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US English

US mid-day: Dow and S&P rally, Nasdaq stays lower

By Joseph Toppe

16:13, 11 February 2022

Wall Street
Prominent cryptocurrencies mixed on Friday, oil is up, gold is down – Photo: Unsplash

The major US benchmarks are mostly higher in early trading while wobbling technology shares keep the Nasdaq in decline.

Halfway through the session, the Dow Jones Industrial Average (US30) was up approximately 158 points, or 0.45%. The S&P 500 was up around 0.16%, while the Nasdaq Composite (US100) was roughly 0.04% lower.

On Thursday, the Dow lost 526 points, or 1.47%, the S&P fell 1.81%, and the Nasdaq lost 2.10%.

Winners & losers: Tech and auto waver

In the technology sector, shares of Microsoft are down approximately 0.74%, Apple is down around 0.028%, while Google parent Alphabet is off nearly 0.29% while Intel is holdiing a 0.12% gain.

Shares of Texas Instruments are lower by approximately 0.68%, Advanced Micro Devices (AMD) is roughly 4.01% in negative territory, and Nvidia declined around 2.75%, but Roku gained approximately 3.31%.

On the social media front, Twitter is up around 1.16%, Facebook parent Meta Platforms is down 1.19%, while Snap is 2.12% in the green and Pinterest rose about 6.07%.

Auto shares are mixed on Friday with Tesla down nearly 1.68% and General Motors up approximately 0.91%.

In other auto stocks, Ford Motor is almost 0.97% higher, Toyota is up approximately 0.39% and BMW added nearly 3.15%.

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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

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

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

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

Oil: Crudes rise

Oil futures are up the last day of the week with West Texas Intermediate for March delivery adding $1.29, or 1.4%, to $91.17 a barrel on the New York Mercantile Exchange, and April Brent crude going up $1.03, or 1.1%, at $92.44 a barrel on ICE Futures Europe.

In the energy sector, shares of Diamondback Energy are nearly 1.37% higher, Chevron is up approximately 1.37%, while ConocoPhillips gained around 0.23%, and Hess is roughly 2.92% in the green.

Gold: Metals sink

Gold futures are down Friday as gold for April delivery lost $5.90, or 0.3%, to $1,831.50 an ounce. March silver shed 51.7 cents, or 2.2%, at $23.005 an ounce.

Crypto: Mixed bag

Prominent cryptocurrencies are mixed on Friday with bitcoin up 0.13%, ethereum up 0.18%, and litecoin and monero 1.90% and 0.58% lower respectively.

In other digital assets, bitcoin cash is off 1.81% while dogecoin is 0.16% higher.

Treasury: Retreats

On Friday, the yield on the benchmark 10-year Treasury note slipped to 2.001% after settling at 2.028% yesterday.

Forex: USD moves again

The US dollar went back up to $0.88 of the euro, while holding at $0.74 to the British pound sterling and $1.27 of the Canadian dollar.

Markets in this article

AMD
Advanced Micro Devices Inc (Extended Hours)
164.60 USD
2.51 +1.550%
GOOGL
Alphabet Inc - A (Extended Hours)
176.57 USD
2.48 +1.430%
AAPL
Apple Inc (Extended Hours)
190.09 USD
0.24 +0.130%
BCH/BTC
Bitcoin Cash / Bitcoin
0.00751 USD
0.00036 +5.160%
BCH/USD
Bitcoin Cash / USD
494.30 USD
26.25 +5.620%

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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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