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US market close: Stocks rebound to end choppy week

By Joseph Toppe

21:24, 28 January 2022

Wall Street street sign
Stocks up at the end of a turbulent week - Photo: Unsplash

Wall Street churned up and down on Friday as the Dow Jones tacked on 564 points after trading in red territory at the midway point.

During the Friday session, the Dow Jones Industrial Average went up 1.65%, the S&P 500 increased by 2.43%, while the Nasdaq Composite climbed 3.13%.

At mid-day, the Dow was down around 0.23%, the S&P was up roughly 0.29%, and the Nasdaq was about 0.77% higher.

Winners & losers: Banking rises

In the banking sector, shares of Wells Fargo were up 0.80%, Citigroup was 0.84% higher, and JPMorgan was 0.89% in the green.

Meanwhile, First Republic Bank went up 3.02%, BlackRock went 2.52% higher, as Bank of America added 0.88% and Goldman Sachs popped 1.75%.

Elsewhere, shares of AMC Entertainment Holdings improved 3.72%, while GameStop increased by 4.84%.

Ride-sharing apps were trading green on Friday as Alibaba went up by 3.09%, Lyft added 2.35%, and Uber surged 3.29% higher.

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36,038.60 Price
-0.080% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 2.2


4,556.90 Price
+0.140% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 0.8


15,843.40 Price
+0.350% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 22:00 (UTC)
Spread 1.8


16,351.40 Price
-0.180% 1D Chg, %
Long position overnight fee -0.0260%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 5.0

Oil: Wins again

Oil futures were up on Friday to close their sixth winning week in a row as West Texas Intermediate crude for March delivery spiked 21 cents, or 0.2%, to settle at $86.82 a barrel on the New York Mercantile Exchange, while March Brent crude added 69 cents, or 0.8%, to settle at $90.03 a barrel on ICE Futures Europe.

In energy stock, shares of Hess are 1.53% higher, while Exxon Mobil and Diamondback Energy were up by 0.21% and 0.062% respectively.

Gold: Lowest since November

Gold futures went down on Friday as February gold lost 0.5%, or $8.20, to $1,784.90 an ounce, while silver for March delivery slipped nearly 1.7%, or 37 cents, to $22.301 an ounce.

Forex: US buck’s up

On Friday, one US dollar remained 90 cents of the euro, after falling to 88 cents on Monday, $1.28 of the Canadian dollar, after making up just $1.27 of the currency yesterday, and 75 cents of the pound sterling after equalling just 74 cents on Wednesday.

The yield on the 10-year Treasury note fell to 1.779% from 1.807% on Thursday.

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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 on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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