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US English

US mid-day: Market mixed as Dow drops by 256 points

By Joseph Toppe

16:06, 4 February 2022

Dow Jones Industrial Average stock market index chart - 3D illustration
On a downer: stocks were mixed while the Dow Jones Industrial Average took a dive – Photo: Shutterstock

Investors were cautious on Friday as the major US benchmarks were mixed in early trading.

Halfway through the session, the Dow Jones Industrial Average (US30) was down by approximately 256 points, or 0.73%; the S&P 500 was down around 0.29%; and the Nasdaq Composite (US100) was roughly 0.49% higher.

Winners and losers: aviation and auto nosedives

In travel stock, shares of American Airlines (AAL) are down nearly 2.11%; Delta Airlines (DAL) shares are down around 1.02%; Southwest Airlines (LUV) stock is roughly 0.6% in the red; and United Airlines (UAL) stock is almost 1.74% lower.

Meanwhile, shares of airplane manufacturer Boeing (BA) have slipped around 1.15%, while in the auto sector, shares of Tesla (TSLA) went up almost 1.14% and General Motors (GM) retreated approximately 4.46%.

In other auto stocks, Ford (F) is almost 11.11% lower, while Toyota (7203) is off approximately 1.99% and BMW (BMW) is nearly 4.33% in the red.

What is your sentiment on DOGE/USD?

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DOGE/USD

0.16 Price
+1.130% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

BCH/USD

492.00 Price
+2.770% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

BTC/USD

67,188.70 Price
+0.160% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

XRP/USD

0.53 Price
+0.200% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

Oil and energy: benchmarks rise

Oil futures are higher with West Texas Intermediate crude for March delivery adding $2.42 – or 2.7% – to $92.69 a barrel on the New York Mercantile Exchange (NYMEX), while April Brent crude, the global benchmark, gained $2.21 – or 2.4% – to $93.32 a barrel on the ICE Futures Exchange.

In the energy sector, shares of Diamondback Energy (FANG) are near 1.45% higher and Chevron (CVX) stock is up by approximately 0.83%, while ConocoPhillips (COP) stock is up around 2.12% and Hess (HES) is roughly 2.90% in the green.

Gold: glistening above $1,800

Gold futures are up on Friday as gold for April delivery spiked by $3.60 – or 0.2% – to $1,807.70 an ounce, while March silver was up by 19 cents – or 0.9% – at $22.75 an ounce.

Forex: USD wobbles

On Friday, the US dollar slipped again on the euro, falling to $0.87, while adding a step on the Canadian dollar and British pound sterling at $1.28 and $0.74, respectively.

Markets in this article

AAL
American Airlines Group Inc (Extended Hours)
14.79 USD
-0.06 -0.410%
AAL
American Airlines Group Inc (Extended Hours)
14.79 USD
-0.06 -0.410%
BMW
BMW
96.26 USD
-0.62 -0.640%
BA
Boeing Co (Extended Hours)
185.00 USD
1.91 +1.050%
BA
Boeing Co (Extended Hours)
185.00 USD
1.91 +1.050%

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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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