Weekly Market Recap – June 28th, 2019

Posted by:

Weekly Market Recap – June 28th, 2019

In the Markets

Through Wednesday, the S&P 500 dropped 1.24%. A late week rebound, however, resulted in a weekly loss for the index of just 0.29%. With optimism surrounding G-20 summit meetings between President Trump and President Xi, as well as expected rate cuts, the S&P 500 posted a 6.9% gain in the month of June; the best June since 1955. The NASDAQ fell 0.3%, and the Dow Jones lost 0.4% on the week.

The energy sector posted gains across the board. WTI crude gained 1.81%, while Brent futures advanced 2.07%. Heating oil followed the trend set by crude, up 1.5%. Gasoline, on the other hand, outperformed the other products, gaining 4.65% on the week. Natural gas managed to regain some of its steep losses from the week prior, gaining 5.58%.

Gold continued its gains from last week, as interest rate cuts remain on the horizon, up 1.17%. Silver, however, did not follow suit, losing 0.19%. Platinum paced precious metals, gaining 3.72%. Palladium also continued its recent string of gains, up 2.16%. Copper also managed to climb, up 0.63%.

Soybeans and wheat both finish almost flat on the week; wheat maintained the same exact price, while soybeans move up just 0.14%. Corn did not fare as well, dropping 4.97% on the week. Lean hogs fell 5.44%, while live cattle advanced 3.71%.

Coffee exploded on the week, rising 8.47%. Sugar and milk also gained, but not at the same pace as coffee, up 0.81% and 3.71% respectively.

World Cup Trading Championships

Durai Ramasamy maintained his streak of topping the leaderboard, holding onto first place with a net return of 231%. Kurt Sakaeda also held onto his position, retaining second with a net return of 165.3%. Third and fourth place were separated by less than a single percentage point, with Holger Groechel’s net return of 125.2% edging out Eduardo Ramos’s net return of 124.6%. The top 5 was rounded out by Fabien Fischer with his net return of 94.3%.

 

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.

About the Author: