Over-the-counter markets are used to bypass traditional exchanges while trading

Spot markets are where commodities intended for relatively immediate delivery are traded

Spot markets are where physical securities are exchanged for cash. Also known as cash markets or physical markets, the trades are relatively immediate—both parties agree to an immediate transfer. Currencies and securities can also be traded on spot markets.

It's tough to measure just how much the global commodities market is worth

That's partly because of all the different ways and places commodities are traded—such as futures exchanges, spot markets, and over-the-counter deals. Additionally, the same commodity can be traded multiple times in different markets, making it easy to risk duplicating trade values in calculations.

Commodity trading is regulated by the CFTC to mitigate fraud and risk

Established in 1974, the CFTC regulates these markets (including swaps, futures, and certain types of options) to protect market participants from fraud, ensure fair trading conditions, and generally reduce financial risk.

Retail investors can get exposure to commodities via various financial vehicles

While retail investors likely won't go out and purchase a bushel of commodity wheat to trade, they can get exposure to the commodities market via commodity ETFs sold on traditional stock exchanges like the NYSE and Nasdaq and other financial vehicles. There are benefits to adding commodities to a retail investor portfolio (such as a hedge against inflation and a typically low correlation with more traditional asset prices), experts caution that commodities are usually volatile investments.

How exchanges like the Chicago Mercantile act as trading referees

Chicago's Mercantile Exchange emphasizes futures contracts on commodities. This podcast episode breaks down how exchanges actually work, make money, and streamline the market.

What is after-hours trading?

While both the New York Stock Exchange and the Nasdaq open at 9:30 am ET and close at 4 pm ET, some trading is allowed after that. After-hours trading was once only open to institutional investors and people with particularly high net worths. Now, with the advent of computers, anyone can trade stocks anywhere online, and those regulations have broadened.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

OTC hearing aids are now available in the US and cheaper than prescription ones

The devices, available in recent years, are typically more affordable than prescription ones and are intended for people with mild to moderate hearing loss, yet surveys suggest people often don't feel comfortable choosing one on their own. The nonprofit Consumer Reports ranked available OTC options to help patients navigate the market.

Crypto exchanges are online platforms to buy, sell, and exchange cryptocurrencies

Crypto exchanges have grown alongside and fueled the boom in digital currencies. Popular exchanges like Coinbase, Kraken, and Binance each have separate features, fee structures, and more. You can learn how to begin with the platforms, how to carry out research, and when to be aware of the associated risks.

Alternative investments can include everything from cryptocurrency to fine art

The financial assets typically fall outside the scope of traditional investments like stocks and bonds, and they’re often intended to diversify investor portfolios.

As technology evolved, so did Wall Street

Before the telephone was invented in the mid 1800s, people had to trade stocks in person. But once office telephones and computers became commonplace, banks and other financial institutions didn't necessarily need to have their headquarters near exchanges like Wall Street's New York Stock Exchange.

OPEC often intervenes to influence the price of oil

This guide explains how investing in oil works with in-depth explanations of each of the forces that control oil’s price. Oil is unique as a commodity in part because of OPEC’s role in regulating its price.

Understanding how non-profit entities manage electric grids to ensure supply-demand balance

Independent System Operators in smaller areas and Regional Transmission Organizations that operate across multiple states run wholesale electricity markets. Electricity suppliers can submit competitive bids to meet estimated demand in day-ahead markets while keeping consumer costs low. ISOs and RCOs also inform markets of deviations in these estimates so that suppliers can adjust how much power they generate, which is then bought and sold in real time.

Investors trading their municipal bonds can't use the same method to purchase them

Instead, they’ll have to go through the secondary market, which has its own set of rules and steps to follow. An illustrated, explanatory video can help you learn how to sell your municipal bonds for the best market value.

Silk Road, the dark web's first widely used market, proved the real-world utility of bitcoin

Named after the ancient intercontinental trade network between China and the Roman Empire, the anonymous market was active from early 2011 to October 2013. Before it was shut down, approximately 10,000 products—70% of which were illegal and controlled prescription drugs—were bought and sold using the cryptocurrency.

