Track market-moving stories before they get noisy

Year four of Wall Street's bull market didn't disappoint. The artificial intelligence (AI) infrastructure build-out lifted the Dow Jones Industrial Average (^DJI +0.02%), S&P 500 (^GSPC -1.21%), and Nasdaq Composite (^IXIC -2.60%) to several record highs throughout 2026.

But expecting the Dow, S&P 500, and Nasdaq Composite to head higher amid persistently elevated inflation is a tall task. Fed Chair Kevin Warsh and the Federal Open Market Committee (FOMC) have quite the challenge on their hands in delivering price stability. Unfortunately, the latest inflation update for October hasn't done policymakers or Wall Street any favors.

Fed Chair Kevin Warsh and the FOMC may raise rates multiple times in 2027. Image source: Official Federal Reserve Photo.

The Fed's October inflation update is a double whammy for stocksThough there's no perfect inflation prediction tool, the Federal Reserve Bank of Cleveland's Inflation Nowcasting tool comes pretty close. The Cleveland Fed's tool provides daily forecasts for current- and forward-month inflation that are updated after the release of relevant economic data.

As of Oct. 20, forecasts for two key inflation measures were headed in the wrong direction.

For starters, we know the Consumer Price Index (CPI) reaccelerated to an annualized 3.7% in September. The Cleveland Fed's inflation tool predicts further acceleration to 3.77% in October. Rapidly rising fuel costs, caused by the ongoing closure of the Strait of Hormuz, likely explain why headline inflation is heading higher.

Price changes over last year (September CPI report) Fuel Oil: +74.0% Gasoline: +34.2% Gas Utilities: +5.0% Electricity: +4.4% Overall CPI: +3.7% Food away from home: +3.5% Apparel: +3.4% Shelter: +3.2% Transportation: +2.7% Medical Care: +2.5% Food at home: +1.8% New Cars: +0.6% Used Cars: -1.5%

— Charlie Bilello (@charliebilello) October 14, 2026 What's arguably even more worrisome is the projection for Core Personal Consumption Expenditures (PCE). Core PCE excludes volatile food and energy costs, providing a comprehensive look at long-term price trends.

After three consecutive months of Core PCE standing pat at 3%, the Inflation Nowcasting tool predicts a steady reacceleration to 3.05% in September (Core PCE for September will be released on the 30th) and 3.13% in October.

The projected uptick in Core PCE suggests that the U.S. economy is dealing with more than just an energy supply shock. Businesses altering their shipping routes and shifting suppliers due to the Iran war are just some of the added costs now affecting the broader economy.

Image source: Getty Images.

The odds of multiple FOMC rate hikes are climbing, and that's terrible news for stocksWith headline inflation topping the Fed's long-term 2% target for 67 months (and counting), Fed Chair Warsh hasn't minced his words about delivering price stability. On Sept. 16, Warsh and 11 other FOMC members voted unanimously to raise interest rates by a quarter point to 3.75%-4.00%.

With both headline inflation and Core PCE, the latter of which is one of the Fed's preferred price gauges, continuing to move in the wrong direction, the odds are increasing that policymakers will undertake several rate hikes over the next year.

Two years ago, when the Fed started lowering rates, 10 policymakers thought rates would eventually settle out below 3%, compared to 7 who thought rates would settle out above 3%. Two were right at 3%. Today, just one policymaker wrote down a "long-run" rate projection below 3%, while 11 think it is higher than 3%. Six think it is 3%. While it is usually hard to get worked up about the very-far-out years in the SEP (because it is mostly illustrative, ie., they simply show inflation coming down to 2% and rates converging at the long-run neutral estimate), the projections for 2029, included in today's table, are notable because they show more than half of the 17 people who submitted a projection think rates will stay at or above 3.6% (the level they've been at all year, before this week's increase) to get inflation down to 2%. It underscores how risks to the long-run rate estimate are to the upside.

— Nick Timiraos (@NickTimiraos) September 17, 2026 According to the CME Group's (CME +3.45%) proprietary FedWatch Tool, which uses 30-day Fed Funds futures to track the probability of changes to the federal funds target rate, there's a 72% probability that interest rates will rise by at least 75 basis points to 4.50%-4.75% by Sept. 15, 2027.

An aggressive Fed rate-hiking cycle would be awful news for a historically expensive, AI-driven bull market. If borrowing becomes costlier and the AI infrastructure build-out slows, even slightly, this could be enough of a catalyst to send a pricey stock market lower rather quickly.

Uniswap surged 220% over the summer, landed a historic Wall Street futures listing, and then started bleeding out in October. Whether UNI can claw back to $10 depends on a fragile set of conditions falling into place at once.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Uniswap (CRYPTO:UNI) needs to climb 40.6% to reach $10, a level it last closed above on September 22, 2026. Uniswap is trading at $7.11, down 4.8% in the last 24 hours and 19.9% over the past month, making UNI one of the weakest large tokens in October.

Traders often refer back to the $10 mark because UNI closed at $10.22 when CME Group (NASDAQ:CME | CME Price Prediction) announced it would list UNI futures. Although trading in these contracts began on October 19, UNI kept declining. Since the sell-off in early October, the price has fluctuated between $7.89 on October 11 and $6.74 on October 13.

So, can UNI bounce back to $10, and what would it take?

UNI Has Failed to Hold Above $10 Twice in a Year

UNI is the governance token for Uniswap, a decentralized exchange that lets users swap cryptocurrencies directly from their wallets without a central authority. Token holders vote on how the protocol operates.

Over the past year, $10 has been a significant barrier. UNI briefly touched $10.29 on November 11, 2025, but closed at $8.25 that day. It reached $10.93 on September 23, 2026, before closing at $9.24. It last traded above $10 on September 27 at $10.19, but sellers quickly pushed it back below that level each time.

On a longer view, a return to $10 seems modest, especially since UNI trades 84.2% below its all-time high and has declined about 73.5% from $26.78 on October 23, 2021. A move to $10 would only take UNI back to its September highs.

CME Futures Brought In New Buyers and Gave Funds a Way to Short UNI

UNI is the first DeFi token to be listed on CME futures. DeFi, or decentralized finance, lets users trade and lend without banks, while futures contracts are agreements to buy or sell an asset at a predetermined future price.

A standard futures contract covers 10,000 UNI, worth around $71,100 at $7.11, while a micro contract covers 1,000 UNI. Both contracts settle in cash, meaning no tokens are exchanged at expiration. On October 20, CME announced that FalconX and GSR had executed the first block trade—a significant privately negotiated transaction.

So far, the futures listing has only led to a one-time boost. On September 22, UNI opened at $8.99 and closed at $10.22, up 13.7%. However, it peaked the next day and has continued to decline since, a classic case of “buy the rumor, sell the news.”

Futures contracts also give sellers a powerful tool. A short position profits when the price falls, and CME contracts let large funds short UNI without needing to borrow tokens. Therefore, while the futures listing has attracted new buyers, it could also increase selling pressure.

After a 220% Surge, UNI Holders Are Cashing Out

Martin Gaspar, a senior crypto market strategist at FalconX, noted that UNI surged 220% in the third quarter, far outpacing Bitcoin’s 43% increase (CRYPTO:BTC). Despite the October decline, UNI still boasts an 88% gain over 90 days, from $3.78 on July 24.

Rapid price increases let early investors realize significant gains, prompting many to sell when positive news emerges. For example, UNI surged 71.7% from a September 10 close of $5.95 to $10.22 just 12 days later. Buyers from that period still have profits to lock in at $7.11.

With a modest 1.1% gain in the past week, the selling pressure appears to be easing. However, this small movement still falls short of indicating a strong recovery.

UNI Needs Bitcoin and Ethereum to Turn Higher

Bitcoin is trading at $81,836 after a 2.3% drop over the past 30 days, while Ethereum (CRYPTO:ETH) is priced at $2,402, down 10.2% over the same period. Both cryptocurrencies also fell in the last 24 hours, with Bitcoin down 1.9% and Ether down 2.6%.

Lesser-known tokens like UNI often perform best when major cryptocurrencies rise. Bitcoin and Ether have gained 31.4% and 29.2%, respectively, over the past 90 days, fueling UNI’s summer rally. Further gains in these leading coins could support UNI’s price, but another dip could push $10 further out of reach.

Can the Uniswap Price Reach $10 by the End of 2026? In our opinion, UNI is unlikely to hit $10 by the end of 2026. The futures listing already produced its price spike in September, and profit-taking may still be ongoing. Before reaching $10, UNI needs to clear its October 11 high of $7.89, which is 11% above its October 22 price. It also needs to close above $9.08, its October 5 closing price before the breakdown—about 27.7% higher.

Only if these milestones are met can the $10 target become plausible. Furthermore, UNI must sustain its position above this level after failing to do so in November 2025 and September 2026. Continued demand for CME futures and a recovery in Bitcoin prices would help with both steps. Conversely, a daily close below the October 13 low of $6.74—5.2% lower—would suggest that sellers still dominate UNI, making the $10 target even more elusive.

Contact [email protected] for any questions or corrections.

37.98K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

CME Group Inc. (CME) Q3 2026 Earnings Call Transcript

, /PRNewswire/ -- Stock Preachers News Commentary - Three sessions into the week, growth and small caps are setting the pace. The Nasdaq Composite jumped 1.04% on the day and is up 2.14% for the week to 26,700.62, while the Russell 2000 added 0.44% to push its weekly gain to 2.36%. The Dow and S&P 500 are contributing too, both up more than 1.2% for the week, as earnings from industrial, healthcare, exchange and homebuilding names give investors fresh data points to sort leaders from laggards. Active Companies from around the markets with current developments this week include: RTX (NYSE: RTX), Abbott (NYSE: ABT), CME Group Inc. (Nasdaq: CME), M/I Homes, Inc. (NYSE: MHO), and Lockheed Martin (NYSE: LMT).

The Dow Jones Industrial Average closed at 52,637.78, up 0.27% on the day and 1.22% for the week, trading between a weekly low of 51,863.80 and a high of 52,711.93. The S&P 500 rose 0.5% to 7,751.45, up 1.2% for the week with an RSI14 of 53.1, while the Nasdaq's RSI14 sits at 48.6 despite its outsized weekly gain. The Russell 2000's RSI14 of 44.9 trails the pack even as it posted the week's best percentage move.

Volatility eased alongside the rally. The VIX closed at 16.72, down 0.59 on the day and 1.72 for the week, while the Nasdaq-100 Volatility Index fell to 24.65, down 2.48 for the week. Both gauges sit near their weekly lows of 16.51 and 23.92, respectively, suggesting hedging demand has cooled as equities climbed.

Commodities told a different story. WTI crude tumbled 4.64% on the day and 6.36% for the week to $97.07 a barrel, and natural gas dropped 4.79% on the day and 7.75% for the week to $2.82 per MMBtu. Gold edged up 0.18% to $4,150.10 an ounce, silver gained 1.18% for the week to $57.65, and the 10-year Treasury yield held near 5.11%, up 1 basis point for the week.

The full report lays out the key support and resistance levels for each index along with a broader look at the week's corporate players and sentiment heading into the final sessions.

