Weekly Market Recap – May 14, 2021

The number of Americans seeking unemployment benefits dropped again: 473,000 initial jobless claims were filed, compared with 507,000 the previous week. The federal budget for April showed a $226 billion deficit vs. $738 billion in March. Other economic statistics, compared with their prior level were as follows: April retail sales had 0.0% change (vs. +10.7% in March), industrial production +0.7% (vs. +2.4%), capacity utilization is at 74.9% (vs. 74.4%), March business inventories were +0.3% (vs. +0.6% in February). However, the headline stats were the two major price indices that carried inflationary implications. Producer prices were up 1.0% vs. the prior month’s 0.5% increase. That rise was twice the level that Wall Street economists expected. Consumer prices jumped 0.8% for April, the highest monthly jump in over a decade.

Coinciding with the abovementioned inflation pressures, stock market indices took a breather from their month-long rallies, easing a few percentage points. For the week, the DJIA slipped 1.1% to 34,382.13, the S&P 500 decreased 1.4% to 4,173.85, and the NASDAQ Composite went out at 13,429.98 with its 2.3% slide. Volatility returned to the exchanges and nudged CBOE’s VIX to pop up 12.7%, ending at 18.81 on Friday. The U.S. Dollar Index was stable, closing the week at 90.30 (+0.1%). The portfolio of commodities in S&P’s GSCI had the first down week in over a month, dropping 1.5% with a 514.99 final print.

Five of the six metal futures we focus on in our recap moved lower. Only gold crept into the plus column by 0.4% for the week, with its $1,838.10 settlement. The weaker contracts in the group closed as follows: silver at $27.365 (-0.4%), platinum at $1,222.80 (-2.5%), palladium at $2,894.60 (-1.0%), copper at $4.6545 (-2.0%) and aluminum at $2,463.00 (-3.0%).

Energy futures held their ground, but barely so: NYMEX WTI added 0.7% to $65.37 per barrel. Likewise, Brent crude increased 0.6%, ending at $68.71 on Friday. U.S. refined products corrected from Monday’s panic spike (in response to the Colonial pipeline hack), as heating oil ended 1.3% higher, closing the week at $2.0362, and RBOB gasoline had a 0.0% change, settling at $2.1266 per gallon. Natural gas inched higher, firming by 0.1%, taking the June futures to $2.961 per mmBtu.

Of the nine agricultural markets that we review, eight of the products were in the red for the week. In percentage terms, corn fared the worst: the July contract plunged 12.1% with an 88½¢ crash to $6.43¾ per bushel. Wheat gave back 54½ ¢ (-7.2%) to its $7.07¼ settlement, and soybeans closed at $15.86½ (-0.2%). Coffee pulled back 5.2%, with the July ICE futures ending the week at $1.45 per pound. Sugar lost 3.0%, settling at 16.96¢/lb. Cotton took an 8.1% hit: as the July contract closed at 82.43¢ per pound. In the livestock markets, hogs fell to 108.725 (-3.7%), while cattle futures shaved off 0.6%, and closed with a price of 115.300 at week’s end. Cocoa was the gainer, but only by eleven ticks (+0.4%) to $2,474 per metric ton.

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – May 14, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – May 14, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 14, 2021

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – May 14, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – May 21, 2021

Weekly initial jobless claims sank to the lowest level since March 21, 2020, when 2.9 million first-time filings were tallied. Thursday’s report was 444,000 claims filed. Other key statistics, compared with their prior levels, were as follows: housing starts for April were 1.57 million (vs. 1.73 million), April’s existing-home sales figure was 5.85 million (vs. 6.01 million), April building permits were unchanged at 1.76 million. The index of leading economic indicators rose 1.6% in April, following a 1.3% rise in March.

Nearly half of all Americans have received at least one coronavirus vaccine shot. Cases and deaths in the U.S. have dropped to the lowest level in a year; nationwide, the positivity rate is below 3% for the first time since testing became widespread. Israel and Hamas agreed to a ceasefire.

Stock market indices were marginally mixed for the week. The NASDAQ Composite moved 0.3% higher to 13,470.99 at Friday’s close. The S&P 500 eased to 4,155.86 (-0.4%), and the DJI slipped to 34,207.84 (-0.5%). CBOE’s VIX showed a 7.1% jump to 20.15, its first close over 20 in nine weeks. In currencies, the U.S. Dollar Index ebbed slightly, decreasing 0.3% to reach 90.02 at the week’s end. In general, commodities took a breather, evidenced by the S&P GSCI, whose basket of futures closed at 506.40 (-1.7%).

The metals futures we track diverged somewhat, as gold and silver advanced, and the other four contracts retreated. Settlement prices and percentage changes from the previous Friday ended as follows: gold at $1,876.70 (+2.1%), silver at $27.486 (+0.4%), platinum at $1,169.40 (-4.4%), palladium at $2,775.00 (-4.1%), copper at $4.4810 (-3.7%), and aluminum at $2,370.00 (-3.8%).

On the energy futures charts, the uptrend is flattening in the petroleum sector. For the week, NYMEX WTI took a dive to $62.05 per barrel, down 5.1%. ICE Brent fell to $66.44 (-3.3%). Percentage-wise, U.S. refined products weakened a lesser degree than crude: heating oil faded 2.4%, closing the week at $1.9882, and RBOB gasoline shaved off 2.7% to $2.0685 per gallon. Natural gas, reacting to a bearish storage report on Thursday, moved down 1.9% for the week, ending at $2.906 per mmBtu.

Among the nine agricultural products featured here, gainers edged out losers (5 to 4). Soybeans closed at $15.25¼ (-3.8%), corn gained 2.4%, ending the week at $6.59½, while wheat settled at $6.74¼ (-4.7%). Coffee perked up; the July contract popped to 150.10 (+3.5%). Cocoa prices slipped (-0.7%), ending at $2,456 per metric ton. Sugar’s path was downward, with July futures settling at 16.67¢ per pound (-1.7%). Cotton prices held their ground (+0.5%), as the front month’s final price for the week was 82.82¢ per pound. Livestock futures prices strengthened. Cattle rose to 117.675 (+2.1%), while hogs won the blue ribbon for the Ag category, scoring +5.1% in the contract for June delivery, and closing at 114.225 on Friday.

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – May 26, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – May 26, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 26, 2021

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – May 21, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – May 28, 2021

Initial jobless claims fell to 406,000 vs. the previous week’s 444,000. Other economic statistics, compared to their prior levels, were as follows: the consumer confidence index was 117.2 vs. 117.5, and durable goods orders for April were down 1.3%, reversing the 1.3% rise in March. Personal income for April dropped 13.1%, which was a setback, compared with the 20.9% improvement in March. Consumer spending rose 0.5% vs. the prior month’s increase of 4.7%. New home sales were 863,000 in April, down from the March figure that was 917,000. The Case-Shiller national home price index, which reflects a 12-month change, rose in March by 13.2% vs. a 12.0% increase in February.

President Biden proposed a $6 trillion growth plan for 2022, which would take the U.S. to its highest level of Federal spending since World War II. Nationwide, over 33 million people have had the coronavirus; more than 592,000 have died from it, and approximately 50% of all U.S. adults are fully vaccinated. AAA expects that at least 37 million travelers will have ventured more than 50 miles from home, by road or by air, by the time the Memorial Day weekend is over: a 60% increase from last year.

The stock market benchmarks covered in our weekly recap trended higher. The Dow Jones Industrial Average closed at 34,529.45 with a 0.9% rise, the S&P 500 added 1.2%, trading 4,204.11 at the close, and the NASDAQ Composite went out at 13,748.74 (+2.1%). CBOE’s VIX settled at 16.76 (-16.8%), its lowest end-of-week close in a month. On the currency side, the U.S. Dollar Index settled unchanged for the week, at 90.05. Commodity prices crept 2.5% upwards, as evidenced by the S&P GSCI, ending the week at 519.22; the increase was mostly due to bullish price activity in energy futures, which dominate the portfolio of contracts in the index.

