Weekly Market Recap – December 16, 2022

A breakthrough in science hit the headlines on Tuesday as the Lawrence Livermore National Laboratory in California announced a milestone: physicists had produced nuclear fusion ignition that generated more energy than it took to start the reaction. On Thursday, the Fed raised interest rates by half a percent; less than 24 hours later, the European Central Bank, Bank of England, and Swiss National Bank followed suit. Despite the encouraging inflation numbers earlier in the week, a resumption of inflation fears prompted stock investors to sell. The House passed a bill that would allow Puerto Rico to hold a referendum to vote for either US statehood or independence. A mid-week outbreak of more than 50 tornadoes battered 7 states in the South, and, From the Midwest to the Northeast, a massive winter snowstorm left tens of thousands of homes and businesses without power.

Monthly economic statistics released, compared with previous measures, were: federal budget -$249 billion vs. -$191 billion, consumer price index +0.1% vs. +0.4%, CPI year-on-year +7.1% vs. +7.7%, import price index -0.6% vs. -0.4%, retail sales -0.6% vs. +1.3%, retail sales excluding motor vehicles +0.2%vs. +1.2%, industrial production -0.2% vs. -0.1%, capacity utilization rate 79.7% vs. 79.9%, and business inventories +0.3% vs. +0.2%. There were no significant quarterly reports. Weeklies showed initial jobless claims fell to 211,000 from 231,000 and continuing unemployment claims were unchanged at 1.67 million.

Renewed inflation concerns, as mentioned above, were evidenced by the week’s decline in the stock market indices we track here. The DJIA fell 1.7% to 32,920.46, the S&P 500 dropped to 3.852.36 (-2.1%), and the NASDAQ Composite closed at 10,705.41 (-2.7%). The selling was orderly, as indicated by the CBOE VIX, easing to 22.62 at Friday’s close (-0.9%), The dollar continued its downward path as the USD Index futures inched lower to 104.333 (-0.1%). Across the commodity spectrum, bulls defined the moves, as the S&P GSCI portfolio of futures rose to 588.21 (+2.8%).

Despite the inflation narrative’s effect on the stock, metals traders appeared to believe that the demand side would weaken. All six metals futures we monitor moved to the downside. Settlement prices and weekly percentage decreases were: gold at $1,800.20 (-0.6%), silver at $23.328 (-1.6%), platinum at $1,000.00 (-3.5%), palladium at $1,706.60 (-13.3%), copper at $3.7615 (-3.0%) and aluminum at $2,375.00 (-4.3%).

In the energy markets we follow, all but one of the contracts rose throughout the week, and one plunged into the red, the opposite of the prior week; ICE Dutch TTF gas was the outlier again, this time it tumbled 17.0% to €115.451 per MWh. Regarding the other five energy futures on our list, the final results and corresponding percentages looked like this: West Texas Intermediate crude at $74.29 per barrel (+4.6%), Brent crude at $79.04 (+3.9%), heating oil at $3.1199 per gallon (+11.7%), RB gasoline at $2.1323 (+3.7%), and NYMEX natural gas at $6.600 per MMBtu (+5.7%).

The agricultural contracts on our roster of nine products ended the week with a score of two down and seven up. Those in the minus column were: soybeans at $14.83¾ (-0.3%) and cocoa at $2,475 (-1.2%). The gainers were: corn at $6.53 (+1.4%), wheat at $7.53½ (+2.6%), coffee at $1.6440 (+4.0), sugar at 20.09¢ (+2.5%), cotton at 81.92¢ (+1.2%), cattle at 155.775 (+0.1%), and hogs at 85.775 (+2.1%).

 

Futures Referenced in Market Recap

Exchange Commodity Contract Month
CME Live Cattle February
CME Lean Hogs February
CBT Soybeans March
CBT Corn March
CBT Wheat March
ICE Coffee March
ICE Cocoa March
ICE Sugar March
ICE Cotton March
ICE Brent Crude January
ICE Dutch TTF Gas January
ICE USD Index March
NYMEX WTI Crude January
NYMEX ULSD (Heating Oil) January
NYMEX RBOB (Gasoline) January
NYMEX Natural Gas January
NYMEX Platinum January
NYMEX Palladium March
COMEX Gold February
COMEX Silver March
COMEX Copper March
LME Aluminum 3 Mo. Forward

Trading futures and forex involves significant risk of loss and is not suitable for everyone.

Scroll to Top

Privacy Policy

WorldCupChampionships.com (WCC) is committed to protecting your privacy. The information we collect from you comes primarily from requests for more information and includes contact information. It is necessary for us to obtain this information in order to fulfill requests for more information and to provide you with email notification services.  Although we provide secure areas on our site for you to enter your information, you may provide required information over the telephone or via email if you prefer. We maintain physical, electronic, and procedural safeguards to maintain the confidentiality of your information, and use reasonable security methods to protect the data that resides on our servers.

 

Access to information about you is provided only to entities affiliated with WorldCupChampionships.com and to those employees and authorized agents who need to know that information in order to provide requested products and services to you. We will not disclose your personal information to any other source, except when authorized by you or when we believe in good faith that we are required to do so by law or in order to protect our rights or property.

