Palladium futures gained 2.4%, futures brokers noting speculative buying following reduced supply forecasts from major mining exporters. Auto manufacturing equities are slightly outperforming. Shares of Interactive Brokers Group surged 7.8% following its Q2 2025 results on Jul. 17. Adjusted EPS of $0.51 and net revenues of $1.48 billion both beat estimates, driven by a 49% jump in daily average revenue trades (DARTs) to 3.55 million and a 32% increase in customer accounts to 3.87 million. The July-loading FOB Santos premium was up by 7 cents per bu to 97 cents per bu over July CME futures. Early market positioning from top futures brokers shows Dow Jones Industrial Average futures up 0.3% to 38,650, supported by financial sector strength after strong bank earnings. Rotation into cyclicals is evident in swap data.