Precious and base metals advanced. Their closing prices and percentage gains were as follows: gold at $1,902.50 (+1.4%), silver at $28.014 (+1.9%), platinum at $1,182.40 (+1.1%), palladium at $2,824.20 (+1.8%), copper at $4.675 (+4.4%) and aluminum at $2,483.00 (+4.8%).
The June gold settlement was its highest in 2021.

Energy markets we track were boosted by price gains, as mentioned above. Crude oil traders reacted to indications of rising demand for expected summer travel. NYMEX WTI rallied 4.3% and ICE Brent advanced 4.8%, taking these benchmarks to $66.32 and $69.63 per barrel, respectively. U.S. refined products followed suit, with June ULSD fuel closing at $2.0445 (+2.8%) per gallon and RBOB gasoline hitting $2.1402 (+3.5%). With the advent of hurricane season and hot U.S. temperatures in the longer-term forecast, natural gas resumed its up-trend, gaining 2.7% to end the week at $2.984 per mmBtu.

In the agricultural futures, our usual nine products were mixed in their directional movement: five of them increased, while four declined. Soybeans closed at $15.30½ (+0.3%). Corn and wheat slipped: with the former closing down 0.4% to $6.56¾, and the latter dropping to $6.63½ per bushel (-1.6%). The star performer in the Ags was coffee, leaping to $1.6235 per pound (+8.2%) due to severe drought issues in Brazil, which also impacted sugar. July sugar futures went out at 17.36¢ (+4.1%). Cocoa settled at $2,412 per metric ton (-1.8%), and cotton closed at 82.12¢/lb. (+0.8%). Livestock futures made an unusual flip: June live cattle eased to 115.875 (-1.5%) and June lean hogs firmed to 117.250 (+2.6%). These two markets have been converging since the start of 2021, and finally crossed over. On a per pound basis, hogs are now priced higher than cattle.

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – May 28, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – May 28, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – May 28, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – June 4, 2021

The weekly initial jobless tally was 385,000 new claims vs. the previous 405,000. Nonfarm payrolls showed a 559,000 increase; Wall Street had predicted 671,000. The unemployment rate is now 5.8% vs. 6.1% a month ago. Some analysts attributed the uptick in the labor market to more Americans getting vaccinated, and the easing of pandemic restrictions that propelled a burst of economic activity. Yet, there are 7.6% fewer jobs now than in February 2020. Construction spending rose 0.2% for April, compared with the 1.0% increase in March. April factory orders fell 0.6% vs. a prior 1.4% increase.

The benchmarks in the equities indices we track here moved slightly higher for the week: the DJIA rose 0.7%, closing at 34,756.39 on Friday, the S&P 500 increased to 4,229.89 (+0.6%), while the NASDAQ Composite ended at 13,814.49 (+0.5%). Volatility eased somewhat, as per CBOE’s VIX, which settled at 16.42 (-2.0%). The U.S. Dollar Index ticked up 0.1%, to go out trading 90.13 at the week’s end. Commodities, as a group, strengthened. The S&P GSCI closed at 533.73 (+2.8%), its highest level since October 2014.
Except for palladium, the metals on our radar declined in price. July silver slipped 0.4%, ending at $27.896 per troy ounce. Gold eased 0.7% to its $1,889.80 settlement price. Platinum fell -1.5% to its $1,164.40 close. Palladium traders managed to produce a positive net change (+0.5%) to its $2,837.90 final mark. Base metals backed off as well, with July COMEX copper closing at $4.5290/lb., and LME aluminum dropping 1.1% to $2,455.00 per metric ton.

On the price charts, energy futures kept rising. NYMEX WTI added 5.0% to reach $69.62 per barrel. ICE Brent crude increased 3.2%; ending at $71.89 on Friday: crude’s highest level since October 2018. U.S. refined products advanced as follows: ultra-low sulfur diesel fuel rose 4.0%, closing the week at $2.1199, and RBOB gasoline added 3.5% to $2.2115 per gallon. Natural gas firmed by 3.7%, taking the July futures to $3.097 per mmBtu.

Among the nine agricultural products featured here, gainers outnumbered losers 7 to 2. Soybeans closed at $15.83¾ (+3.5%), wheat moved up 3.7%, ending the week at $6.87¾, while corn settled at $6.82¾ (+4.0%). Coffee showed a slight downturn this week; the July contract lost 0.4%, closing at $1.6165 per pound. Cocoa inched a bit lower, declining 0.1% to its $2,409/ton settlement. Sugar ended the week at 17.71¢ per pound (+2.0%). Cotton prices rallied 4.0%, taking the July futures to 85.80¢. The cyberattack on JBS (the world’s largest processor of beef and pork products) seemed a flash in the pan, as the livestock markets we track ended the week subdued, considering live cattle’s volatile plunge on Monday. Cattle’s weekly move was a 0.8% gain, closing at 116.825, while live hog contracts climbed 1.9% to a 119.500 settlement.

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – June 4, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – June 4, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – June 4, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – June 11, 2021

The word “Inflation” appeared frequently in Thursday’s financial press, after the May Consumer Price Index was released, showing a 5.0% surge from a year ago, the highest rate since 2008. The month-to-month CPI was +0.6% vs. the 0.8% rise in April. Other economic statistics, compared with their prior levels were as follows: Initial jobless claims were 376,000 vs. 385,000 the prior week, The April balance of trade, reported by the Department of Commerce, indicated that the deficit grew by $68.9 billion vs. the March trade flow of negative $75.0 billion. The federal budget for May showed a $132 billion deficit vs. $399 billion in April. Wholesale inventories improved 0.8%; the previous month’s report was a +1.2% gain. Business formations in May, on a year-over-year basis, rose 69% vs. the prior 110% rise. New consumer credit was unchanged, with a $20 billion increase in April vs. the $20 billion in March, and the monthly consumer sentiment index was 86.4 vs. 82.9 in the previous report.

President Biden embarked on his first international trip since taking office, to attend the G7 summit in the UK, and to meet with Russian President Vladimir Putin in Geneva.

Stock markets were mixed for the week, yet the S&P 500’s Friday close was an all-time high of 4,247.44 (+0.4%). The Dow Jones Industrial Average went out at 34,479.60 (-0,8%), while the NASDAQ Composite strengthened to 14,069.42 (+1.8%). Volatility ebbed by 4.7%, as evidenced by CBOE’s VIX with its 15.65 final valuation on Friday, its lowest close since early February 2020. In the currency market, the greenback nudged upwards as the U.S. Dollar Index popped up 0.4% to 90.51, its highest Friday close in six weeks. The commodity sector was relatively stable, as per the S&P GSCI. The index ended the week at 532.02 (-0.3%), the smallest incremental weekly move in two months.
Metals moved sideway on the charts. Settlements and weekly changes were as follows: gold at $1,879.60 (-0.7%), silver at $28.146 (+0.9%), platinum at $1,151.70 (-1.1%), palladium at $2,780.80 (-2.2%), copper at $4.5375 (+0.2%), and aluminum at $2,464.50 (+0.4%).

Energy commodities were mostly higher for the week. NYMEX WTI crude oil rose 1.9% to $70.91 per barrel, and ICE Brent budged up to $72.69 (+1.1%). U.S. refined product futures were flat-to-down: July heating oil closed at $2.1207 (0.0%), and gasoline slipped 1.1% to $2.1861 per gallon. Natural gas got a boost from the record high temperatures in the Western U.S. NYMEX Henry Hub futures rallied 6.4%, ending at $3.296 per mmBtu, a new high for the July contract.

