A futures contract is an agreement to buy (or sell) some commodity at a fixed price on a fixed date. Futures are commonly available on agricultural products, foreign currencies, stock indexes and certain fixed income securities such as U.S. treasury bills and government bonds. Futures are explicitly designed to allow the transfer of risk from those who want less risk to those who are willing to take on some risk in exchange for compensation.
On March 16, 2000, the DJIA experienced its largest one-day point gain - 499.19 points - to close at 10,630.60.
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Commodity Futures