Weekly Market Recap – November 29th, 2019

In the Markets

With market hours shorted by a day and a half for Thanksgiving week, investors had yet another bullish week in U.S. Equity markets to be thankful for. Through Wednesday, U.S. stocks had once again pushed towards new all-time highs, as the S&P gained 1.39% through the close of November 27th. Friday’s half-day saw a slight pullback, but the S&P 500 still netted a 1% gain on the week. The NASDAQ bested this performance with a 1.7% gain on the week, while the Dow Jones Industrial Average inched up 0.6%. As markets enter the final month of 2019, the S&P 500 has managed a 25.3% year-to-date growth. If the year’s trading ended Friday, then 2019 would mark the 19th best single-year return since 1928, and its best percent gain since 2013.

The markets continue to derive positive sentiment from the general optimism surrounding US-China trade talks, as no new developments have rained out the possibility of a Phase 1 trade deal before January 1st. Other bullish news bolstering equity performance came in the form of fresh economic data, including a decrease in first-time unemployment benefit applications, as well as October marking the eighth straight month increase to consumer personal spending.

The narrative for crude oil markets was one of growth through Thanksgiving, however black Friday brought with it bad news for black gold. WTI futures had gained 0.59% and Brent futures had climbed 1.06%, however Friday marked a single day loss of 5.06% for WTI crude and a one-day 2.54% drop for Brent. On the week, WTI lost 4.5% and Brent futures fell 1.51%. Gasoline and heating oil also went negative on the week, losing 4.62% and 2.62% respectively. Natural gas fell significantly, losing 14.41% on the week.

Precious metals were all over the board. Gold rose a measly 0.15%, while silver dipped 0.24%. Platinum made a small climb, up 0.49%, while palladium towered over the rest of the sector, gaining 3.92% on the week. Copper’s performance was muted, moving up just 0.11% on the week.

As millions of Americans stayed home to eat turkey, agricultural commodities were mixed. Thanksgiving tables seemed soy-free as the bean dropped 2.15% on the week. Dinner rolls appeared in generous portions, however, as Wheat futures gained 5.46%, while corn moved up just 0.68%. As the beverage woke up many a chef to prepare the holiday festivities, coffee futures gained 3.45% on the week. Sugar also posted gains, up 0.86%, while milk futures finished flat.

World Cup Trading Championships

Sadanand Kalasabail entered the last month of competition in the lead over the 2019 World Cup Championship field with a net return of 244.1%. Ryan Alderson held onto second place with a net return of 179.8%, followed by Durai Ramasamy’s 139.6% net return. Fabien Fischer finished in fourth with a 125.1% net return, as Eduardo Ramos returned to the top five to round out the leaderboard with his 119.6% net return.

Wayne Wan bested Jan Smolen to close the shortened week, finishing 5% ahead at 183.3% net return. Jan Smolen ended Friday with a net return of 178.3%. Archie Ma posted a 107.2% net return, good enough for third place, followed closely by Maxim Schulz’s 103.6% net return. Stefan Seibert finished the week in fifth place in the Global Cup via a 90.8% 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.

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Weekly Market Recap – December 6th, 2019

In the Markets

To start the week the S&P 500 was on a downward trend, losing 1.52% through Tuesday’s close. The rest of the week, however, the S&P 500 gained 1.7%, including a 0.91% gain on Friday thanks to a bullish November employment report. In total, the S&P 500 netted a 0.16% gain on the week, while the Dow Jones and NASDAQ both fell 0.1% on the week.

The November employment report, released on Friday, was chock-full of data that provided a boon to bullish investors. November saw an additional 266,000 nonfarm payroll positions added to the market, bringing 2019’s average to 180,000 per month. This held the unemployment rate at the 50 year low of 3.5%. Additionally, average hourly earnings in the private-sector rose by 7 cents to $23.83.

On December 5th and 6th, officials and representatives from OPEC , as well as other non-member nations, including a substantial Russian delegation, met in Vienna, Austria. After the two day summit, OPEC announced that it would raise its per-day output cut from 1.2 million barrels to 1.7 million barrels. Saudi Arabia’s Energy Minister added an additional cut of 400,000 barrels per day by the Saudis. The next meeting to review production levels is set for March 5th-6th of 2020.

The contraction on supply sent crude products on an upward trajectory, including WTI Crude gaining 7.3% on the week, and Brent adding 3.14%. Gasoline and heating oil fell more in line with Brent crude’s performance, gaining 3.16% and 3.9% respectively. Natural gas futures also posted modest gains, making a slight recovery attempt from the prior week’s double digit losses, gaining 2.32% on the week.

In the precious metals sector, palladium broke rank, gaining 2.15% on the week. Platinum, however, finished flat, down just 0.02%, while gold lost 0.52%, and silver slipped 2.98%. Copper managed to gain 2.37% on the week.

In agriculture, soybeans gained 1.42%, but corn lost 1.28% and wheat sunk 3.2% on the week. Coffee gained 4.34%, and that cup of joe was well sweetened with sugar gaining 1.85% on the week. Milk futures, however, dropped 3.98% on the week.

World Cup Trading Championships

With just three weeks of trading left in the 2019 competition, Sadanand Kalasabail remains in the lead, closing Friday with a net return of 247.9%. Ryan Alderson held onto second place, finishing the week at a 193.9% net return. Third and fourth place were separated by just 2.3%: Durai Ramasamy held onto third with a net return of 134.6%, but right on his heels was Fabien Fischer and his 132.3% net return. The top 5 was finished by Eduardo Ramos’s 114.1% net return.

In the Global Cup, as the competitors approach the halfway point, Jan Smolen vaulted into first place by ending Friday’s session at a 224.9%. Wayne Wan fell to second place, closing the week at a net return of 132.9%. Similarly to the World Cup, third and fourth place in the global cup sat on a razor thin margin. Maxim Schulz took third place this week at a 103.6% net return, followed by Archie Ma’s 102.1% net return. Stefan Seibert finished the week in 5th place with an 87.8% net return.

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Weekly Market Recap – December 13th, 2019

As 2019 comes to a close, Robbins Trading Company is excited to announce the 37th annual World Cup Trading Championships. The 2020 competition begins on January 1st, 2020 and runs through December 31st 2020.

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In the Markets

US equities again extended their run, reaching new highs last week as the three main sources of uncertainty all received updates. In trade, the US and China successfully reached phase one of their trade deal. This possible development had been revealed before, however it was uncertain if the two countries could strike an agreement before the New Year. Another source of uncertainty hung over the UK’s Brexit proceedings, which gained potential clarity after prime minister Boris Johnson’s party won the majority in the general elections, pointing to a more assured plan regarding Britain leaving the EU. Additionally, the Federal Reserve left interest rates unchanged, pointing to low inflation.

