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Sectors

Sector Update: Financial Stocks Edge Higher Pre-Bell Tuesday

Financial stocks were edging higher pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.7% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.3%.EToro (ETOR) stock was up 0.4% after the company reported an increase in Q1 adjusted earnings.CME Group (CME) said it is partnering with Silicon Data to launch a compute futures market later this year, pending regulatory review. Shares of CME Group were 0.8% higher premarket.Goldman Sachs' (GS) private equity business within Goldman Sachs Alternatives acquired FGI Worldwide, the company said. Goldman Sachs stock was down 0.2% pre-bell.

$CME$ETOR$FAS$FAZ$GS$XLF
Commodities

Market Chatter: $7 Billion Oil Bets Placed Ahead of Trump's Iran Announcements Spark Scrutiny

Oil market bets totaling as much as $7 billion were placed ahead of major Iran-related announcements by US President Donald Trump in March and April, a Reuters analysis of exchange data, published Thursday, showed, raising fresh scrutiny over possible insider trading.The trades, spread across crude, diesel and gasoline futures on the Intercontinental Exchange (ICE) and the Chicago Mercantile Exchange (CME), far exceed previously reported positions worth about $2.6 billion.Reuters said it could not determine who placed the trades or whether they originated in the US or abroad.The US Commodity Futures Trading Commission is investigating the activity, a person familiar with the matter told Reuters in April, but has not publicly confirmed a probe.Separately, ABC News reported Thursday that the US Department of Justice is also investigating oil trades linked to the Iran conflict.The trades involved short positions that profited from sharp declines in oil prices following Trump's announcements on Iran. Traders first identified unusual activity on March 23, minutes before Trump delayed and threatened attacks on Iranian power infrastructure, sending oil prices sharply lower.Similar trading patterns appeared on April 7, before Trump announced a ceasefire with Iran; on April 17, before Iranian officials discussed reopening the Strait of Hormuz; and again on April 21, before Trump extended the ceasefire.In response to' request for comment, White House spokesperson Davis Ingle said, "All federal employees are subject to government ethics guidelines that prohibit the use of nonpublic information for financial benefit."He added that any implication that administration officials "are engaged in such activity without evidence is baseless and irresponsible reporting."Reuters' expanded analysis found coordinated sell orders across Brent and West Texas Intermediate crude futures, as well as European diesel and US gasoline contracts, often executed within minutes of key announcements.It found that on March 23 alone, traders sold roughly $2.2 billion in oil and fuel futures contracts shortly before Trump's announcement. Oil prices later fell by over 10%, while fuel prices dropped by about 12%.Reuters cited information from Adi Imsirovic, a veteran oil trader and associate at the Center for Strategic and International Studies, who said the trades appeared "well informed" and noted regulators could trace the activity through exchange data.ICE, CME, the Justice Department, and the CFTC did not immediately respond to requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$CME$ICE
Wire

CME Group Reports Lower April Average Daily Volume

CME Group (CME) said Monday its average daily volume for April was 25.9 million contracts, down 28% from a year earlier.The derivatives marketplace operator reported an ADV of 11.4 million interest rate contracts for the month, as well as 2.9 million energy contracts and 7.8 million equity index contracts.ADV in metals declined 12%, while agriculture and forex ADV decreased 5% and 31%, respectively, from the previous year, CME said.Price: $292.01, Change: $+2.47, Percent Change: +0.85%

$CME
Wire

Autonomous Research Adjusts Price Target on CME Group to $326 From $344, Maintains Outperform Rating

CME Group (CME) has an average rating of hold and mean price target of $309.33, according to analysts polled by FactSet.Price: $284.45, Change: $-0.08, Percent Change: -0.03%

$CME
Wire

CME Sees Record Volumes Offset by Pricing Pressure; Data Services Momentum Remains Strong, RBC Says

CME (CME) reported record average daily volumes across all asset classes and regions in Q1, but gains were partially offset by lower revenue per contract, RBC Capital said in a Wednesday note.RBC noted that Market Data and Information Services remains a key strength, with revenue growth accelerating to about 15% year over year, driven by subscriber growth, pricing initiatives, and new product adoption.Management projects revenue growth for 2026 of about 8.5% year over year to roughly $7.07 billion, slightly below consensus estimates of 9.1%, driven by clearing and transaction fees, market data and information services, and other revenues. Adjusted earnings per share is projected at $12.27 versus $12.34 consensus, according to the report.The brokerage expects continued momentum in data services and retail-driven trading activity but flagged tougher year-over-year comparisons in Q2 due to prior-period macro volatility, while maintaining a constructive outlook on CME's structural growth drivers.RBC maintained its sector perform rating on the stock with a price target of $302.Price: $283.06, Change: $-2.65, Percent Change: -0.93%

$CME
Wire

CME Group Viewed as Strongest Liquidity Venue in Current Market, Morgan Stanley Says

