During the month of November, the leading sectors were Metals (+9.37%) and Indices (+5.29%). The bottom sectors were led by Crypto (-19.96%) and Energies (-2.47%); with Crypto hit relatively hard by the FTX fiasco. With the Fed hinting towards signaling a slow down in interest-rate hikes, the market has trended upwards. In October, Metals were down -2.09% MTD and Softs were at -5.08% MTD for a big reversal of +9.37% in Metals and +5.29% in Indices. In the midst of the holiday season with an upwards market trend in late November, an upward continuation is expected. The Fed will be meeting next on Tuesday, December 13th, with the expectation of announcing a 50 Basis point rate-hike.
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Sector & Index Performance Consists of the following:
Grains: Corn, Soybean Meal, Oats, Soybeans, Soybean Oil, Wheat, Rough Rice. Livestock: Live Cattle, Feeder Cattle, Lean Hogs. Softs: Cocoa, Orange Juice, Sugar No. 11, Random Length Lumber, Coffee, Cotton No. 2. Currencies: Euro Currency, Japanese Yen, British Pound, Canadian Dollar, Swiss Franc, US Dollar, Brazilian Real, Mexican Peso, Australian dollar. Indices: S&P 500, Mini Dow, Mini Nasdaq. Interest Rates: 30-year t-bond, 10-year t-note, 5-year t-note, Eurodollars. Metals: Gold, Silver, Copper, Platinum, Palladium. Energy: Crude Oil, Reformulated Gas, Natural Gas, Heating Oil, Denatured Fuel Ethanol. Crypto: Bitcoin and Ethereum. S&P 500 Index – All data collected from investing.com. S&P GSCI Index – data collected from us.spindices.com/indices/commodities/sp-gsci.