The long term effects of these developments remains to be seen, but on the week the three major indices posted gains. The Dow Jones gained 0.4%, the S&P 500 climbed 0.7%, and the NASDAQ rose 0.9%. The gains brought the Dow Jones to a 20.6% YTD return, the S&P 500 to a YTD return of 26.4%, and the NASDAQ to a 31.6% net return.

Crude oil products posted gains across the board. WTI and Brent crude futures rose 1.47% and 1.29%. Gasoline advanced at a slower rate, up 0.96%, while Heating Oil futures outperformed crude, gaining 1.76%. Natural gas fell on the week, slipping 1.63%.

Precious metals all posted gains on the week. Gold finished the week with the smallest gain of the sector, up 1.1%. The other big three players in the space, silver, palladium, and platinum, all exceeded a 2.5% gain on the week. Silver grew 2.51%, palladium gained 3.02%, and platinum climbed 3.64%. Copper also posted gains on the week, up 2.06% following phase one of the US-China trade deal.

Soybeans also received a boon, up 2.02%. Wheat also posted gains on the week, up 1.57%, while corn was left behind, finishing nearly flat as it lost just 0.07%. Coffee and sugar both advanced, up 4.64% and 2.43% respectively, but that coffee finished the week dairy-free as milk futures lost 0.77% on the week. Lean hogs also lost, down 1.05%.

World Cup Trading Championships

With just eleven and a half trading sessions left in the 2019 competition, Sadanand Kalasabail entered the final straightaway in the lead, closing Friday with a net return of 208.3%. He was not alone, however, as Ryan Alderson finished the week on his heels at a net return of 183.1%, separated by just 25.2% with a couple weeks of trading left. Durai Ramasamy held onto third place with a net return of 134.6%, followed closely by Fabien Fischer’s 132.1% net return. Eduardo Ramos rounded out the top five with a net return of 99.6%.

In the Global Cup, which approaches its halfway mark, Jan Smolen held his recently acquired lead for another week, ending Friday at a net return of 231%. Wayne Wan remained in second place at a 135% net return, followed by Maxim Schulz’s 107.8% net return. Archie Ma and Stefan Seibert finished in fourth and fifth place separated by less than a single percentage point, closing with net returns of 94% and 93.4% respectively.

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Weekly Market Recap – December 20th, 2019

As 2019 comes to a close, Robbins Trading Company is excited to announce the 37th annual World Cup Trading Championships. The 2020 competition begins on January 1st, 2020 and runs through December 31st 2020.

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Enter Now!

In the Markets

With just a week left in an already historic 2019, it appears Santa had one last gift for bullish investors this week as US equities achieved new milestones. The S&P 500 exceeded the 3200 mark with a gain of 1.7%, bringing the YTD gains to 28.5%. The Dow Jones also increased, up 1.2%, and the NASDAQ advanced 2.2%. The smaller Russell 2000 also performed strongly, up 2.1% on the week and 24% on the year.

All 11 S&P 500 sectors finished in the black, as the markets continued to coast off of the recent positive developments, with no significant negative developments cropping up leading into the shortened week. This growth came despite the US moving forward with Articles of Impeachment for President Trump. As the vote shifts to the House of Representatives, it remains to be seen what ripples the political event will cause in the markets.

Crude oil products all posted gains on the week, but it was gasoline that lead the sector with a 2.56% gain, followed by heating oil’s 1.78% gain. Brent futures climbed 1.41% on the week. WTI futures lagged behind, eking out a 0.62% gain. Natural gas rebounded from recent losses with a 1.39% gain on the week.

While everyone wishes for silver and gold, it was silver alone that posted positive results on the week, gaining 1.25% while gold fell 0.02%. Platinum and Palladium both also dropped on the week, losing 1.98% and 4.5% respectively. Possibly due to reverberating effects from the US-China phase one deal, copper gained an additional 0.9% on the week, marking its 5th straight week of gains.

Agricultural commodities posted gains across the board. Wheat rose 1.8%, soybeans advanced 2.32%, and corn skyrocketed by 5.87%. Coffee and sugar also posted gains, up 0.97% and 0.3% respectively, while milk fell 0.21%. Lean hogs posted double digit gains, adding 16.84%.

World Cup Trading Championships

Only a week left of trading remains in the 2019 World Cup Trading Championships. Sadanand Kalasabail held onto first place to close the penultimate week, finishing with a net return of 191.4%. Ryan Alderson closed again in second place with a 166.7% net return, followed by Durai Ramasamy’s 134.6% net return. Fabien Fischer closed the week in fourth place, but sat just 5.5% out of the top three with a net return of 129.1%. Sebastian Baumgaertel joined the leaderboard to close the week, claiming fifth with an 81.1% net return.

Jan Smolen closed Friday with a net return of 202.3%, good enough for first place in the Global Cup. Wayne Wan remained in second place at a 134.4% net return, followed by Maxim Schulz’s 108.5% net return. Archie Ma and Stefan Seibert again closed out the Global Cup top five, this time separated by 3.3%. Archie Ma took fourth at a net return of 94% followed by Stefan Seibert’s fifth-place 90.7% net return.

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Weekly Market Recap – December 27th, 2019

As 2019 comes to a close, Robbins Trading Company is excited to announce the 37th annual World Cup Trading Championships. The 2020 competition begins on January 1st, 2020 and runs through December 31st 2020.

bull and bear

Enter Now!

In the Markets

Some of the biggest news for US equity markets in the shortened week came on Monday when the Chinese Ministry of Commerce published a list of hundreds of products that will receive reduced tariff rates. The move was seen as an act of good faith in regards to recent progress in trade negotiations between the US and China. On the week, the Dow Jones advanced 0.7%, the S&P 500 climbed 0.6%, and the NASDAQ grew 0.9%.

With two trading days left in 2019, the YTD growth of the S&P 500 nears the decade high set in 2013 at 29.6%, as the YTD through Friday hit 29.2%. The Dow Jones YTD gains closed Friday at 22.8%, while the NASDAQ reached 35.7% YTD growth.

With lulls coming in many of the issues that effected global trade in 2019, including Brexit and Iranian and North Korean sanctions, bolstered by positive developments between the two economic superpowers (US and China), commodities experienced gains across the board. One of the exceptions came in Natural Gas, which fell 7.3% on the week. Crude oil products all experienced gains, however, with WTI crude up 2.12%, Brent futures gaining 3.05%, and gasoline and heating oil up 2.43% and 1.38% respectively.