The agricultural contracts on our tracking list of nine commodities ended the week with a score of 4 up and 5 down. The gainers were: Corn at $6.84½ (+0.3%), cotton traded 1.4% higher closing at 87.00¢ per pound, lean hogs went out at 122.675 (+2.7%), and live cattle at 118.707 (+1.6%). The futures that lost value were: coffee, with a 2.6% slide to 157.45, sugar at 17.54¢ (-1.0%), cocoa at $2,350 per ton (-2.4%), wheat slipped 1.0% for the week, settling at $6.80¾. The greatest percentage drop in the group was for soybeans, diving 4.8% lower to $15.08½ per bushel.

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – June 11, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – June 11, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – June 11, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – June 18, 2021

The week had a number of economic reports. An unexpected statistic was the initial jobless claim tally, which had its first uptick in eight weeks: 412,000 claims compared with the previous 375,000. May retail sales declined 1.3% (vs. +0.9% in April), industrial production was +0.8% (vs. +0.1%), capacity utilization is at 75.2% (vs. 74.6%), business inventories were down 0.2% (vs. +0.2%), producer prices were up 0.8% (vs. the prior month’s 0.1% increase), May housing starts were 1.57 million (vs. 1.52 million in April), and the May index of leading economic indicators rose 1.3%, equaling the 1.3% rise in April.

The Federal Reserve’s FOMC statement indicated that the central bank’s interest rate increases could occur sooner than expected by Wall Street. This news sent the stock market sharply lower. All three equities indices that we monitor declined for the week. The greatest percentage drop was the DJIA’s 3.4% down-move to 33,290.08, the steepest retreat since late autumn (down 6.5% the week ending October 29, 2020). The S&P 500 closed at 4,166.45 (-1.9%), the largest decrease in three and a half months (down 2.4% the week ending February 26, 2021). The NASDAQ Composite lost only 0.3%, ending at 14,030.38 on Friday. The telltale metric of the selloff can be gleaned by CBOE’s VIX, which soared 32.3% as the volatility marker jumped 5.05 points to 20.70 at the close. The U.S Dollar Index exploded up to 92.32 with a 2.0% leap, the strongest weekly move in over a year (+2.4% in the week ending April 3, 2020). The commodity sector took a dive during the week. Except for energy commodities, the other groups we track here got a pounding, as evidenced in S&P’s GSCI, which settled at 520.03 (-2.3%).

COVID-19 has caused more than 600,000 deaths in the U.S., equal to the nation’s cancer fatalities in 2019, according to Johns Hopkins University. The more contagious Delta variant of the coronavirus has now been detected in 46 states. Record-breaking heat continues to stress the western U.S. Tropical storm Claudette pounded parts of the South.

Metals collapsed for the seven futures in our recap, closing prices and percentages were as follows: gold at $1,769.00 (-5.9%), silver at $25.969 (-7.7%), platinum at $1,041.00 (-9.6%), palladium at $2,469.90 (-11.2%), copper at $4.1570 (-8.4%) and aluminum at $2,385.00 (-3.2%).

As implied above, the energy sector did not have a complete washout. The crude benchmarks were the only energy futures in the plus column, while the others eased off. Settlements and percent changes were: NYMEX WTI ended at $71.64 (+1.0%), ICE Brent increased 1.1% to $73.51 per barrel, heating oil retreated 1.3% to close at $2.0932, RBOB gasoline decreased to $2.1683 (-0.8%), and natural gas fell 2.5%, taking the July contract to $3.215 per MMBtu.

Long liquidation of deliverable agricultural products was spurred by the dollar strength, and likely by the triggering of stop-loss orders by speculators as well. Of our list of featured ag futures that we review in this grouping, eight of the products were in the red for the week. The scores looked like this: July soybeans plummeted 7.5% with a $1.12½¢ crash to $13.96 per bushel, wheat gave back 18¢ to $6.62¾ (-2.6%), corn ended at $6.55¼ (-4.3%), coffee retreated 4.8%, with the July futures ending the week at $1.4990 per pound, sugar lost 6.3%, settling at 16.43¢/lb., cocoa eased 1.2% to $2,372 per metric ton, cotton lost 3.0%, with July closing at 84.42¢ per pound. In percentage terms, lean hogs fared the worst: the August contract plunged 8.8% with a drop to $1.06675 per pound. This left live cattle as the sector winner, back above the price of hogs. August futures went up 2.5% to $1.21550 at Friday’s close.

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – June 18, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – June 18, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – June 18, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – June 25, 2021

Initial jobless claims fell by only 7,000, as the weekly tally came in at 411,000 on Thursday; 418,000 new claims were filed the previous week. New home sales were 769,000 in May, compared to 817,000 in April. Existing home sales were 5.80 million, a small change from April’s 5.85 million. Durable goods orders for May were up 2.3% compared to the 0.8% drop in April. Personal income for May fell 2.0%, an improvement over April’s 13.1% setback. Consumer spending was unchanged (0.0%) vs. the prior month’s increase of 0.9%. 2021’s first-quarter growth was reported at 6.4%, as measured by gross domestic product, a robust increase from the Q4 GDP of 4.3%.

President Biden and a bipartisan group of centrist senators reached a $1.2 trillion deal to rebuild the nation’s infrastructure. The highly contagious Delta variant of coronavirus has now been detected in 49 states. In the U.S. northwest, triple-digit temperatures set all-time high records for Seattle and Portland.

Leaping out of the gate on Monday, stocks rebounded throughout the week. The S&P 500 and the NASDAQ Composite both had record closes on Friday. The former settled at 4,280.70 (+2.7%), while the latter went out at 14,360.39 (+2.4%). Rising 3.4% for the week, the DJIA ended at 34,433.84. (344 points below its all-time high reached six weeks ago). Volatility receded as the CBOE VIX collapsed 24.5%, finishing at 15.62 points. In currency markets, the U.S Dollar Index slid to 91.81 (-0.6%). Commodities mostly rose, reversing the weakness of the prior week, as evidenced by the S&P GSCI’s up-move to 529.90 (+1.9%)

Metals strengthened in varying degrees. Closing prices and percentages were as follows: gold at $1,777.80 (+0.5%), silver at $26.087 (+0.5%), platinum at $1,103.60 (+6.0%), palladium at $2,637.20 (+6.82%), copper at $4.2920 (+3.2%) and aluminum at $2,486.00 (+4.2%).

The energy sector rallied across the board. Crude futures gained a couple of dollars per barrel, as WTI closed at $73.06 (+3.9%) and Brent hit $76.18 (+3.6%). These were nearly three-year highs for both benchmarks, driven by falling inventories and rising demand indicators. Refined products followed suit, with ultra-low sulfur diesel settling at $2.1493 (+2.7%) and gasoline at $2.2639 per gallon (+4.4%). Dangerously high temperatures persisted in the western states, boosting cooling demand and skyrocketing natgas prices by 8.7%. NYMEX Henry Hub natural gas settled at $3.496 per MMBtu.

In the agricultural futures, the nine contracts we cover in our recap, five of them increased, while four declined. Soybeans closed at $13.29¾ (-4.7%). Corn sipped 2.9%, going out at $6.36½ per bushel, and wheat dropped to $6.37 (-3.9%). Coffee rose to $1.5780 per pound (+3.8%), sugar gained 2.9%, ending the week at 16.90¢/lb., and cocoa edged up 0.3% to $2,380 per ton. Cotton for December delivery closed at 87.18¢/lb. (+2.3%). Livestock futures were mixed: live cattle eased to 121.550 (-1.0%) and lean hogs firmed to 106.875 (+6.9%).

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – June 25, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – June 25, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – June 25, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – July 2, 2021

On Thursday, a five-year $715 billion infrastructure bill was passed by the House. In the Pacific Northwest, heat-related deaths climbed into the hundreds. On Friday, tropical storm Elsa barreled into the Caribbean. The coronavirus Delta variant has now been detected in all 50 states.

