled by a given competitor. WCC competitors may control accounts that produce results substantially different than the results achieved in their WCC accounts. WCC entrants may trade more than one account in the competition.

The post Weekly Market Recap – November 22nd, 2019 appeared first on World Cup Trading Championships.

Viewing all 546 articles
Browse latest View live