Weekly Market Recap – April 23, 2021

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Weekly Market Recap – April 23, 2021

In the Markets

There was another weekly decrease in Initial jobless claims with 547,000 first-time filings, down from the previous 586,000. The week’s list of other U.S. economic statistic reports was smaller than usual: existing home sales for March were 6.01 million vs. 6.24 million in February, while new home sales were 1.01 million, compared to 846,000 for the same period. The index of leading economic indicators rose 1.3% in March, after a 0.1% decline in February. In the U.S., a record 21% of new coronavirus cases in April, so far, are children. On Friday, the FDA announced that it would lift the temporary suspension imposed on the Johnson & Johnson vaccine.

U.S. Treasury yields have eased and stabilized after hitting one-year highs in late March. Stock market indices declined a bit during the week. The NASDAQ Composite moved 0.3% lower to 14,016.81 at Friday’s close. The S&P 500 eased to 4,180.17 (-0.1%), and the DJI slipped to 34,043.49 (-0.5%). CBOE’s VIX had its first upward weekly move in five weeks, advancing to 17.33 (+6.6%). In currency markets, the U.S. Dollar Index softened, decreasing 0.8% to reach 90.83 at the week’s end. Commodities, in general, are still increasing, as evidenced by the S&P GSCI. This diversified portfolio of futures closed at 494.10 (+1.1%), its highest end-of-week level since October of 2018.

Metals futures ranged from slightly lower to higher. Closing prices and percentage changes from the previous Friday ended as follows: gold at $1,777.80 (-0.1%), silver at $26.075 (-0.1%), platinum at $1,233.10 (+2.0%), palladium at $2,857.00 (+3.0%), copper at $4.3360 (+4.0%), and aluminum at $2,354.00 (+2.1%).

Crude oil contracts booked negative moves for the week, as NYMEX June WTI ended Friday’s session at $62.14 (-1.7%), and ICE Brent declined 1.0%, to settle at $66.11 per barrel. Refined products retreated, as well: May heating oil lost 1.2%, closing at $1.8735, while RBOB gasoline fell 2.2%, settling at $1.9957 per gallon. Unlike the petroleum sector, natural gas had another up-week (+1.9%) going out at $2.730 per mmBtu.

Agricultural products were the commodity group with the most noteworthy action. Grains took center stage as wheat and corn, in addition to soybeans, all skyrocketed, with a couple of limit-up moves during the week. Driven by the freezing conditions in the grain belt, hindering planting activity, and also influenced by buying from China, the most active futures moved as follows: wheat soared 8.9% to $7.10¼, corn leaped 12.0% to $6.55½, and soybeans closed at $15.39¾ (+7.4%) per bushel. The other agricultural products on the rise were coffee, getting up to 138.50 (+5.6%), sugar hitting 16.91⊄ per pound (+1.1%), cotton ending at 87.51⊄ (+4.5%), and lean hogs went out at 105.725 (+4.0%). Of the nine contracts we track in this sector, only two of them decreased: live cattle fell to 115.725 (-2.9%), and cocoa eased 0.6% to $2,450 per ton.


Current Standings​

2021 World Cup Championship of Futures Trading®
1 Kevin S McCormick 218.3% United States
2 Nikolai Dmitriev 166.2% Russia
3 Jürg Diemand 166.1% Switzerland
4 Graeme Adams 94.2% New Zealand
5 Kevin Davey 86.9% United States

January 1, 2021 – September 17, 2021

2021 World Cup Championship of Forex Trading®​
1 Raul Glavan 256.2% Germany
2 Patrick Nill 253.8% Germany
3 Cristian Franchi 190.1% Italy
4 Sergey Shirko 181.1% Latvia
5 Robert Miner 113.2% United States

January 1, 2021 – September 17, 2021

2020-2021 Global Cup Trading Championship​
1 Jan Smolen 247.6% Slovakia Futures
2 Stefan Seibert 222.7% Germany Futures
3 Marek Chrastina 182.4% Slovakia Futures
4 Patrick Nill 125.7% Germany Futures
5 Maxim Schulz 78.8% Germany Futures

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

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