The following economic statistics were released during the week: construction spending down 0.3% (vs. +0.1%), motor vehicle sales 15.4 million (vs. 17.1 million), factory orders rose 1.7% (vs. -0.1%), the consumer confidence index was 127.3 (vs. 120.0). The balance of trade sank further, as the deficit for May was -$71.2 billion (vs. April’s -$69.1 billion). There were 364,000 Initial jobless claims, the lowest figure since the pandemic began; new jobs are rising as evidenced by June’s 850,000 nonfarm payrolls figure, 46% higher than May’s 583,000.

Stocks performed strongly throughout the week. The Dow Jones Industrial average advanced 1.0%, closing at 34,786.35. Both the S&P 500 and the NASDAQ Composite finished with record highs on Friday: the former settled at 4,352.34 (+1.7%), and the latter ended at 14,639.33 (+1.9 %). CBOE volatility index retreated 3.5%, finishing at 15.07 points, its lowest level since February 2020. In currency markets, the U.S Dollar Index rallied to 92.24 (+0.5%). As a group, the commodities sector rose during the week. Factoring in the S&P GSCI’s 2.2% gain, it settled at 541.45, its highest level since October 2014.

Metal futures mostly advanced. Settlement prices and percentages were as follows: gold at $1,783.30 (+0.3%), silver at $26.501 (+0.3%), platinum at $1,087.70 (-1.6%), palladium at $2,792.50 (+5.9%), copper at $4.2760 (-0.3%), and aluminum at $2,562.00 (+3.1%).

Energy markets continue to soar. Wednesday marked the finish of the first half of 2021; the futures we track here have all increased over 50%, year-to-date. The end-of-week prices and changes stacked up like this: NYMEX WTI at $75.16 (+1.5%), ICE Brent at $76.17 per barrel (+1.0%), heating oil $2.1791 (+1.3%), RBOB gasoline $2.2998 (+1.7%). At the pump, Americans are paying the highest prices seen in seven years, according to AAA. And, still rising from the heatwave, natural gas jumped 5.1% to $3.700 per MMBtu.

Our recap covers nine agricultural futures contracts; there were five gainers and four losers. Soybeans leaped to $13.99 (+10.2%), and corn climbed 11.7%, going out at $5.79¾ per bushel. Wheat firmed up to $6.52¾ (+1.9%). Coffee fell to $1.5305 per pound (-3.0%), sugar gained 4.9%, ending the week at 18.15¢/lb., cocoa declined 2.6% to $2,319 per ton, and cotton settled at 86.97¢/lb. (-0.2%). Livestock futures were mixed: live cattle eased to 122.000 (-0.7%) and lean hogs inched up to 106.875 (+0.5%).

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – July 2, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – July 2, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – July 2, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – July 9, 2021

Thirty-two million Americans are under excessive heat alerts, due to the high-pressure dome causing record temperatures in seven states in the West. California has ordered power and water preservation measures. The COVID-19 global death toll has passed 4 million. In the U.S., a spike in outbreaks is being attributed to the Delta variant, which is now the most prevalent strain of coronavirus in the nation. Twenty-five states have reported an uptick in cases, a 21% increase from the previous week.

The calendar for government economic reports was fairly light. The statistics, compared to prior levels: wholesale inventories rose 1.3% (vs. +1.1%) consumer credit rose 10.0% (vs. +5.7%), and initial jobless claims were 373,000 (vs. 371,000).

Interest rates were the focus in financial markets, as the 10-Year Treasury Note fell to 1.29%, its lowest level since late March (1.75%). Inflation concerns have subsided, as the Fed watchers inferred that an overheated economy this year is less likely than expected. All three stock market indices we track in our recap closed at record highs on Friday: DJI at 34,870.16 (+0.2%), S&P 500 at 4,369.55 (+0.4%), and NASDAQ at 14,701.92 (+0.4%). CBOE’s VIX snapped out of its downtrend, trading as high as 20.65 on Thursday. When the dust settled, the volatility index closed at 16.18 on Friday, up 7.4% for the week. The U.S. Dollar Index backed off to 92.10 (-0.2%), and the S&P GSCI eased to 531.75 (-1.8%).

Metals markets were mixed. Futures settlements and weekly changes were as follows: gold at $1,810.60 (+1.5%), silver at $26.234 (-1.0%), platinum at $1,094.40 (+0.8%), palladium at $2,812.00 (+0.7%), copper at $4.3455 (+1.6%), and aluminum at $2,483.5 (-2.3%).

Energy futures were volatile due to uncertainty emanating from the OPEC meeting in Vienna. Seesaw trading around this issue widened the movement to a $6 range during the week. Both crude oil benchmarks we cover, WTI and Brent, ended only 0.8% lower: the former closed at $74.56 (-60¢) and the latter at $75.55 (-62¢). U.S. refined products weakened, as well. Heating oil lost 1.1%, closing the week at $2.1552, and RBOB gasoline slipped 0.3% to $2.2920 per gallon. Natural gas, down 0.7% for the week, ended at $3.674 per mmBtu.

Turning to the agricultural markets, we saw a week with more declines than increases. Six of the nine products we feature here moved downward. The settlement prices on the negative side were as follows: November soybeans fell 5.0% to $13.29¼, December corn had a 10.8% sell-off to $5.17, September wheat dropped 5.8% to $6.15 at the close, July coffee lost 1.0% to 151.50, October sugar retreated 4.8% to 17.28¢, and live cattle ended at 119.225 (down 2.3%). The three winning contracts were cocoa at $2,347 per ton (+1.2%), December cotton at 87.71¢ (+0.9%), and lean hogs at 101.575 (+1.3%).

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – July 9, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – July 9, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – July 9, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – July 16, 2021

COVID-19 cases are rising in all fifty U.S. states; Los Angeles reinstated its indoor mask mandate. Wildfires are raging throughout western North America, which is in its fourth consecutive heatwave. Nevada’s Lake Meade, the nation’s largest reservoir, has dropped to the lowest level ever recorded since the construction of Hoover Dam created the lake in 1936. This is severely impacting farm production throughout the Southwest. Historic rains in Europe have caused more than 120 deaths; Germany and Belgium have suffered the worst flooding in over a century.

Americans seeking unemployment insurance filed 360,000 claims, the lowest level yet reported during the pandemic. There were numerous other economic statistics were released. June CPI showed a 0.9% uptick, compared with a 0.6% rise in May. Producer prices were up 1.0% (vs. the prior month’s 0.8% increase). June retail sales increased 0.6% (vs. -1.7% in May). Wholesale inventories advanced 0.5% in May; the prior month’s report was a 0.1% rise. The capacity utilization rate is now 75.4% (vs. 74.1%). The monthly consumer sentiment index stands at 85.5, unchanged from the prior level. June’s federal budget showed a $174 billion deficit vs. -$864 billion in May.

Stock market indices took a breather from the recent weeks of new record highs, easing somewhat. For the week, the DJIA slipped 0.5% to 34,687.85, the S&P 500 decreased 1.0% to 4,327.16, and the NASDAQ went out at 14,427.24 with its 1.9% slide. Volatility returned to the exchanges and nudged CBOE’s VIX to pop up 14.0%, ending at 18.45 on Friday. The U.S. Dollar Index was firm, closing the week at 92.71 (+0.7%). The portfolio of commodities in S&P’s GSCI declined 0.7% to a 528.17 final print.

Of the six metal futures we focus on in our recap, two moved higher and four moved lower. The gainers were: gold at $1,815.00 (+0.2%) and platinum at $1,108.50 (+1.2%). The weaker contracts in the group closed as follows: aluminum at $2,488.50 (-0.5%), silver at $25.795 (-1.7%), copper at $4.3230, and palladium at $2,637.30 (-6.2%).

