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US English

US mid-day: Stocks turn green as US dollar gains on euro

By Joseph Toppe

16:06, 8 February 2022

Wall Street
American auto shares fall on Tuesday as gold and oil mix - Photo: Shutterstock

Investors are moving stocks higher in early trading after finishing Monday’s session mixed.

Halfway through the session, the Dow Jones Industrial Average (US30) was up approximately 191 points, or 0.55%, the S&P 500 was up around 0.29%, while the Nasdaq Composite (US100) was roughly 0.55% higher.

During trading on Monday, the Dow ended the day along a flatline, the S&P went down 0.37%, and the Nasdaq dropped 0.58%.

Winners & losers: Vaccine shares fall

Health-care stocks are off during Tuesday trading with Pfizer roughly 5.68% in the red, BioNtech down near 7.10%, while Moderna is approximately 5.24% lower and Johnson & Johnson is down almost 0.2%.

Meanwhile, shares of airplane manufacturer Boeing have popped around 0.52%, while in the auto sector, shares of Tesla have jumped almost 0.94% and General Motors is down approximately 4.67%.

In other auto stocks, Ford is almost 2.85% lower, while Toyota is up approximately 0.82% and BMW is down near 0.38%.

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Oil: Benchmarks sink

Oil futures are down again on Tuesday as West Texas Intermediate crude for March delivery retreated $1.87, or 2%, to $89.45 a barrel on the New York Mercantile Exchange, while April Brent crude, the global benchmark, slipped $2.05, or 2.2%, to $90.64 a barrel on ICE Futures Europe.

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

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 the energy sector, shares of Diamondback Energy are near 3.18% lower, Chevron is down approximately 1.48%, while ConocoPhillips is off around 1.61%, and Hess is roughly 1.86% in the red.

Gold: Inches higher

Gold futures are up slightly on Tuesday as April gold added $1.87, or 0.1%, to trade at $1,823.50 an ounce, while March silver was trading up by 6.4 cents, or 0.3%, at $23.14 an ounce.

Crypto: Falls across board

Prominent cryptocurrencies are down on Tuesday with bitcoin off 1.27%, ethereum off 2.21%, while litecoin is 2.29% lower, and monero is 2.33% in negative territory.

In other digital assets, bitcoin cash is down 2.35% and dogecoin is 7.73% lower.

Forex: US buck makes move

On Tuesday, the US dollar moved up to $0.88 of the euro, while holding steady at $0.74 of the British pound sterling and $1.27 of the Canadian dollar.

Markets in this article

BCH/BTC
Bitcoin Cash / Bitcoin
0.00750 USD
0.00019 +2.670%
BCH/USD
Bitcoin Cash / USD
493.00 USD
13.35 +2.800%
BNTX
BioNtech SE (Extended Hours)
91.45 USD
-2.11 -2.280%
BNTX
BioNtech SE (Extended Hours)
91.45 USD
-2.11 -2.280%
BMW
BMW
96.26 USD
-0.62 -0.640%

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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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