CONCLUDED Stocks End in Green to Close an Ugly November Last Updated: 9 hours ago Gold Futures Disrupted by CME Outage But Rate- Cut Hopes Boost Sentiment By Giulia Petroni, Dow Jones Newswires An outage at exchange operator CME halted gold futures trading, with prices frozen at $4,221.30 a troy ounce. "Trading could be more volatile than usual today, as U.S. markets open for a half day and liquidity is likely to be thin," Kathleen Brooks from XTB said. "Added to this, a disruption on the CME trading exchan ...

Core Insights - CME Group has temporarily halted trading on its Globex platform due to a cooling issue at CyrusOne data centers, affecting a wide range of contracts including stocks and cryptocurrencies [1][2]. Group 1: Trading Impact - The outage has impacted all futures and options contracts on the Globex platform, including major currency pairs, crude oil, and palm oil contracts [2][4]. - Traders have expressed frustration, describing the situation as a "nightmare," with some requesting the cancellation of losses from stuck trades [3][4]. Group 2: Market Conditions - The trading halt occurred during a period of low liquidity in Asia, exacerbated by the U.S. Thanksgiving holiday, which has made market conditions more challenging [5]. - Bitcoin has seen a slight decrease of 0.55% to $90,896, despite an 8.32% weekly gain, influenced by a $13.4 billion BTC options expiry squeeze [6].

Group 1 - CME Group Inc. is a leading entity in global finance, having evolved from historic exchanges into a unified powerhouse for derivatives trading [1] - The company operates a flagship electronic platform, CME Globex, which provides instant access, price discovery, and risk management across various markets, with a market capitalization of approximately $101.3 billion [2] - CME has established itself as a large-cap company, reflecting its influence and infrastructure in the global derivatives ecosystem, particularly in risk management across multiple asset classes [3] Group 2 - CME stock reached a 52-week high of $290.79 on June 2, and while currently about 3.1% below that peak, it has shown resilience with a 3.4% gain over the past three months [4] - Year-to-date, CME stock has increased by 20.9% and has surged 19.8% over the past 52 weeks, slightly outperforming the Nasdaq Composite's YTD gains of 20.2% [5]

Group 1 - The core issue is a data-center problem that caused a halt in trading futures and options on the Chicago Mercantile Exchange (CME), leading to thin liquidity in forex and bonds markets [1] - The outage also impacted forex trading on the EBS platform, which is part of the CME Group, further contributing to the liquidity issues [2] - The situation is worsened by low liquidity conditions following the U.S. Thanksgiving holiday, indicating potential for choppy trading in the near term [1]

Core Points - Trading in U.S. index futures and other contracts was halted due to technical issues at CME Group, impacting investor sentiment ahead of the market's reopening after Thanksgiving [1][2][3] Group 1 - CME Group experienced disruptions in trading due to a cooling issue at CyrusOne data centers, which affected futures tracking major indexes like the Dow Jones Industrial Average, S&P 500, and Nasdaq-100 [2][3] - The halt in trading occurred on Black Friday, a significant day for market activity, as investors were looking to gauge sentiment [1][2] - CME Group stated that support teams are working to resolve the issue and will provide updates to clients regarding pre-open details [3]

Core Viewpoint - Chicago Mercantile Exchange (CME) experienced a pre-market drop of over 2%, trading at $274.73 due to cooling issues at the CyrusOne data center, which led to the suspension of real-time trading in commodity futures and options [1] Group 1 - The cooling problem at the CyrusOne data center is impacting trading operations at CME [1] - Support teams are working to resolve the cooling issue as quickly as possible [1] - Multiple contracts, including crude oil and palm oil, were affected during the Asian early trading session [1]