On the energy futures charts, the uptrend is breaking in the petroleum sector. For the week, NYMEX WTI fell to $71.81 per barrel, down 3.7%. ICE Brent dropped to 73.59 (-2.6%). U.S. refined products retreated, as well: Heating oil faded 1.9%, closing the week at $2.1133, and RBOB gasoline shaved off 1.7% to $2.2536 per gallon. Natural gas had an uneventful week, going out unchanged at $3.674 per mmBtu.

The agricultural products that we monitor showed steady strength. Of the nine futures on our roster, eight advanced, and one declined. Cocoa contracts lost value, closing at $2,320 per metric ton (-1.2%). For the gainers, closing prices and net weekly percentages were as follows: soybeans closed at $13.91¾ (+4.7%), corn at $5.52 (+6.8%), wheat at $6.92½ (+12.6%), coffee at $1.6135 (+6.5%), sugar at 17.71¢ per pound (+2.5%), cotton at 89.93¢ (+2.5%), live cattle at 120.175 (+0.8%), and lean hogs closed at 105.650 (+4.0%).

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – July 16, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – July 16, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

Futures Referenced in Market Recap

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – July 16, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – July 23, 2021

OPEC Plus, the group of 23 oil-producing countries, reached a deal to raise crude output. The barrels added to global supply amount to a production increase of about 2% by the end of the year. Wildfires continue to rage in western North America. In Southern Oregon, the Bootleg fire has burned over 340,000 acres (530 square miles) of forest and grasslands. Nationwide, there are now 250 COVID-19 deaths per day which is 42% higher than two weeks ago; 97% of those hospitalized are unvaccinated. 83% of new COVID-19 cases are attributed to the Delta variant.

Unexpectedly, weekly jobless claims moved higher. Initial filings for unemployment insurance came in at 419,000 vs. the prior week’s 368,000. Wall Street analysts had forecast 348,000. Other items on the economic calendar were: housing starts for June at 1.64 million vs. 1.55 million in May, building permits at 1.60 million vs. 1.68 million, existing home sales at 5.86 million, compared with the previous 5.78 million, The index of leading economic indicators was 0.7% for June vs. 1.2% in May.

After a rough start on Monday, stocks rose four days in a row. All three stock market indices we track in our recap closed at record highs on Friday: The Dow Jones Industrial Average settled 35,061.55 (+1.1%), S&P 500 at 4,411.79 (+2.0%), and the NASDAQ Composite at 14,836.99 (+2.8%). Despite the resurgence of the pandemic and its potential effects on the global economy, the DJIA’s penetration of 35,000 for the first time took its 2021 gain to 14%. The yield on the 10-year T-Note rebounded to 1.29% on Friday, after beginning the week at 1.13%, a five-month low. CBOE’s VIX retreated to 17.20, down 6.8% for the week. The U.S. Dollar Index crept higher to 92.90 (+0.2%), and the S&P GSCI inched to 532.48 (+0.8%).

Metals markets were mixed. Futures settlements and weekly changes were as follows: gold at $1,801.80 (-0.7%), silver at $25.233 (-2.2%), platinum at $1,061.40 (-4.2%), palladium at $2,662.40 (+1.0%), copper at $4.400 (+1.8%), and aluminum at $2,502.50 (+0.6%).

Energy commodities moved to the plus side. NYMEX WTI crude oil rose 0.7% to $72.07 per barrel, and ICE Brent also gained 0.7%, closing at $74.10 at week’s end. U.S. refined product futures improved, as well: heating oil closed at $2.1339 (+1.0%), and gasoline advanced 1.7% to $2.2913 per gallon. Natural gas continued to rally. Critically low water levels out west have forced utilities to switch from hydro-power to nat gas fired generation, creating unprecedented demand for the region. NYMEX Natural Gas futures jumped up 10.5%, ending at $4.060 per mmBtu, which is not only a new high for the August contract, but also the first time that the front-month has traded above $4.00 in over six years (January 2015).

In terms of directional movement, the nine agricultural futures we monitor were evenly mixed: four decreased, one was unchanged, and four increased. Soybeans closed at $13.51¾ (-2.9%). Corn and wheat slipped, with the former losing 1.6% ($5.43), and the latter decreasing 1.2% ($6.84 per bushel). Cotton gave back 0.3%, ending at 89.66¢ per pound. Cocoa sat on the fence in weekly terms at $2,321 per ton (0.0%). Livestock moved higher with live cattle firming to 121.500 (+1.1%) and lean hogs advancing to 107.350 (+1.6%). Sugar futures went out at 18.17¢ (+2.6%). Among the gainers, the star performer was coffee, skyrocketing 17.1% to $1.89 per pound, a six-and-a-half-year high.

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – July 23, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – July 23, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – July 23, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – July 30, 2021

2021’s second-quarter growth was reported at 6.5%, as measured by gross domestic product. This slight increase from the Q1 GDP of 6.3% takes the U.S. economy above its pre-pandemic level. Weekly Initial jobless claims dropped to 400,000 vs. 424,000. Monthly June statistics, compared with May, were as follows: New home sales were 676,000 vs. 724,000, durable goods orders were up 0.8% vs. a 3.2% rise, personal income rose 1.1%, an improvement over the prior 2.2% drop, and consumer spending was up 1.0% vs. the previous 0.1% decline.

Mask mandates are being reinstated, as the CDC has called for a resumption of indoor mask-wearing due to the Delta variant of coronavirus that has caused the U.S. positivity rate to rise to 8%. On Wednesday, details of The Bipartisan Infrastructure Deal circulated through the media: $110 billion for roads, bridges, and major projects, $66 billion for passenger and freight rail, $65 billion for broadband, $39 billion for public transit, $17 billion for ports and waterways, and $46 billion to help states and cities prepare for the consequences of climate change.

Stock market indices held their ground. The benchmarks we track all poked into new record-high territory during the week, but eased a bit on Friday. For the week, the DJIA slipped 0.4% to 34,935.47, the S&P 500 also decreased 0.4%, ending at 4,395.26, and the NASDAQ went out at 14,672.68 with its 1.1% slide. Volatility picked up somewhat and pushed CBOE’s VIX 6.0%, ending at 18.24 on Friday. The U.S. Dollar Index came off to 92.09 (-0.9%). The basket of commodity futures in S&P’s GSCI increased 1.6% to a 541.12 close.

Of the six metal futures we focus on in our recap, four moved higher and two moved lower. The gainers were: gold at $1,817.20 (+0.6%), silver at $25.547 (+1.2%), copper at $4.4825 (1.9%), and aluminum at $2,582.00 (+3.2%). Aluminum has not traded this high since February 2011. The two weaker contracts closed as follows: platinum at $1,048.40 (-1.2%) and palladium at $2,656.20 (-0.2%).

On the energy futures charts, the uptrend returned in the petroleum sector. For the week, NYMEX WTI advanced to $73.95 per barrel, up 2.6%. ICE Brent increased to 75.41 (+2.7%). U.S. refined products strengthened, as well: heating oil gained 2.8%, closing the week at $2.1956, and RBOB gasoline rose 3.3% to $2.3347 per gallon. Natural gas sold off for the week, going out at $3.914 per mmBtu (-3.2%) on forecasts for milder U.S. temperatures.

Of the nine agricultural futures we monitor, five decreased, one was unchanged, and three increased. Soybeans closed at $13.49¼ (-0.2%). Both corn and wheat rose, with the former gaining 0.4% to $5.45¼, and the latter rallying 2.9% to $7.03¾ per bushel. Coffee finally had a correction from its recent meteoric rise, giving back 5.0% to $1.7955 per pound. Sugar futures went out at 17.91¢ (-1.4%). Cocoa firmed to $2,366 per ton (+1.9%). Cotton slipped 0.3%, ending at 89.39¢ per pound. Cattle prices were flat, settling at 127.200 (0.0%). Hogs took a 5.0% dive, closing at 88.025 in the final session of the week.

