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US English

US market close: Stocks rise as oil and gold close higher

By Joseph Toppe

21:18, 9 February 2022

Wall Street close
Vaccine makers up and down, banking stocks waver - Photo: Shutterstock

Wall Street investors are keeping the major US benchmarks in positive trading during February, after finishing last month down across the board.

On Wednesday, the Dow Jones Industrial Average (US30) went up 305 points, or 0.86%, the S&P 500 went up 1.45%, while the Nasdaq Composite (US100) went 2.08% higher.

Halfway through the session, the Dow was up approximately 291 points, or 0.82%, the S&P was up around 1.14%, and the Nasdaq was roughly 1.42% higher.

Winners & losers: Social soars

After notching big gains in early trading, banking shares are uneven as First Republic Bank surged 1.51%, BlackRock is up 0.82%, while Bank of America dipped 0.18% and Goldman Sachs rose 1.20%

Healthcare shares were mixed during trading with Pfizer down 0.46%, BioNtech up 8.60%, as Moderna went 6.99% higher and Johnson & Johnson slipped 0.012% in the red.

Shares of Meta are up 5.37%, Twitter is up 5.11%, while Snap is 7.16% higher, and Pinterest is 0.45% in the green.

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Oil: Gets stronger

Oil futures rose after beginning the day down with West Texas Intermediate crude for March delivery spiking 30 cents, or 0.3%, to settle at $89.66 a barrel on the New York Mercantile Exchange, and April Brent crude jumped 77 cents, or 0.9%, to $91.55 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

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

US30

39,997.70 Price
+0.360% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 11.0

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

In energy stock, shares of Hess ended the day along the flatline and Exxon Mobil went down 1.58%.

Gold: Moves up

Gold futures went up on Wednesday as April gold added $8.70, or 0.5%, to settle at $1,836.60 an ounce, while March Silver went up 14 cents, or 0.6%, at $23.341 an ounce.

Crypto: Bitcoin recovers

Prominent cryptocurrencies are higher on Wednesday with bitcoin up 1.06%, ethereum up 4.34%, while litecoin and monero are both 5.21%, and 7.27% into the green respectively.

In other digital assets, bitcoin cash is up 3.45% and dogecoin is 1.21% higher.

Treasury: 10-year lower

The yield on the benchmark 10-year Treasury note went down to 1.940% Wednesday from 1.954% Tuesday, its highest mark since July 2019.

On Wednesday, the US dollar remains $0.88 of the euro, $0.74 of the British pound sterling and $1.27 of the Canadian dollar.

Markets in this article

BAC
Bank of America Corp (Extended Hours)
39.31 USD
0.07 +0.180%
BAC
Bank of America Corp (Extended Hours)
39.31 USD
0.07 +0.180%
BCH/BTC
Bitcoin Cash / Bitcoin
0.00749 USD
0.00036 +5.160%
BCH/USD
Bitcoin Cash / USD
492.00 USD
26.25 +5.620%
BNTX
BioNtech SE (Extended Hours)
91.45 USD
-2.11 -2.280%

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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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