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Market close: US indices end day mixed, close week with gains

By Joseph Toppe

21:58, 19 November 2021

Circuit boards used in technology
Circuit boards used in technology - photo: Shutterstock

The major US gauges wobbled during trading on Friday as the Nasdaq scored a big-win halfway through the session on rising tech shares and as the market readies for a new Federal Reserve chair.

The Dow Jones Industrial Average dropped 266 points, or 0.6%, to 35,602.18, the S&P slipped 0.1% lower to 4,697.98, while the Nasdaq Composite went up 0.4% to 16,057.44.

By mid-day, the Nasdaq Composite Index was 0.6% higher, jumping nearly 92 points to almost 16,085. The tech-heavy index established a new intraday record at 16,102.72.

The Nasdaq 100 also made a new milestone by mid-day, powered by a strong start in tech shares. The larger-cap index was 0.7% higher.

For the week, the Dow tumbled 1.3% for the week, while the Nasdaq Composite improved 1.2% and the S&P popped 0.3%.

White House seeks climate-focussed Fed chair

Economic adviser to US President Joe Biden, Heather Boushey, says climate-related policies are a major priority as the White House considers who it would like to next serve in the top job at the Federal Reserve.

Boushey, a member of the White House’s Council of Economic Advisers, said the Biden administration broadly saw a link between economic policies and risks that come from climate change, in an interview with Yahoo Finance.

Late Friday afternoon, White House spokesperson Jen Psaki says there would be no news on the Fed Chair till “early next week.”

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Winners and losers: Tech shares send Nasdaq high

As US Treasury yields sank further during Friday trading, tech stocks surged and sent both the Nasdaq and Nasdaq 100 into new heights.

Shares for Micron Technology jumped 0.6% and shares for Facebook parent Meta improved 0.3%.

Shares for Nvidia are up 0.6% higher, while shares for Apple increased by 0.14%.

In retail stock, shares for financial software company Intuit surged almost 10% after showing quarterly results that beat Wall Street’s predictions.


16,080.90 Price
+0.500% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 7.0

Oil - Crude

71.41 Price
+2.320% 1D Chg, %
Long position overnight fee -0.0204%
Short position overnight fee -0.0015%
Overnight fee time 22:00 (UTC)
Spread 0.030


0.68 Price
+3.710% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


44,151.85 Price
+1.670% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Shares for FootLocker sank 12% despite reporting third quarter adjusted profit and sales that rose above expectations, while shares for Walmart scratched out a 0.1% gain on Friday, after the company received a bullish boost from MKM Partners’ analyst Bill Kirk.

Home retailer Williams Sonoma saw its stock drop by more than 5% to $210.94 before recovering to $219.30 on the day by 15:00 UTC, representing a climb of 0.22%.

Oil: Crude prices drop amid US, China strategy

Oil prices are down to a six-week low on Friday as countries such as Australia and Austria announce new pandemic lockdowns amid a surge of Covid-19 cases.

West Texas Intermediate crude for December delivery lost 3.7%, or $2.91, to settle at $76.10 a barrel on the contract’s New York Mercantile Exchange expiration day, while January WTI crude dropped 3.2% to settle at $75.94.

January Brent crude slipped 2.9%, or $2.35, to settle at $78.89 a barrel on ICE Futures Europe.

Gold: Gold is down, other metals record weekly losses

On Friday, gold futures settled at their lowest in over a week as the US dollar returns to its highest level in about 16 months.

December gold lost $9.80, or 0.5%, to settle at $1,851.60 an ounce, representing the lowest most-active contract settlement since 10 November.

In other metals, December copper added 2.4% to nearly $4.408 a pound, but still ended 0.9% lower for the week, while January platinum fell 1.9% to $1,036 an ounce.

December palladium went down 3% to $2,073.20 an ounce, notching a 2.1% decline for the week.

Forex: Euro, sterling outperforms US Dollar

The 10-year Treasury yield fell to 1.54% from yesterday’s 1.61%, while Safe-haven currencies strengthened and the WSJ Dollar Index went up 0.4%.

On Friday, one US dollar equals 0.89 of the euro, 0.74 of the pound sterling, and 1.26 of the Canadian dollar.

Read more: Advanced Human Imaging (AHI) deflates 60% on debut

Markets in this article

Apple Inc (Extended Hours)
195.76 USD
1.71 +0.880%
Meta Platforms Inc (Extended Hours)
333.05 USD
6.26 +1.920%
Foot Locker
28.27 USD
-0.17 -0.600%
Foot Locker
28.27 USD
-0.17 -0.600%
574.00 USD
2.3 +0.400%

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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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