From the Trading Desk at Stipelis

From The Trading DeskDaily Market Update-Monday, June 15, 2026Markets Climb – Global optimism lifts equitiesMarkets are moving higher as tensions ease and oil pullsback. Bond yields are lower ahead of the Fed meeting. The current tone reflectsrelief more than conviction, with attention shifting toward what policymakerssignal next.Follow the Trading Desk for Market Commentary Stipelis Global Trading LLC is registered with theCommodity Futures Trading Commission and is a member of the National Futures Association.Member ID 0474441The opinions expressed are those of Stipelis Global TradingLLC and are provided for informational and market commentary purposes only. They are not intended as investment recommendations. Individuals should makeinvestment decisions based on their own analysis and in consultation with a financial advisor. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

From The Trading Desk at StipelisThe Daily Market UpdateTuesday, June 9, 2026Tech stocks are Leading the Market LowerMarkets are pulling back after recent strength, with techleading declines and oil dropping sharply. Volatility is rising from low levels while yields stay steady, pointing to a reset in sentiment rather than a clear shift in trend.Follow the Trading Desk for Market Commentary Stipelis Global Trading LLC is registered with theCommodity Futures Trading Commission and is a member of the National Futures Association.Member ID 0474441The opinions expressed are those of Stipelis Global TradingLLC and are provided for informational and market commentary purposes only. They are not intended as investment recommendations. Individuals should makeinvestment decisions based on their own analysis and in consultation with a financial advisor. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

Thursday, May 28, 2026Daily Market CommentaryMarkets showed steady strength with equities pushing higher and volatility declining. Gold gained alongside a softer dollar,while crude oil faded after early strength. Overall tone reflected stable participation and moderate risk appetite.Follow the Trading desk at stipelis for market commentary. Stipelis Global Trading LLC is registered with the CommodityFutures Trading Commission and is a member of the National Futures Association.Member ID 0474441 The opinions expressed are those of Stipelis Global TradingLLC and are considered market commentary. They are not intended to act as investment recommendations. Individuals should make investment decisions based on their own analysis and with direct consultation with a financial advisor.   THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

Daily Market update for Wednesday, May 20, 2026The May 20 session was defined by rotation rather thandirectional conviction. The combination of falling yields, strong equity performance, and aggressive energy selling reflects a market in transition, where capital is being reallocated in response to evolving macro assumptions.The Russell 2000’s outperformance and crude oil’s declineare not isolated events but rather linked outcomes of the same underlying shift. Markets moved away from inflation-sensitive, commodity-driven exposure and toward assets that benefit from easing financial conditions.This type of environment typically produces sharpdivergences across sectors, as seen in this session. While the broader trend in some markets remains intact, the price action highlights how quickly positioning and expectations can adjust when key inputs, particularly interestrates, begin to move.Follow the Trading Desk at Stipelis for Market CommentaryStipelis Global Trading LLC is registered with the CommodityFutures Trading Commission and is a member of the National Futures Association.Member ID 0474441 The opinions expressed are those of Stipelis Global TradingLLC and are considered market commentary. They are not intended to act as investment recommendations. Individuals should make investment decisions based on their own analysis and with direct consultation with a financial advisor.   THE RISK OF LOSS IN TRADING COMMODITYINTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

From the Trading Desk at StipelisFor Tuesday, May 19, 2026Markets showed a clear divergence, with natural gas andagricultural products leading the upside while cocoa declined sharply. The move in natural gas reflected rising demand expectations tied to early heat forecasts. Grains also moved higher, suggesting growing concern around supplyconditions.Cocoa’s decline appeared driven by profit-taking after a strong run. Across broader markets, activity in fixed income pointed to continued uncertainty around interest rates. The session overall highlighted how quickly sentiment can shift, especially in commodities where short-term changes inweather or positioning can drive significant price movement.Follow the Trading Desk at Stipelis for ongoing marketcommentary.The opinionsexpressed are those of Stipelis Global Trading LLC and are considered marketcommentary. They are not intended to act as investment recommendations.Individuals should make investment decisions based on their own analysis andwith direct consultation with a financial advisor. Stipelis Global Trading LLC is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association. Member ID 0474441 THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

