Return of Shipping to Red Sea a Step Closer, Xeneta Says - Market Talk — Market Talk

By Evie Liu

The S&P 500 is set to undergo a quarterly rebalancing on Friday after the market closes. Investors are closely watching — and some are speculating — what changes will be made to the index.

Alnylam Pharmaceuticals, Ares Management, CRH, and Vertiv Holdings are likely to join the benchmark index, according to KBW analyst Shreyank Gandhi, Barron's previously reported . Other possible additions to the index include Carvana, Cheniere Energy, Coupang, Ferguson Enterprises, SoFi Technologies, and Strategy, according to Gandhi.

Any changes to the index usually takes about 5 trading days before they become effective, because index funds need a short window to rebalance their portfolios without blowing up liquidity.

The S&P 500 index is rebalanced each quarter, with new companies added if they meet the criteria of S&P Dow Jones Indices, which oversees the index. The admission committee looks at factors such as market value, profitability, and sector representation.

Andrew Bary contributed to this report.

Write to Evie Liu at evie.liu@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

Natural gas futures climb over 9% for the week, as cold temperatures moved through the U.S., increasing the demand as more consumers run their heaters. What also is underpinning stronger natural gas futures is the demand for U.S. exports, says Capital Economics in a note. "The increase in U.S. natural gas prices has come alongside a surge in LNG exports, with record high volumes of feedgas flowing into export terminals," says the firm. In 2025, U.S. LNG exports have jumped to roughly 15 billion cubic meters. For today, natural gas rose 4.5% to $5.289 per mmbtu. (kirk.maltais@wsj.com)

NextEra Energy Inc. (NEE) filed a Form 8K - Other Events - with the U.S Securities and Exchange Commission on December 05, 2025.

On December 5, 2025, Florida Power & Light Company sold $650 million principal amount of its 4.70% First Mortgage Bonds, Series due February 15, 2036 (2036 Offered Bonds) and $1,150 million principal amount of its 5.60% First Mortgage Bonds, Series due February 15, 2066 (2066 Offered Bonds and together with the 2036 Offered Bonds, the Offered Bonds). The Offered Bonds were registered under the Securities Act of 1933 pursuant to Registration Statement Nos. 333-278184, 333-278184-01 and 333-278184-02. In connection with the sale of the Offered Bonds, this Current Report on Form 8‑K is being filed to report certain documents as exhibits.

The full text of this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/753308/000075330825000062/nee-20251205.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/753308/000075330825000062/0000753308-25-000062-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.

Multiple geopolitical hot spots push crude oil prices up 2.6% to $60.08 a barrel this week. It's the second straight week that crude oil has gained, making it 3.5% that oil has risen in that time period. Conflicts in the world including an escalation by the United States toward Venezuela, which could impact demand as Venezuela is a key supplier to nations like China. But what's also lifting crude oil is the lead-up to the Federal Reserve's next meeting. Policy makers are expected to cut the interest rate, potentially boosting commodity demand, says Phil Flynn of Price Futures Group in a note. For the day, the WTI contract finishes up 0.7%, while Brent crude climbs 0.8% to $63.75 a barrel. (kirk.maltais@wsj.com)

WTI-PHYSICAL - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 1,000 BARRELS)                         OPEN INTEREST:    2,375,562 
COMMITMENTS 
 270,847  155,999  1070375  959,017  1088228  2300239  2314603   75,324   60,960 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:    -93,148) 
  -3,256  -28,632  -55,038  -26,693   -6,744  -84,987  -90,413   -8,161   -2,735 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
    11.4      6.6     45.1     40.4     45.8     96.8     97.4      3.2      2.6 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      341) 
     138       81      177      105      106      319      298 
 
 
CRUDE OIL CAL SPREAD OPT FIN - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 1,000 BARRELS)                         OPEN INTEREST:      283,156 
COMMITMENTS 
  14,871   26,776  110,250  154,713  144,187  279,833  281,213    3,323    1,943 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:      7,220) 
   2,413    4,594      820    4,177    2,063    7,410    7,477     -189     -257 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
     5.3      9.5     38.9     54.6     50.9     98.8     99.3      1.2      0.7 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       41) 
       6        8        9       26       26       37       38 
 
