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Market close: S&P rebounds for session milestone

By Joseph Toppe

21:56, 18 November 2021

S&P 500
S&P - Photo: Shutterstock

US indices ended trading mixed on Thursday as investors kept a close eye on retail earnings.

At the close of Thursday’s session, the Dow Jones Industrial Average was 60.10 points lower, or 0.2%, at 35,870.95, the S&P 500 improved 15.87 points, or 0.3%, to end at a record 4,704.54, while the Nasdaq Composite went up 72.14 points, or 0.5%, finishing at a record 15,993.71.

On Wednesday, two of the three major gauges notched losses but remained within striking distance of all-time highs, with the S&P just 0.3% away from a record, and the Nasdaq Composite just 0.4% from an all-time closing high.

Winners and losers: Retail drives mid-week trading

Vinod Jain, senior analyst of Capital Markets at the Aite-Novarica Group in Boston, Massachusetts, said retail earnings are influencing the movement of major US benchmarks as “early shopping picks up for the holiday season.”

Additionally, there is a “realisation that neither the mall or online shopping can win the battle, and both are here to stay,” he said in an interview with “At a certain point, online shopping could become mentally tiring.”

Shares of Macy’s are up over 21% after the long-time retailer reported third-quarter earnings that beat estimates and pitched investors on its growth in e-commerce.

Shares of Kohl’s went up 7.8%, after raising their full-year guidance and showing earnings that beat analysts’ predictions.

Shares of Apple are up 2.9% at the close of trading on Thursday following reports the company is investing in self-driving functions.

Shares of Cisco sank 5.5% following a disappointing guidance, while shares for Deere hopped 1% after the company reached an agreement with employees and a strike slated for 14 October was called off.

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Oil: Crude picks up steam during second half

Oil futures are higher on Thursday as the US benchmark, West Texas Intermediate crude for December delivery, went up 0.8% to settle at $79.01 a barrel on the New York Mercantile Exchange.


15.36 Price
+5.850% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.16


134.12 Price
+7.790% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.25


239.02 Price
+1.900% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.14


147.02 Price
+0.760% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.14

Brent crude hit a session low of $77.08.

January Brent crude the global benchmark, added 96 cents, or 1.2%, at $81.24 a barrel.

Gold: Metals close lower, gold and silver down

On Thursday, gold retreated from its high-water mark since the summer.

December gold dropped $8.80, or 0.5%, to settle at $1,861.40 an ounce, following a 0.9% gain on Wednesday.

December silver lost 27 cents, or 1.1%, to end at $24.90 an ounce, following a 0.9% gain on Wednesday.

Forex: US dollar outworks krone and ruble

The yield on the 10-year Treasury note dipped 1.8 basis points to 1.586%, while the ICE US Dollar Index, a measure of the currency against a basket of six major rivals, was down 0.3%.

Also on Thursday, the Norwegian krone (NOK) was down 0.2% when compared to the US dollar, the Russian ruble (RUB) lost 0.7%, while the USD/CAD is largely the same.

Sterling benefitted from both strong labour and inflation data this week, gaining ground against its peers. Cable (GBP/USD) is up 0.1% from previous close, while EUR/GBP is flat after falling to 0.8385 yesterday.

Read more: Rivian (RIVN), Lucid (LCID) shares fall as investors cash in

Markets in this article

Apple Inc (Extended Hours)
191.20 USD
1.25 +0.660%
48.51 USD
0.05 +0.100%
368.88 USD
4.34 +1.190%
368.88 USD
4.34 +1.190%
368.88 USD
4.34 +1.190%

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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.
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