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US English

US market close: Stocks rise as Dow pops and dollar bounces

By Joseph Toppe

21:02, 8 February 2022

Data illustration
Retail and tech stocks are boosting the markets higher - Photo: Shutterstock

Wall Street investors are pushing the big US gauges into winning territory as the Dow adds over 370 points and the US greenback steps up on the euro.

On Tuesday, the Dow Jones Industrial Average (US30) jumped 1.06%, the S&P 500 went up 0.84%, while the Nasdaq Composite (US100) popped 1.28%.

Halfway through the session, the Dow was up approximately 191 points, or 0.55%, the S&P was up around 0.29%, and the Nasdaq was roughly 0.55% higher.

Winners & losers: Retail booms

In retail, shares of Walmart are 0.014% higher, Costco is up 1.02%, while Kohl’s is up 2.51% and Target is 0.79% in the green.

In related stocks, shares of JB Hunt Transport Services surged 1.25%, Amazon popped 2.2%, and UPS went up 2%.

In the technology sector, shares of Adobe are 0.83% higher, Apple is up 1.85%,while Advanced Micro Devices (AMD) is 3.69% in the green, and Texas Instruments is 1.58% in positive trading.

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Oil: Slips lower

Oil futures are down before midweek as West Texas Intermediate crude for March delivery lost $1.96, or 2.2%, to settle at $89.36 a barrel on the New York Mercantile Exchange, while April Brent crude shed $1.91, or 2.1%, to $90.78 a barrel on ICE Futures Europe.

US500

5,305.70 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 1.7

US100

18,549.60 Price
+0.020% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 7.0

HK50

19,724.90 Price
+0.810% 1D Chg, %
Long position overnight fee -0.0225%
Short position overnight fee 0.0005%
Overnight fee time 21:00 (UTC)
Spread 30.0

DE40

18,731.50 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0221%
Short position overnight fee -0.0001%
Overnight fee time 21:00 (UTC)
Spread 8.0

In energy stock, shares of Hess are up 3.95% and Exxon Mobil is up 2.18%.

Gold: Rushes

Gold futures went higher on Tuesday as April gold added $6.10, or 0.3%, to settle at $1,827.90 an ounce, while March Silver spiked 12 cents, or 0.5%, at $23.20 an ounce, after rising 2.7% on Monday.

Crypto: Bitcoin rises

Prominent cryptocurrencies are mixed on Tuesday with bitcoin up 0.48%, ethereum down 1.12%, while litecoin is 1.18% lower, and monero is 3.14% in negative territory.

In other digital assets, bitcoin cash is down 1.17% and dogecoin is 6.26% lower.

Forex: USD gains on euro

On Tuesday, the US dollar moved up to $0.88 of the euro, while holding steady at $0.74 of the British pound sterling and $1.27 of the Canadian dollar.

Markets in this article

ADBE
Adobe Systems Inc (Extended Hours)
483.55 USD
-0.6 -0.120%
AMD
Advanced Micro Devices Inc (Extended Hours)
164.60 USD
2.51 +1.550%
AMZN
Amazon.com Inc (Extended Hours)
184.87 USD
1.15 +0.630%
AAPL
Apple Inc (Extended Hours)
190.09 USD
0.24 +0.130%
BCH/BTC
Bitcoin Cash / Bitcoin
0.00749 USD
0.00036 +5.160%

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Related reading

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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