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US English

Mid-day: US gauges mix in early trading

By Joseph Toppe

17:09, 18 November 2021

Wall Street
Wall Street - Photo: Unsplash

The major US indices are mixed on Thursday as retail earnings remain a hot topic on Wall Street.

By 12 pm EDT (UTC-5), the Dow Jones Industrial Average was down 103 points or 0.29%, the S&P 500 was up 0.23%, while the Nasdaq Composite was 0.4% higher.

Despite the dip in recent sessions, both the S&P and Nasdaq remain on pace for a positive week and are sitting less than 1% from their records. The Dow is just 2% from its record.

Winners and losers: retail earnings keep winning

Shares of Macy’s are up over 18% to a price of $36.50 per share at market open as the company beat third-quarter earnings estimates and pitched investors on its growth in e-commerce.

Shares of Kohl’s went up 7.4%, after the retailer released earnings that beat analysts’ estimates and raised their full-year guidance.

Shares of Nvidia are up almost 10% following the company’s report showing ‘wins’ on the top and bottom lines.

Advanced Micro Devices jumped 4% on Thursday, while shares for Qualcomm and Micron Technology both improved by 2%.

GlobalFoundries popped 4% after a partnership with Ford to boost its chip supply.

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Oil today: Crude hits 6-week low in early trading

Oil futures were falling early on Thursday, as prices hovered near six-week lows.


239.52 Price
-0.120% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.36


455.31 Price
-2.360% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.53


14.91 Price
-2.000% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.18


6.91 Price
+32.880% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.04

As the session continues, oil prices are beginning to find small gains.

January Brent crude, the global benchmark, was down six cents, or nearly 0.1%, at $80.22 a barrel. By 12:15 pm EDT, the prices were up 0.60% to $80.75.

Gold today: precious metal falls after Wednesday’s big win

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

December gold was off $9.80, or 0.5%, at $1,860.40 an ounce, following a 0.9% win yesterday, sending the metal to the highest close since 11 June.

December silver was trading 18 cents, or 0.8%, lower at $24.95 an ounce, following a 0.9% gain on Wednesday.

Forex today: US dollar outworks krone and ruble

The yield on the 10-year Treasury note sank 2.9 basis points to 1.577%, while the ICE US Dollar Index, a measure of the currency against a basket of six major rivals, was down 0.2%.

Compares to the US dollar, the Norwegian krone (NOK) was down 0.2%, 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: Oil-currencies weaken as crude falls, NZD rallies while TRY sinks

Markets in this article

Advanced Micro Devices Inc (Extended Hours)
116.97 USD
-1.53 -1.290%
1.25567 USD
-0.00412 -0.330%
22.69 USD
-0.81 -3.470%
22.69 USD
-0.81 -3.470%
16.42 USD
-0.1 -0.610%

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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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