Latest news with #futures
Yahoo
6 hours ago
- Business
- Yahoo
Cboe Files for New Generic Listing Standards for Crypto ETPs
The Chicago Board Options Exchange filed for Generic Listing Standards for crypto exchange-traded products on Wednesday—a move that could make a big difference for fund issuers. If the filing is approved, any coin that has futures tracking it for at least six months on Coinbase's derivatives exchange would be approved, Bloomberg Senior ETF Analyst Eric Balchunas said via X. The filing is still subject to comment and review, but could be on a path to finality in less than 60 days, Greg Xethalis, general counsel at crypto investing firm Multicoin Capital, said in a post on X. He added that the New York Stock Exchange and Nasdaq exchange will likely follow in the footsteps of Cboe shortly. What the Generic Listing Standards Could Mean 'The new rule allows an issuer's shares to be listed on an exchange if the underlying commodity to which exposure is given has a contract on a Designated Contract Market for at least 6 months,' Xethalis said. It would also make the possibility of staking—a process in which crypto investors can earn rewards for their transactions—easier via a rule that would require a liquidity risk management program if less than 85% of the assets are available for immediate redemption, per the filing. Solana ETPs, which must be approved by Oct. 10, would qualify this fall under the Generic Listing Standards if they're approved by the agency, Xethalis said. The SEC Is Sitting on Crypto ETP Applications The crypto industry is eagerly awaiting approvals on crypto-related exchange-traded products. 'People have to be patient,' SEC Commissioner Hester Peirce recently said in an interview with Bloomberg's Trillions podcast. 'The SEC could choose to act directly on those ETP 19b-4s before the Oct. 10 Solana deadline and the slightly later XRP deadline, or could run these out under GLS,' Xethalis said. Balchunas said that the process of launching ETFs related to newer alt coins that don't have futures or meme coins would need to come from a different | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 hours ago
- Business
- Yahoo
Divergence in Copper- Can LME Copper Catch Up with COMEX Copper?
In a May 16, 2025, Barchart article on copper, I concluded: We witnessed another in a long series of golden buying opportunities when copper prices fell to the April 7 low and held above their critical technical support level. Technical and fundamental factors favor higher copper prices, but even the most aggressive bull market trends rarely move in straight lines, and copper is no exception. Expect lots of volatility in the copper futures, forwards, and the CPER ETF. High price variance creates many trading opportunities. More News from Barchart Dollar Rallies and Gold Sinks as Powell Pushes Back Against Rate Cuts Solid US Economic Reports Boost the Dollar Dollar Gains as US Economic Strength Dampens Fed Rate Cut Expectations Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Nearby COMEX copper futures were at the $4.5740 per pound level on May 16, and have moved far higher to a new record peak in July 2025. The CPER ETF was at $28.57 in mid-May and has gone along for the bullish ride. Meanwhile, LME forwards were at $9,577 per metric ton on May 15, and although they have appreciated, they have not yet reached a new record peak. Tariffs remain a critical factor for the copper market in late July 2025. New highs in COMEX copper futures After falling from a new all-time continuous contract high of $5.3740 per pound in March 2025 to just above the $4 technical support level after the April 2, 2025, tariff announcements excluded copper, the COMEX futures rallied back to the $5 level by the end of June 2025. The monthly chart shows that copper futures surged to a new record high of $5.9585 in July, following President Trump's announcement of a 50% tariff on the red nonferrous metal. At above $5.60 per pound in late July, copper remained above the previous March 2025 all-time peak. LME copper forwards rise, but remain below the 2024 peak The world's most liquid copper forward market on the London Metals Exchange moved higher and lower with the COMEX futures but has not yet challenged the May 2024 all-time high. The monthly three-month LME forward chart shows that copper forwards reached $10,110.49 per ton in March 2025, which was below the record May 2024 high of $11,104.50. After falling to $8,105 in April 2025, the forwards rallied to $10,020.50 per metric ton in July, below the peaks in March 2025 and May 2024. The copper forwards were below the $9,800 level on July 28. Tariffs cause price distortions- Copper is a case study on the trade barriers COMEX copper warehouses are in the U.S., while LME copper warehouses are in the United Kingdom and