Precious metals also posted gains on the week. Silver led the pack, up 4.17% on the week, followed by platinum’s 3.86% gain. Palladium finished the week up 2.9%, as gold gained 2.51%. Copper also advanced, albeit at a slower rate, up 0.82%.

Agricultural commodities also finished positive on the week, with the exception of lean hogs, which slipped just 0.13%, and milk futures which posted a 0.31% loss. Soybeans eked out a 0.19% gain, while corn finished up 0.58%, and wheat climbed 2.72%. Sugar finished flat, while coffee ended Friday up 1.38%.

World Cup Trading Championships

As the traders rounded the corner into the final two-day straight-away, Sadanand Kalasabail held onto pole position with a net return of 251.7%. Ryan Alderson finished the week in second place with a net return of 183.1%. Durai Ramasamy finished behind Ryan, closing Friday at a 134.5% net return. Fabien Fischer took fourth place with a net return of 121.1%, and Sebastian Baumgaertel rounded out the top five at a net return of 97.1%.

In the Global Cup, Jan Smolen, who holds the lead in the 2019 Forex event also, finished the week in first place with a net return of 205.3%. Wayne Wan closed the week in second place at a 134.3% net return followed by Maxim Schulz’s 112.6% net return. Stefan Seibert and Archie Ma ended Friday in fourth and fifth place respectively, separated by less than 3%. Stefan’s net return closed at 96.2% while Archie posted a net return of 93.9%.

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Weekly Market Recap – January 3rd, 2020

In the Markets

Marking the transition from 2019 to 2020, the week began with extended bullish sentiments in equity markets. Through Thursday’s close, the S&P 500 gained 0.55%, in part because of China’s announcement of plans to cut the reserve requirement ratio by 50 basis points on January 6th. Friday’s trade session, however, saw a single day loss of 0.71% in the S&P 500, leading to a net loss of 0.16%.

Friday’s losses were mostly due to a U.S. airstrike in Iraq that killed Iran’s General Qassem Soleimani. Iran quickly threatened retaliation, escalating already high tensions in the Middle East. On the week, the Dow Jones slipped 0.04%, the NASDAQ managed a 0.2% gain, while the Russell fell 0.5%. In addition to the situation between the U.S. and Iran, manufacturing data was down for December, with the ISM Manufacturing Index falling to its low since June 2009.

WTI Crude outperformed Brent futures, with the former gaining 2.15% while the latter advanced just 0.65%. Crude oil products gasoline and heating oil also differed greatly in their weekly performance, with gasoline moving up just 0.09% while heating oil grew 0.58%. Natural gas futures lost 1.3% on the week.

In precious metals, platinum and palladium paved the way, both exceeding 4% in growth on the week. Platinum gained 4.35% and palladium increased by 4.39%. While the other commodities in the sector posted muted gains by comparison, gold and silver still rose on the week. Gold climbed 2.26% while silver added 1.16%. Copper fell on the week, losing 1.48%.

Agricultural commodities’ performance for the week was mixed, varying from flat to substantial losses. Soybeans performed better than the rest of the sector, losing just 0.01%. Wheat fell 0.41% while corn dropped 0.9%. Lean hogs dropped 2.88%, while the futures market’s cup of morning posted losses. Sugar lost 1.7%, coffee dropped 4.64%, while milk plummeted 12.28%.

World Cup Trading Championships

Tuesday marked the last day of trading for the 2019 World Cup Trading Championships. The standings are pending a final audit, but as of Tuesday’s close Sadanand Kalasabail remained in first place at a net return of 266%, followed by Ryan Alderson’s second best 183.1% net return. Fabian Fischer climbed into third place with a net return of 140.7%, followed by Durai Ramasamy’s fourth place net return of 134.5%. Sebastian Baumgaertel rounded out the leaderboard with a net return of 97.1%.

As the 2019 competition concluded, the Global Cup Derivatives Trading Championship crossed its halfway point. Through Friday, Jan Smolen held onto his first place position with a 172.9% net return. Wayne Wan closed the week in second place with a net return of 128%, and it was Maxim Schulz’s 109.2% net return that took third place on the week. Archie Ma landed in fourth place at a 103.3% net return, followed by Stefan Seibert’s fifth-best 95.3% net return.

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Weekly Market Recap – January 10th, 2020

In the Markets

The first full trading week of 2020 saw U.S. equities beginning the decade reaching new all-time highs. The S&P 500 grew 0.9%, the Dow Jones Industrial Average gained 0.7%, while the NASDAQ led the way advancing 1.8%. These gains occurred in spite of the developments in the Middle East between the U.S. and Iran.

To begin the week, Iran fired more than a dozen missiles at US bases in Iraq. There were no American casualties. Additionally, a Boeing plane crashed shortly after takeoff in Tehran, which Iran acknowledged was mistakenly shot down. Finally, the December employment report was released, reporting 145,000 nonfarm payroll positions added in the final month of 2019, down from recent months.

Crude oil products rose to start the week following the Iranian strike on U.S. forces. The rest of the week however, saw petroleum products fall back down as the U.S. did not appear to begin any military action. On the week, WTI crude lost 6.36%, and Brent Crude fell 5.28%. Gasoline dropped 5.1% as heating oil lost 6.45%. Natural gas managed a turnaround, climbing 3.38%.

Precious metals did not move in unison. Gold managed a 0.5% increase, while both silver and platinum both posted marginal losses, down 0.25% and 0.43% respectively. Palladium broke from this trend of minor moves, gaining 5.94%.
Agricultural commodities also closed the week with radically different performances. Soybeans gained 1.75%, mirrored by wheat’s 1.64% gain, while corn dropped 0.19%. The market’s morning coffee was incredibly saccharine on the week, as coffee dropped 5.87% but sugar gained 5.71%. Milk also posted gains, up 0.59%, while lean hogs lost 1.9%.

Agricultural commodities also closed the week with radically different performances. Soybeans gained 1.75%, mirrored by wheat’s 1.64% gain, while corn dropped 0.19%. The market’s morning coffee was incredibly saccharine on the week, as coffee dropped 5.87% but sugar gained 5.71%. Milk also posted gains, up 0.59%, while lean hogs lost 1.9%.

World Cup Trading Championships

Jan Smolen finished the week in first place in the Global Cup again, closing with a net return of 162.2%. Fang Wang, from China, took second place with a net return of 129.9%, followed closely by Wayne Wan’s 126.4% net return. Maxim Schulz took fourth place at 109.2%, and Archie Ma rounded out the top five at a net return of 89.2%.