CME Group (CME) is best placed in the current market environment, with recent volatility reducing competitive pressure and pushing traders toward the deepest liquidity pools, Morgan Stanley said Thursday in a report.Debates over inflation and interest rates could lift average daily volume more than 9% in 2026 and 8% in 2027, outpacing the 6% growth seen over the past five years, the report said.CME could also see higher activity as governments run larger deficits, supply chains remain unsettled, and energy markets continue to shift, the report said.Morgan Stanley pointed to rapid growth in CME's event-based contracts, which have drawn 150,000 new accounts and about 215 million trades since their December launch, as well as the exchange's plans to launch 24/7 crypto trading on May 29.9.Still, a softer-than-expected rate per contract in Q1 may weigh on earnings, the report said. Morgan Stanley trimmed its 2027 EPS estimate by 2.5%.Morgan Stanley cut its price target on CME stock to $353 from $362 and maintained its overweight rating.Price: $282.56, Change: $-3.15, Percent Change: -1.10%

$CME
Wire

Barclays Adjusts Price Target on CME Group to $316 From $343, Maintains Equalweight Rating

CME Group (CME) has an average rating of hold and mean price target of $312.73, according to analysts polled by FactSet.Price: $283.45, Change: $-2.26, Percent Change: -0.79%

$CME
Wire

Deutsche Bank Lowers Price Target on CME Group to $322 From $342, Keeps Buy Rating

CME Group (CME) has an average rating of hold and mean price target of $312.73, according to analysts polled by FactSet.Price: $285.37, Change: $-0.34, Percent Change: -0.12%

$CME
Research

Research Alert: CFRA Keeps Buy Opinion On Shares Of Cme Group Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price unchanged at $380 on a forward P/E of 29.1x our 2027 earnings estimate, a premium to the three-year historical average of 23.0x, given strong margins and fewer concerns surrounding competitive threats. We raise our 2026 EPS estimate to $12.48 from $11.79 and increase 2027's by $0.54 to $13.06. Our revenue projections are $7.1 billion and $7.5 billion, respectively. CME delivered record Q1 revenue, average daily volume, and earnings, demonstrating strong operational performance. The company is successfully navigating competitive pressures, and we anticipate margin expansion in 2026. AI threats are also not showing up as CME's market data and information services segment (13% of revenue) has posted accelerating growth for six consecutive quarters. Despite these strengths, including best-in-class margins and minimal AI risk, the stock trades below both peer multiples and CME's historical average on a forward P/E basis, creating an attractive buying opportunity.

$CME
Sectors

Sector Update: Financial Stocks Advance Pre-Bell Wednesday

Financial stocks were advancing pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.3%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.7%.Moody's (MCO) shares were up more than 2% after the company posted higher Q1 adjusted earnings and revenue.Stifel Financial (SF) stock was up more than 3% after the company reported higher Q1 non-GAAP earnings and net revenue.CME Group (CME) shares were down more than 1% even after the company reported higher Q1 adjusted earnings and revenue.

$CME$FAS$FAZ$MCO$SF$XLF
Research

Research Alert: Cme: Q1 Eps Miss Despite Record Results; Margin Expands To 72.8%

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CME Group Inc. (CME) posted strong Q1 2026 results with adjusted EPS of $3.36 vs. $2.80 in the prior year, missing consensus by $0.01, while revenue of $1.88B grew 14% Y/Y but missed estimates by 1%. Despite the misses, this was a record quarter with revenue, market data, net income, and EPS all hitting record highs. We attribute the misses to lofty expectations rather than company weakness, as CME demonstrated exceptional operational performance. ADV surged 22% to a record 36.2M contracts with broad-based growth across all six asset classes, led by metals (+130% Y/Y) and energy (+37%). However, the rate per contract declined 5% to $0.652, pressuring profitability. Market data revenue accelerated 15% to a record $224M, continuing double-digit growth and providing valuable recurring revenue stability. We believe CME's extraordinary 72.8% operating margin (+170 bps Y/Y) reinforces the quality of its market infrastructure franchise while investing in strategic initiatives.

$CME
Commodities

Update: CFTC Reportedly Probes Oil Futures Trades Timed Ahead of Iran-Related Policy Moves