CONTINUED... Read this and more news for RTX (NYSE: RTX), Abbott (NYSE: ABT), CME Group Inc. (Nasdaq: CME), M/I Homes, Inc. (NYSE: MHO), and Lockheed Martin (NYSE: LMT) at: https://stockpreachers.com/articles/tech-carries-the-tape-as-midweek-leaders-pull-away-from-the-pack/

In other industry developments and happenings in the market this week include:

RTX (NYSE: RTX) RTX reported third quarter sales of $25.0 billion, up 11 percent versus the prior year and up 12 percent organically. Adjusted EPS of $2.26 rose 33 percent year over year, including $0.25 from IEEPA cost recovery. The company's backlog reached a record $340 billion, split between $176 billion commercial and $164 billion defense.

The company raised its full year 2026 outlook, now guiding adjusted sales of $97.0 to $97.5 billion, up from $95.0 to $96.0 billion, and adjusted EPS of $7.65 to $7.75, up from $7.10 to $7.25. Free cash flow guidance moved to $9.0 to $9.2 billion from $8.50 to $8.75 billion.

"Our strong execution and operational focus in the third quarter enabled RTX to deliver double-digit organic sales growth across commercial aerospace and defense," said RTX Chairman and CEO Chris Calio. "Demand for our products remains robust with over $81 billion of new commercial and defense awards, resulting in a record backlog of $340 billion." Read the release.

Abbott (NYSE: ABT) Abbott posted third quarter reported sales growth of 14.5 percent and comparable sales growth of 7.0 percent. GAAP diluted EPS came in at $0.53, while adjusted diluted EPS reached $1.42, excluding specified items.

The company reaffirmed the midpoint of its full year 2026 adjusted diluted EPS guidance and tightened the range to $5.50 to $5.55, while projecting full year comparable sales growth of approximately 6.0 percent. Abbott also highlighted several new product approvals during the quarter, including FDA approval for its Libre Duo dual glucose-ketone biowearable sensor and CE Mark for its Amulet 360 Left Atrial Appendage Occluder.

"Abbott delivered strong third-quarter results, reflecting balanced growth across our portfolio," said Robert B. Ford, chairman and chief executive officer, Abbott. "With strong performance across multiple businesses and a robust pipeline of innovation, we are well-positioned to deliver sustainable growth in the years ahead." Read the release.

CME Group Inc. (Nasdaq: CME) CME Group reported third quarter revenue of $1.7 billion and operating income of $1.1 billion, with net income of $1.0 billion and diluted earnings per share of $2.89. On an adjusted basis, operating income was $1.2 billion, net income was $1.1 billion and diluted EPS was $3.02.

Average daily volume climbed to a third-quarter record of 29.4 million contracts, with non-U.S. ADV reaching a third-quarter high of 9 million contracts. Market data revenue hit a record $243 million, up 20 percent. The company returned nearly $1 billion to shareholders in the quarter, including $465 million in dividends and $524 million in share repurchases.

"As uncertainty intensified in Q3, clients turned to CME Group in record numbers to manage risk and capitalize on opportunities," said CME Group Chairman and Chief Executive Officer Terry Duffy. "With double-digit volume growth across all six asset classes, Q3 was our second highest quarter ever for revenue and adjusted net income." Read the release.

M/I Homes, Inc. (NYSE: MHO) M/I Homes reported third quarter revenue of $1.1 billion, down 5 percent, with homes delivered declining 2 percent to 2,241 and new contracts falling 2 percent to 1,861. Net income was $67 million, or $2.56 per diluted share, compared with $107 million, or $3.92 per diluted share, a year earlier.

Gross margin came in at 20.9 percent, or 21.3 percent excluding inventory charges. Shareholders' equity reached a record $3.3 billion with book value per share rising to a record $130, and the company repurchased $50 million of common stock while maintaining a homebuilding debt to capital ratio of 18 percent.

"Our third quarter results reflect increasingly difficult market conditions, including higher mortgage interest rates, weaker demand and growing economic uncertainty," said Robert H. Schottenstein, Chief Executive Officer and President. "Notwithstanding these conditions, we produced fairly solid results generating $87 million of pre-tax income, equating to an 8% return." Read the release.

Lockheed Martin (NYSE: LMT) Lockheed Martin delivered a C-130J-30 Super Hercules aircraft to the U.S. Navy at its Marietta, Georgia facility, marking the start of its conversion into the E-130J Phoenix II, the Navy's next-generation TACAMO airborne nuclear command and control platform.

The aircraft will be transferred to Northrop Grumman, the mission systems integrator, to complete the conversion. The delivery re-establishes a link to the Hercules family's TACAMO history, following the EC-130Q variant that flew the mission from 1963 to 1993.

"This delivery marks a historic milestone for the U.S. Navy, Lockheed Martin, and the nation's strategic communications network," said Trish Pagan, vice president of Lockheed Martin's Air Mobility & Maritime Missions. "It is built to deliver the capabilities our joint force demands and built to last through any operational challenge." Read the release.

Contact Information:

https://stockpreachers.com

Media Contact: [email protected]

DISCLAIMER: Nothing in this article should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a market commentary and is not a paid advertisement. This article is being distributed by Stock Preachers, which is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. This is an independent market commentary published on a non-paid basis. MEL has not been paid any fee by any company mentioned in this article for its production or distribution, and MEL has no advertising or digital media agreement with any company mentioned in this article. The companies mentioned have not reviewed or approved this article. Market Equities and its owners, operators, directors, and affiliates may, from time to time, hold positions in securities mentioned in this article or in the broad-market index funds that track them, and reserve the right to buy, sell, or hold such securities at any time without further notice. Information in this article was obtained from sources believed to be reliable, including company news releases and public market data, but its accuracy cannot be guaranteed. Market data is as of the time stated and may be delayed. Portions of this commentary were produced with the assistance of automated tools from that data and reviewed against it. Investing in securities involves risk, including the possible loss of some or all of your investment. Technical analysis describes past price and volume behavior and does not predict future results; support and resistance levels can fail at any time. References to the companies named in this article are provided solely as market and sector context and as summaries of each company's own public news releases. No partnership, affiliation, or endorsement is implied, and nothing in this article is a recommendation to buy, sell, or hold any security. Quotations attributed to company executives are reproduced from those companies' own news releases. Forward-Looking Statements: This article may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements made by the companies mentioned in their own news releases. Such statements involve risks and uncertainties, and actual results may differ materially. Readers should review each company's filings with the SEC and applicable Canadian securities regulators. Eagle Eye is an investor signal-intelligence platform affiliated with the publisher of this article. Eagle Eye is not a broker-dealer, and nothing it provides is investment advice. Data may be delayed. Always do your own research.

SOURCE Stock Preachers

CME Group (CME - Free Report) reported $1.74 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 13%. EPS of $3.02 for the same period compares to $2.68 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.71 billion, representing a surprise of +1.43%. The company delivered an EPS surprise of +1.34%, with the consensus EPS estimate being $2.98.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how CME performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Average daily volume: 29.45 million versus the four-analyst average estimate of 29.12 million.Average rate per contract- Interest rates: $0.49 versus the four-analyst average estimate of $0.48.Average rate per contract- Equity indexes: $0.61 versus $0.61 estimated by four analysts on average.Average rate per contract- Foreign exchange: $0.85 compared to the $0.82 average estimate based on four analysts.Average rate per contract- Energy: $1.15 versus $1.14 estimated by four analysts on average.Average rate per contract- Agricultural commodities: $1.38 versus $1.43 estimated by four analysts on average.Average daily volume- Metals: 935 thousand versus 948.26 thousand estimated by four analysts on average.Average rate per contract: $0.68 compared to the $0.68 average estimate based on four analysts.Average daily volume- Interest rates: 15.12 million compared to the 14.83 million average estimate based on four analysts.Revenues- Other: $116.1 million compared to the $116.04 million average estimate based on four analysts. The reported number represents a change of +8.3% year over year.Revenues- Market data and information services: $243.1 million compared to the $236.2 million average estimate based on four analysts. The reported number represents a change of +20.1% year over year.Revenues- Clearing and transaction fees: $1.38 billion versus the four-analyst average estimate of $1.36 billion. The reported number represents a year-over-year change of +12.2%.View all Key Company Metrics for CME here>>>

Shares of CME have returned +10.5% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

Record French Debt Could Create Opportunities for U.S. Market OperatorsCME Group NASDAQ: CME reported record third-quarter activity and financial results, citing broad-based demand for risk-management products amid shifting central-bank policies, geopolitical uncertainty and market volatility.

Chairman and CEO Terry Duffy said average daily volume reached 29.4 million contracts in the third quarter, the company’s highest third-quarter level on record and a 16% increase from a year earlier. Volume grew by double digits across all six asset classes, with financial and commodity product volumes each rising 16%.

Get CME Group alerts:

Not Just Banks: 3 Trading Stocks to Watch After the Fed Rate Hike“Global participants continue to turn to CME Group in record numbers,” Duffy said.

Record revenue, earnings and market data
President and CFO Lynne Fitzpatrick said third-quarter revenue rose 13% year over year to $1.7 billion, representing a record for third-quarter revenue. Market data revenue reached an all-time quarterly high of $243 million, up 20% from the prior-year period and marking the company’s 34th consecutive quarter of year-over-year growth in that business.

Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to ProfitAdjusted expenses totaled $532 million, including $428 million excluding license fees. Fitzpatrick said higher license fees reflected strong volume growth, particularly in the equity complex, where volume increased 23%.

Adjusted operating income rose 15% to $1.2 billion, producing a 69.4% adjusted operating margin. Adjusted net income was $1.1 billion, while adjusted diluted earnings per share increased 13% to $3.02. CME Group’s adjusted net income margin was 62.4%.

The company returned nearly $1 billion to shareholders during the quarter through $465 million in regular quarterly dividends and $524 million in share repurchases. Fitzpatrick said revenue has increased 9% and adjusted earnings per share has risen 11% through the first nine months of the year.

Entering the fourth quarter, CME said volume was running 17% above the prior year’s record fourth-quarter pace and was 12% ahead of the prior year on a year-to-date basis.

Open interest and international growth
Quarter-end open interest reached 128 million contracts and stood above 133 million contracts at the time of the call, according to Duffy. He said that represented the company’s highest September-ending open interest on record. CME also recorded a high number of large open-interest holders in its interest-rate and foreign-exchange complexes during September.

The company said it provided customers with average daily margin savings of more than $100 billion during the third quarter. Management attributed the figure to broad-based activity and cross-margining programs across asset classes.

In equities, Senior Managing Director Tim McCourt said margin savings totaled nearly $47 billion in the third quarter, including nearly $42 billion from CME’s core futures-and-options offsets and more than $5 billion from its cross-margin arrangement with the Options Clearing Corp.

In fixed income, Senior Managing Director Mike Dennis said daily portfolio-margining savings in swaps reached a record $14 billion on Sept. 30. Average September savings were $13.2 billion, up 58% from a year earlier. CME-FICC cross-margining generated average daily savings of $2.3 billion in September, with a quarterly record of $2.7 billion on one day.

International average daily volume rose 22% to a record 9 million contracts. EMEA volume increased 20% to 6.5 million contracts per day, while APAC volume gained 28% to 2.1 million contracts per day. International growth was led by energy products, up 40%, agricultural products, up 28%, and equity index products, up 24%.