Core Points - CME Group, the world's largest exchange operator, experienced a significant outage affecting its popular currency platform and futures trading across various asset classes, including forex, commodities, U.S. Treasuries, and equities [1] - The outage was attributed to a cooling system issue at the CyrusOne data center, with CME stating efforts are underway to resolve the problem in the short term [1] - As of the report, futures prices for WTI crude oil, 10-year U.S. Treasuries, S&P 500, Nasdaq 100, Nikkei, palm oil, and gold were not updated, indicating a widespread impact on trading [2] Group 1 - The outage left brokers in a "blind flying" state, as they lacked real-time quotes, leading to reluctance in trading contracts, particularly in the spot gold and silver markets, which experienced severe volatility due to liquidity issues [3] - Traders expressed frustration over the disruption, especially those needing to roll positions from one month to another, highlighting the complexity of the situation for derivatives trading [5] - CME's recent outage is notable as it follows over a decade since its last major failure, which occurred in April 2014 due to technical issues that halted electronic trading for some agricultural contracts [6] Group 2 - The incident occurred during a period of low trading activity in Asian markets post-Thanksgiving, exacerbating the situation as traders were already facing a volatile month-end [7] - CMC Markets withdrew some commodity contracts and relied on internal data for quotes, indicating a shift in trading strategies due to the outage [6] - CME reported an average daily volume of 26.3 million contracts for derivatives in October, underscoring the significance of the exchange in the financial markets [6]

Core Viewpoint - The Chicago Mercantile Exchange (CME) suspended its futures and options trading due to a cooling system issue at its data center operator, CyrusOne, with a commitment to update clients on reopening arrangements [2] Group 1: Impact on Trading - The trading halt affected various contracts, including U.S. crude oil futures and palm oil [2] - The Malaysian exchange confirmed a simultaneous suspension of its derivatives market, as it relies on CME's electronic trading platform for matching [2] Group 2: Market Data - Prior to the trading suspension, near-month WTI crude oil futures were priced at approximately $59 per barrel, while Brent crude oil futures were around $64 per barrel [2] Group 3: CME Group Overview - CME Group is one of the largest derivatives market operators globally, encompassing major international trading platforms such as the New York Mercantile Exchange, Chicago Board of Trade, and COMEX [2]

记者｜ 齐琦 针对系统故障，芝商所相关负责人回应第一财经："由于CyrusOne数据中心发生制冷问题，我们的市 场目前已暂停交易。技术支持团队正努力在短期内解决该问题，并将开市前的详情（如恢复交易时间、 订单处理方式等）确定后尽快通知客户。" 当地时间11月28日（周五）上午，芝商所因CyrusOne数据中心出现冷却问题，导致商品期货和期权 交易暂停。 编辑 ｜ 钉钉 ...

Market Overview - US markets are facing a futures trading outage due to a cooling issue at CME Group, impacting equities, treasuries, and commodities trading [2][4] - November has been a volatile month for equities, with significant moves in European tech, healthcare, and defense sectors, as fears of an AI bubble have emerged [5][6] - The European stock market managed to achieve gains in November, marking the fifth consecutive positive month for the stock 600 index [6] Sector Performance - The healthcare sector performed best in November, with notable gains from companies like Roche and Bayer, driven by strong trial data [6][7] - Roche's stock rose nearly 20% after a successful breast cancer drug trial, while Bayer had its best day since 2009 due to an anticoagulant drug study [7] - Conversely, tech stocks faced declines, with ASML down over 15% amid a broader selloff in AI-related stocks [8] AI and Investment Outlook - AI is expected to remain a structural growth theme through 2026, although concerns about overinvestment and electricity shortages could temper expectations [10][15] - Investment in data centers and the entire AI value chain is crucial, with approximately 35% of S&P 500 earnings being allocated to this area [14] - The market is anticipated to experience volatility in AI trends, but setbacks may present buying opportunities [15] Economic and Fiscal Policy - The US economy is projected to benefit from fiscal policies and central bank rate cuts, which are generally positive for market conditions [18][22] - Germany's growth forecast for 2026 is estimated at 1.3% to 1.5%, with expectations of improved market sentiment if fiscal policies are effectively implemented [27][30] Emerging Markets - The Indian stock market is showing strong growth potential, while China's growth is cooling but remains above 4% [43] - Asia is expected to attract substantial investment, with potential for better performance than Europe and the US in the coming year [45] Gold Market - Gold prices are forecasted to rise to $4,500, driven by demand from central banks and retail investors, as well as concerns over currency diversification [40][41]