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Weekly Market Recap – January 17th, 2020

In the Markets

U.S. equity markets continued to soar on the back of positive earnings reports, economic data, and trade news, sending the major indices flying once again to new highs. The Dow Jones Industrial Average climbed 1.5%, the NASDAQ rose 2.3%, and the S&P 500 gained 2.0%. The positive performance spanned several groups, with six of the eleven S&P 500 sectors gaining at least 2.0% on the week. Additionally, Alphabet (GOOG) became the fourth U.S. company to reach a $1 trillion market-cap valuation.

Retail sales and housing starts had gains in December, while inflation remained muted. Additionally, the U.S. removed China from its currency manipulator list as part of phase one of the trade deal. China wasn’t the only nation receiving trade relations updates with the United States, as the Senate passed the USMCA (United States Mexico Canada Agreement).

Crude oil futures fell slightly on the week as WTI crude lost 0.85% and Brent futures lost 0.2%. Crude products fared slightly worse on the week, as gasoline lost 1.14% and heating oil fell 3.59%. Natural gas plummeted on the week, losing 9.04%.

Precious metals posted mixed results, with gold and silver finishing almost flat as platinum and palladium posted strong gains. Gold finished up just 0.01% while silver slipped 0.18%. Platinum gained 4.34% and palladium led the sector with an 8.53% gain. Copper also rose on the week, up 1.14%.

Despite the trade developments between the U.S. and China, soybeans, a major commodity between the two economic superpowers, fell 1.77%. Corn and wheat, however, both gained, up 0.91% and 1.18% respectively. Lean hogs also gained on the week, up 0.62%. Coffee fell significantly, losing 5.72%, while milk dipped 0.12%. The futures market’s latte ended the week extra sweet, as sugar gained 2.7%.

World Cup Trading Championships

Jan Smolen and Fang Wang closed Friday atop the Global Cup leaderboard, separated by just 0.2%. Jan Smolen clung to first place with a net return of 122.1%, followed by Fang Wang’s 121.9%. Third place’s Wayne Wan ended the week just another 5.1% behind Fang, with a net return of 116.8%. First and fourth place were only divided by 13.3%; Maxim Schulz took fourth with a net return of 108.8%. Archie Ma rounded out the top five with a net return of 87.2%.

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Weekly Market Recap – January 24th, 2020

In the Markets

With U.S. markets closed Monday in memory of civil rights leader Martin Luther King Jr., Equity indices came into the shortened trading week feeling under the weather as a new strain of the coronavirus originating in Wuhan, China spread to Seattle and Chicago, prompting fears of a potential outbreak. The Dow Jones industrial average fell 1.2%, while the S&P 500 dipped 1% and the NASDAQ lost 0.8%. The Russell 2000 fell farther than the three major indices, down 2.2% on the week.

U.S. equities were not the only asset class displaying bearish symptoms following the coronavirus discovery. Crude oil posted fairly significant losses, marking the third straight week of declines. WTI crude fell 7.43% while Brent futures faired only slightly better, losing 6.41%. Gasoline and heating oil performed similarly to crude, falling 7.64% and 6.73% respectively. Natural gas also posted substantial losses for the second week in a row, falling 5.49% and dipping below the $2.00/MMBtu (million British thermal units.)

Precious metals were a mixed bag. Gold and silver both posted minor gains on the week, up 0.74% and 0.22% respectively. Platinum fell, down 1.64%, while palladium gained 3.18% on the week. Copper dropped 5% in a single week for the first time since March 2019, falling 5.66% in correlation with the coronavirus scare in China, the world’s leading copper consumer.

Soybeans, another commodity which China leads in consumption, also dropped on the week, falling 2.92% while other moves in agricultural were more muted. Corn fell 0.51%, wheat inched up by 0.15% and lean hogs lost 0.66%. Coffee dropped 1.78%, while sugar decreased by 0.42% and milk rose 0.18%.

World Cup Trading Championships

Wayne Wan retook first place in the Global Cup on Friday, closing with a net return of 158.3%. Maxim Schulz claimed second place with a 108.8% net return, followed by Fang Wang’s third-best 89% net return. Jan Smolen remained on the leaderboard, finishing in fourth place with a net return of 87.2%, with Archie Ma rounding out the top five with a 77.7% net return.

The post Weekly Market Recap – January 24th, 2020 appeared first on World Cup Trading Championships.

Weekly Market Recap – January 31st, 2020

In the Markets

The outbreak of the coronavirus continued to be the main catalyst driving movement in both equities and commodities, as the pathogen brought with it another week of bearish performance. U.S. stocks posted their worst week since October 2019, with the NASDAQ losing 1.8%, the S&P 500 dropping 2.1%, and the Dow Jones sliding 2.5%. This last week of losses brought both the Dow Jones and the S&P 500 into the red for year to date performance, with the NASDAQ managing to cling to a 2% year to date growth.

News in equities was not purely negative, as Amazon reached a new high as it achieved the $1 trillion market cap, joining other tech stocks which posted gains on the back of positive earnings reports. Overall, however, the news of China quarantining 45 million citizens, combined with the World Health Organization’s declaration of a public-health emergency, sent the majority of equities and commodity futures on the decline.

Gold was one of few examples to escape the week with gains, up 0.7%, while the rest of the precious metal sector posted losses. Silver limped through Friday with just a 0.56% descent, while platinum dropped 4.71% and palladium lost 4.51%. Copper fared even worse on the week, losing 6.22%.

Energy futures also fell across the board, with WTI and Brent crude losing 4.85% and 4.17% respectively. Gasoline made it through the week dropping just 1.75%, while heating oil plummeted 6.31%. Natural gas also continued its descent, falling another 2.75% on the week.

Soybeans and wheat moved similarly on the week, with soybeans losing 3.27% and wheat dropping 3.21%. Corn performed slightly better, with futures losing just 1.55%. Sugar joined gold as one of the few commodities making it through the week with gains, up 1.53%, while milk finished flat and coffee lost 6.8%. Lean hogs, a commodity which had exploded in price in 2019 due to a swine pathogen outbreak in China, fell 15% on the week due in part to the recent human pathogen outbreak in China.

World Cup Trading Championships

A month into the 2020 competition, the standings for the World Cup Championship of Futures Trading were unveiled this week. As of the end of January, first place lay in the hands Michael Vontobel of Tirutrade AG, a firm out of Switzerland, with a net return of 65.5%. Behrad Gavadji of Germany ended the first month of trading in second place with a net return of 52.4%, followed by Luxembourg’s Fabien Fischer and his net return of 40%. David DeNiro of the U.S. secured fourth place with a net return of 35.2%, followed closely by Taiwan’s Hao-Ming Lien fifth-best 34.6% net return.