Product launches and technology plans
CME introduced several products during the quarter, including Single Stock futures and E-nano Equity Index futures. It also expanded 24/7 trading to its 1-Ounce Gold and 100-Ounce Silver contracts, following the earlier launch of around-the-clock cryptocurrency products.

McCourt said Single Stock futures had traded more than 350,000 contracts and represented approximately $3.5 billion in notional value since launch. The products cover 55 large U.S. companies in 100-share contracts, with 10-share versions available for 22 of those names. Chief Commercial Officer Julie Winkler said the products have gained participation across more than 50 countries and are distributed through 25 of CME’s top retail broker partners.

Duffy said CME withdrew its filing for a 24/7, 10-barrel WTI crude-oil contract after commercial participants raised concerns about staffing another desk to support continuous trading. While he said he expects markets ultimately to move toward 24/7 availability, he added that broader adoption of around-the-clock trading in major products will require banking, liquidity and back-office infrastructure capable of supporting it.

The company remains on track to launch CME Securities Clearing on Dec. 7 ahead of the SEC’s Treasury clearing mandate. It also said Treasury Link, a system intended to enable centralized spread trading between Treasury futures and BrokerTec cash Treasuries on CME Globex, is live in its new-release environment for client testing.

On technology, Duffy said CME’s Dallas disaster-recovery facility, developed as part of its Google Cloud migration, opened for client testing in June. He said performance has shown latency and consistency equal to or better than the company’s on-premises offering. CME expects to begin migrating its primary Chicago market region to the cloud in late 2027 and determined that relocating livestock markets to Dallas is no longer necessary in the interim.

Compute futures, pricing and capital allocation
Management said it is awaiting regulatory review of proposed Compute futures after the Commodity Futures Trading Commission extended its comment period by 45 days. Duffy said the company believes the product would help market participants manage risks associated with data centers, artificial intelligence infrastructure, hyperscalers and related investments.

Derek Sammann, senior managing director and global head of commodities markets, said CME has worked on the product for nearly two years and has seen interest from neocloud companies, data-center operators, banks, funds, proprietary trading firms and chip providers. He said the proposed benchmark from Silicon Data is IOSCO compliant and supported by data across multiple platforms and transaction types.

Fitzpatrick said pricing changes implemented Oct. 1 are expected to contribute an annualized 0.5% to 1% increase in clearing and transaction fees. The adjustments affect cryptocurrency products, grains, certain interest-rate tiers and micro equity products. CME has moved away from an annual pricing freeze and plans to make changes throughout the year as market conditions and value creation warrant, she said.

Regarding capital priorities, Fitzpatrick said CME had completed the repurchase deployment of proceeds from the OSTTRA transaction. She said the company’s dividend structure, repurchase capacity and low debt load provide flexibility for potential acquisitions, though CME remains selective and focuses on opportunities that add customers, products or capital efficiencies.

About CME Group (NASDAQ:CME)CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for futures and options contracts. Its products cover major asset classes, including interest rates, equity indexes, foreign currencies, agricultural commodities, energy and metals. The company also provides market data, benchmark information and related services used by financial institutions, corporations, producers, investors and other market participants.

CME Group's exchange portfolio includes CME, the Chicago Board of Trade, the New York Mercantile Exchange and COMEX.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in CME Group Right Now?Before you consider CME Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CME Group wasn't on the list.

While CME Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead. This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.

Get This Free Report

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

CME Group (CME - Free Report) came out with quarterly earnings of $3.02 per share, beating the Zacks Consensus Estimate of $2.98 per share. This compares to earnings of $2.68 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +1.34%. A quarter ago, it was expected that this parent company of the Chicago Board of Trade and other exchanges would post earnings of $2.91 per share when it actually produced earnings of $2.99, delivering a surprise of +2.75%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

CME, which belongs to the Zacks Securities and Exchanges industry, posted revenues of $1.74 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.43%. This compares to year-ago revenues of $1.54 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

CME shares have added about 8.1% since the beginning of the year versus the S&P 500's gain of 12.7%.

What's Next for CME?While CME has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for CME was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.99 on $1.75 billion in revenues for the coming quarter and $12.31 on $7.05 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Securities and Exchanges is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, CBOE Global (CBOE - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on October 30.

This holding company for the Chicago Board Options Exchange is expected to post quarterly earnings of $3.40 per share in its upcoming report, which represents a year-over-year change of +27.3%. The consensus EPS estimate for the quarter has been revised 0.2% higher over the last 30 days to the current level.

CBOE Global's revenues are expected to be $701.96 million, up 15.9% from the year-ago quarter.

•  Double-digit revenue and net income growth

, /PRNewswire/ -- CME Group Inc. (NASDAQ: CME) today reported financial results for the third quarter of 2026.

The company reported revenue of $1.7 billion and operating income of $1.1 billion for the third quarter of 2026. Net income was $1.0 billion and diluted earnings per common share were $2.89. On an adjusted basis, operating income was $1.2 billion, net income was $1.1 billion and diluted earnings per common share were $3.02. Financial results presented on an adjusted basis for the third quarter of 2026 and 2025 exclude certain items, which are detailed in the reconciliation of non-GAAP results.1

"As uncertainty intensified in Q3, clients turned to CME Group in record numbers to manage risk and capitalize on opportunities," said CME Group Chairman and Chief Executive Officer Terry Duffy. "Our average daily volume reached 29.4 million contracts, the highest Q3 ADV on record. With double-digit volume growth across all six asset classes, Q3 was our second highest quarter ever for revenue and adjusted net income. We launched several innovative new products and generated a new high of $100 billion in average daily capital efficiencies. We also made strong progress in our cloud migration, making CME Group the only exchange to offer clients the choice of both co-location and cloud-managed services to expand access to our markets for years to come."

Q3 2026 average daily volume (ADV) climbed to a third-quarter record of 29.4 million contracts, and non-U.S. ADV reached a third-quarter high of 9 million contracts.

Clearing and transaction fees revenue for third-quarter 2026 totaled $1.4 billion. The total average rate per contract was $0.679. Market data revenue totaled a record $243 million for third-quarter 2026, an increase of 20%.

1. A reconciliation of the non-GAAP financial results mentioned to the respective GAAP figures can be found within the Reconciliation of Adjusted Operating Income and Adjusted Net Income and Adjusted Earnings per Common Share charts at the end of the financial statements.

As of September 30, 2026, the company had $2.4 billion in cash (including $225 million deposited with Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion of debt. The company returned nearly $1 billion to shareholders during the quarter, with $465 million in regular quarterly dividends and $524 million in share repurchases.

CME Group will hold a Q&A conference call to discuss third-quarter 2026 results at 8:30 a.m. Eastern Time today. A live audio webcast of the Q&A call will be available on the Investor Relations section of CME Group's website at investor.cmegroup.com under Events & Presentations. An archived recording will be available for up to two months after the call.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

Statements in this press release that are not historical facts are forward-looking statements.  These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. We want to caution you not to place undue reliance on any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the factors that might affect our performance are increasing competition by foreign and domestic entities, including increased competition from new entrants into our markets and consolidation of existing entities; our ability to keep pace with rapid technological developments, including our ability to complete the development, implementation and maintenance of the enhanced functionality required by our customers while maintaining reliability and ensuring that such technology is not vulnerable to security risks; our ability to continue introducing innovative and competitive new products and services on a timely, cost-effective basis, including through our electronic trading capabilities, and derive revenues that are commensurate with our efforts and expectations, and our ability to maintain the competitiveness of our existing products and services; our ability to adjust our fixed costs and expenses if our revenues decline; our ability to manage variable costs associated with CME Group's transition to the Google Cloud, and minimize duplicative costs of maintaining both on-premise and Google Cloud environments during the transition; the resilience of our electronic platforms and the soundness of our business continuity and disaster recovery plans, including in the event of cyberattacks and cyberterrorism or as impacted by a failure of or disruption at one of our suppliers; our ability to maintain existing customers at substantially similar trading levels, develop strategic relationships and attract new customers; our ability to expand and globally offer our products and services; changes in regulations, including the impact of any changes in laws or government policies with respect to our products or services or our industry, such as any changes to regulations and policies that require increased financial and operational resources from us or our customers, as well as the impact of tariffs and tax policy changes, restrictions on our ability to offer CME Group products and services in specific geographies or to specific customers or limitations or changes in underlying/physical product flows across geographies; the costs associated with protecting our intellectual property rights and our ability to operate our business without violating the intellectual property rights of others; decreases in revenue from our market data as a result of decreased demand or changes to regulations in various jurisdictions; changes in our rate per contract due to shifts in the mix of the products traded, the trading venue and the mix of customers (whether the customer receives member or non-member fees or participates in one of our various incentive programs) and the impact of our tiered pricing structure; the ability of our credit and liquidity risk management practices to adequately protect us from the credit risks of clearing firms and other counterparties, and to satisfy the margin and liquidity requirements associated with the BrokerTec matched principal business; the ability of our compliance and risk management programs to effectively monitor and manage our risks, including our ability to prevent errors and misconduct and protect our infrastructure against security breaches and misappropriation of our intellectual property assets; our dependence on third-party providers and exposure to risk from third parties, including risks related to the performance, reliability and security of technology used by, or facilities provided by, our third-party providers and third-party providers that our clients and third-parties rely on; our reliance on third-party distribution partners, including independent software vendors, futures commission merchants, introducing brokers, broker-dealers, regulatory reporting and data distributors and platform operators, and other partners, for facilitating trading and for market data information, and potential impacts from changes in their business models and priorities; volatility in commodity, equity and fixed income prices, and price volatility of financial benchmarks and instruments such as interest rates, equity indices, fixed income instruments and foreign exchange rates; economic, social, political and market conditions, including new and existing geopolitical tensions or conflicts, the volatility of the capital and credit markets and the impact of economic conditions on the trading activity of our current and potential customers; our ability to accommodate increases in contract volume and market data and order transaction traffic across the entire trade cycle and the ability to implement enhancements meeting our regulatory obligations and customer needs without failure or degradation of the performance of our trading and clearing systems; our ability to execute our growth strategy and maintain our growth effectively; our ability to manage the risks, control the costs and achieve the synergies associated with our strategy for acquisitions, investments, alliances, strategic partnerships and joint ventures; variances in earnings on cash accounts and collateral that our clearing house holds; impact of CME Group pricing/fee level and structure and incentive changes; impact of aggregation services and internalization on trade flow and volumes; any negative financial impacts from changes to the terms of intellectual property and index rights; our ability to continue to generate funds and/or manage our indebtedness to allow us to continue to invest in our business; industry, channel partner and customer consolidation and/or concentration; decreases in trading and clearing activity; the imposition of a transaction tax or user fee on futures and options transactions and/or repeal of the 60/40 tax treatment of such transactions; increases in effective tax rates, borrowing costs, or changes in tax policy; our ability to maintain our brand and reputation; and the unfavorable resolution of material legal proceedings. For a detailed discussion and additional information concerning these and other factors that might affect our performance, see our other recent periodic filings, including our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission ("SEC") on February 26, 2026, under the caption "Risk Factors".

