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US market close: Biden’s Omicron plan spurs Tuesday trading

By Joseph Toppe

21:08, 21 December 2021

US president Joe Biden wearing a non-medical mask
US president Joe Biden - Photo: Shutterstock

The major American gauges are up big on Tuesday after President Joe Biden announced new actions to combat rising Omicron cases in the US.

The Dow Jones Industrial Average added 560.54 points, or 1.6%, to 35,492.70, the S&P 500 went up 1.8% to 4,649.23, while the Nasdaq Composite popped 3% to 15,341.09.

The small-cap benchmark Russell 2000 improved 2.4%, notching its best day since July.

Biden steps up fight against Omicron

On Tuesday, President Biden outlined a plan to help protect Americans, communities, and US hospitals fight Omicron this winter.

According to a White House press release, the Biden Administration will begin deploying additional medical personnel, expanding hospital capacities, and providing resources like supplies and free ventilators to states.

The president’s outline includes robust access to free testing through new federal testing sites, the distribution of free, rapid tests to Americans, while also using the Defence Production Act to speed up test manufacturing.

To raise support for local hospitals, the federal government can deploy troops to Covid-burdened facilities and expand hospital capacity by activating Federal Emergency Management Agency response teams.

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Winners and losers: Vaccine stocks dip on Biden’s plan

Shares of Pfizer are 2.25% in the red, shares of Johnson & Johnson are down 0.32%, and shares of Moderna are 2.98% lower.

In the aviation industry, shares of American Airlines are higher by 4.74%, shares of Delta Airlines are up 5.91%, while shares of Southwest Airlines are 3.84% in positive territory and shares of United Airlines are 6.89% better.


1.30 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0046%
Short position overnight fee -0.0036%
Overnight fee time 21:00 (UTC)
Spread 0.00013


203.52 Price
-0.840% 1D Chg, %
Long position overnight fee 0.0104%
Short position overnight fee -0.0187%
Overnight fee time 21:00 (UTC)
Spread 0.039


0.67 Price
-0.150% 1D Chg, %
Long position overnight fee -0.0066%
Short position overnight fee -0.0016%
Overnight fee time 21:00 (UTC)
Spread 0.00006


1.09 Price
+0.280% 1D Chg, %
Long position overnight fee -0.0087%
Short position overnight fee 0.0005%
Overnight fee time 21:00 (UTC)
Spread 0.00006

The Dow Jones Industrial Average grew on its mid-day lead as blue-chip shares like Boeing went up 5.8% and shares of Nike traded 6.20% higher.

Oil: Crude climbs higher

Oil futures were higher on Tuesday with West Texas Intermediate crude for February delivery spiking $2.51, or 3.7%, to close at $71.12 a barrel on the New York Mercantile Exchange.

February Brent crude, the global benchmark, closed $2.46 higher, up 3.4%, at $73.98 a barrel on ICE Futures Europe.

In energy stock, shares of Exxon Mobil are up 2.25%, while shares of Chevron are 1.60% better.

Gold: Yellow metal runs red

Gold futures are lower after ending yesterday’s session in decline as February gold closed lower by $5.90, or 0.3%, to $1,788.70 an ounce.

Forex: US buck holds firm against yen, euro

On Tuesday, one US dollar equals 1.29 of the Canadian dollar, 114.17 of the Japanese yen, and 0.89 of the euro.

The yield on the benchmark 10-year Treasury note went up to 1.487% Tuesday from 1.418% Monday.

Read more: US oil prices bounce back, but worries over Omicron remain 

Markets in this article

American Airlines Group Inc (Extended Hours)
11.04 USD
-0.07 -0.640%
American Airlines Group Inc (Extended Hours)
11.04 USD
-0.07 -0.640%
Boeing Co (Extended Hours)
185.55 USD
-0.41 -0.220%
Boeing Co (Extended Hours)
185.55 USD
-0.41 -0.220%
161.03 USD
3.04 +1.930%

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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.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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