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US English

US market close: Big indexes continue positive week

By Joseph Toppe

21:25, 7 December 2021

New York Stock Exchange trading floor
Wall Street indexes were up Tuesday, with the Dow posting a 494-point gain - Photo: Shutterstock

After posting strong gains during yesterday’s session, US stocks are up again on Tuesday.

The Dow Jones Industrial Average went up 494 points, or 1.3%, the S&P 500 tacked on 1.9%, just 1% away from its all-time high, while the Nasdaq Composite surged a market leading 2.8%.

Halfway through the session, the Dow Jones Industrial Average was up 569 points, or 1.6%, the S&P 500 was 2.1% higher, and the Nasdaq Composite was up 2.9%.

Winners and losers: Tech shares power Nasdaq’s rise

Shares for Nvidia are up over 6%, shares for Adobe went over 3% higher, shares for Micron added 6% and shares for Apple rose 2.8%.

In other tech stocks, shares for Microsoft and Amazon added 2% and shares for Meta Platforms were up more than 1%.

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Oil: Crude reaches highest point in half month

Oil futures are up on Tuesday, hitting their highest peak in two weeks.

West Texas Intermediate crude for January delivery added $2.56, or 3.7%, to settle at $72.05 a barrel on the New York Mercantile Exchange, after a 4.9% pop on Monday.

US500

5,606.80 Price
+0.270% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.5

DE40

18,450.20 Price
+0.120% 1D Chg, %
Long position overnight fee -0.0214%
Short position overnight fee -0.0008%
Overnight fee time 21:00 (UTC)
Spread 1.5

US100

19,930.30 Price
+0.590% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 1.8

HK50

17,810.70 Price
+0.800% 1D Chg, %
Long position overnight fee -0.0238%
Short position overnight fee 0.0018%
Overnight fee time 21:00 (UTC)
Spread 30.0

February Brent crude, the global benchmark, went up $2.36, or 3.2%, to close at $75.44 a barrel on ICE Futures Europe, notching a fourth straight gain.

With the spike in crude prices, energy stocks are also up with shares for Occidental Petroleum up 4% and shares for Devon Energy up 6.6%.

Gold: Precious metal hits weekly high

Gold futures settled at their highest point in more than week on Tuesday.

February gold improved $5.20, or 0.3%, to settle at $1,784.70 an ounce.

Forex: US dollar holds position versus Euro

On Tuesday, one US dollar equals 0.89 of the euro after falling to 0.88 last week.

In bond markets, the yield on the benchmark 10-year Treasury note ticked up to 1.463% Tuesday from 1.433% Monday.

Read more: Facebook stock forecast: Can FB recover its record highs?

Markets in this article

AMZN
Amazon.com Inc (Extended Hours)
188.80 USD
0.46 +0.240%
AAPL
Apple Inc (Extended Hours)
231.05 USD
2.01 +0.880%
DVN
Devon
48.70 USD
0.42 +0.870%
DVN
Devon
48.70 USD
0.42 +0.870%
META
Meta Platforms Inc (Extended Hours)
467.95 USD
5.34 +1.160%

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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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