CME Group Inc. and Subsidiaries

Consolidated Balance Sheets

(in millions)

September 30, 2026

December 31, 2025

ASSETS

Current Assets:

Cash and cash equivalents

$                  2,198.5

$                  4,416.9

Marketable securities

131.0

125.0

Accounts receivable, net of allowance

788.1

639.2

Other current assets (includes $3.5 and $6.5 in restricted cash)

840.9

522.1

Performance bonds and guaranty fund contributions

155,179.7

159,656.1

Total current assets

159,138.2

165,359.3

Property, net of accumulated depreciation and amortization

338.7

362.7

Intangible assets—trading products

17,175.3

17,175.3

Intangible assets—other, net

2,440.1

2,610.7

Goodwill

10,505.9

10,514.7

Other assets

2,494.3

2,401.5

Total Assets

$              192,092.5

$              198,424.2

LIABILITIES AND EQUITY

Current Liabilities:

Accounts payable

$                       67.7

$                       71.8

Other current liabilities

865.5

568.8

Performance bonds and guaranty fund contributions

155,179.7

159,656.1

Total current liabilities

156,112.9

160,296.7

Long-term debt

3,425.1

3,422.3

Deferred income tax liabilities, net

5,208.6

5,242.2

Other liabilities

785.6

734.8

Total Liabilities

165,532.2

169,696.0

Total CME Group Shareholders' Equity

26,560.3

28,728.2

Total Liabilities and Equity

$              192,092.5

$              198,424.2

CME Group Inc. and Subsidiaries

Consolidated Statements of Income

(dollars in millions, except per share amounts; shares in thousands)

Quarter Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

Revenues

Clearing and transaction fees

$    1,378.1

$    1,227.9

$   4,273.2

$   3,953.2

Market data and information services

243.1

202.5

705.3

595.1

Other

116.1

107.2

345.1

323.6

Total Revenues

1,737.3

1,537.6

5,323.6

4,871.9

Expenses

Compensation and benefits

234.3

237.6

690.8

665.9

Technology

80.9

71.4

240.8

208.0

Professional fees and outside services

31.1

36.7

88.4

102.6

Amortization of purchased intangibles

56.0

56.2

168.1

167.5

Depreciation and amortization

27.4

26.4

82.8

81.0

Licensing and other fee agreements

104.2

81.6

320.1

274.4

Other

62.0

55.1

174.4

162.6

Total Expenses

595.9

565.0

1,765.4

1,662.0

Operating Income

1,141.4

972.6

3,558.2

3,209.9

Non-Operating Income (Expense)

Investment income

1,418.1

1,548.7

4,237.1

3,959.8

Interest and other borrowing costs

(43.5)

(44.0)

(130.7)

(129.7)

Equity in net earnings of unconsolidated subsidiaries

102.8

96.3

302.9

283.5

Other non-operating income (expense)

(1,264.0)

(1,396.6)

(3,774.1)

(3,571.4)

Total Non-Operating Income (Expense)

213.4

204.4

635.2

542.2

Income before Income Taxes

1,354.8

1,177.0

4,193.4

3,752.1

Income tax provision

317.9

269.0

960.4

862.8

Net Income

$    1,036.9

$       908.0

$   3,233.0

$   2,889.3

Net Income Attributable to Common Shareholders of
CME Group - Basic(1)

$    1,036.9

$       896.6

$   3,234.2

$   2,853.0

Net Income Attributable to Common Shareholders of
CME Group - Diluted(1)

$    1,036.9

$       896.6

$   3,233.0

$   2,853.0

Earnings per Share Attributable to Common
Shareholders of CME Group:

Basic

$         2.90

$         2.49

$        9.00

$        7.93

Diluted

2.89

2.49

8.96

7.92

Weighted Average Number of Common Shares:

Basic

358,019

359,686

359,336

359,653

Diluted(2)

358,641

360,422

361,018

360,330

1. The difference between Net Income and Net Income Attributable to Common Shareholders of CME Group - Basic and Diluted is the result of the distribution of earnings allocated to preferred shares.

2. Preferred shares of 4,584,000 were all converted to Class A Common stock on March 5, 2026 with their weighted-average impact included in the Diluted shares starting in the first quarter of 2026.

CME Group Inc. and Subsidiaries

Reconciliation of Adjusted Operating Income

(dollars in millions)

Quarter Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

Total Revenues

$    1,737.3

$    1,537.6

$  5,323.6

$  4,871.9

Adjusted Total Revenues

$    1,737.3

$    1,537.6

$  5,323.6

$  4,871.9

Total Expenses

$       595.9

$       565.0

$  1,765.4

$  1,662.0

Restructuring and severance

(5.4)

(6.5)

(15.4)

(9.0)

Deferred compensation(1)

0.1

(6.1)

(11.5)

(11.6)

Amortization of purchased intangibles

(56.0)

(56.2)

(168.1)

(167.5)

Strategic transaction-related (costs) credits

(0.7)

(1.2)

(2.3)

(4.0)

Real estate-related (costs) credits

(0.7)

(0.7)

(0.7)

7.4

Foreign exchange transaction gains (losses)

(1.4)

0.8

(0.8)

(5.1)

Unrealized and realized gains (losses) on assets

—

—

—

(0.4)

Litigation matters or settlements

—

(8.5)

(1.9)

(19.4)

Adjusted Total Expenses

$       531.8

$       486.6

$  1,564.7

$  1,452.4

Operating Income

$    1,141.4

$       972.6

$  3,558.2

$  3,209.9

Adjusted Operating Income

$    1,205.5

$    1,051.0

$  3,758.9

$  3,419.5

1. Includes $0.1 million and $11.5 million for changes in our non-qualified deferred compensation liability in the third quarter and first nine months of 2026. This impact does not affect net income and adjusted net income, because the compensation and benefits change has an equal and offsetting change in investment income.

CME Group Inc. and Subsidiaries

Reconciliation of Adjusted Net Income and Adjusted Earnings per Common Share

(dollars in millions, except per share amounts; shares in thousands)

Quarter Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

Net Income

$    1,036.9

$       908.0

$  3,233.0

$  2,889.3

Restructuring and severance

5.4

6.5

15.4

9.0

Amortization of purchased intangibles(1)

60.0

69.6

180.1

207.2

Strategic transaction-related costs (credits)(2)

—

3.7

0.4

6.5

Real estate-related costs (credits)

0.7

0.7

0.7

(7.4)

Foreign exchange transaction (gains) losses

1.4

(0.8)

0.8

5.1

Unrealized and realized (gains) losses on investments

0.1

(0.4)

19.1

6.1

Unrealized and realized (gains) losses on assets

—

—

—

0.4

Litigation matters or settlements

—

8.5

1.9

19.4

Income tax effect related to above

(16.3)

(18.2)

(52.6)

(49.8)

Other income tax items

(4.3)

0.8

(13.1)

(8.1)

Adjusted Net Income

$    1,083.9

$       978.4

$  3,385.7

$  3,077.7

Adjusted Net Income Attributable to Common
Shareholders of CME Group - Basic(3)

$    1,083.9

$       966.1

$  3,386.4

$  3,039.0

Adjusted Net Income Attributable to Common
Shareholders of CME Group - Diluted(3)

$    1,083.9

$       966.1

$  3,385.7

$  3,039.0

Earnings per Share Attributable to Common Shareholders of CME Group:

     Basic

$         2.90

$         2.49

$       9.00

$       7.93

     Diluted

2.89

2.49

8.96

7.92

Adjusted Earnings per Share Attributable to Common Shareholders of CME
Group:

     Basic

$         3.03

$         2.69

$       9.42

$       8.45

     Diluted

3.02

2.68

9.38

8.43

Weighted Average Number of Common Shares:

     Basic

358,019

359,686

359,336

359,653

     Diluted(4)

358,641

360,422

361,018

360,330

1. Includes $2.6 million and $7.8 million of amortization of purchased intangibles at S&P Dow Jones Indices LLC and $1.4 million and $4.2 million of amortization of purchased intangibles at FanDuel Prediction Markets Holdings LLC in the third quarter and first nine months of 2026. This is reported in Equity in net earnings of unconsolidated subsidiaries on the Consolidated Statements of Income.

2. The values shown above may differ from what is shown in the Reconciliation of Adjusted Operating Income as that schedule does not include adjustment items or portions of items included in non-operating results.

3. The difference between Adjusted Net Income and Adjusted Net Income Attributable to Common Shareholders of CME Group - Basic and Diluted is the result of the distribution of earnings allocated to preferred shares.

4. Preferred shares of 4,584,000 were all converted to Class A Common stock on March 5, 2026 with their weighted-average impact included in the Diluted shares starting in the first quarter of 2026.

CME Group Inc. and Subsidiaries

Quarterly Operating Statistics

3Q 2025

4Q 2025

1Q 2026

2Q 2026

3Q 2026

Trading Days

64

64

61

62

64

Quarterly Average Daily Volume (ADV)(1)

CME Group ADV (in thousands)

Product Line

3Q 2025

4Q 2025

1Q 2026

2Q 2026

3Q 2026

Interest rates

13,378

13,010

18,674

14,532

15,121

Equity indexes

6,278

7,738

8,655

8,633

7,714

Foreign exchange

834

853

1,193

989

988

Energy

2,295

2,523

3,985

2,667

2,665

Agricultural commodities

1,712

1,787

2,042

2,080

2,022

Metals

825

1,441

1,682

941

935

Total

25,322

27,353

36,231

29,843

29,445

Venue

CME Globex

23,418

25,542

33,633

27,935

27,472

Open outcry

989

816

1,241

830

872

Privately negotiated

915

995

1,357

1,078

1,100

Total

25,322

27,353

36,231

29,843

29,445

Quarterly Average Rate Per Contract (RPC)(1)

CME Group RPC

Product Line

3Q 2025

4Q 2025

1Q 2026

2Q 2026

3Q 2026

Interest rates

$          0.487

$          0.486

$          0.457

$          0.480

$          0.489

Equity indexes

0.652

0.611

0.597

0.605

0.605

Foreign exchange

0.841

0.847

0.780

0.813

0.852

Energy

1.214

1.245

1.084

1.131

1.146

Agricultural commodities

1.423

1.427

1.344

1.426

1.377

Metals

1.505

1.295

1.153

1.315

1.326

Average RPC

$          0.702

$          0.707

$          0.652

$          0.678

$          0.679

1. ADV and RPC includes futures and options on futures only.

CME-G

SOURCE CME Group

Multicoin Capital just named Hyperliquid its largest hedge fund holding, yet HYPE keeps sliding. Before you treat that endorsement as a buy signal, there are several uncomfortable questions about what the announcement actually guarantees.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Multicoin Capital, a cryptocurrency investment firm managing $2.7 billion, has named Hyperliquid (CRYPTO: HYPE) its largest hedge fund holding, according to general partner Spencer Applebaum on October 19, 2026. Although Applebaum said the firm bought the tokens on the public market, he did not disclose the size of the investment.

Despite this news, HYPE has not seen a price increase. As of October 20, the token trades at about $78, down 4% over the past week and 13.5% over the past month, and 20% below its $98 peak on September 23. So, does backing from a well-known fund give Hyperliquid a nudge upward?

