Weekly Market Recap – April 18th, 2019

In the Markets

Two of the major indices finished nearly flat on the week, with the NASDAQ up 0.2%, and the S&P down 0.1%. The Dow Jones advanced 0.6% on the shortened holiday week. With earnings reports in full swing, with one third of the S&P 500 having reported, weaknesses in the health care sector were offset by gains in industrials. Additionally, better than expected manufacturing data from China provided an additional boost to investor sentiment. The major equity indices continue to hover around their all-time highs, with developments in key global issues, including Brexit and the U.S.-China trade negotiations, still pending.

Crude oil saw minor gains in both WTI and Brent futures, up 0.31% and 0.56% respectively. Heating oil moves were even smaller, up only 0.14%, while gasoline futures made more substantial moves, with the oil product up 2.18% on the week. This sent the gasoline crack spread up 6.79%. Natural Gas, on the other hand, posted a significant loss, plummeting 6.59% on the week.

Platinum again broke the 900/t oz mark, climbing 1.27% on the week. Silver’s move was much more muted, up just 0.2%, while gold fell on the week, dropping 1.71%.

Agricultural commodities posted a variety of losses, with wheat, soybeans, and corn falling at different rates. Corn futures were the most unscathed, dropping just 0.59%, while soybeans lost 1.65%.

Wheat posted the largest loss in the group, down 4.32% on the week. Lean hogs recent rapid growth in the wake of the swine flu outbreak cooled this week, with futures moving up just 0.91%.

World Cup Trading Championships

Eduardo Ramos maintained first place, ending the shortened week with a net return of 184.2%. Holly Springs Pharmacy climbed into second place on the week, closing the gap behind Eduardo to just over 40%, with a net return of 143.9%. Durai Ramasamy of the U.S. moved into the top five, claiming third place with a net return of 115.4%. Andrei Balanescu finished the week in fourth place with a net return of 109.1%. The leaderboard was rounded out by Lukas Schreiber and his net return of 77.3%.

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.