Insider trading is the practice of trading a company's securities based on material, nonpublic information

"Material, nonpublic" information is essentially any undisclosed information that could have a substantial impact on an investor's decision to trade a security. While the practice is strictly prohibited on the stock market, it's now being discussed regarding less-regulated but increasingly popular prediction markets.

Call options 101

A call option is a contract that gives the option buyer the right to buy an underlying asset at a specified price within a specific time period. A call buyer profits when the underlying asset increases in price. Learn more about the financial contract and how you can use it in this article.

Trade between the US and China has increased in recent decades

After China joined the World Trade Organization in 2001, the trade partnership between the US and China bloomed. But it's not without pros and cons, including lower prices for US consumers and higher profits for US corporations alongside the loss of American jobs due to import competition and multinational companies moving overseas.

Many investment bankers work on IPOs

When a company undertakes an IPO, investment banks often buy many of the organization’s shares directly from the company, in order to sell the shares on the stock market. The bank stands to profit after marking up the shares.

'The Great Onion Corner:' Hear how short-selling onions ended with a ban on onion futures

In the early 1950s, onion farmer and produce trader Vince Kosuga cornered the onion market, resulting in a 1958 ban on onion futures from Congress. After stockpiling onions and buying onion futures, Kosuga then began shorting them. Then, he released his accumulated surplus of onions, driving the price down to essentially zero, and cashed in his short positions.

The dot-com stock bubble taught Howard Marks about markets

Annual investment letters from Howard Marks, the billionaire cofounder of top distressed debt shop Oaktree Capital Management, are required reading on Wall Street. The prolific writer and investor explains the distinction between the folly of trying to time the market and the necessity of paying attention to market cycles. The difference makes all the difference in returns.

A 'bilateral monopoly' occurs when there's one supplier and one buyer in a market

Bilateral monopolies are often used to conceptualize labor markets in small towns. Using this concept, large employers have a monopoly over the labor market, while workers have a monopsony as the only available laborers.

Before the modern banking system, most lending resembled private credit

Before the creation of the modern banking system, the majority of loans were negotiated directly between the lender and the borrower—effectively making them private credit transactions.

What is the Overton Window?

The concept of the Overton window is an excellent framework through which to analyze why politicians talk (or avoid) certain topics and policy positions, and how ideas change over time as societal attitudes evolve.

The Fed operates within the open market as a competitive bidder of interest rates

Because it’s viewed as a risk-free platform to earn interest, whatever rate it sets becomes the default benchmark. To maintain its target rate prescribed by the Federal Open Market Committee, the Fed has various tools it offers both commercial banks and home loan institutions.

Opioids are a class of drugs including fentanyl, heroin, oxycodone, and more

Since the dawn of pain, living things have sought ways to mitigate this evolutionary warning signal. One of nature's most effective painkillers is opium, a highly addictive, milky latex extracted from poppy plants. This forms the basis of one of the most prescribed classes of modern drugs.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

The hormonal disorder PCOS was renamed PMOS in 2026, a move designed to improve care and research by shifting the focus to the hormonal causes of this condition that affects 1 in 8 women.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

Most of the observable universe's volume consists of voids and supervoids—enormous regions of space with little to no galaxies, stars, or light.

Objects can be 3D printed with light by projecting 2D computerized tomography (CT) scans onto rotating cylinders of resin, which solidify upon exposure.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Watch how deep-sea mining equipment collects and processes polymetallic nodules—metal-rich, potato-shaped rocks—from the ocean floor and creates environmentally damaging plumes of sediments.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Doctors differentiate between a phobia and fear by asking patients whether their fear interferes with their day-to-day activities.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

While atoms are normally made of protons, neutrons, and electrons, exotic ones have been built with antimatter—alternate versions of normal matter that live for fractions of a second and are about a billion times as rare.

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.

'Silent' fireworks have gained more interest in recent years as a quieter celebratory option.

Some renewable energy sources may weaken the resiliency of electric grids by removing outage buffers provided by coal- and natural gas-fired plants, which provide the system with more time to find a new power source if a plant goes down.

Watch how viruses like Ebola can spill over from animals to humans—and vice-versa.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

American short story writer Flannery O'Connor raised 40 peacocks, which became potent symbols for her fiction's elegant violence