In the Global Cup, Wayne Wan returned above the 200% mark, retaining first place with his 206.5% net return. Maxim Schulz claimed second place with a net return of 108.7%, followed by Jan Smolen’s 93.8% net return. Archie Ma took fourth place with a 74.6% net return, as the top five was finished by Michael Cook and his 62.9% net return.

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Weekly Market Recap – February 7, 2020

In the Markets

The bearish trend experienced by US equity markets in recent weeks was a short lived one, as the major indices soared on positive news. The Dow Jones grew by 3%, the S&P 500 gained 3.2%, and the NASDAQ climbed 4%. Positive sentiment came in many forms, including a more measured view of the coronavirus’s economic fallout. The belief of the virus’s minimal impact developed due to vaccine progress, Chinese economic actions, and positive U.S. economic data.

The U.S. January employment report was again a variable in this aforementioned economic data, with 225,000 non-farm payroll positions estimated in the first month of the new decade. Additionally, the January ISM Manufacturing Index broke a five month streak of contraction, joining the ISM Non-Manufacturing Index which expanded for the second straight month. Jobless claims also fell to a nine-month low.

The positive sentiment did not extend to crude oil, as both WTI and Brent futures fell again. WTI fared better, down just 2.4%, while Brent futures lost 6.34%. Gasoline and heating oil, which usually move in tandem, broke form to post gains on the week. Gasoline advanced 2.36% and heating oil climbed 1.16%. Natural gas also managed a positive performance, up 0.92% on the week.

Precious metals were likewise mixed. Gold and silver fell, down 0.9% and 1.78% respectively, while platinum grew 0.78%. Palladium moved down slightly, losing 0.21%. Copper received a potential boon from positive developments in China and the U.S., gaining 1.43%.

Soybeans, another important commodity in U.S.-China trade, also grew by 1.15%. Corn and wheat joined with 0.59% and 1.04% gains respectively. The future market’s cup of coffee increased in sweetness dramatically, as sugar gained 2.12% but coffee dipped 4.19%. Milk was almost flat, up 0.12%. Lean hogs also finished flat, moving down just 0.04%.

World Cup Trading Championships

Jeffrey Ruff jumped into the top five, staking his claim to first place with a 64.3% net return through Friday’s close. Fabien Fischer climbed into second place with a 45.5% net return. Behrad Gavadji finished in third with a 43.4% net return. Sze King Chong of Singapore was another new face to the 2020 WCTC leaderboard, taking fourth place with a 41.2% net return. Michael Vontobel of Tirutrade AG rounded out the leaderboard with a net return of 36.3%

In the Global Cup, Wayne Wan kept first place with a net return of 156.7% as Jan Smolen climbed into second place with a 101.8% net return. Archie Ma took third place at a net return of 72.4%, followed by Marko Grcic’s 51.7% net return. Stefan Seibert finished right on Marko’s heels, closing Friday with a net return of 50.5%.

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Weekly Market Recap – February 14, 2020

In the Markets

US equities continued to shrug off symptoms of the Coronavirus outbreak in China. The major indices strung together their second straight week of gains, with the tech heavy NASDAQ leading the charge via a 2.2% increase. The S&P 500 gained 1.6% while the Dow Jones Industrial Average advanced 1%. Valentine’s Day brought the S&P 500 to a new closing high of 3,380.16 leading into the US’s 3-day weekend.

After five straight weeks of losses, crude oil finally rebounded, despite achieving a record production level of 13 million barrels per day. Optimism surrounding an expected OPEC production cut potentially contributed to WTI crude futures’ gain of 3.44% and Brent’s 5.23% gain. Gasoline and heating oil futures also increased, up 3.9% and 3.34% respectively. Natural gas broke from the rest of the energy sector, falling 1.13% on the week.

Gold, silver, and platinum all posted minimal moves on the week, failing to move a percentage point in any direction. Gold futures moved up 0.9%, while silver rose 0.24% and platinum fell 0.28%. Copper’s gains were more substantial, up 1.8% amidst coronavirus fears, while palladium vaulted above $2300/t oz with a 5.54% gain.

Soybean futures gained 1.16% on the week, while corn and wheat both fell, down 1.5% and 2.6% respectively. Coffee advanced 10.93%, while sugar finished with just a 0.94% gain, and milk futures fell 0.41%. Lean hogs dropped an additional 2.1% on the week.

World Cup Trading Championships

Jeffrey Ruff held onto the lead position in the 2020 World Cup Trading Championships, finishing Friday with a net return of 60.8%. Fabien Fischer also maintained second place on the week, with a net return of 50.9%, but third place went to a new face: Andrei Balanescu and his 47.2% net return. Just 2% behind Andrei was Allen Swiontek and his 45.2% net return. The entire leaderboard finished within 16.3% of one another, as Kevin McCormick rounded out the top five at 44.5%, less than a single percentage point behind Allen.

In the Global Cup, Maxim Schulz, who was absent from the leaderboard just a week prior, vaulted back into the top five to secure first place behind a 108.7% net return. Wayne Wan managed to keep second place at a 103.6% net return, followed by Jan Smolen’s 74.3% net return. Archie Ma finished just 1.1% behind Smolen to take fourth place with a net return of 73.2%, while Stefan Seibert took fifth place with a 57.1% net return.

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Weekly Market Recap – February 21, 2020

In the Markets

Equities began the shortened holiday week by reaching new highs, with the S&P 500 closing Wednesday up 0.18% to start the week, reaching $3,386.15. The rest of the week saw the coronavirus bring markets back down to earth, as the S&P 500 lost 1.43% in the Thursday and Friday sessions on its way to a net loss of 1.25% on the week. The Dow Jones Industrial Average also fell on the week, down 1.4%, while the NASDAQ netted the largest loss of the three major indices, falling 1.6% on the week.

A primary catalyst for the move was when Apple warned of potential revenue dips in March due in part to temporary retail store closures in China in response to the outbreak. The fears amid the coronavirus returned as the market took a more defensive approach.

Crude oil managed a second week in a row of gains, with WTI futures up 2.56%, and Brent futures climbed 2.06%. Gasoline outperformed both crude commodities, gaining 4.25%, while heating oil broke rank on its way to a 0.68% loss. Natural gas had its first week exceeding 3% growth since January as it climbed 3.7% on the week.

As equities fell on the week, precious metals collectively moved forward. Palladium led the charge, surging 11.94% on the week. Silver gained 4.49%, gold climbed 3.91%, while platinum lagged behind with just a 0.97% gain. Copper also managed minor gains, up 0.35%.

