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US English

US mid-day: Stocks rebound after Tuesday’s fall

By Joseph Toppe

16:10, 2 March 2022

Bull
Oil climbs as energy shares mix and gold retreats - Photo: Shutterstock

Wall Street investors are back in action on Wednesday after starting the week in losing territory.

Halfway through the session, the Dow Jones Industrial Average (US30) was up approximately 560 points, or 1.69%, the S&P 500 was up around 1.56%, while the Nasdaq Composite (US100) was roughly 1.05% in the green.

On Tuesday, the Dow lost 598 points, or 1.77%, the S&P went down 1.55%, and the Nasdaq slipped 1.59% lower.

Winners & losers: GM stands out

In the technology sector, shares of Microsoft are up approximately 0.56%, Apple is up around 0.96%, while Alphabet is nearly 0.18% in the red and Intel is roughly 2.9% in green territory.

Shares of Texas Instruments are almost 1.7% higher, Advanced Micro Devices (AMD) is roughly 1.55% in positive trading, as Nvidia jumped around 1.87% and Roku went down approximately 6.91%.

Auto shares are wobbling on Wednesday with Tesla down nearly 1.15% and General Motors up approximately 2.16%.

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

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

In other auto stocks, Ford is almost 6.02% higher, Toyota is approximately 1.57% in the red and BMW is off near 1.75%.

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Oil: Spikes

Oil futures are higher mid-week as West Texas Intermediate went up 4.02% to $107.57.

In the energy sector, shares of ConocoPhillips are up roughly 1.90%, Hess is off approximately 3.21%, while Diamondback Energy is down near 0.63%, and Chevron surged around 3.25%.

Gold: Falls

Gold futures are down as April gold lost $13.90, or 0.7%, to trade at $1,929.90 an ounce, and May silver lost 31.1 cents, or 1.2%, to $25.23 an ounce.

Treasury: Rises

Yields on benchmark 10-year Treasury notes went up to 1.796%, from 1.708% on Tuesday.

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%
BMW
BMW
96.26 USD
-0.62 -0.640%
CVX
Chevron
162.85 USD
1.51 +0.940%

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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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