What Multicoin Acquired and How Hyperliquid Generates Revenue

Multicoin’s investment gives it exposure to a decentralized exchange (DEX), a platform where on-chain code matches trades and securely manages user funds. Hyperliquid’s main offering is perpetual futures—contracts that track a cryptocurrency’s price indefinitely, allowing traders to hold positions as long as they provide enough collateral.

Hyperliquid makes money through trading fees, and its Assistance Fund channels most of these fees into automated purchases of HYPE on the open market. As a result, demand for the token fluctuates with trading activity, making HYPE a proxy for the exchange’s overall performance.

Martin Gaspar, senior crypto market strategist at prime broker FalconX, noted that Hyperliquid’s open interest—representing the total value of active futures contracts—nearly doubled in the third quarter, reaching $12.2 billion. This figure is approaching the $13.4 billion recorded by CME Group (NASDAQ: CME | CME Price Prediction), the Chicago derivatives exchange. Since FalconX profits more when derivatives trading increases, Gaspar speaks as an interested party.

Gaspar also pointed out that open interest in futures beyond Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) rose 70%, suggesting traders are seeking leverage beyond the two leading cryptocurrencies, the market Hyperliquid has targeted to build volume.

Hyperliquid’s Legal Concerns and Growing U.S. Competition

One of Hyperliquid’s main risks is its legal situation. The Hyperliquid Policy Center, which advocates for the exchange, submitted a comment letter to the SEC on October 19, asking for clarification on rules regarding airdrops, token buybacks, and secondary trading. The letter emphasizes the need for the SEC to clarify whether unregistered on-chain protocols can facilitate trading in tokens linked to investment contracts.

The group’s letter stated, “Our comment asks the Commission to provide that clarity when the SEC adopts the rule, using the authority and tools the Commission already has.” Because buybacks help increase demand for HYPE, clear SEC guidance on these matters could reduce legal risk around the token’s main support.

Meanwhile, competition for Hyperliquid’s primary product is intensifying in regulated markets. The CFTC has approved crypto perpetual futures for regulated U.S. exchanges, starting with a Bitcoin perpetual contract, while CME has filed a lawsuit challenging that approval. In a September motion, the CFTC asked a federal judge to dismiss CME’s lawsuit, arguing that any registered exchange, including CME, has the right to list similar products.

If the CFTC prevails, U.S. traders may access perpetual futures on licensed platforms that would directly compete with Hyperliquid.

Multicoin’s Claim Doesn’t Guarantee More Trading on Hyperliquid

Multicoin’s announcement does not commit the firm to any specific actions; it did not disclose details such as position size, entry price, holding duration, or lockup terms, allowing them to sell the tokens whenever they choose. Additionally, a publicly purchased token does not increase trading volume on Hyperliquid, and trading volume is essential for funding buybacks.

The claim of being the “largest holding” may be less significant than it appears. Multicoin described HYPE as one of the top positions in its liquid fund in a June 2026 research note, so its top status could reflect price increases rather than new purchases. The $2.7 billion figure also includes client funds across the entire firm and does not break down the hedge fund’s specific share.

Moreover, supply factors add further pressure. Currently, only 222.4 million HYPE tokens—about 22% of the 1 billion maximum supply—are in circulation, so future releases could increase selling pressure that buybacks need to manage.

Is Hyperliquid a Buy After Its 14% Monthly Drop?
Given the current situation, we do not think Multicoin’s announcement provides a compelling reason to buy HYPE at about $78. While Hyperliquid’s business model offers stronger support for the token than many other altcoins, backing from a well-known fund doesn’t guarantee price appreciation since the purchases have already been made.

HYPE’s 13.5% decline over the past month, despite rising open interest, suggests that robust exchange data hasn’t been able to maintain its price. Fourth-quarter open interest data could provide a clearer picture going forward. If Hyperliquid surpasses CME’s $13.4 billion and HYPE reclaims its $98 record, it could signal that the business is pulling the token higher.

Contact [email protected] for any questions or corrections.

, /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that it will launch Tungsten futures to meet rising demand for its metals complex, which registered record volume this year. Trading will start by early Q1 2027, pending all relevant regulatory reviews. 

With annual production between 85,000 and 95,000 metric tons, the global tungsten market is worth over $20 billion based on current spot prices. It has been identified as a critical mineral by the U.S., the E.U., Japan, India and others. Tungsten has an active spot market but lacks a futures market. 

The contract will be financially settled based on the Fastmarkets assessment for tungsten APT (Ammonium Paratungstate) duty unpaid basis CIF Rotterdam and Baltimore.

"Tungsten sits at the intersection of advanced manufacturing, semiconductor technologies and geopolitics, and our clients are increasingly seeking to hedge their exposure and improve price transparency," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "CME Group Tungsten futures will join our growing suite of critical minerals and energy transition metal products, providing clients more opportunities to manage risk as global supply chains restructure." 

"This contract is an important new tool to manage the commercial risks involved in the physical trading and logistics of tungsten," said Quentin Lamarche, CEO, TechMet SCM. "As critical mineral supply is at the forefront of every major economy, having transparent forward pricing will support reliable, long-term western supply chains."

"For our manufacturing clients, tungsten is essential to production but has been difficult to budget for without a forward market," said Maarten Gassmann, Managing Director, Grondmet. "This contract fills that gap, allowing them to plan their operations with greater cost certainty." 

"Growing volatility and concentrated supply are increasing the need for transparent, trusted price benchmarks in the tungsten market," said Raju Daswani, CEO of Fastmarkets. "The launch of this contract, based on Fastmarkets' tungsten APT assessment, is a significant step in the market's development, connecting physical-market price discovery with new opportunities to manage price risk." 

Trading in CME Group's metals business set a new record in the first nine months of 2026, with a total of 1.2 million contracts traded daily across precious and industrial metals activity, up 41% year-on-year. 

The new contract will be listed by and subject to the rules of COMEX. For more information, please visit here.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

About Fastmarkets

Fastmarkets is an industry-leading PRA and information provider for the agriculture, forest products, metals, carbon and energy transition markets. Its benchmark prices, analytics, forecasts, and insights are critical to customers seeking to trade, manage risk, and understand complex global markets. 

Fastmarkets was founded in 1913, with a heritage dating back to 1865 through several of its acquired brands. Fastmarkets employs more than 700 people worldwide, with offices across Europe, the Americas, and Asia. The company is privately held and backed by Astorg, a leading European private equity firm.

CME-G

SOURCE CME Group

Key Takeaways CME Group's Q3 earnings are expected to rise 11.2%, with revenues projected to grow 11.4% year over year.CME Group's Q3 average daily volume rose 16% to 29.4 million contracts, driven by robust trading activity.CME's clearing fees are projected to rise 11%, while market data revenues are expected to increase 16.7%.
CME Group Inc. (CME - Free Report) is expected to register an improvement in both top and bottom lines when it reports third-quarter 2026 results on Oct. 21, before the opening bell.

The Zacks Consensus Estimate for CME’s third-quarter revenues is pegged at $1.71 billion, indicating an 11.4% increase from the year-ago reported figure.

The consensus estimate for earnings is pegged at $2.98 per share. The Zacks Consensus Estimate for CME’s third-quarter earnings has moved 2 cents north in the past seven days. The estimate suggests a year-over-year increase of 11.2%.

What the Zacks Model SaysOur proven model predicts an earnings beat for CME Group this time around. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which increases the chances of an earnings beat.

Earnings ESP: CME Group has an Earnings ESP of +0.73%. This is because the Most Accurate Estimate of $3.00 is pegged higher than the Zacks Consensus Estimate of $2.98. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Factors Likely to Shape Q3 ResultsCME Group’s third-quarter results are likely to benefit from solid trading activity across its major asset classes, driven by interest-rate uncertainty, fluctuations in equity markets, commodity price volatility and growing demand for risk-management products.

Revenue growth is likely to have been aided by gains in market data and information services, as well as higher clearing, transaction and other fee-based income.

Increased volatility across asset classes appears to have boosted trading volumes, which, in turn, supported clearing and transaction fees. The Zacks Consensus Estimate for clearing and transaction fees stands at $1.4 billion, indicating an 11% increase from the same period last year.

CME Group reported a quarterly average daily volume (ADV) of 29.4 million contracts in the third quarter, which increased 16% year over year. Trading activity increased across asset classes. Agricultural ADV of 2 million contracts in the third quarter of 2026 increased 18% from the prior-year period. Equity Index ADV of 87.7 million contracts increased 23% year over year.

Market data and information services revenues are likely to have benefited from pricing adjustments on certain products as well as increased demand and usage. The Zacks Consensus Estimate for this segment is pegged at $236.3 million, suggesting a 16.7% year-over-year increase.

On the cost side, expenses are expected to have risen during the quarter, primarily due to higher spending on employee compensation and benefits, along with increased investment in technology.

Other Stocks to ConsiderHere are three finance stocks you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat.

Cboe Global Markets, Inc. (CBOE - Free Report) has an Earnings ESP of +0.94% and carries a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $3.41, indicating a year-over-year increase of 27.7%. CBOE’s earnings beat estimates in each of the last four reported quarters.

Nasdaq (NDAQ - Free Report) has an Earnings ESP of +0.98% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $1.02, indicating a year-over-year increase of 15.9%. NDAQ’s earnings beat estimates in each of the last four reported quarters.

The Allstate Corporation (ALL - Free Report) has an Earnings ESP of +3.38% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $6.91, indicating a year-over-year decrease of 38.1%. ALL’s earnings beat estimates in each of the last four reported quarters.

Bitcoin Cash just posted its biggest daily gain in six weeks, crushing Bitcoin's returns for the month, but the catalyst behind the surge cuts both ways and could just as easily trigger a sharp reversal.

The stock market has endured some of its wildest volatility under President Donald Trump, including the five-week COVID-19 crash in February-March 2020 and the week-long tariff tantrum in April 2025.

But more importantly, the timeless Dow Jones Industrial Average (^DJI -0.34%), benchmark S&P 500 (^GSPC -1.09%), and tech-powered Nasdaq Composite (^IXIC -2.15%) have soared with Trump in the White House. The average annual return of Wall Street's major stock indexes under Trump has been higher than under most other presidents over the last 130 years.

Since his second-term inauguration in January 2025, the Dow, S&P 500, and Nasdaq Composite have blasted to new highs, driven by the artificial intelligence (AI) infrastructure build-out, better-than-expected corporate earnings, and record S&P 500 share buybacks.

There's no quick fix to inflation driven by President Donald Trump's policies. Image source: Official White House Photo by Joyce N. Boghosian.

However, persistently elevated inflation, some of which traces directly back to Donald Trump's policies, such as the Iran war, can no longer be swept under the rug. While President Trump has repeatedly opined that gas prices will "drop like a rock" once the Iran war ends, he's completely missing the bigger picture concerning inflation and its effects on the U.S. economy and stock market.

Trumpflation is directly boosting consumer pricesWhen the U.S. economy is growing, it's perfectly normal for consumer prices to modestly increase. This is to say that businesses should possess some degree of pricing power over their goods and services when they're in demand.

What we've witnessed during President Trump's second non-consecutive term is elevated inflation, driven by two of his policies (i.e., Trumpflation): tariffs and the Iran war.