Soybeans slipped on the week, falling 0.57%. Corn also fell, albeit at a slower pace, losing just 0.2% on the week. Wheat managed a 1.31% gain, while Lean hogs gained an astounding 19.91%. Coffee fell 0.23%, milk up just 0.12%, while sugar added 3.52%.

World Cup Trading Championships

The first big move of the 2020 World Cup Trading Championships® was made this week, as Ari Masters of Australia threw down the gauntlet by reaching a 365.2% net return through Friday’s close, awaiting the response from the rest of the field. Fabien Fischer finished in second with a net return of 56.8%. Third through Fifth place were separated by just 2.5%, with Raul Andreas Glavan claiming third at a net return of 48.5%, Behrad Gavadji in fourth place at a net return of 46.3%, and Jeffrey Ruff in fifth place at a 46% net return.

Wayne Wan retook first place in the Global Cup, closing Friday with a 161.4% net return, while last week’s leader Maxim Schulz stayed in second place with a net return of 118%. Jan Smolen finished the week with a net return of 93.4% to retain third place. Archie Ma finished in fourth with a net return of 79.5%, while the top five was rounded out by Stefan Seibert and a 61.1% net return.

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Weekly Market Recap – February 14, 2020

In the Markets

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Weekly Market Recap – February 21, 2020

In the Markets

World Cup Trading Championships

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Weekly Market Recap – February 28, 2020

In the Markets

While markets had managed to shrug off symptoms of the coronavirus for the most part, the last week of February saw the outbreak bring both equities and commodities to their knees. The rate of new cases may have slowed in China, but reports of the virus’s spread outside of the country prompted the worst equity performance since 2008. Additionally, the CBOE Volatility Index spiked to its highest level since February 2018.

The Dow Jones Industrial Average fell 12.4% on the week, while the S&P 500 dropped 11.5% and the NASDAQ lost 10.5%. The Russell 2000 also plummeted 12%, as all four indices erased their 2020 year to date gains. The Dow Jones finished February down 11% in 2020, while the NASDAQ closed with a net loss of 4.5%, and the S&P ended Friday down 8.6% in 2020. The Russell 2000 has posted an 11.5% year to date loss.

Crude oil futures also dove into the red: brent crude lost 13.64% on the week, while WTI saw a 16.15% drop. Gasoline also dropped 15.46%, as heating oil and natural gas both fell 11.62% on the week.

Precious metals also fell on the week. Platinum and silver led the way as they both joined the double-digit loss club. Platinum lost 11.3%, and silver fell 11.57%. Gold fell 4.74%, palladium dropped 4.36%. Copper managed to slip just 2.38% during the tumultuous week.

There were a couple exceptions to the weeks myriad of losses, as both soybean and coffee futures posted gains in an otherwise bleak week. Soybeans climbed 0.6% and coffee added 1.15%. The other agricultural commodities did not join them, however, as corn lost 2.79% and wheat lost 4.8%. Looking to sugar for news of something sweet yielded more bad news, as the commodity fell 7.25%, mirrored by lean hogs’ loss of 7.1%. Milk also fell on the week, but only just slightly, losing 0.18%.

World Cup Trading Championships

As market volatility has been on the rise, so too has the trading of recent World Cup Trading Championship® frontrunner Ari Masters, who ended the first two months of the 2020 competition with an astounding 1419.1% net return. Michael O’Keeffe finished in second with a return of 272%, followed by Evgeny Kartashov and a 127.4% net return. Fourth place went to Allen Swiontek at a 105.9% net return, and the top five was rounded out by Jeffrey Ruff at a 88.3% net return.

In the Global Cup, Wayne Wan took first place with a 190.3% net return. Maxim Schulz finished in second at a 120.6% net return, followed by Michael Cook’s 80.5% net return. Jan Smolen claimed fourth place at a 70.6% net return, but Stefan Seibert was right on his heels with a 65% net return, separated by just 5.6%.

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Weekly Market Recap – March 6, 2020

In the Markets

Volatility remained high again this week as tensions surrounding the spreading coronavirus continued to rock the world. During the week’s sessions, the S&P 500 moved within a 235-point range. Despite the numerous factors applying pressure to global markets, major U.S. indices managed gains on the week. The NASDAQ posted the smallest advance, moving just 0.1%, while the S&P 500 netted 0.6% on the week, and the Dow Jones recovered 1.8% on the week. While the three major indices rose on the week, the Russell 2000 slipped an additional 1.8% on the week, bringing its YTD 2020 return to -13.1%.

Officials did not sit idly by as coronavirus fears weighed on investor sentiment, as the Federal Reserve decided on an emergency 50 basis point cut to interest rates on Tuesday. Additionally, the U.S. Congress approved $8.5 billion in emergency spending to handle the outbreak. Developments in the United States’ Presidential election, including Joe Biden taking the lead from Bernie Sanders in the Democratic primary, provided another potential factor on market volatility.

While equities managed a minor recovery, crude oil markets steepened their dive. To end the week, members of OPEC met in Vienna, Austria, with onlookers expecting the international cartel to reach an agreement on production cuts. However, the meeting ended Friday with Saudi Arabia and OPEC-Ally Russia failing to reach an agreement on the magnitude of the cuts, with the Saudis pushing for a cut of 1.5 million barrels per day while the Russians did not want to breach 500,000.

The result was Saudi officials announcing plans to slash their prices and ramp up production, sparking worries of a Russian-Saudi Arabian price war. On the week, WTI crude futures fell 7.77% and Brent Futures fell 10.39%. Gasoline escaped the week falling just 0.47%, while heating oil dropped 7.07%. Natural Gas rebounded 1.42% on the week.

While stock and oil markets plummeted, precious metals gained on the tumultuous week, with the exception of palladium and its 1.51% fall. Gold climbed 6.75%, silver advanced 5.05%, and platinum rose 4.39%. Copper also gained on the week, up 1.06%.

Agricultural commodities were mixed; soybeans lost 0.35%, wheat dropped 2.24%, while corn gained 2.93%. Lean hogs gained 5.86%, while the futures market’s latte fell across the board, with coffee losing 4.09%, sugar losing 9.96%, and milk futures falling 3.59%.

World Cup Trading Championships

Ari Masters continued his dominance in the World Cup Trading Championships®, closing another week atop the leaderboard, this time closing with a net return of 2,177.9%. Michael O’Keeffe finished in second place, closing the week with a net return of 309.1%. Artur Teregulov broke into the top five with a net return of 156.1%, followed by Allen Swiontek and his 144% net return. Evgeny Kartashov rounded out the top five at a 130.6% net return.

