Jerome Powell has been renominated as Federal Reserve chairman, presiding over fiscal policy for a further four years and ending speculation on a successor.
Powell was selected by former President Donald Trump in 2018 to succeed Janet Yellen.
Federal Reserve governor Lael Brainard - who has been tipped to replace Powell - was nominated to serve as vice chair in appointments made by President Biden.
"Powell and Brainard share the Administration’s focus on ensuring that economic growth broadly benefits all workers," The White House said in a statement.
On the markets, the Dow Jones gained 87 points to 35,689 while gold futures fell 1.78% and crude was down 0.7% on the NYMEX.
Read more: Fed chair nominations imminent
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.