Trump unveiled his "Liberation Day" tariffs in early April 2025, sparking the aforementioned tariff tantrum on Wall Street, which saw the indexes plummet over the course of a week. Even though the U.S. Supreme Court invalidated these tariffs in February 2026, their impact on consumer prices has persisted.

According to new research from three New York Federal Reserve economists writing for Liberty Street Economics ("How Fast Do Tariffs Pass Through into Consumer Prices"), Trump's tariffs were estimated to have added 2.9 percentage points to consumer goods inflation by February 2026. When duties are added to imported goods, and those goods are used to manufacture a product domestically, it can increase production costs, resulting in higher prices for consumers.

Trump claims that when his supposed 5-week war in Iran finally ends, gas prices will "drop like a rock" https://t.co/YijKCFkw18

— Headquarters (@HQNewsNow) October 5, 2026 The Trump-led Iran war is also directly influencing consumer prices. Shortly after the president green-lit military action against Iran on Feb. 28, the latter shut down the Strait of Hormuz to virtually all commercial vessels. This effectively halted the daily movement of approximately one-fifth of the world's crude oil supply.

The reaction in energy markets was swift. Gas prices soared at the fastest pace in 30 years, while diesel prices climbed to an all-time high last month.

Last week, President Trump yet again proclaimed to reporters that fuel prices will plunge once the Iran war ends:

Gasoline prices are going down very rapidly. When the war ends, they'll drop like a rock, and the war is going to end very soon.While an official end to the Iran war may spark a brief dip in energy commodity prices, the president's prognostication that gas prices will "drop like a rock" overlooks several key points.

Image source: Getty Images.

Trumpflation is becoming entrenched in the U.S. economy, and that's terrible news for stocksOne of the president's biggest misconceptions about the Iran war is that everything in the region would return to normal as soon as the conflict officially ends. In reality, it'll take several months for energy infrastructure in the region to ramp back up. It may take even longer for oil reserves to be replenished.

Though the initial reaction in energy markets is likely to be favorable, persistent supply issues should keep fuel prices elevated for several quarters after the end of the Iran war.

But the bigger issue is that the Iran war is about much more than just energy prices. Even though rapidly rising gas and diesel prices have had the most visible impact on consumers' wallets, evidence is mounting that the inflationary effects of this conflict have spilled beyond the energy sector and into the broader economy.

One of the Federal Reserve's favorite inflation tools is Core Personal Consumption Expenditures (CPE). Core PCE excludes volatile food and energy expenses, giving the Fed's policymakers a clearer picture of long-term price trends.

Whereas headline inflation, including energy and food costs, dipped significantly from a three-year high of 4.2% in May to 3.4% in September, Core PCE has hardly budged since May -- falling from 3.2% to 3%. This indicates that inflationary pressures are mounting outside the energy sector.

The Fed’s preferred inflation gauge, Core PCE, came in at 3.0% for August. That marks 66 consecutive months above the Fed’s 2% target. “For more than 5 years, inflation has been running above target. The plain fact is that inflation is too high and has been for too long.” - Kevin Warsh (FOMC September Press Conference) We should see at least one more Fed rate hike before year-end.

— Charlie Bilello (@charliebilello) September 30, 2026 Beyond rising fuel costs, the Iran war has caused some businesses to alter their shipping routes, change their modes of transportation, or shift to different suppliers. Furthermore, businesses are paying more for petroleum-based goods, such as plastics and synthetic polymers. While businesses may absorb some of these costs, Core PCE data shows that most of these expenses are being passed on to consumers.

The cumulative effects of persistent core inflation and ongoing energy supply disruption will likely lead to an aggressive Fed rate-hiking cycle. According to the CME Group's (CME +1.52%) FedWatch Tool, there's a nearly 35% chance of the central bank raising interest rates by at least 100 basis points by September 2027.

Persistently elevated inflation, prominently caused by Trump's policies, won't end when the Iran war is over. That's terrible news for a historically pricey AI-driven bull market, which has been partially reliant on debt to finance the data center build-out. If lending costs continue to rise, the AI infrastructure build-out could slow.

President Trump's short-sightedness on fuel prices overlooks an array of headwinds that can negatively impact the U.S. economy and stock market.

Chainlink has been outpacing Bitcoin in the recent crypto rebound, but a shorter road to recovery and billions in institutional demand may make one coin a far more compelling buy right now.

Raw sugar futures just staged one of their sharpest seasonal rallies in years, and the timing could not be worse for a White House already facing restless voters at the grocery store and the gas pump.

Halloween candy just got more expensive to make, and it happened in a single season. ICE raw sugar futures for March 2027 delivery closed at 21.13 cents per pound on October 15, according to Barchart. In mid-July, the same contract traded at 15.77 cents, per NH Futures’ July 15 grain report. That works out to a 34% gain in about three months. From the July 31 low of 15.28 cents, the rally reaches 38.3%.

Sugar is one of the main costs for candy makers. It lands on top of a household budget already extended by gas and groceries. With the midterms only weeks away, that is a political problem.

Inflation Is Spreading Past the Pump The Consumer Price Index rose 3.7% from a year earlier in September. Energy is doing most of the work. Regular gas averaged $4.33 a gallon in the week of October 12, up $1.21 (+38.6%) from a year ago. West Texas Intermediate crude hit $101.91 a barrel on October 14, up 71.2% year over year.

The more worrying signal sits further up the supply chain. Reuters reported that producer prices rose by the most in four and a half years in September. That points to higher fuel and freight costs working their way into everyday goods. Grocery prices are already near their highs: the food-at-home index stood at 321.11 in September, just under its June peak of 321.446.

Traders Expect Republicans to Lose the House When gas and grocery prices rise, voters usually blame the party in power, and President Trump’s party is taking the hit. On Polymarket, contracts for Republican control of the House trade at 9.5%, against 90.5% for Democrats. Republican contract prices have fallen 30 percentage points over the past year. In the Senate, Republican contracts sit at 37.5%, down 36 points in a year, while Democrats trade at 64.5%. These are prices traders are paying with real money, which is a separate signal from polls. Yet, both point the same way.

Why Sugar Is Spiking, and Why It Could Last On October 12, Barchart reported that sugar rallied. This took place on speculation that a super El Niño will disrupt global production, plus forecasts for heavier rains in Brazil that could further delay the cane harvest. Earlier in the summer, weak monsoon rains in India and a smaller Brazilian crop had already drove prices higher. Thailand, another major Asian producer, also faces El Niño risk.

Weather shocks usually pass once harvests recover. This one looks more likely to last. If a strong El Niño hits India, Thailand and Brazil in the same crop season, no major exporter is left. That means no one can make up the shortfall. Expect high sugar costs to carry into 2027 candy and baked-goods prices, and watch two things: how fast Brazil’s harvest moves, and monthly El Niño forecasts. If Brazil’s cane harvest speeds up, the rally is likely to stall.

What This Week’s Market Moves Mean for Retirees Worries about AI spending and higher interest rates have hit tech and chip stocks. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) slipped 0.28% over the past week. Thursday brought some relief. The 10-year Treasury yield fell from 5.19% to 5.10%, its biggest daily drop in more than a year, per Reuters. Reuters also reported that the Dow rose 1.08%, the S&P 500 gained 0.33% and the Nasdaq added 0.08%.

Futures prices tracked by CME Group (NASDAQ:CME | CME Price Prediction) show a 73% chance that the Fed holds rates at its October 28 meeting. For retirees, a hold means savings yields stay attractive while grocery and gas bills keep rising, and the number to watch is whether producer price pressure shows up in the next CPI report. If it does, rate cuts get pushed further out and higher prices stay a political problem through November.

Contact [email protected] for any questions or corrections.

Ethereum, Solana, and Chainlink are all trading far below their peak prices, but each carries a different catalyst and a different risk that could determine whether any of them recovers before 2026 runs out.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), and Chainlink (CRYPTO: LINK) are trading well below their record highs, but each has distinct reasons a crypto comeback could happen by the end of 2026. Ethereum boasts the largest fund base, Solana has an upcoming network upgrade, and Chainlink is gaining institutional access.

All three have declined after a market-wide slump. So which one has the best chance of a comeback by year-end?

Ethereum’s $15.2 Billion Fund Base Is the Largest of the Three

Ethereum is currently trading at $2,371, 52.1% below its all-time high of $4,946. This drop is more significant than Bitcoin’s but less so than Solana’s and Chainlink’s. The decline leaves room for Ethereum to recover if market sentiment shifts, though that is not guaranteed.

Ethereum also has substantial investment. U.S. funds holding Ether, which allow investors to buy exposure through standard brokerage accounts, total about $15.2 billion, according to SoSoValue. This is the largest fund base among the three cryptocurrencies, giving Ethereum a deeper pool of mainstream buyers who might invest more if the market rebounds. A few weeks of net buying—where inflows exceed outflows—would indicate a potential comeback.

The primary risk for Ethereum involves its largest corporate holder, which keeps Ether as a treasury asset and is close to reaching a stated limit of 5% of its supply. This limit indicates where the company will stop purchasing more Ether. As a reliable source of demand in 2026, hitting that ceiling could eliminate a steady buyer just when the price needs support.

Solana’s October 21 Upgrade Is the Only Dated Catalyst

Solana is currently priced at $103, which is 64.9% below its all-time high of $293. However, Solana stands out because a major network upgrade scheduled for October 21 aims to reduce transaction finality to about 150 milliseconds.

Transaction finality is when a transaction becomes permanent and cannot be reversed. Faster finality could boost Solana’s appeal for payment and trading applications that require near-instant settlement, giving holders a specific date to track.

U.S. funds holding Solana total about $1.66 billion, according to SoSoValue. Net inflows after the network upgrade could signal renewed interest in Solana. The main risk, however, is that these funds reported outflows in nine of ten October sessions, meaning the upgrade coincided with mostly selling activity among investors. Additionally, network upgrades can sometimes be delayed, which could exacerbate selling pressure.

Chainlink Is the Only One of the Three Up Over 30 Days

Chainlink’s network provides outside data, such as asset prices, to blockchain applications. Currently, LINK trades at $12, up 7.0% over the past 30 days, making it the only one of the three to grow in that period.

Institutional access is also improving for Chainlink. CME Group (NASDAQ: CME | CME Price Prediction) has included Chainlink in its single-asset crypto futures suite, alongside Solana and other major cryptocurrencies. Futures contracts allow institutions to take a position on price movements without directly holding the asset. Furthermore, LINK saw inflows on October 10, and continued inflows would indicate sustained interest.

The project is also reportedly working on tokenization initiatives with SWIFT, the global banking messaging network, and Infosys (NYSE: INFY). Tokenization refers to representing assets like bonds or fund shares as tokens on a blockchain.

Chainlink’s main risk is that it is trading 77.1% below its all-time high of $53, the steepest decline among the three. Moreover, its partnerships are still in the announcement phase and haven’t translated into revenue. For those interested in speculative positions like this, a free guide on proper sizing can help ensure that one bad investment does not undermine an entire portfolio.