other countries. Tariffs are trade barriers that distort prices, creating locational premiums and discounts. The divergence between COMEX futures and LME forward copper prices serves as a case study in the impact of tariffs. Over the past few months, LME warehouse stocks have declined, while COMEX stockpiles have grown, as the market prepared for copper tariffs. The lead-up to the tariff announcement in March pushed the COMEX futures to new highs, while the initial April 2 exclusion caused the COMEX futures to plunge. The 50% tariff announcement sent the futures to new record highs. While the price action in the futures market caused rallies and declines in the LME copper market, the forwards have remained below the May 2024 record high throughout 2025. The fundamentals continue to support higher copper prices Supply and demand fundamentals continue to support higher copper prices for the following reasons: Global copper demand is rising as the red metal is a critical input in green energy initiatives. China is the world's leading consumer of refined copper. Any improvement in the Chinese economy will only increase the demand side of copper's fundamental equation. It takes the better part of a decade to bring new copper mines into production. Many of the new mines are located in politically challenged countries, such as the DRC, the Democratic Republic of the Congo, and Indonesia, which creates production, logistical, and other roadblocks. Copper's bull market began decades ago, and the price continues to make higher lows and higher highs. When technical and fundamental factors are bullish, the price action can turn explosive, as we have witnessed in the COMEX futures. The trade barriers have only accelerated and exacerbated the rallies and price volatility over the past months. CPER tracks the copper futures At $34.87 per share, the U.S. Copper ETF product (CPER) had over $230.4 million in assets under management. CPER trades an average of 273,011 shares daily and charges a management fee of 0.88%. Continuous COMEX copper futures rallied 47.9% from $4.03 on April 7 to $5.9585 on July 24, 2025. The chart highlights a 43% rally in the CPER ETF, which moved from $25.65 to $36.69 per share over the period. Over around the same period, the LME three-month forwards increased by 23.63% from $8,105 to $10,020.50 per metric ton. While CPER tracks the futures prices, the ETF only trades during U.S. stock market hours, so it may miss highs or lows that occur when the stock market is closed. Copper remains in a bullish trend as of late July 2025, with both fundamental and technical factors indicating higher prices. While copper prices could experience future volatility, keep an eye on the differential between the LME forwards and the COMEX futures. If the spread begins to narrow, it will further validate the fundamental strength of copper. On the date of publication, Andrew Hecht did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
13 hours ago
- Business
- Yahoo
Powell Is Standing His Ground on Interest Rates. That's Bad News for the Euro.
December Euro currency futures (E6Z25) present a selling opportunity on more price weakness. See on the daily bar chart for the December Euro currency futures that prices are trending down and this week hit a two-month low. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bearish posture as the red MACD line is below the blue trigger line and both lines are trending down. More News from Barchart Morgan Stanley Says Nvidia Has 'Exceptional' Strength. Should You Buy NVDA Stock Here? Dear MicroStrategy Stock Fans, Mark Your Calendars for July 31 2 Growth Stocks Wall Street Predicts Will Soar 74% to 159% Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Fundamentally, the U.S. dollar index ($DXY) is surging amid better U.S. economic reports recently, and with Federal Reserve Chair Jerome Powell Wednesday standing his ground regarding keeping U.S. interest rates steady. The marketplace is also viewing the U.S.-European Union trade deal as favoring the U.S. A move in the December Euro currency futures below chart support at this week's low of 115.03 would become a selling opportunity. The downside price objective would be 1.1000, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.1700. IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you. On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
16 hours ago
- Business
- Bloomberg
Wheat Holds Near May Low, Weighing Strong Dollar and US Exports
Wheat futures traded near the lowest level since May as traders weighed the dollar's recent strength against upcoming US export figures. A recovery in the value of the dollar this month has been 'undermining the competitiveness of US exports such as grains, and weighing on Chicago prices,' CRM AgriCommodities analysts wrote in a note.