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – July 30, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – July 30, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – July 30, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 6, 2021

Nationwide, the Delta variant has now driven the coronavirus new case rate to over 100,000 per day, the highest since November 2020; incentives are now being offered to encourage vaccinations. 50% of the U.S. population is now fully vaccinated. California’s 463,000-acre Dixie wildfire has grown to be the 2nd largest in the state’s history.

Monthly economic statistics for June, compared with May, were as follows: construction spending 0.1% vs. -0.2%, factory orders 1.5% vs. a 2.3%, the trade balance was a $75.7 billion deficit vs. -$71.0 billion, and consumer credit was $24 billion vs. $35 billion. Weekly initial jobless claims dropped to 385,000 vs. 399,000. July non-farm payrolls increased to 943,000 vs. June’s 938,000 new jobs, and the unemployment rate fell to 5.4% from the prior 5.9%.

Stock market indices maintained their upward trend: the Dow Jones Industrial Average settled 35,208.51 (+0.8%), S&P 500 at 4,436.52 (+0.9%), and the NASDAQ at 14,835.76 (+1.1%). CBOE’s VIX tumbled to 16.15, down 11.5% for the week, its lowest Friday close in over a month. The U.S. Dollar Index rose to 92.77 (+0.7%), and the S&P GSCI slid to 522.33 (-3.5%).

Prices retreated for the six metals futures in our recap. Settlements and weekly percentage changes were: gold at $1,763.10 (-3.0%), silver at $24.326 (-4.4%), platinum at $972.20 (-7.3%), palladium at $2,630.10 (-1.0%), copper at $4.3480 (-3.0%) and aluminum at $2,578.00 (-0.5%).

Crude oil contracts took a plunge, as NYMEX WTI ended Friday’s session at $68.28 (-7.7%), and ICE Brent declined 6.2%, to settle at $70.70 per barrel. Refined products retreated, as well. Heating oil lost 5.1%, closing at $2.0845 while RBOB gasoline fell 3.3%, settling at $2.2569 per gallon. Unlike the petroleum sector, natural gas had a robust up-week (+5.8%) going out at $4.140 per mmBtu, the highest since 2014.

Directional movement in the agriculture markets gave our list of nine products an overall score of six higher vs. three lower. The gainers were: corn, with it’s 2.1% rise to $5.56½, wheat at $7.19 (+2.2%), sugar at 18.68¢ (+4.3%), cocoa at $2,417 (+2.2%), cotton at 91.70¢ per pound (+2.6%), live cattle at 127.875 (+0.5%). The contracts that lost value were: soybeans at $13.36¾ per bushel (-0.9%), coffee 2.0% lower, closing at $1.7600/lb., and lean hogs went out at 87.600 (-0.5%).

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – August 6, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – August 6, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – August 6, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 13, 2021

The Senate passed the $3.5 trillion blueprint of President Biden’s infrastructure plan. The U.S. began staging troop deployment for an evacuation mission in response to the Taliban insurgency against the Afghan government. Eight U.S. states now account for 51% of the nation’s coronavirus hospitalizations: Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Nevada and Texas.

Monthly economic statistics for July, compared with June, were as follows: the consumer price index +0.5% vs. +0.9%, producer price index +1.0% (unchanged from the prior month), the federal budget balance was a $302 billion deficit vs. -$68 billion. Weekly initial jobless claims dropped to 375,000 vs. last week’s 387,000.

Stock markets moved higher for most of the week. Of the three benchmarks we track, the DJIA and S&P 500 ended at record highs: the former at 35,515.38 (+0.9%) and the latter at 4,468.00 (+0.7%). The NASDAQ slipped slightly by 0.1% with its 14,822.90 close. Volatility eased, as the CBOE’s VIX fell to 15.45 (-4.3%). The U.S. Dollar Index slipped a bit, closing the week at 92.52 (-0.3%). The portfolio of commodities in S&P’s GSCI firmed 0.5% to 524.74 at week’s end.

Most of the metal futures we focus on in our recap moved lower. The weaker contracts were gold at $1,778.20 (-2.1%), silver at $23.779 (-6.9%), platinum at $1,026.00 (-2.1%) and copper at $4.3915 (-2.0%). Palladium managed to increase slightly (by only 30¢ per ounce) to $2,656.50 (+0.01%). Aluminum for 3-month delivery on the LME gained 0.9% for the week, closing at $2,600 per metric ton. Aluminum has not traded this high in 10 years; it had reached $2,694 in April 2011.

On the energy market charts, natural gas broke its recent up-trend as U.S. temperature forecasts cooled to normal levels. The August contract fell 6.7% to $3.861 per mmBtu. On the other hand, the petroleum sector corrected with a bounce from recent selloffs and then ended the week mixed. Settlements and percentage changes were as follows: WTI crude at $68.44 per barrel (+0.2%), Brent crude at $70.59 (-0.2%), ultra-low sulfur diesel fuel at $2.0779 per gallon (-0.3%), and RBOB gasoline at $2.2626 (+0.3%).

Eight of the nine agricultural products on our radar advanced with one negative move: lean hogs, closing at 86.525 (-1.2%). The gainers were: soybeans at $13.65 (+2.1%), corn at $5.73 (+3.0%), wheat at $7.62¼ (+6.0%), coffee at $1.8275 (+3.8%), sugar at 19.95¢ (+6.8%), cocoa at $2,547 (+5.4%), cotton at 94.32¢ (+2.9%), and live cattle at 128.125 (+0.2%).

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – August 13, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – August 13, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – August 13, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 20, 2021

News headlines this week covered familiar topics. In Afghanistan, the Taliban took control of the country. The U.S. evacuation mission continues, and the EU is bracing for waves of Afghani refugees in the months to come. On the weather front, hurricane season is now ramping up. On Monday, tropical storm Fred peaked at 65 mph, making landfall on Florida’s panhandle. Hurricane Grace made landfall in Haiti, and intensified to 125 mph, hitting Veracruz, Mexico before petering out. Henri followed, taking aim at the East Coast. According to global average temperature data reported by NOAA, last month was the hottest July on record.

Monthly economic statistics, compared with previous levels, were as follows: retail sales -1.1% vs. -0.3%, industrial production 0.9% vs. 0.2%, capacity utilization 76.1% vs. 75.4%, business inventories 0.8% vs. 0.6%, housing starts 1.53 million vs. 1.64 million. Weekly initial jobless claims were the lowest since the pandemic began, dropping to 348,000 vs. last week’s 377,000.

Stock market indices moved lower for the first half of the week, then corrected a bit, but lost some ground from the prior Friday. The S&P 500 decreased 0.6%, ending at 4,441.67, the DJIA closed at 35,120.08 (-1.1%), and the NASDAQ Composite went out at 14,714.66 (-0.7%). Volatility soared 20.1%, as evidenced by the CBOE VIX, which spiked to 18.56. The USD Index rose to 93.45 (+1.0%). Falling prices in the commodity sector depressed the S&P GSCI to 494.42 (-5.8%), its first close below 500 in four months (494.10 on April 23).

With the exception of gold, which inched up 0.3% to settle at $1,784.00 per ounce, the other five metal futures we track here were in the minus column. The final prices were: silver at $23.112 (-2.8%), platinum at $994.20 (-3.1%), palladium at $2,276.50 (-14.30%), copper at $4.1370 (-5.8%), and aluminum eased 2.1%, with the LME Friday close at $2,546.50 per metric ton.

In the energy futures, the petroleum sector continued to sell off, closing at three-month lows. Settlements and percentage changes were as follows: WTI crude at $62.14 per barrel (-8.9%), Brent crude at $65.18 (-7.7%), ultra-low sulfur diesel fuel at $1.9082 per gallon (-8.2%), and RBOB gasoline at $2.0236 (+10.6%). Natural gas, the only non-petroleum energy product that we cover, had a down week, as well, with inventories rising more than expected. The front-month closed at $3.851 per mmBtu (-0.3%).

