Weekly Market Recap – October 16, 2020

In the Markets

Coronavirus cases are surging in Europe, and with the weather cooling, the US braces for a new wave of infections. At least nine states are reporting record numbers of new cases, and thirteen states have positivity rates in excess of 10%. The Labor Department reported 898,000 new jobless claims, the highest since mid August. The total number of workers receiving unemployment (federal and state) benefits is 25.3 million. Retail sales for September rose 1.9%, as consumers bought vehicles, clothing and sporting goods. Industrial production was down 0.6%. On Friday, the Treasury Department reported a $3.1 trillion budget deficit for the fiscal year ending September 30th. This gap, as a percentage of economic output, was 16.1%, the largest since 1945, when the US was financing the costs of World War II.

NOAA reported that September 2020 was the warmest September on record since the recording of global temperature began in 1880. The California Department of Forestry and Fire Protection reported that more than 4 million acres of forested land have been destroyed so far this fire season, a greater amount of acreage than the state of Connecticut. The stimulus standoff remains unresolved. Early voting for the national election is breaking records. More than 22 million people have already cast ballots, 19% of the total who voted in 2016.

The DJIA inched up 19.41 (+0.1%), closing at 28,606.31 on Friday. The S&P 500 added a mere 6.68 points, ending at 3,483.81 (+0.2%), and the NASDAQ Composite marked a 0.8% rise, up 91.62 for the week to 11,671.56 at the close. Of the indices we include in this recap, only the Russell 2000 is having a negative year-to-date move, though barely (-1.5%). For the weekly change, it slipped 0.26 points (-0.2%) ending at 131.13 on Friday. The CBOE Volatility index closed at 27.41, up 9.6%. In global currency markets, the US dollar firmed slightly; the spot Dollar Index gained 0.7% (+0.66 points) ending at 93.72 on Friday. In the commodity segment of the financial markets, the S&P GSCI gained only a bit more ground (+0.6%), adding 2.03 to its 362.60 final print of the week, its highest Friday settlement since February 21st.
The metals sector moved mostly lower, as gold futures shed $19.80 (-1.0%), ending at $1,906.40 per troy ounce. Silver decreased $0.703 (-2.8%) to its $24.405 settlement price. Platinum and palladium suffered selloffs, as well. The former fell $25.00 (-2.8%) to its $869.30 close, while the latter dropped to $2,342.30 (-4.9%) with a loss of $120.90 in the December contract. The base metals that we cover in our recap were mixed. Copper eased 1.68¢ (-0.5%) to close at $3.0657 per pound. LME aluminum for 3-month delivery moved to the plus side by $29.00 dollars per ton, ending at $1,870.50 (+1.6%), a 17-month high. Aluminum demand from China has been robust by the transportation, construction and packaging industries.

Crude oil prices nudged a bit higher during the week. November WTI closed at $40.88, which was up 28¢ (+0.7%). ICE Brent was up 0.2%, adding 8¢ to settle at $42.93 per barrel. Refined products took the opposite tack, with heating oil losing 1.42¢ to close at $1.1791 (-1.2%), while RBOB gasoline retreated 3.44¢ per gallon, settling at $1.1688 (-2.9%). Natural gas was higher for the week, up 3.2¢ (+1.2%), ending at $2.773 per MMBtu.
The agricultural commodity markets covered in this recap were mixed. Soybeans corrected 15½ ¢ (-1.5%) to close at $10.50 per bushel. The December corn contract rose 7¢ (+1.8%) to a $4.02 settlement price. Wheat advanced 8½ ¢ (+1.4%) ending at $6.02¼ for the week. On the ICE US, coffee ticked down 4.30 on the week (-3.9%), settling at $1.0725 per pound. Sugar improved again, rising 0.20 (+1.4%) closing at 14.43, the highest end of week value since February 26th. Cocoa had a $71 setback, settling at $2,361 (-2.9%). Cotton keeps marching upward, as it rallied 2.28¢ (+3.4%) to 69.92 in the December contract, its highest end of week close since late January. Livestock prices diverged. Hogs continued making highs as prices firmed again, gaining 2.675 (+4.0%) to a 69.800 settlement, the highest weekly close for the year in the December contract. Cattle ended at 108.625, after a 3.975 dive (-3.5%), possibly attributed to weak beef export reports from the USDA.


World Cup Trading Championships®

In Futures, Stefan Seibert climbed to first with a net return of 347.6%, taking the spot from Michael O’Keeffe who has held the top position for the past 26 weeks and now has a 347.1% net return.  Yuwen Cao remained in 3rd with a net return of 248.1%. Paige Williams and Evgeny Kartashov rounded out the top 5 with net returns of 209.5% and 165.8% respectively.

In the Forex division, Patrick Nill held the top spot with a 245.6% net return. Raul Glavan remained in 2nd at 154.2% net return, with Jan Smolen in 3rd with a net return of 104.2%. Sergey Shirko and Scott Welsh rounded out the top 5 with net returns of 93.8% and 81.3% respectively.

In the futures division of the 2020-2021 Global Cup Trading Championship,  Stefan Seibert maintained first with a net return of 148.8%, with M. Vontobel of Tirutrade AG in 2nd with a 108.9% net return. 3rd place is currently held by Tobias Baerlin with a net return of 73.7%. Adrian Koemel and Fernando C. Piñeiro finished the week in 4th and 5th with 59.1% and 37.3% net returns respectively.

 

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.

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  info@worldcupchampionships.com. 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 info@WorldCupChampionships.com or call us at 877-456-7111 to inquire about or update your account information.