Weekly Market Recap – October 29, 2021

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Weekly Market Recap – October 29, 2021

Heads of state converged on Rome for the annual G-20 meeting. Prior to the start of the summit, President Biden paid a visit to the Vatican to meet with Pope Francis. The FDA authorized Pfizer’s COVID-19 vaccine for children 5-11.

Monthly economic statistics released during the week, compared with the prior reports, were as follows: The consumer confidence index 113.8 vs. 109.8, new home sales 800,000 vs. 702,000, durable goods orders -0.4% vs. 1.3%, pending home sales index -2.3% vs. 8.1%, nominal personal income -1.0% vs. 0.2%, real disposable income -1.6% vs. -0.2%, nominal consumer spending 0.6% vs. 1.0%, real consumer spending 0.3% vs. 0.6%, and core inflation 0.2% vs. 0.3%. The S&P/Case-Schiller home price index for August (year over year) rose 19.8%, unchanged from the rise reported for July. The weekly initial jobless claims were 281,000 vs. 291,000. Quarterly reporting of gross domestic product for Q3 was 2.0% vs. 6.7%.

October’s stock market moves ended with the major indices closing at record highs on Friday: Dow Jones Industrial Average at 35,819.56 (+0.4%), S&P 500 at 4,605.38 (+1.3%), and the NASDAQ Composite at 15,498.39 (+2.7%). The CBOE VIX indicated an increase of volatility, closing at 16.26 (+5.4%). The U.S. Dollar Index crept higher to 94.13 (+0.6%), and the S&P GSCI eased to 588.20 (-0.3%).

All of the seven metal futures we track here ended in the minus column. The final prices were: gold at $1,783.90 (-0.7%), silver at $23.949 (-2.0%), platinum at $1,020.70 (-3.0%), palladium at $1,980.30 (-2.7%), and copper at $4.3680 (-2.9%). Aluminum dropped 5.3%, with the LME Friday settlement at $2,716.50 per metric ton, its lowest end-of-week closing price since late August.

The energy products on the slate we monitor here also had losses across the board. Their settlements and percentage changes were as follows: WTI crude at $83.57 per barrel (-0.2%), Brent crude at $83.72 (-1.1%), ultra-low sulfur diesel fuel at $2.4787 per gallon (-1.7%), and RBOB gasoline at $2.3697 (-1.9%) and natural gas at $5.426 per mmBtu (-0.6%).

Of the nine agricultural contract prices we report, eight advanced, and one retreated. The one in the red was cocoa, finishing at $2,544 per metric ton (-1.5%). The gainers were: soybeans at $12.35¾ (+1.2%), corn at $5.68¼ (+5.6%), wheat at $7.72¾ (+2.2%), coffee at $2.0395 (+2.1%), sugar at 19.27¢ (+1.0%), cotton at 114.85¢ (+6.1%), live cattle went out at 129.275 (+0.7%), and lean hogs closed at 76.075 (+3.8%).

 

Futures Referenced in Market Recap

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

 

Current Standings​

2021 World Cup Championship of Futures Trading®
RANK NAME NET RETURN LOCATION
1 Kevin S McCormick 241.8% United States
2 Lisa Chen 146.8% Canada
3 Jürg Diemand 127.1% Switzerland
4 Marek Chrastina 96.5% Slovakia
5 Graeme Adams 86.3% New Zealand

January 1, 2021 – November 30, 2021


2021 World Cup Championship of Forex Trading®​
RANK NAME NET RETURN LOCATION
1 Lorenzo Misino 405.5% Italy
2 Raul Glavan 232.1% Germany
3 Patrick Nill 229.2% Germany
4 Sergey Shirko 189.2% Latvia
5 Cristian Franchi 169.4% Italy

January 1, 2021 – November 30, 2021


2020-2021 Global Cup Trading Championship​
RANK NAME NET RETURN LOCATION DIVISION
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

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.

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