Yahoo
16 hours ago
- Business
- Yahoo
Gold price today, Thursday, July 31, 2025: Gold dips and recovers after Fed meeting
Gold (GC=F) futures opened at $3,327.50 per ounce Thursday, up 1% from Wednesday's close of $3,295.80. The last time gold closed below $3,300 was June 30, 2025. On Wednesday, the Fed policy meeting concluded with no interest rate change. The Fed's next chance to lower interest rates will be September 17. Between now and then, two inflation reports and two employment reports will provide more clarity on how the economy is responding to President Donald Trump's tariffs. CME FedWatch indicates a 39.2% chance of a rate reduction in September, down from 75.4% a month ago. Lower interest rates can benefit corporate earnings and stock prices, which can make gold less attractive to investors. Trump tariffs live updates: Trump lifts tariff baseline rate, warns countries face 15-50% range Current price of gold The opening price of gold futures on Wednesday is up 1.8% from Tuesday's close of $3,323.40 per ounce. Wednesday's opening price marks a decline of 1.4% over the past week, compared to the opening price of $3,430.30 on July 23. In the past month, the gold futures price has gained 3.6% compared to the opening price of $3,265.90 on June 30, 2025. In the past year, gold is up 42.1% from the opening price of $2,380.90 on July 30, 2024. Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week. Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria. How to invest in gold The opening price of gold futures on Thursday is up 1% from Wednesday's close of $3,295.80 per ounce. Thursday's opening price marks a decline of 1.2% over the past week, compared to the opening price of $3,367 on July 24. In the past month, the gold futures price has gained 0.5% compared to the opening price of $3,310.10 on July 1, 2025. In the past year, gold is up 38.2% from the opening price of $2,407.10 on July 31, 2024. Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week. Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria. How to invest in gold Investing in gold is a four-step process: Set your goal. Set an allocation. Choose a form. Consider your investment timeline. After deciding why you want to invest in gold and selecting the size and form of your gold investment, consider your investment timeline as a final suitability check. Gold can be volatile. It has demonstrated extended periods of decline in the past. Extended periods of decline are not acceptable if your timeline is short. The risk is too great that gold's price will be down when you need to liquidate. An extended holding period provides greater potential for reaching your investment goals. As an example, hedging against stock market declines or inflation is a long-term effort. These outcomes will continue to be risks as long as you own stocks or cash deposits. Holding gold as insurance against an economic calamity requires you to keep the asset until you need it. Learn more: How to invest in gold in 4 steps Gold as a safety net A small gold position can act as a stabilizer for your stock portfolio and your purchasing power. If you choose physical gold stored at home, it can also stand in as currency in the worst of economic crises. Just know that gold has underperformed stocks in the past, so choose your target allocation accordingly. Learn more: What to know before buying gold, silver, or platinum from Costco Price-of-gold chart Whether you're tracking the price of gold since last month or last year, the price-of-gold chart below shows the precious metal's steady upward climb in value. Historic price of gold Historically, gold has shown extended up cycles and down cycles. The precious metal was in a growth phase from 2009 to 2011. It then trended down, failing to set a new high for nine years. In those lackluster years for gold, your position will negatively impact your overall investment returns. If that feels problematic, a lower allocation percentage is more appropriate. On the other hand, you may be willing to accept gold's underperforming years so you can benefit more in the good years. In this case, you can target a higher percentage. The precious metal has been in the news lately, and many analysts are bullish on gold. In May, Goldman Sachs Research predicted gold would reach $3,700 a troy ounce by year-end 2025. That would equate to a 40% increase for the year, based on gold's January 2 opening price of $2,633. Rising demand from central banks, along with uncertainty related to changing U.S. tariff policy, are the factors driving the increase. If you are interested in learning more about gold's historical value, Yahoo Finance has been tracking the historical price of gold since 2000.