Of the nine agricultural contract prices we report, seven retreated, and two advanced.  Those in the red were: soybeans at $12.90 3/4 (-5.4%), corn at $5.37 (-6.3%), wheat at $7.14¼ (-6.3%), coffee at $1.8150 (-2.3%), sugar at 19.58¢ (-1.9%), cocoa at $2,567 (-2.0%), cotton at 93.10¢ (-1.3%). The winners were in the livestock category; live cattle finished at 129.050 (+0.7%), and lean hogs, closed at 88.625 (+2.4%).

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – August 20, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – August 20, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – August 20, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – August 27, 2021

According to a CDC report on Friday, 1,200 coronavirus deaths occurred in the U.S. in a 24-hour period, a fatality rate not seen since early March. At our press time for this end-of-week report, Hurricane Ida, the ninth named storm of 2021 was on track to make landfall in Louisiana as a category 4 or 5 event.

Monthly economic statistics, compared with previous levels, were as follows: new home sales 708,000 vs. 701,000, existing home sales 5.99 million vs. 5.86 million, durable goods orders -0.1% +0.8%, personal income +1.1% vs. +0.2%, and consumer spending +0.3% vs. +1.1%. Weekly initial jobless claims were 353,000 vs. last week’s 349,000.

After a jump-start on Monday, stocks advanced throughout the week. The S&P 500 and the NASDAQ Composite both had record closes on Friday. The former settled at 4,509.37 (+1.5%), while the latter went out at 15,129.50 (+2.8%). Rising 1.0% for the week, the DJIA ended at 35,455.80 (170 points shy of its all-time high reached on August 16). Volatility eased as the CBOE VIX declined 11.7%, finishing at 16.39 points. In currency markets, the U.S Dollar Index slipped to 92.68 (-0.8%). Commodities surged, as per the S&P GSCI’s 7.0% leap to 529.09, its biggest weekly move in fifteen months (+ 8.4% the week ending May 8, 2020).

Precious and base metals advanced. Their closing prices and percentage gains were as follows: gold at $1,819.50 (+2.0%), silver at $24.062 (+4.1%), platinum at $1,006.50 (+1.2%), palladium at $2,404.00 (+5.6%), copper at $4.3185 (+4.4%) and aluminum at $2,649.50 (+4.0%). Aluminum’s movement is the best year-to-date performance in the metals futures group (+33.8%).

The energy sector rallied across the board, mostly in response to Ida’s trajectory. Crude soared a fistful of dollars per barrel: WTI closed at $68.74 (+10.6%) and Brent got up to $72.70 (+11.5%). Those moves were +$6.60 and +$7.52, respectfully. Refined products followed suit, with ultra-low sulfur diesel settling at $2.1092 (+10.5%) and RBOB gasoline at $2.2742 per gallon (+12.4%). Natural gas catapulted to $4.388 per mmBtu (+13.5%), as market commentaries recalled the Katrina price spike of August and September 2005.

For the nine agricultural futures we track in our recap, as with the other categories reported above, all of the products in this grouping moved higher. The closing prices and percentage increases from the previous Friday were: soybeans at $13.23½ (+2.5%), corn at $5.53¾ (+3.1%), wheat at $7.32½ (+0.6%), coffee at $1.9220 (+5.9%), sugar at 20.04¢ (+2.3%), cocoa at $2,582 (+0.6%), cotton at 94.84¢ (+1.9%), live cattle at 129.125 (+0.1%), and lean hogs at 90.725 (+2.4%).

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – August 27, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – August 27, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – August 27, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – September 3, 2021

After pummeling Louisiana and leaving a million customers without electric power, the remnants of Hurricane Ida moved into the northeast causing historic rainfall and flooding, along with at least 50 deaths. Because Ida’s aftermath has severely impacted the energy infrastructure, with 80% of Gulf oil production offline, the Department of Energy is releasing 1.5 million barrels of oil from the Strategic Petroleum Reserve in order to mitigate fuel shortages. The storm’s cost to insurers is estimated to be $18 billion. According to the American Academy of Pediatrics, 4.8 million children have tested positive for COVID-19 and now account for 22.4% of new cases as the new school year is beginning.

Monthly economic statistics, compared with previous levels, were as follows: Case-Shiller national home price index (year-over-year) 18.6% vs. 16.8%, the Chicago purchasing manager’s index 66.8 vs. 73.4, consumer confidence index 113.8 vs. 125.1, construction spending 0.3% vs. 0.0%, balance of trade (deficit) -$70.1 billion vs. -$73.2 billion, factory orders 0.4% vs. 1.5%, non-farm payrolls 235,000 vs. 1.05 million, unemployment rate 5.2% vs. 5.4%. Weekly initial jobless claims were 340,000 vs. last week’s 354,000.

Stocks were steady to higher for the week. The S&P 500 settled at 4,535.43 (+0.6%), and the NASDAQ Composite went out at 15,363.52 (+1.5%). The DJIA, eased 0.2%, ending at 35,369.09 on Friday. Volatility stabilized, as the CBOE VIX gained only two ticks (+0.1%), finishing at 16.41 points. The U.S Dollar Index shaved off 0.6%, with its 92.11 final value. Commodity indices continued moving higher, as the S&P GSCI closed at 531.87 (+0.5%), mostly due to rising metals and energy prices.

We will summarize the strength that persisted in metals futures with settlement prices and their respective percentage increases: gold at $1,833.70 (+0.8%), silver at $24.802 (+2.9%), platinum at $1,021.60 (+1.5%), palladium at $2,416.30 (+0.3%), copper at $4.3340 (+0.002%) and aluminum at $2,727.00 (+2.9%).

The energy sector showed gains, but less than the prior week. WTI closed at $69.29 (+0.8%), and Brent rose to $72.61 (+1.3%). Refined products also increased, with heating oil settling at $2.1594 (+2.5%) and RBOB gasoline at $2.1540 per gallon (+1.6%). Natural gas was the leader of the group we report, jumping 7.4% to $4.712 per mmBtu, as it was still driven by hurricane Ida’s fundamentals.

A week ago, we saw rallies in all nine of the agricultural contracts covered in our recap. Now, the score has shifted, with seven products dropping, and only two rising. The strength was in two of the soft commodities: coffee and cocoa. The former increased 0.4% to $1.9300 per pound, and the latter advanced 2.8% to $2,654 per ton. For the futures that retreated, the closing prices and percentage decreases from the previous Friday were: soybeans at $12.92 (-2.4%), corn at $5.24 (-5.4%), wheat at $7.26¼ (-0.9%), sugar at 19.62¢ (-2.1%), cotton at 94.02¢ (-0.9%), live cattle at 124.800 (-3.3%), and lean hogs at 89.575 (-1.3%).

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – September 3, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – September 3, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – September 3, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – September 10, 2021

The current Fed “Beige Book” report focuses on the economic pullback in July and August, attributing it to the resurgence of COVID-19 cases, persistent supply chain problems, and companies struggling to fill positions. According to the Fed’s comments, the most impacted expenditures have been for eating out, travel and tourism. The Beige Book findings will be used at the next Fed policy-making meeting (Sep. 21-22), to determine the central bank’s decisions regarding interest rates and its monthly bond purchasing program.

The week was light on economic statistics. Monthly figures, compared with previous levels, were as follows: consumer credit $17 billion vs. $38 billion, producer price index 0.7% vs. 1.0%, and wholesale inventories were revised to 0.6% (unchanged). Weekly initial jobless claims were 310,000 vs. last week’s 340,000.

Stocks were weaker across the indices we track. The DJIA fell 2.2%, ending at 34,607.72 on Friday. The S&P 500 went out at 4,458.58 (-1.7%), and the NASDAQ Composite closed at 15,115.49 (-1.6%). Volatility surged back into the market, as evidenced by CBOE VIX, which jumped 27.7% to a 20.95 finish. The U.S Dollar Index regained what it had lost the prior week, to end at 92.64 (+0.6%), and the S&P GSCI closed at 531.42 (-0.1%).