Which Coin Is Most Likely to Lead a Crypto Comeback by Year-End?
Among the three, Ethereum has the best chance of a comeback because its $15.2 billion fund base gives it the largest pool of potential buyers if market sentiment shifts. Chainlink remains the most speculative option, with the largest drawdown at 77.1% and future potential relying heavily on partnerships that are not yet revenue-generating.

Solana sits in the middle, with its near-term future hinging on the upcoming upgrade. If its fund flows remain negative after the October 21 upgrade, Solana’s prospects for a comeback could weaken heading into the end of 2026.

Contact [email protected] for any questions or corrections.

Fed Chair Kevin Warsh faces a decision in late October that the central bank has avoided almost without exception for over three decades, and hot inflation data just doubled the odds it could happen again.

At issue is a Federal Reserve rate hike within seven days of Election Day. Since 1990 the Fed has done it once, on Nov. 2, 2022. The Oct. 28 decision falls six days before the Nov. 3 election.

The FedWatch tool from CME Group (NASDAQ:CME | CME Price Prediction) priced an October hike at 41.5% at 12:20 PM ET on Oct. 14. That market pricing stands below half but marks a live possibility.

Hot Inflation Revived October
Invezz and Chosun Ilbo reported CPI rose 0.6% in September and 3.7% annually, above the expected 3.6% and August’s 3.4%. Core CPI rose 0.3% monthly and 2.6% annually versus 2.5% expected, per Invezz, which put gasoline up 9.1% and energy up 5.2%, with energy driving more than half the headline rise. Shelter rose 0.4%, per IBTimes.

The latest Bureau of Labor Statistics release runs through August, and Chosun Ilbo independently reported the 3.7% rate today. Odds were 22.1% before the report, per IBTimes, versus 41.5% now.

Policy Already Tightened
The Federal Open Market Committee raised rates 25 basis points in September to 3.75% to 4.00%, per Invezz. Fortune reported the unanimous vote was the Fed’s first hike in three years; HousingWire reported five straight holds at 3.5% to 3.75% through July. An October hike would produce 4.00% to 4.25%, per the Boston Globe. Chair Kevin Warsh said September’s move removed “a dose of accommodation,” though the full committee votes on rates.

A Single Precedent
The 2022 hike, six days before the midterms, was 75 basis points, per Fortune. September hikes in 2004, 2018 and 2022 came about six to seven weeks before Election Day, outside the window, and October hikes in 1978 and 1980 precede this period. Earlier records come from historical lists of Fed decisions, and the 2022 figures come from Fortune’s reporting.

Polymarket Favors Another 2026 Hike
Polymarket’s closest contract prices the total number of 2026 hikes. By Oct. 14, it showed 66% for exactly two, 21.7% for exactly three and 11.5% for exactly one. With one hike done, that favors another this year without identifying the meeting.

Analysts Split on Timing
UBS (NYSE:UBS) analyst Simon Penn wrote Sept. 29, before the CPI report, that an October hike on the eve of a midterm, absent for 35 years, was “politically untenable,” and expected December. RSM US economist Joseph Brusuelas saw little sign of disinflation and more than one further hike, questioning October and expecting 25 basis points in December. Capital Economics’ Stephen Brown called core upside broad based, putting October in play, and forecasts two more quarter-point hikes. The Cleveland Fed president told Barron’s Oct. 12 more tightness is needed, favoring smaller, more frequent moves without identifying a meeting. Reuters reported Oct. 3 that the Fed may skip October for December.

The Fed says it “does not factor the electoral calendar into its policy debates.” Any election effect remains the analysts’ interpretation.

Watch Oct. 28
A sample of one proves nothing, the probability stands below half, and the odds have swung widely. Odds were about 8.8% in late August and topped out at 70% to 73% on Sept. 23 and 24, per StockWire. They fell to about 47% after the New York Fed president saw no need for urgency on Sept. 29, and Coin Bureau cited about 19% on Oct. 9. Watch whether the odds firm up before Oct. 28, with December the alternative.

Contact [email protected] for any questions or corrections.

Forvis Mazars Wealth Advisors LLC purchased a new stake in CME Group Inc. (NASDAQ:CME – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,455 shares of the financial services provider’s stock, valued at approximately $905,000.

A number of other institutional investors have also recently added to or reduced their stakes in CME. Whipplewood Advisors LLC raised its holdings in shares of CME Group by 2,075.0% during the 1st quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 83 shares during the period. First Community Trust NA acquired a new position in shares of CME Group during the 3rd quarter valued at about $26,000. North Point Portfolio Managers Corp OH acquired a new position in shares of CME Group during the 3rd quarter valued at about $26,000. Main Street Group LTD acquired a new position in shares of CME Group during the 1st quarter valued at about $32,000. Finally, Bayban purchased a new stake in shares of CME Group in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Wall Street Analyst Weigh In Several equities research analysts recently issued reports on CME shares. Barclays raised their price objective on shares of CME Group from $270.00 to $281.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 7th. Piper Sandler dropped their price target on shares of CME Group from $329.00 to $295.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. UBS Group increased their price target on shares of CME Group from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Keefe, Bruyette & Woods upgraded shares of CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, June 18th. Finally, Weiss Ratings raised shares of CME Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, CME Group currently has an average rating of “Hold” and an average price target of $292.06.

Read Our Latest Research Report on CME Insider Buying and Selling at CME Group In other CME Group news, CEO Terrence A. Duffy sold 15,000 shares of CME Group stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $274.44, for a total transaction of $4,116,600.00. Following the completion of the sale, the chief executive officer directly owned 40,630 shares of the company’s stock, valued at $11,150,497.20. The trade was a 26.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Shepard purchased 293 shares of the firm’s stock in a transaction on Friday, September 25th. The shares were acquired at an average cost of $268.76 per share, with a total value of $78,746.68. Following the completion of the acquisition, the director directly owned 263,289 shares in the company, valued at $70,761,551.64. The trade was a 0.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.

CME Group Stock Up 0.3% Shares of NASDAQ:CME opened at $278.03 on Wednesday. The business has a 50-day moving average price of $272.60 and a 200 day moving average price of $270.72. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $99.97 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 3.63 and a beta of 0.24. CME Group Inc. has a 12-month low of $218.31 and a 12-month high of $329.16.

CME Group (NASDAQ:CME – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. CME Group’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.96 EPS. Sell-side analysts expect that CME Group Inc. will post 12.29 EPS for the current year.

CME Group Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.9%. CME Group’s payout ratio is currently 44.11%.

About CME Group (Free Report)

CME Group Inc operates global derivatives marketplaces that enable customers to manage risk and trade futures and options contracts. Its exchanges offer products linked to interest rates, equity indexes, foreign currencies, agricultural commodities, energy, metals and other asset classes.

The company also provides central counterparty clearing, settlement and related risk-management services for transactions conducted on its markets. In addition, CME Group offers market data, benchmark products and technology services that support trading, analysis and connectivity for financial institutions, businesses, professional traders and other market participants.

CME Group’s history includes the Chicago Board of Trade, founded in 1848, and the Chicago Mercantile Exchange, established in 1898.

Recommended Stories Five stocks we like better than CME Group A Chinese Rival Just Spooked Memory Stocks—How Worried Should Micron Investors Be? Could T-Mobile’s Satellite Competition Fears Create a Buying Opportunity? Surgical Precision, Sustainable Returns: Johnson & Johnson Secures Its Cash Flow Runway Tesla’s Robotaxi Lands in Paris—But Europe’s Real Fight Is Over Cheap EVs

Receive News & Ratings for CME Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CME Group and related companies with MarketBeat.com's FREE daily email newsletter.

Perpetual Ltd lowered its position in CME Group Inc. (NASDAQ:CME – Free Report) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,666 shares of the financial services provider’s stock after selling 1,878 shares during the period. Perpetual Ltd’s holdings in CME Group were worth $24,277,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Whipplewood Advisors LLC raised its position in CME Group by 2,075.0% during the first quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 83 shares in the last quarter. First Community Trust NA purchased a new stake in CME Group in the 3rd quarter worth approximately $26,000. North Point Portfolio Managers Corp OH purchased a new stake in CME Group in the 3rd quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of CME Group during the 2nd quarter worth approximately $28,000. Finally, Bayban acquired a new stake in shares of CME Group during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

Insiders Place Their Bets In other CME Group news, CEO Terrence Duffy sold 15,000 shares of CME Group stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $274.44, for a total value of $4,116,600.00. Following the sale, the chief executive officer owned 40,630 shares in the company, valued at $11,150,497.20. The trade was a 26.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth Cook sold 500 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $280.11, for a total value of $140,055.00. Following the completion of the transaction, the director directly owned 17,916 shares in the company, valued at approximately $5,018,450.76. This trade represents a 2.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by insiders.

CME Group Trading Down 1.2% Shares of CME stock opened at $277.24 on Tuesday. CME Group Inc. has a fifty-two week low of $218.31 and a fifty-two week high of $329.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $272.29 and its two-hundred day moving average is $270.83. The firm has a market capitalization of $99.69 billion, a P/E ratio of 23.51, a PEG ratio of 3.67 and a beta of 0.24. CME Group (NASDAQ:CME – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, beating the consensus estimate of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm earned $2.96 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts expect that CME Group Inc. will post 12.29 earnings per share for the current fiscal year.

CME Group Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $5.20 annualized dividend and a yield of 1.9%. CME Group’s dividend payout ratio (DPR) is 44.11%.

Analyst Ratings Changes A number of analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of CME Group in a report on Friday, October 2nd. They set an “overweight” rating and a $301.00 price target on the stock. Wall Street Zen raised shares of CME Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of CME Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $286.00 to $270.00 in a research report on Wednesday, August 19th. The Goldman Sachs Group decreased their price objective on shares of CME Group from $267.00 to $245.00 and set a “sell” rating for the company in a research report on Tuesday, June 30th. Finally, Morgan Stanley increased their target price on shares of CME Group from $330.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, CME Group currently has a consensus rating of “Hold” and a consensus target price of $292.06.

Get Our Latest Research Report on CME Group

CME Group Company Profile (Free Report)

CME Group Inc operates global derivatives marketplaces that enable customers to manage risk and trade futures and options contracts. Its exchanges offer products linked to interest rates, equity indexes, foreign currencies, agricultural commodities, energy, metals and other asset classes.

The company also provides central counterparty clearing, settlement and related risk-management services for transactions conducted on its markets. In addition, CME Group offers market data, benchmark products and technology services that support trading, analysis and connectivity for financial institutions, businesses, professional traders and other market participants.

CME Group’s history includes the Chicago Board of Trade, founded in 1848, and the Chicago Mercantile Exchange, established in 1898.

Further Reading Five stocks we like better than CME Group Salesforce Just Got a Rare Double Upgrade—What Changed? OpenAI’s Revenue Scare Could Be a Big Opportunity for Investors China Still Dominates Rare Earths—These 3 U.S. Companies Could Benefit 3 REITs That May Win in a Higher Interest Rate Environment

Receive News & Ratings for CME Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CME Group and related companies with MarketBeat.com's FREE daily email newsletter.

, /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that its Corn futures reached a new daily volume record of 1,206,376 contracts on October 9, surpassing the previous record of 1,128,597 contracts traded on March 29, 2019.

