"Aluminum King" Returns to Copper: McNess Bets Big on Front-Month Contracts in Wager on Trump Tariffs

Directly affected

• No company is named in this report.

Indirectly affected

• XLE Energy Select Sector SPDR

  Energy prices move when sanctioned supply is blocked

• USO United States Oil Fund

  This fund moves with oil prices

• XOM Exxon Mobil

  Oil producers move when sanctioned barrels leave the market

• CVX Chevron

  Oil producers move when sanctioned barrels leave the market

• AAPL Apple

  Sales and supply chains are exposed to a new tariff

• NKE Nike

  Sales and supply chains are exposed to a new tariff

• XLB Materials Select Sector SPDR

  A fund of materials companies

• GLD SPDR Gold Shares

  Gold miners and the metal move together

• SLB SLB

  Oilfield work in sanctioned regions can be cut off

• LMT Lockheed Martin

  Defense contractors get more work when conflict spending rises

Price reaction, T-5 to T+3