Precious metal prices decreased, while industrial metals increased. The end-of-week futures settlements and their respective percentage movements were as follows: gold at $1,792.10 (-2.3%), silver at $23.900 (-3.6%), platinum at $956.50 (-6.4%), palladium at $2,126.30 (-12.0%), copper at $4.4520 (+2.7%), and aluminum at $2,924.00 (+7.2%).

In the energy sector, the spotlight was on natural gas, with a 4.8% weekly rise to $4.938 per mmBtu on Friday. October natgas futures printed above the five-dollar mark a few times during the week, but Thursday’s close was $5.031, a price level not seen for the nearby contract since February 2014. The petroleum sector’s closing prices showed minimal changes for the week: WTI crude at $69.72 (+0.6%), Brent crude at $72.92 (+0.4%), heating oil at $2.1460 (-0.6%), and RBOB gasoline at $2.1540 (0.0%).

Regarding the nine agricultural futures we track in our recap, all of the products in this category moved lower. The closing prices and corresponding percentage decreases from the previous Friday were: soybeans at $12.86½ (-0.4%), corn at $5.17½ (-1.2%), wheat at $6.88½ (-5.2%), coffee at $1.8805 (-2.6%), sugar at 18.79¢ (-4.2%), cocoa at $2,603 (-1.9%), cotton at 93.50¢ (-0.6%), live cattle at 123.425 (-1.1%), and lean hogs at 82.450 (-8.0%).

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – September 10, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – September 10, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – September 10, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – September 17, 2021

The annual data released Tuesday by the U.S Census Bureau underscored the economic impact of the pandemic last year. The median inflation-adjusted household income for 2020 fell 2.9% to $67,521, according to the bureau. The official poverty rate rose one percentage point to 11.4%, however, the report included a supplemental poverty rate that was lower (9.1%) because it factored in the federal relief enacted by Congress. According to the CDC’s data tracker, new COVID cases in the U.S. have risen to an average of 146,182 per day, and daily deaths now average 1,448.

Monthly economic statistics, compared with previous levels, were as follows: the federal budget balance was a $171 billion deficit vs. -$200 billion, the consumer price index +0.3% vs. +0.5%, industrial production 0.4% vs. 0.8%, capacity utilization 76.4% vs. 76.2%, business inventories 0.5% vs. 0.9%, and retail sales 1.8% vs. -1.0%. Weekly initial jobless claims rose to 332,000 vs. the prior week’s 312,000.

Stock indices eased slightly. The DJIA ended the week at 34,584.88 (-0.1%), the S&P 500 finished at 4,432.99 (-0.6%), and the NASDAQ Composite closed at 15,043.97 (-0.5%). CBOE’s VIX settled at 20.81 (-0.7%), and the U.S Dollar Index inched up 0.6%, ending at 93.24 on Friday. The commodities in the S&P GSCI futures portfolio crept higher to close the index at 538.85 (+1.4%).

Precious and base metals declined. Their closing prices and percentage losses were as follows: gold at $1,751.40 (-2.3%), silver at $22.337 (-6.5%), platinum at $930.60 (-2.7%), palladium at $1,983.80 (-6.7%), copper at $4.2460 (-4.6%) and aluminum at $2,885.50 (-1.3%). The December palladium settlement was at its lowest, year-to-date.

On the energy futures charts, the uptrend returned in the petroleum sector. For the week, NYMEX WTI advanced to $71.97 per barrel, up 3.2%. ICE Brent increased to 75.34 (+3.3%). U.S. refined products also rose: heating oil gained 2.9%, closing the week at $2.2091, and RBOB gasoline added 0.8% to $2.1713 per gallon. Natural gas made another new high for the year, going out at $5.105 per mmBtu (+3.4%).

the nine agricultural futures we monitor were mixed In terms of directional movement, four decreased and five increased. The contracts that lost value were: soybeans at $12.84 (-0.2%), coffee at $1.8640 (-0.9%), cotton at 92.33¢ (-1.3%), and live cattle at 122.800 (-0.5%). The gainers were: corn at $5.27¼ (+1.9%), wheat at $7.08¾ (+2.9%), sugar at 19.18¢ (+2.1%), cocoa at $2,665 (+2.4%), and lean hogs at 85.725 (+4.0%)

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – September 17, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – September 17, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – September 17, 2021 appeared first on World Cup Trading Championships.

Weekly Market Recap – September 24, 2021

Monday saw the biggest drop in the stock market since May. The waves of selling were in response to reports from rating agencies that “default appears probable” for Chinese property giant Evergrande, which is saddled with $300 billion in debt. Another source of pressure on the markets was referenced to Treasury Secretary Yellin’s warning that the U.S. could default on its debt in October if Congress doesn’t act to raise the limit. By Friday’s close, investors had driven the market indices back up, erasing the week’s losses. Some analysts attributed the optimism to signs that the $1 trillion infrastructure bill was gaining traction in Washington.

Monthly economic statistics compared with previous values were: Housing starts 1.62 million vs. 1.55 million, building permits 1.73 million vs. 1.63 million, existing home sales 5.88 million vs. 6.0 million, New home sales 740,000 vs. 729,000, and the index of leading economic indicators 0.9% vs. 0.8%. Real household wealth for Q2 was up 9.2% vs. +12.4%, and Q2 real domestic non-financial debt fell 1.7% vs. +3.0%. Weekly initial jobless claims were 351,000 vs. 335,000.

In the aftermath of the above-mentioned stock plunge on Monday, the indices we track here squeaked their way back on track to close minimally higher for the week. The Dow Jones Industrial Average rose 0.6% to 34,798.00, the S&P 500 ended at 4,455.48 (+0.5%), and the NASDAQ Composite had a slight increase to 15,047.70 (+0.02%). CBOE’s VIX, having spiked to 28.79 on Monday, ended the week at 17.75 (-14.7%). The U.S. Dollar Index finished at 93.27 (+0.03%). Commodity prices firmed 2.0%, as evidenced by the S&P GSCI, settled at 549.72 on Friday.

In metals futures, the contracts on our radar were mostly higher. The settlements and corresponding percentage movements were: gold at $1,751.70 (+0.02%), silver at $22.425 (+0.4%), platinum at $979.90 (+5.3%), palladium at $1,951.10 (-1.6%), copper at $4.2855 (+0.9%), and aluminum at $2,915.50 (+1.0%).

Energy markets maintained strength from the prior week. NYMEX WTI advanced to $73.98 per barrel, up 3.0%. ICE Brent rallied to 78.09 (+3.7%). U.S. refined products also rose: heating oil gained 2.6%, closing the week at $2.2671, and RBOB gasoline added 0.7% to $2.1875 per gallon. Natural gas went out at $5.140 per mmBtu (+0.7%).

Six of the nine agricultural products we report moved higher and three of them decreased. The gainers were: soybeans at $12.85 (+0.1%), wheat at $7.23¾ (+2.1%), coffee at $1.9435 (+4.3%), cotton at 95.99¢ (+4.0%), live cattle at 122.925 (+0.1%), and lean hogs, closing at 87.275 (+1.8%). The negative moves were in corn at $5.26¾ (-0.1%), sugar at 19.10¢ (-0.4%), and cocoa at $2,591 (-2.8%).

Futures Referenced in Market Recap

Current Standings​

2021 World Cup Championship of Futures Trading®

January 1, 2021 – September 24, 2021

2021 World Cup Championship of Forex Trading®​

January 1, 2021 – September 24, 2021

2020-2021 Global Cup Trading Championship​

June 1, 2020 – May 28, 2021 – Final Pending Audit

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. CME Group is the trademark of CME Group, Inc. The Globe logo is a trademark of Chicago Mercantile Exchange, Inc.

The post Weekly Market Recap – September 24, 2021 appeared first on World Cup Trading Championships.