Thursday, May 14, 2026Today’s session reflected a relatively steady but mixed toneacross major asset classes. Equity index futures moved higher across the board, with the S and P, Nasdaq, Dow, and Russell all posting moderate gains. The moves were orderly rather than sharp, suggesting continuation rather than ashift in direction.Energy markets continued to provide support, with crude oilextending higher and trading above the 102 level. This ongoing strength in energy remains a notable feature of the current environment and continues to contrast with other areas of the commodity complex.On the other side, Treasury futures moved lower, indicatingslightly higher yields. This appears to be influencing gold, which declined on the session. The interaction between interest rates and metals remains a key cross-market relationship, particularly in periods where financial conditionsare still relatively tight.The U.S. dollar also moved modestly higher, adding anotherfactor influencing global markets. Despite these underlying dynamics, the VIX declined, reflecting relatively calm equity market conditions at the surface level.Taken together, the session highlights a market driven moreby rotation and cross-asset interplay than by a single dominant trend. Strength in equities and energy is being balanced by weakness in bonds and metals, pointing to a landscape that remains active but uneven.Follow the TradingDesk at Stipelis for ongoing market commentary.    The opinionsexpressed are those of Stipelis Global Trading LLC and are considered marketcommentary. They are not intended to act as investment recommendations.Individuals should make investment decisions based on their own analysis andwith direct consultation with a financial advisor. Stipelis Global Trading LLC is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association. Member ID 0474441 THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

Equities and energy led Friday’s gains while cocoa movedsharply lower. Premarket activity shows a reversal, with cocoa rebounding and energy continuing higher. Markets remain steady with sector-driven movement.Stay in touch with the Trading Desk at Stipelis for ongoing market commentary.   Stipelis Global Trading LLC is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association. Member ID 0474441  THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.  The opinions expressed are those of Stipelis Global Trading LLC and are considered market commentary. They are not intended to act as investment recommendations. Individuals should make investment decisions based on their own analysis and with direct consultation with a financial advisor.

From the Trading Desk at Stipelis;Monday, May 4, 2026The opinions expressed are those of Stipelis Global Trading LLC and are considered market commentary. They are not intended to act as investment recommendations. Individuals should make investment decisions based on their own analysis and with direct consultation with a financial advisor. Stipelis Global Trading LLC is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association.  Member ID 0474441 THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

Markets are reacting to higher energy prices as oil extends its rally, keeping inflation concerns front and center. At the same time, global equities are showing mixed behavior, with strength concentrated in a narrower group of stocks.

Markets face a dense week of data and central bankdecisions. Investors will likely focus less on the rate decisions themselvesand more on the language policymakers use. At the same time, energy marketscontinue watching developments around the Strait of Hormuz.Stay in touch withthe Trading Desk at Stipelis for ongoing market commentary.    The opinionsexpressed are those of Stipelis Global Trading LLC and are considered marketcommentary. They are not intended to act as investment recommendations.Individuals should make investment decisions based on their own analysis andwith direct consultation with a financial advisor. Stipelis GlobalTrading LLC is registered with the Commodity Futures Trading Commission and isa member of the National Futures Association. Member ID 0474441 THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING ISSUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

Markets opened the week cautiously after fresh MiddleEast headlines. Oil and volatility moved higher, while equities and the dollarsoftened. This week’s data may help separate headline risk from underlyingeconomic momentum.The opinionsexpressed are those of Stipelis Global Trading LLC and are considered marketcommentary. They are not intended to act as investment recommendations.Individuals should make investment decisions based on their own analysis andwith direct consultation with a financial advisor. Stipelis GlobalTrading LLC is registered with the Commodity Futures Trading Commission and isa member of the National Futures Association. Member ID 0474441 THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

Commentary on the importance of investing in raw materials.