 

We may also disclose your personal information to third parties in the normal course of business, including but not limited to: (i) payment networks, and the members of such networks; (ii) electronic funds transfer networks; (iii) clearing and settlement banks; (iv) service companies that perform business operations for WCC, including but not limited to account statement preparation and mailing services; (v) courts, independent auditors, law enforcement agencies and other governmental authorities, regulatory bodies or agencies in response to subpoenas, to prevent fraud, during the course of an audit or examination or as required by law; and (vi) collection agencies, credit reporting agencies, business credit bureaus or other parties associated in collecting any debt owed to us.

 

Service companies also are prohibited from using personal information for any reason other than to provide the specific products or services intended. WCC reserves the right to transfer personal information in connection with the sale of all or part of its business or assets.

 

We use cookies (small data files containing information) to improve the functionality of our web site and enhance the member experience. The usage information we compile assists us in maintaining and improving our site.

 

WCC limits the collection of data to that which is necessary, and will only use personal data for the legitimate purpose for which the personal data is collected. Upon request, WCC will delete or transfer any personal data with consideration to regulatory restrictions and/or requirements imposed by the NFA (National Futures Association), CFTC (Commodity Futures Trading Commission), FINRA (Financial Industry Regulatory Authority) or other governing bodies and regulatory agencies.

 

All data processing is for a legitimate purpose. For regulatory purposes, WCC retains certain information pertaining to persons who access our system. WCC collects information in order to provide requested information about our services, which primarily includes only name, email address and telephone number. In certain cases we may collect other data used to send customized offers based on information you provide regarding your interests.

 

Periodically, we may invite you to participate in various promotions and offers offered by WorldCupChampionships.com or other sponsoring organizations. Your participation may require us to gather and share your personal information or may require you to provide personal information to the promotion sponsor. Participation in such programs will always be your choice.

 

We are not responsible for the privacy policies or the content of sites we link to and have no control over the use or protection of information provided by you or collected by those sites. Whenever you elect to link to another web site, you may be asked to provide registration or other personal information. Remember, the information you are providing is going to a third party, and you should familiarize yourself with the privacy policy provided by that third party.

 

DATA RETENTION

Information collected may be retained for a period of five (5) years or more, depending on whether the information is transactional, marketing related or falls under requirements set forth by regulatory or government bodies including, but not limited to, the NFA, CFTC, or FINRA.

 

ACCESS TO DATA

Designated personnel have access to personal data stored by WCC. Additionally relevant client designated administrators may be granted access to personal data pertaining to the client’s employees. In some cases third-party vendors of WCC  (such as IT consultants) may need to access this data, however in all cases they will be required to comply with internal WCC Information Security Policies and Procedures.  You have the right to receive from WCC confirmation on whether your personal data has been processed or whether WCC holds your personal data.  Upon request, WCC will provide you with the personal data that WCC has regarding you.

 

RIGHTS AND MODIFICATIONS

WCC respects your rights as a data subject.

 

Transparency, information, and answers to requests: WCC adheres to the principle of transparency in processing.  For any questions regarding this policy, you may contact us at  [email protected] We will respond without undue delay and in any case within one week upon receipt of the request.

 

Access: You have the right to receive from WCC confirmation on whether your personal data has been processed or whether WCC holds your personal data.  Upon request, WCC will provide you with the personal data that WCC has regarding you.

 

Rectification: You have the right to require the rectification of inaccurate data relating to you without undue delay, as well as incomplete data if necessary for processing.

 

Erasure: You have the right to ask for the erasure of personal data concerning you without undue delay.  WCC will not proceed with the erasure of personal data if the data must be maintained for a legal obligation or in cases where the processing is required for the establishment, exercise or defense of legal claims.

 

Restriction of Processing: You have the right to request a restriction of processing if the accuracy of personal data is disputed, for that period of time that allows WCC to verify the accuracy of personal data or based on any other legitimate reason specified in applicable Data Protection Laws.

 

Data Portability: If technically feasible, you have the right to receive your personal data in a structured, commonly used and machine-readable fashion as well as the right to request the direct transmission of personal data by WCC to another party.

 

Right to Object: If you receive promotional emails, you can remove yourself from the recipient’s list by selecting the “unsubscribe” link within the email content.

 

Complaint to Supervisory Authority: You have the right to lodge a complaint with a supervisory authority, in particular in the country of your habitual residence, place of work or place of the alleged infringement if you consider that the processing of your personal data infringes Data Privacy Laws.

We may amend this privacy statement at any time, and will post the amended version on our website www.worldcupchampionships.com.

 

YOUR CONSENT

Your choice to use our website, enter our trading competitions, and/or to allow the downloading of cookies via your browser constitutes consent to this policy and consent to the use of your information as described.

 

GDPR COMPLIANCE

Our GDPR Compliance Statement is incorporated into this Privacy Policy.

Besides strengthening and standardizing user data privacy across the EU nations, GDPR imposes new or additional obligations on all organizations that handle EU citizens’ personal data, regardless of where the organizations themselves are located.

 

You have complete control over the emails you receive from us. WCC provides various notifications via email, including service-related communications, account-related notifications, informational messages, and other updates through a third-party provider. Subscribers may discontinue email communications by responding with “unsubscribe” in the subject line or clicking on the unsubscribe link in email communications.

 

It is your responsibility to maintain the accuracy and completeness of your account information.  You may also contact us at [email protected] or call us at 877-456-7111 to inquire about or update your account information.