Wayne Wan continued his lead of the Global Cup with a net return of 189.7%. Stefan Seibert finished in second place with a net return of 141.1%, followed by Michael Cook’s 131.1% net return. Fourth place went to Maxim Schulz thanks to a 120.6% net return, while Robert Miner claimed fifth place with a 92.2% net return.

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Weekly Market Recap – March 13, 2020

In the Markets

Last week, the Dow Jones Industrial Average closed down 10.4% from where it had settled the previous Friday. Compared to its high water mark a month ago (29,551 on February 12th) the DJIA had retreated 21.5%. For investors aware of textbook definitions, a decline of more than 20% can be construed as bear market territory.

The weekly changes for the other stock indices were comparable: S&P 500 -8.8%, NASDAQ -8.2% and the Russell 2000 -16.7%. Regarding how the other benchmarks fared this past Friday as per the arbitrary 20 percent guideline: the S&P 500 settled 19.9% below its 2/19/20 high of 3386, the NASDAQ settled 19.8% below its 2/19/20 high of 9817 and the Russell 2000, which hit its all-time 136.11 high on 1/16/20, had moved 29.0% lower.
Regardless of descriptions given to trending markets, the magnitude and volatility of the reverse in direction require management. Traditionally, in times of increased stress, regulators and central banks deploy intervention strategies in currencies and interest rates. This event, however, is not traditional. The catalyst of this volatility is Covid-19, a global health issue.

Uncertainty in markets is sometimes addressed with flight-to-safety investment choices. In a bygone era, municipal bonds were the choice for “widows and orphans” and investors seeking the high ground. A perennial standard solution for uncertain times has always been gold, deemed as portable wealth in wartime or during social unrest. Although, last week the yellow metal was 9.3% down from the prior week, and silver lost 14.9%. Not only did the gold price decline as a result of central bank selling, professional bullion investors sold precious metal holdings to help offset losses in equities, as well. This unloading led to margin call selling by the non-professionals. Platinum was off 17.0% on the week, and palladium’s bubble seems to be deflating, as the futures fell $400 per ounce from Thursday to Friday, losing 38.1% for the week. Copper’s behavior has been anomalous. Often considered a barometer of economic health, copper is not in a nosedive. It is more than 100% higher in price than it was during the Great Recession.

We are not used to the combined repercussions from a declared state of national emergency, supply chain issues, school closings and suspensions of entertainment and sporting events. With the world already focused on the health crisis and on recession talk, last week saw the opening of another arena: Russia and Saudi Arabia sent the oil markets lower as their production squabble evolved into an economic war. Crude gapped down $10 on Monday’s opening, ending the day with WTI $9 lower and Brent losing $6. By Friday’s end, the losses were 23.1% and 25.2%, respectively, for the week. Products followed as heating oil dropped 17.9% and gasoline declined 35.3%, making it one of the few consumer-friendly price moves on the screen. Natural gas, however, proved to be the sleeper in the hydrocarbon sector with spot rising 9.4% for the week.

The agricultural commodities continue weakening, with soybeans -4.8% and corn -2.7%. Coffee has been in a fundamental bear market since January due to favorable growing conditions in Brazil, and the selling pressure on the Real. Coffee futures ended the week off only 0.6%, sugar dropped 10.1%, hogs fell to a new low, closing the week down 14.5% and milk lost only 0.8%.

World Cup Trading Championships

A. Masters and Michael O’Keeffe, both from Australia, separated from the World Cup Trading Championship pack, with Masters closing at a 2,750.8% and O’Keeffe ending the week in second place with a 943.8%. Yuwen Cao climbed into third place behind a 129.2% net eturn, followed by Allen Swiontek’s 113.6% fourth-best net return. Kirill Morozov claimed fifth on the week with a 108.5% as the entire leaderboard reached triple-digits.

In the Global Cup, Michael Cook retook first place with a 178.1% net return. Stefan Seibert closed Friday in second with a net return of 161.1%, followed by Wayne Wan’s 142.5% net return. Robert Miner sat in fourth with a 92.2% net return, as Maxim Schulz closed out the leaderboard with a 90.6% net return.

In the Forex division of the World Cup Trading Championships, Nicholas Ridley finished in first place at a net return of 126.3%, followed by Miguel Garcia’s 89.5%. Andreas Plagge took third with a 46.1% net return. Fourth and fifth places were separated by just 4% as Scott Welsh bested Artur Teregulov with net returns of 33.5% to 29.5%.

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Weekly Market Recap – March 20, 2020

In the Markets

Last Sunday’s rate cutting action by the Fed to “nearly zero” percent preceded a sharp drop in stock futures that evening. By the end of Monday’s session, the DJIA spot index settled 2,997.10 points lower. The decline of 12.9% was the steepest daily drop since October 19, 1987. At the close on March 20th, the index had lost a total of 4,011.64 points, down 17.3% for the week. The June Dow futures mini contract’s weekly decline was 16.6%.

In other US stock benchmarks, negative price movement persisted. The S&P 500 fell by 15.0% and the Russell 2000 lost 15.7%. Of the indices we cite in these recap reports, the NASDAQ Composite fared a bit better than the others: it lost only 12.6%, which some analysts attributed to strength in the tech sector on Thursday.

The volatility that began the week had waned by Friday’s close, as measured by the CBOE Volatility Index. The VIX had closed on Monday at 83.56 (a 12 year high). The index eased to the Friday close of 66.04, which was only 14.2% higher than its March 13th close of 57.83.

The news throughout the week addressed a $50 billion aid package requested by the airlines, a new lending facility announced by the Fed to backstop the money market mutual fund sector, and a stimulus package that the executive and legislative branches are negotiating intended to inject over $1 trillion into the economy.

As the US Coronavirus metrics keep rising, with more people testing positive and the death toll increasing, an expected economic repercussion is a surge in unemployment claims.

In commodity markets, there were also some noteworthy records. Precious metals mostly continued to decline, with April gold falling $32.10 to $1,484.60 (-2.1% on the week), May silver dropped $2.30 to $12.385 (-15.7%), April platinum moved $121.40 lower to $622.50 (-16.3%) and June palladium firmed by $31.10 to $1.540.20 (+2.1%). The historic move of the ratio of gold to silver (GSR) to a level of 123.78 took place on Monday, March 16th. For the past 5 years, the ratio has been trading between 65 and 85. The fact that gold fell considerably less than silver is the key to the record move. The relationship between the values of the two metals is “perhaps the longest-running price series in financial history” according to Marshall Gittler, economist at BDSwiss Group. The previous record high for the GSR was 100:1 in 1940. The US government, in the Mint Act of 1792, had set the ratio at 15:1.

