CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Business news: Tesla Cybertruck coming, US await retail data

By Jenny McCall

12:51, 14 January 2022

A picture of Tesla Cybertruck electric pick-up
Tesla Cybertruck electric pick-up - Photo: Shutterstock

Key Points

News announced late last night shows that US sports streaming company DAZN may buy UK’s BT Sport for an estimated $800m. This would give the company access to sought-after rights to stream English Premier League (EPL) matches, according to Reuters.

Tesla Inc (TSLA) will launch its much-hyped Cybertruck at the start of 2023, a source told Reuters.

North Korea has fired two ballistic missiles today, this was its third in less than two weeks and came just hours after critiquing new US imposed sanctions, which have been authorised by President Joe Biden.  

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Top business and economic news today

  • Citigroup has announced it will sell its consumer business in four of its Southeast Asian markets to United Overseas Bank for $5bn.
  • China will release crude oil from its reserves in February, it was announced today.

Markets today

  • Stocks: European stocks fell on Friday and Wall Street futures singled a mixed opening as investors braced themselves for rate hikes.
  • Oil: Oil futures rose today, with brent crude hitting a two-month high.
  • Gold: Gold prices held on to its 1-week high today.
  • Forex: US dollar fell today to its lowest in more than two months.
  • Crypto: Bitcoin fell by 3.46% today, alongside Ethereum, which plunged by over 4%.  

What to watch today

  • US retail sales data due at 1330 GMT

Read more: Citibank to exit consumer banking business in four SEA countries

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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