"Following last week's surprise USDA report, market participants turned to our Corn futures to quickly adjust positions and manage price risk," said John Ricci, Global Head of Agricultural Products. "The market had priced in lower yields after a challenging summer, yet the report showed ending stocks, yields and production all above expectations. The changing conditions are another example of why we remain focused on equipping clients to manage their risk in any market environment."

CME Group's agriculture business reached an average daily volume of 2,022,488 contracts in the third quarter, up 18.1% year over year. In September, average daily volume reached 1,936,761 contracts, up 28.8% year over year.

In addition, Corn futures reached an average daily volume of 502,004 in the third quarter, up 35.2% year over year, and Corn options reached an average daily volume of 179,674, up 31.4% year over year. 

For more information on CME Group Corn futures, please visit here. 

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners. 

CME-G

SOURCE CME Group

Key Takeaways CME's Q2 average daily volume reached 29.8M contracts, the second-highest second-quarter level on record. Equity index ADV rose 13% and agricultural ADV gained 6%, offsetting declines in other trading segments. Product diversification and electronic trading could support volumes as market volatility normalizes. CME Group Inc. (CME - Free Report) appears capable of sustaining healthy trading volumes over the longer term, although growth may moderate as market volatility normalizes. CME's diversified derivatives portfolio, expanding product offerings and global demand for risk-management tools provide support beyond short-term market uncertainty. However, trading activity remains sensitive to interest-rate expectations, commodity-price movements and geopolitical developments, making it difficult to sustain peak volumes consistently.

In the second quarter of 2026, CME's average daily volume (ADV) reached 29.8 million contracts, down 1.2% year over year but still the second-highest second-quarter level on record. Performance varied across asset classes, highlighting the importance of diversification in supporting overall activity. The results suggest that CME can maintain substantial trading volumes even when growth moderates, although the pace of expansion will depend on participation across its major markets.

CME's diversified product mix is a key advantage. Equity index ADV rose 13% year over year, agricultural ADV increased 6%, and metals activity was broadly flat. These gains helped offset declines in interest-rate, energy and foreign-exchange trading. In addition, electronic trading and growing international participation offer opportunities to attract customers across different market conditions.

However, the sustainability of trading-volume growth will depend on CME's ability to generate demand beyond periods of heightened uncertainty. Softer volatility can reduce hedging and speculative activity, while competition from alternative derivatives products could affect market share.

Overall, CME can sustain substantial trading volumes, but consistently growing them will be challenging if market volatility declines. Product diversification, international expansion and new derivatives offerings should help cushion cyclical fluctuations, while record trading levels may be difficult to replicate without renewed market catalysts.

What About Its Peers?Intercontinental Exchange, Inc. (ICE - Free Report) appears positioned to sustain exchange growth even as market volatility normalizes, although the pace may moderate from elevated levels. The company's diversified product portfolio across financial futures, energy, cash equities and equity options, along with recurring data and connectivity revenues, provides multiple growth drivers. Moreover, recurring exchange revenues grew 10%, providing a more stable source of income. Overall, ICE's diversified revenue streams and recurring data business should help cushion the impact of normalizing volatility, although softer energy trading and fluctuations in transaction volumes remain key risks.

Cboe Global Markets, Inc. (CBOE - Free Report) may be able to sustain trading-volume growth as market volatility normalizes, although performance will depend on whether demand for options and volatility-linked products remains strong. Cboe Global's diversified business across options, U.S. and European equities, futures and global foreign exchange provides multiple sources of trading activity. Its options franchise, particularly SPX index options and VIX futures and options, benefits from investors' demand for portfolio hedging, income generation and risk management. This product mix can help Cboe Global attract trading activity even when market conditions become less volatile.

CME’s Price PerformanceShares of CME have gained 3.4% in the past year, outperforming the industry.

Image Source: Zacks Investment Research

CME’s OvervaluationThe stock is overvalued compared with its industry. It is currently trading at a price-to-earnings multiple of 22.02, higher than the industry average of 20.33.

Image Source: Zacks Investment Research

Estimate Movement for CMEThe Zacks Consensus Estimate for CME’s fourth-quarter 2026 EPS has moved up 0.3% in the past 30 days. The same for full-year 2026 and 2027 EPS has moved up 0.2% and 0.4%, respectively, in the past 30 days.

Image Source: Zacks Investment Research

, /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced it achieved international average daily volume (ADV) of 9 million contracts in Q3 2026, up 22% from a year earlier.

Reflecting all trading reported outside the United States, this volume was driven largely by growth in Energy products, up 40%, Agricultural products, up 28%, and Equity Index products, up 24%.

"Markets remained volatile in the third quarter, with geopolitical issues fueling uncertainty and stoking inflation globally," said Julie Winkler, Chief Commercial Officer at CME Group. "Against this backdrop, customers around the world turned to CME Group to manage their risk, and the growth of our international volumes was testament to that."

International trading volume expanded by at least 20% in the period in all regions including Europe, Middle East and Africa (EMEA), Asia Pacific (APAC), and Latin America.

EMEA ADV increased 20% to 6.5 million contracts driven by:-

Energy products ADV up 33% Agricultural products ADV up 28% Equity Index products ADV up 20% APAC ADV increased by 28% to 2.1 million contracts driven by:-

Energy products ADV up 68% Equity Index products ADV up 32% Agricultural products ADV up 26% Interest Rate products ADV up 24% Canada ADV increased by 21% to 194,000 contracts driven by:-

Energy products ADV up 34% Interest Rate products ADV up 23% Equity Index products ADV up 22% Latin America ADV increased 24% to 188,000 contracts driven by:-

Agricultural products ADV up 49% Equity Index products ADV up 44% Energy products ADV up 23% Globally, CME Group reported an ADV of 29.4 million contracts in Q3 2026, up 16% over the same period in 2025. Q3 volumes in 2026 exceeded the prior Q3 record set in 2024. The increase in Q3 2026 ADV was largely driven by growth in Equity Index products, up 23%, and Foreign Exchange products, up 19%.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

CME-G

SOURCE CME Group

Martin Capital Partners LLC increased its holdings in CME Group Inc. (NASDAQ:CME – Free Report) by 27.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,960 shares of the financial services provider’s stock after purchasing an additional 10,839 shares during the period. CME Group accounts for 4.1% of Martin Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest position. Martin Capital Partners LLC’s holdings in CME Group were worth $13,351,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bridgewater Advisors Inc. acquired a new stake in shares of CME Group in the second quarter worth approximately $612,000. The Manufacturers Life Insurance Company acquired a new position in CME Group during the second quarter worth approximately $53,671,000. Haverford Trust Co acquired a new position in CME Group during the second quarter worth approximately $13,818,000. Bowie Capital Management LLC purchased a new position in CME Group during the second quarter worth approximately $22,991,000. Finally, GSA Capital Partners LLP purchased a new position in CME Group during the second quarter worth approximately $2,807,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets Several analysts have recently issued reports on CME shares. Deutsche Bank Aktiengesellschaft cut shares of CME Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $286.00 to $270.00 in a research note on Wednesday, August 19th. JPMorgan Chase & Co. increased their target price on CME Group from $249.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company assumed coverage on CME Group in a research report on Friday, October 2nd. They issued an “overweight” rating and a $301.00 target price on the stock. Keefe, Bruyette & Woods upgraded CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a report on Thursday, June 18th. Finally, Wall Street Zen raised CME Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, CME Group presently has an average rating of “Hold” and a consensus price target of $291.62.

View Our Latest Stock Report on CME Group Insider Buying and Selling at CME Group In other news, Director Elizabeth A. Cook sold 500 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $280.11, for a total value of $140,055.00. Following the completion of the sale, the director owned 17,916 shares of the company’s stock, valued at $5,018,450.76. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Shepard bought 293 shares of the stock in a transaction dated Friday, September 25th. The stock was bought at an average price of $268.76 per share, with a total value of $78,746.68. Following the purchase, the director owned 263,289 shares of the company’s stock, valued at approximately $70,761,551.64. This represents a 0.11% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.30% of the stock is currently owned by corporate insiders.

Key Headlines Impacting CME Group Here are the key news stories impacting CME Group this week:

Positive Sentiment: Wells Fargo initiated coverage with an Overweight rating, adding a new bullish institutional view on CME’s exchange business and prospects. Wells Fargo initiates coverage of CME Group with overweight rating Positive Sentiment: Record French government debt and widening bond yields could increase demand for interest-rate and bond derivatives. That environment may lift trading volumes at CME and other U.S. market operators as investors hedge risk. Record French Debt Could Create Opportunities for US Market Operators Positive Sentiment: CME remains favorably positioned relative to Intercontinental Exchange. An investor comparison highlights CME’s roughly 22-times earnings valuation and approximately 4.3% dividend yield, which could support its appeal to income-oriented investors. CME Group versus Intercontinental Exchange Neutral Sentiment: Gold prices declined as the U.S. dollar strengthened ahead of Federal Reserve meeting minutes. CME benefits from activity across metals, rates and other futures, but the immediate effect on revenue is unclear. Gold Prices Dip as US Dollar Gains Ahead of Fed Policy Minutes Negative Sentiment: CME suspended plans to launch a 24/7, 10-barrel crude-oil futures contract after resistance from regulators and major industry hedgers. The decision removes a potential new product and revenue opportunity, although it may prevent implementation and liquidity risks. CME Group’s Plan for 24/7 Oil Trading Scrapped Negative Sentiment: Kalshi has asked the CFTC to approve a non-expiring WTI crude-oil futures contract that would trade around the clock. If approved, the product could compete with CME in a strategically important derivatives market. Kalshi Wants Non-Expiring WTI Futures Approval CME Group Price Performance CME opened at $270.27 on Thursday. CME Group Inc. has a 52-week low of $218.31 and a 52-week high of $329.16. The company has a 50 day moving average of $271.63 and a two-hundred day moving average of $271.41. The company has a market cap of $97.18 billion, a P/E ratio of 22.92, a P/E/G ratio of 3.54 and a beta of 0.24. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CME – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.96 EPS. On average, analysts expect that CME Group Inc. will post 12.28 earnings per share for the current year.

CME Group Announces Dividend The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, September 9th. CME Group’s dividend payout ratio is currently 44.11%.

About CME Group (Free Report)

CME Group Inc operates global derivatives marketplaces that enable customers to manage risk and trade futures and options contracts. Its exchanges offer products linked to interest rates, equity indexes, foreign currencies, agricultural commodities, energy, metals and other asset classes.

The company also provides central counterparty clearing, settlement and related risk-management services for transactions conducted on its markets. In addition, CME Group offers market data, benchmark products and technology services that support trading, analysis and connectivity for financial institutions, businesses, professional traders and other market participants.

CME Group’s history includes the Chicago Board of Trade, founded in 1848, and the Chicago Mercantile Exchange, established in 1898.

Read More Five stocks we like better than CME Group Skydance Just Became a Media Giant—With an $80 Billion Debt Load Could Velo3D Be the Next Defense Buyout Target? Penguin Solutions Is Soaring as AI Memory Demand Explodes Alphabet’s Chart Is Coiling—and the Fundamentals May Be Ready to Back It Up

Receive News & Ratings for CME Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CME Group and related companies with MarketBeat.com's FREE daily email newsletter.

1.5K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.