Another conspicuous milestone last week took place in the energy sector. When market participants learned that the Trump administration was addressing both sides of the oil price war between Russia and Saudi Arabia, the price of crude moved sharply higher. Thursday’s jump was the largest single day percentage increase in CME crude futures since the contracts were launched in 1983. That distinction had little impact on the overall picture, since the rally was followed by a selloff that sent April crude oil to $22.43 per barrel at Friday’s close (-29.3% for the week). Brent crude lost $6.87 for the week (-20.3%). Heating oil closed at $1.0063 (-11.5%) and gasoline settled at $0.6054 (-32.7%). In some states, drivers are starting to see gas pump prices below $2/gallon. Natural gas lost 14.2% for the week, closing at $1.604 in the April futures.

The grains and oilseeds were mixed. Last week started with selloffs on Monday but showed firming at Friday’s close. May corn eased 22¢ per bushel (-6.0%), May soybeans rose 13.75¢ (+1.6%) and May wheat rallied 6.6%, settling at $5.3925 up 33.25¢. An important planted acreage release is due at the end of March as we move towards the spring weather outlook. For the Ag hedgers, this USDA report can be a key driver in corn and wheat trends. Coffee has finally bounced out of its bearish doldrums as May futures rallied last week to 119.70 (+12.1%). Cocoa continued its pattern of a new downtrend, as the May contract tested the lows from last summer at the 2200 level. For the week, cocoa was down 195, closing at 2230 (-8.0%), despite continued concerns about dry weather in the West African growing areas.

World Cup Trading Championships®

A. Masters, Michael O’Keeffe, and Yuwen Cao maintained their positions in the top three with net returns of 2,872.3%, 936.3%, and 232.2% respectively. Orhan Özcan moved into 4th place with a respectable net return of 166.2%, followed closely by Allen Swiontek’s 164.4% net return.

In the Global Cup, Michael Cook held first place with a 171.5% net return, with Wayne Wan moving to 2nd place at 143.5%. Stefan Seibert moved to 3rd with a net return of 138.9%, followed by Maxim Schulz at 132.9% and Jan Smolen 62.1% respectively.

In the Forex division of the World Cup Trading Championships®, Nicholas Ridley finished the week in first place with a net return of 126.3%, followed by Miguel Garcia at 82%. Andreas Plagge held onto third with a 61.7% net return. Fourth and fifth places were taken by Chien-Hung Chen at 50.3% and Wenchen Zhang at 40.5%.

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Weekly Market Recap – March 27, 2020

In the Markets

As the pandemic and the economy again dominated the headlines, the markets appeared less erratic and volatile than they had been since March roared in.

The DJIA spot index ended the week at 21,637, gaining 12.8%, and the S&P 500 closed on Friday at 236.55, a 10.3% rise. The NASDAQ Composite added 9.1% from the previous week climbing to 7502, while the Russell 2000 registered a final level at 90.71, up 11.4% for the week. Confirming that the volatility was cooling somewhat, CBOE’s VIX was slightly down, for a change, to 65.54, off only 0.8%.

Pricewise in the markets, no notable record levels were reached, nor were there any record moves in points or percentages. However, there were a couple of historic financial news items that drew attention. Thursday’s unemployment number showed that the United States Department of Labor had received 3.28 million applications for jobless benefits. The department has been tracking claims since 1967, and this week’s jobless stat didn’t merely pierce the old high, it quadrupled the past peak of 695,000 from October 1982. The all time record low was 162,000 claims in November 1968.

The back-and-forth, as Congress worked out the relief legislation, shifted the stock market into neutral gear for a few days. The stimulus passed in the Senate on Wednesday. At Thursday’s close, the DJIA had booked three straight up days in the week, prompting a Wall Street Journal headline: “Was that the shortest bear market ever, or a bull trap?“ On Friday afternoon, after the House signed the $2.2 trillion coronovirus cash infusion, another record was established: the largest government rescue package in US history.

It seems that the only trend in the news that is not pausing or correcting is the spreading coronavirus. Those statistics are still on an up-curve. On Thursday, the number of confirmed cases in the US surpassed those in Italy and China. The corollary metrics are the rising mortality figures and the dwindling reserves of certain medical supplies and equipment. The pandemic’s impact on commercial logistics has begun to complicate the transportation of physical goods, including the basic commodities traded on exchanges. Hence, the slower movement of both raw materials and finished goods is trickling into the equation of supply vs. demand. In commodity markets, the anecdotes range from gold investors not receiving their bullion deliveries on time, to slower shipping of global crop exports from various origins.

Precious metals rallied during the week, with gold futures rising $140, the April contract gaining 9.5% vs. May silver’s 17.5% increase as it rose by $2.15 per troy ounce. The April platinum moved up by $118 or 18.9%, and palladium, which had dropped 38.1% two weeks ago, soared 42.6% last week, ending $656 per ounce higher. Base metals were more stable, as copper futures had a 0% change and aluminum declined 3.6%.

Energy futures had less volatility with mixed directional results. WTI crude eased 4.9% and Brent crude dropped 7.6%. In refined products, heating oil firmed 6.2%, while RBOB gasoline settled 5.2% lower for the week. Henry Hub natural gas contracts for April managed to rise a minimal 1.9%.

In the agricultural markets, soybeans and corn rose 2.2% and 0.7%, respectively, while Chicago wheat for May delivery rallied 32 cents per bushel, a 5.9% increase. Coffee slipped 3.2%; cocoa gained 1.2% and sugar rose 1.7%. Rounding it out with livestock, cattle futures rose 2.3% and hogs eased 5.1%

World Cup Trading Championships®

A. Masters maintains the lead with a 1,351.2% net return, though the competition has closed in, with Michael O’Keeffe at a 910.9% net return. Yuwen Cao has some ground to gain to catch up, with a respectable 219.2% net return. Allen Swiontek and Hao-Ming Lien are holding strong on the leaderboard with net returns of 180.9% and 168.5% respectively.

In the Global Cup, Michael Cook held first place for yet another week with a 202.3% net return. Stefan Seibert regained 2nd with a net return of 177.8%, pushing Wayne Wan back to 3rd with a 138.9% net return. Following are Maxim Schulz at 132.8% net and Robert Miner at 123.8% net respectively.

In the Forex division of the World Cup Trading Championships®, Nicholas Ridley finished the week in first place with a net return of 126.3%, followed by Miguel Garcia at 84.3%. Andreas Plagge held onto third with a 66.5% net return. Fourth and fifth places were taken by Chien-Hung Chen at 53.6% and Wenchen Zhang at 41.5%.

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