(Updates with comments from the White House, ICE and CME in paragraphs five to nine.)The US Commodity Futures Trading Commission is investigating a series of oil futures trades executed shortly before major US policy developments tied to President Donald Trump's handling of the Iran conflict, news outlets reported on Wednesday.The inquiry is reportedly examining trading activity in crude oil futures on exchanges operated by CME Group (CME) and Intercontinental Exchange (ICE), focusing on at least two instances on Mar. 23 and Apr. 7.Investigators have requested exchange records, including so-called "Tag 50" identifiers that can reveal the entities behind the trades, the reports said.The scrutiny follows concerns raised by market participants and at least two Democratic senators that the unusually well-timed trades may have generated significant profits and could indicate the use of non-public information.Responding to' query, Davis Ingle, White House spokesperson, said all federal employees are subject to government ethics guidelines prohibiting the use of non-public information for financial benefit."However, any implication that administration officials are engaged in such activity without evidence is baseless and irresponsible reporting. The CFTC will always uphold its duty to monitor fraud, manipulation, and illicit activity daily," Ingle added.ICE declined to comment in response to' request.CME Group's spokesperson Anita Liskey told, "Nothing is more important than market integrity. At CME Group, we vigorously surveil our markets and work closely with the CFTC to oversee trading activity.""Importantly, any review of market behavior must include all venues, including prediction markets like Polymarket and Kalshi that list related products with little to no visibility," she said in an emailed response.The CFTC did not immediately respond to requests for comment.On Mar. 23, oil and stock futures worth billions of dollars were traded 15 minutes before Trump said previously threatened strikes on Iranian energy infrastructure would be delayed.Last week, investors placed roughly $950 million in bullish oil positions hours before the US and Iran announced a ceasefire, the reports said.The White House is reported to have previously cautioned staff against using sensitive government information for personal trading in futures markets during the ongoing Iran conflict.Last month, the CFTC's enforcement director said the agency was monitoring potential market misconduct and manipulation in energy markets and was aware of recent speculation about insider trading in CFTC-regulated products.Price: $163.49, Change: $-1.58, Percent Change: -0.96%

$CME$ICE
Commodities

Update: CFTC Reportedly Probes Oil Futures Trades Timed Ahead of Iran-Related Policy Moves

(Updates with comments from ICE and CME in the fifth, sixth and seventh paragraphs.)The US Commodity Futures Trading Commission is investigating a series of oil futures trades executed shortly before major US policy developments tied to President Donald Trump's handling of the Iran conflict, news outlets reported on Wednesday.The inquiry is reportedly examining trading activity in crude oil futures on exchanges operated by CME Group (CME) and Intercontinental Exchange (ICE), focusing on at least two instances on Mar. 23 and Apr. 7.Investigators have requested exchange records, including so-called "Tag 50" identifiers that can reveal the entities behind the trades, the reports said.The scrutiny follows concerns raised by market participants and at least two Democratic senators that the unusually well-timed trades may have generated significant profits and could indicate the use of non-public information.ICE declined to comment in response to' request.CME Group's spokesperson Anita Liskey told, "Nothing is more important than market integrity. At CME Group, we vigorously surveil our markets and work closely with the CFTC to oversee trading activity.""Importantly, any review of market behavior must include all venues, including prediction markets like Polymarket and Kalshi that list related products with little to no visibility," she said in an emailed response.The CFTC and the White House did not immediately respond to requests for comment.On Mar. 23, oil and stock futures worth billions of dollars were traded 15 minutes before Trump said previously threatened strikes on Iranian energy infrastructure would be delayed.Last week, investors placed roughly $950 million in bullish oil positions hours before the US and Iran announced a ceasefire, the reports said.The White House is reported to have previously cautioned staff against using sensitive government information for personal trading in futures markets during the ongoing Iran conflict.Last month, the CFTC's enforcement director said the agency was monitoring potential market misconduct and manipulation in energy markets and was aware of recent speculation about insider trading in CFTC-regulated products.Price: $164.13, Change: $-0.94, Percent Change: -0.57%

$CME$ICE
Commodities

CFTC Reportedly Probes Oil Futures Trades Timed Ahead of Iran-Related Policy Moves

The US Commodity Futures Trading Commission is investigating a series of oil futures trades executed shortly before major US policy developments tied to President Donald Trump's handling of the Iran conflict, news outlets reported on Wednesday.The inquiry is reportedly examining trading activity in crude oil futures on exchanges operated by CME Group (CME) and Intercontinental Exchange (ICE), focusing on at least two instances on Mar. 23 and Apr. 7.Investigators have requested exchange records, including so-called "Tag 50" identifiers that can reveal the entities behind the trades, the reports said.The scrutiny follows concerns raised by market participants and at least two Democratic senators that the unusually well-timed trades may have generated significant profits and could indicate the use of non-public information.The CFTC, CME, ICE and the White House did not immediately respond to requests for comment from.On Mar. 23, oil and stock futures worth billions of dollars were traded 15 minutes before Trump said previously threatened strikes on Iranian energy infrastructure would be delayed.Last week, investors placed roughly $950 million in bullish oil positions hours before the US and Iran announced a ceasefire, the reports said.The White House is reported to have previously cautioned staff against using sensitive government information for personal trading in futures markets during the ongoing Iran conflict.Last month, the CFTC's enforcement director said the agency was monitoring potential market misconduct and manipulation in energy markets and was aware of recent speculation about insider trading in CFTC-regulated products.

$CME$ICE

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