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Mid-day: Nasdaq hits new high, benchmarks trade mixed

By Joseph Toppe

17:12, 19 November 2021

New York Stock Exchange
NYSE - Photo: Unsplash

US indices are up and down in Friday trading, as the Nasdaq notches a fresh milestone halfway through the session.

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.

The S&P 500 was off by three points, or 0.1%, to around 4,707, while the Dow Jones Industrial Average dropped almost 200 points, or 0.6%, to about 35,670.

Winners and losers: Tech shares mixed

Shares for financial software company Intuit surged almost 10% after showing quarterly results that beat Wall Street’s predictions.

Shares for Micron Technology are up over 8% and shares for Advanced Micro Devices are up over 6%.

In other tech stock, shares for Netflix are down 0.05% after being 0.88% higher earlier in the session.

Shares for Zoom are 0.10% lower after spiking 1.53% in earlier trading, while shares of Facebook parent Meta are up 3.56%, and shares for Peloton are 0.81% higher.

In retail, shares for Walmart went up 0.4% Friday, after the company received a bullish boost from MKM Partners’ analyst Bill Kirk

Shares for Foot Locker sank 12% despite reporting third quarter adjusted profit and sales that rose above expectations.

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2,072.25 Price
+1.760% 1D Chg, %
Long position overnight fee -0.0193%
Short position overnight fee 0.0111%
Overnight fee time 22:00 (UTC)
Spread 0.30


0.62 Price
+0.920% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Oil - Crude

74.50 Price
-1.560% 1D Chg, %
Long position overnight fee -0.0136%
Short position overnight fee -0.0083%
Overnight fee time 22:00 (UTC)
Spread 0.040


38,834.20 Price
+2.700% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Oil: Crude benchmarks fall hard

Oil prices plummeted on Friday as the US and China are expected to release oil from their strategic reserves to boost supplies.

On Friday, Brent crude, the international benchmark, was down 2.5%, to $79.19 a barrel.

West Texas Intermediate (WTI) crude was down 3%, to $76.63 a barrel, and is down 9.5% from its high $84.65 made on 26 October.

Gold: US dollar tempers surging gold prices

Gold futures are rising on Friday but are expected to level off as the US dollar returns to its highest level in about 16 months.

December gold is down 0.15% after its 0.5% drop on Thursday, while December copper added 2% to $4.389 a pound, but still traded down nearly 1.4% on the week.

January platinum is down over 1% at $1,045.80 an ounce, with prices down roughly 4% for the week, while December palladium is down 3.2% to $2,086 an ounce, setting up a weekly loss of 1.5%.

Forex: Euro, sterling outwork US dollar

The yield on the 10-year Treasury note sank over five basis points to around 1.53%, while the ICE US Dollar Index, a measure of the currency against a basket of six major rivals, was up 0.3%, trading around its highest level since July 2020.

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: Crypto prices may have room to run despite recent losses

Markets in this article

Advanced Micro Devices Inc (Extended Hours)
121.38 USD
0.38 +0.310%
Meta Platforms Inc (Extended Hours)
324.70 USD
-1.94 -0.590%
Foot Locker
29.77 USD
2.78 +10.350%
Foot Locker
29.77 USD
2.78 +10.350%
574.42 USD
2.7 +0.470%

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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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