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US mid-day: Dow remains up as other gauges decline

By Joseph Toppe

16:58, 29 December 2021

Wall Street signs on a post
Wall Street - Photo: Unsplash

Trading is slow ahead of the New Year as the Nasdaq and S&P slip into red territory for the second consecutive day.

Halfway through the session, the Dow Jones Industrial Average is clinging to a small gain around 0.10%, the S&P 500 has fallen near 0.5% after starting the day in the green, while the Nasdaq Composite is roughly 0.30% down.

During trading on Tuesday, the Dow went up 96 points, or 0.27%, the S&P sank 0.1%, while the Nasdaq slipped 0.56%.

Winners and losers: Tesla sinks on another Musk sell

Shares of Tesla are down around 1.18% after financial filings published yesterday revealed CEO Elon Musk sold another 934,090 shares, representing approximately $1.02bn of the Tesla chief’s stake in the electric car builder.

In banking, shares of JPMorgan are up roughly 0.15%, Goldman Sachs is off near 0.42%, while Bank of America is down slightly, hovering around 0.022% in negative territory.

In other banking stock, shares of Wells Fargo are around 0.12% better on Wednesday.

As rising US cases of the Omicron variant has an impact on Wall Street, vaccine maker Pfizer is near 0.48% lower, while Moderna and Johnson & Johnson are both higher by 0.76% and 0.64%.

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Oil: Crude keeps gains mid-week

Oil futures were up on Wednesday as West Texas Intermediate crude for February delivery was trading up 95 cents, or 1.3%, at $76.93 a barrel on the New York Mercantile Exchange, while February Brent crude, the global benchmark, was trading $1.18, or 1.5%, higher to trade at $79.83 a barrel on ICE Futures Europe.

NVDA

129.88 Price
+2.170% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 0.13

AAPL

230.23 Price
+1.090% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 0.11

TSLA

249.14 Price
+4.260% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 0.19

AMD

181.99 Price
+0.360% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 0.18

In energy stock, shares of Exxon Mobil are off approximately 0.81%, Chevron is down near 0.57%, while Hess and Diamondback Energy are both lower at roughly 0.70% in decline.

Gold: Metals dip lower on Wednesday

Gold futures are down halfway through the week with February gold trading $15.50, or 0.9%, lower at $1,795.30 an ounce.

Meanwhile, silver futures for March delivery were trading 25 cents, or 1.1%, lower at $22.88 an ounce.

Crypto: Digital assets start hump day rebound

After falling into decline yesterday, cryptocurrencies are mostly higher on Wednesday.

Bitcoin is 0.52% higher, Ethereum is down by 0.37%, while Litecoin and Monero are both better by 2.34 % and 1.25% respectively.

Forex: Swiss Franc gains on US buck

On Wednesday, one US dollar equals $1.28 of the Canadian dollar, $0.88 of the euro, and $0.91 of the Swiss Franc, falling slightly from its $0.92 holding last week.

The yield on the benchmark 10-year U.S. Treasury note rose to 1.539% from 1.480% yesterday.

Read more: Robinhood share price prediction: what’s next for HOOD?

Markets in this article

BAC
Bank of America Corp (Extended Hours)
41.59 USD
-0.32 -0.770%
BAC
Bank of America Corp (Extended Hours)
41.59 USD
-0.32 -0.770%
BCH/BTC
Bitcoin Cash / Bitcoin
0.00663 USD
0.00041 +6.770%
CVX
Chevron
155.75 USD
0.43 +0.280%
CVX
Chevron
155.75 USD
0.43 +0.280%

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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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