 
WTI FINANCIAL CRUDE OIL - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 1,000 BARRELS)                         OPEN INTEREST:      170,277 
COMMITMENTS 
  55,810   27,619    6,393   82,777  102,457  144,980  136,469   25,297   33,808 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:      7,700) 
   4,123   -1,062      -41    3,285    5,335    7,367    4,232      333    3,468 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
    32.8     16.2      3.8     48.6     60.2     85.1     80.1     14.9     19.9 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       51) 
       5        5        6       33       26       40       35 
 
 
CRUDE OIL AVG PRICE OPTIONS - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 1,000 BARRELS)                         OPEN INTEREST:      139,578 
COMMITMENTS 
  46,666   22,052   17,476   70,824   92,555  134,966  132,084    4,612    7,494 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:    -10,723) 
   2,052     -154   -4,016   -8,384   -5,932  -10,348  -10,101     -375     -621 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
    33.4     15.8     12.5     50.7     66.3     96.7     94.6      3.3      5.4 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       35) 
      11        1       12       20       23       32       35 
 
 
BRENT LAST DAY - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 1,000 BARRELS)                         OPEN INTEREST:      238,441 
COMMITMENTS 
  48,894   65,365   84,110   95,727   82,518  228,731  231,993    9,710    6,449 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:     -7,686) 
     949    2,213   -1,859   -9,004   -9,055   -9,913   -8,701    2,228    1,015 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
    20.5     27.4     35.3     40.1     34.6     95.9     97.3      4.1      2.7 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       55) 
      19       12       30       20       19       50       51 
 
 
WTI  HOUSTON ARGUS/WTI TR MO - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 1,000 BARRELS)                         OPEN INTEREST:      384,834 
COMMITMENTS 
  11,152   59,206   16,241  352,301  292,151  379,694  367,598    5,140   17,236 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:    -32,529) 
  -5,810  -12,848      878  -27,109  -17,368  -32,041  -29,338     -488   -3,191 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
     2.9     15.4      4.2     91.5     75.9     98.7     95.5      1.3      4.5 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       43) 
       3        6        4       26       26       32       33 
 
 
WTI MIDLAND ARGUS VS WTI TRADE - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 1,000 BARRELS)                         OPEN INTEREST:      264,330 
COMMITMENTS 
   9,188    2,953    4,465  244,424  241,885  258,077  249,303    6,254   15,028 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:     -8,695) 
  -2,646   -1,717     -520   -5,533   -7,817   -8,699  -10,054        4    1,358 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
     3.5      1.1      1.7     92.5     91.5     97.6     94.3      2.4      5.7 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       35) 
       1        2        1       16       22       18       24 
 
     Write to Linda Rice at csstat@dowjones.com 
 

PALLADIUM - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 100 TROY OUNCES)                       OPEN INTEREST:       24,018 
COMMITMENTS 
   8,269    8,938    4,958    7,742    8,825   20,969   22,721    3,050    1,297 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:       -153) 
    -368       98       80       19     -316     -270     -138      117      -15 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
    34.4     37.2     20.6     32.2     36.7     87.3     94.6     12.7      5.4 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      174) 
      74       50       44       29       36      127      109 
 
 
PLATINUM - NEW YORK MERCANTILE EXCHANGE 
OPTION AND FUTURES COMBINED POSITIONS AS OF 10/28/25          | 
--------------------------------------------------------------| NONREPORTABLE 
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS 
--------------------------|-----------------|-----------------|----------------- 
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short 
-------------------------------------------------------------------------------- 
(CONTRACTS OF 50 TROY OUNCES)                        OPEN INTEREST:       91,217 
COMMITMENTS 
  46,392   26,930   16,904   18,344   43,364   81,640   87,198    9,577    4,018 
 
CHANGES FROM 10/21/25 (CHANGE IN OPEN INTEREST:        276) 
  -1,674   -4,414    3,640   -1,152    1,063      814      290     -538      -14 
 
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 
    50.9     29.5     18.5     20.1     47.5     89.5     95.6     10.5      4.4 
 
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      249) 
     139       45       49       36       50      195      126 
 
     Write to Linda Rice at csstat@dowjones.com